Research On The Conduction Of Currency Idle In China's Shadow Banks

In 2018,the central bank adjusted the deposit reserve ratio three times a year.Especially since 2015,the central bank has adjusted or downgraded the reserve ratio nine times in order to alleviate the liquidity tension in the market,reduce the actual financing cost of society and support the development of real economy.In fact,the most serious contradiction between liquidity supply and demand occurred in the interbank lending market in June 2013.Meanwhile,currency vacancy was also mentioned for the first time.In 2016,the state proposed the concept of "deleveraging" at the macro level,pointing to the existence of a large number of idling arbitrage behaviors in the national economy.In the process of transforming monetary capital into industrial capital,money flows to the virtual economy or returns to the financial system in the form of currency due to the existence of various types of shadow banking,and finally fails to achieve the macroeconomic objectives of monetary policy.Money funds have directly caused the idling of money funds in many fields through other forms of arbitrage such as shadow banking,notes and Banks,resulting in the coexistence of "cash shortage" and large amounts of liquidity in brick-and-mortar enterprises.Among them,the shadow banking system,especially with off-balance sheet financial management and trust products,elongates the circulation chain of money transforming into industrial capital,and causes a large amount of funds to empty within the financial system,which not only causes great harm to the real economy in the national economy,but also causes the phenomenon of difficult financing and expensive financing for the real enterprises.On the macro level,the effect of monetary policy is affected,the effect of macroeconomic target is distorted,and the driving effect of total social demand on economy is affected.Among the many manifestations of currency idling,it is the most important one through the shadow banking system.Therefore,it is particularly important to clarify the transmission mechanism of shadow banking system to monetary idling,prevent and control the phenomenon of monetary idling and reduce the degree of monetization dependence of the national economy by strengthening the supervision of the shadow banking system.Through the research of silver banking system on the transmission mechanism of money idling,through the fixed model design and empirical analysis,this paper concludes that the leakage effect of shadow banking system in the process of money credit creation and circulation leads to the failure of monetary capital to be fully converted into industrial capital,and stays in the internal idling of the financial system.Therefore,it is proposed to regulate the statistics of shadow banking channels and increase the supervision of the shadow banking system.Through the establishment of a sound shadow banking information disclosure mechanism;We will continue to improve and promote the management of off-balance sheet assets of commercial Banks.Increase the supervision of the commercial bank management,the introduction of new supervision and examination index and so on,to strengthen the supervision of the shadow banking,commercial Banks,the innovation of financial services entity of financing system,pay attention to the distinction between state-owned enterprises in the process of reduced leverage and entities,small and medium enterprises,guide the money really serve the real economy,increase the service function of finance.