Research On The Impact Of The Development Of Chinese Commercial Banks' Interbank Business On Bank Risk-taking

With the steady advancement of Chinese financial market deepening reform and the completion of interest rate marketization,commercial banks' assets and liabilities have been experiencing financial disintermediation at both ends,superimposing the global economic recession,and commercial banks' profits are under pressure.In this era,the inter-bank business as an innovative business has gradually become an important channel for commercial banks to finance funds,manage assets and liabilities,product innovation and expand profit growth.In recent years,in order to avoid supervision and ensure steady growth of profits,the interbank business of commercial banks has experienced rapid development,and different degrees of innovation have been carried out in terms of business models and functions of the business.Interbank business consumes lower capital in operation,and some businesses can evade regulatory constraints.Therefore,commercial banks are favored by peer-to-peer business,but at the same time,there are still many hidden risks.Commercial banks provide financing for a large number of enterprises whose crediting is full or do not meet the credit standard through the inter-bank channel business.Some companies are even in industries where policies do not encourage development,which weakens the credit risk management of commercial banks;When competing for spreads,commercial banks tend to split short-term liabilities into the non-standardized market in the interbank market,and some assets with relatively long maturity,relatively low liquidity,and high yields,this typical maturity mismatch Seriously increased the liquidity risk of financial markets;The more commercial banks that participate in interbank business,the closer the relationship between commercial banks.Once systemic risks occur,the potential impact of interbank business on the entire banking system will increase.So,the development of interbank business may affect the level of risk-taking of commercial banks and threaten the level of robustness of the banking industry.This paper has certain theoretical and practical significance to study the impact of commercial banks' interbank business and development on bank risk-taking.The research in this paper mainly uses theoretical analysis and empirical analysis to discuss the relationship between "commercial interbank business and bank risk-taking".The conclusions of the theoretical analysis indicate that the development of commercial interbank business mainly affects the commercial banks' risk-taking by three kinds of risks,like credit risk,liquid risk and interbank risk contagion.The empirical part constructs the panel VAR model,and analyzes the impact of the development of the interbank business of 18 commercial banks listed in China on the risk-taking of banks based on the structure and risk perspective of interbank business.Among them,commercial bank interbank business selects interbank assets and interbank liabilities as structural variables.Interbank business selects credit risk and liquidity risk as risk variables.Bank risk-taking takes Z value.The empirical method uses panel VAR estimation.The empirical research found that in the structure of interbank business,there is a positive effect on interbank assets and bank risk-taking,and a negative effect on interbank liabilities and bank risk-taking.In the risk of interbank business,the relationship between credit risk and bank risk-taking is not significant,and liquidity risk is significantly positively correlated with bank risk-taking.Such as the development of interbank business on bank risk-taking,this paper argues that commercial banks should downplay stringent assessment targets and focus on service entities from the perspective of commercial banks themselves and financial supervisory authorities.Financial supervisory authorities should strengthen macro-prudential supervision and accelerate the coordination of cross-sectoral supervision to solve the problems and cheer up banks' risk-taking.