Research On The Impact Of Interbank Business Of China's Joint-stock Commercial Banks On Bank Liquidity Risk

With the maturation of market conditions,the competition in China's banking industry continues to intensify,and commercial banks urgently need more profit.The interbank business can not only bring about certain profits,but also can reasonably avoid supervision.Compared with state-owned banks and city commercial banks,the interbank business of joint-stock commercial banks is even more prominent.The interbank business of joint-stock commercial banks mainly uses the maturity mismatch and increased leverage to allocate assets.This has led to the accumulation of huge liquidity risks in the banking system.The“money shortage ” incident in 2013 began to expose the liquidity risks existing in the banking industry.In the "China Financial Stability Report" issued by the People's Bank of China in 2016,it was clearly pointed out that in 2015,the stability of banking financial institutions with rapidly deteriorating interbank liabilities rapidly increased,and some small and medium-sized banks with high proportion of interbank business and serious mismatch of asset and liability periods.Mobility management is more difficult.Domestic scholars mainly focus on listed commercial banks for their research on bank liquidity risk,and there are few studies on bank liquidity for joint-stock commercial banks.Based on the studies of scholars at home and abroad,this paper selects 12 joint-stock commercial banks as research objects from the perspective of the research of domestic and foreign businesses,uses the annual data from 2007 to 2016 as a sample,and uses the principal component analysis method to measure the performance of joint-stock commercial banks.Liquidity level.At the same time,a panel data regression model was established to analyze the impact of interbank business on liquidity risk.The empirical research results show that the interbank assets business and liability business of joint-stock commercial banks will increase liquidity risk.In addition,the regression results after adding the control variables show that the total assets return rate,the non-performing loan ratio and the liquidity risk have a positive correlation.The broad money growth rate is negatively correlated with the liquidity risk throughout the sample period,indicating that the increase in the moneysupply by the central bank can complement the liquidity of the entire financial market and reduce the occurrence of the liquidity crisis;the interbank borrowing rate is positively correlated with the liquidity risk.After adding these control variables,the goodness of fit of the regression model is better,indicating that these variables are important factors affecting bank liquidity risk.This paper further refines the research issues,analyzes the structure of interbank business and concludes that,from the perspective of the interbank business,the removal of funds,the deposit of peers,and the purchase and sale of resales are more significant for liquidity risks.Positive influence;From the perspective of interbank liabilities,the storage of the same industry has a significant positive effect on liquidity risk.The splitting of funds has a significant negative effect on liquidity risk,while an impact on the liquidity level is not obvious.Based on the empirical results,this paper proposes a series of policy recommendations,such as regulating the interbank business,preventing liquidity risks,and improving the financial market and so on.