Research On The Influence Of Treasury Cash Management On The Liquidity Of Commercial Banks

Since the formal establishment of treasury cash management system in 2001,with the development of treasury cash management in China,the scale of treasury cash management in China has been expanding,and by 2018,local treasury cash management has been fully established.Treasury cash management has gradually become an important means of macro-control from a single way to improve the utilization rate of idle funds,and its impact on all aspects is increasingly prominent,one of the key aspects is the impact on bank liquidity.Under the current "two pillar" regulatory framework,it is an important goal of the current stage to stabilize the liquidity of the banking system,control the liquidity risk,and avoid the liquidity shortage and excess,and the liquidity management has always been the focus of financial research.The main purpose of this paper is to study and analyze the impact of treasury cash management on the liquidity of commercial banks.The liquidity of commercial banks not only depends on the internal structure of the banking system,but also receives the impact of external economic environment and macro policies.Based on the previous literature research results,on the one hand,this paper analyzes the influence paths of treasury cash management on bank liquidity from the theoretical mechanism;on the other hand,it first constructs indicators from many aspects such as the operation mode and operation scale of treasury cash management in China,and then collects relevant data reflecting the liquidity of 18 large commercial banks in China to construct indicators,combining macro and micro From this point of view,further quantitative analysis is carried out between the two to get the mutual influence relationship.Finally,according to the empirical results,we put forward targeted policy recommendations,and then promote the development of treasury cash management,coordination and liquidity management of commercial banks to provide guidance and practical value.First of all,this paper starts with the related basic theories of treasury cash management and commercial bank liquidity,defines the basic concepts,analyzes the current situation of treasury cash management and the current situation of commercial bank liquidity management in China,and then from the theoretical transmission mechanism of treasury cash management operation impact,Through the establishment of a theoretical model to more clearly show its impact on all aspects of the process.Based on the results of the theoretical model,the relationship between treasury cash management and commercial bank liquidity is concluded.Next,the paper uses the empirical method of pvar model to quantify the relationship between the two,and draws the conclusions: first,treasury cash management will make the liquidity of commercial banks shrink to a certain extent in the short term,and the impact on the liquidity of commercial banks will gradually change from negative to positive with the increase of operation period.Finally,improve the liquidity level of commercial banks.Second,treasury cash management will indirectly affect the liquidity level of commercial banks through different transmission paths.For example,treasury cash management has an impact on the liquidity level of commercial banks by changing the structure of their own assets and liabilities,or indirectly by changing the macro monetary environment.On the basis of the conclusions of the previous chapters,this paper further analyzes the threshold effect of different scale treasury cash management on the liquidity of commercial banks.Based on the panel threshold model,this paper studies the relationship between the scale of treasury cash management operation and the liquidity level of commercial banks,and draws a conclusion from the results of the model: first,in the relationship between treasury cash management and the liquidity of commercial banks,the scale of treasury cash management operation is an important threshold variable,with the further expansion of treasury cash management scale When the critical value is reached,the relationship between treasury cash management andcommercial bank liquidity can be reflected in two situations: negative to positive,small to large.Secondly,with the expansion of treasury cash management scale,the influence coefficient of treasury cash management on the flow of commercial banks has gradually increased,which has a similar regulatory effect with monetary policy.The superposition effect of treasury cash management and relevant monetary policies enables the government to conduct more precise macro-control,grasp the control strength,maintain a stable financial system,and create a good financial environment.Finally,this paper reviews and summarizes the previous research.According to the analysis results of the influence mechanism and path between treasury cash management and Commercial Bank Liquidity Based on the theoretical model,as well as the research results of quantifying the mutual influence relationship between them through pvar model and panel threshold model,several targeted policy suggestions are put forward in the last part of the paper: first,considering the two requirements of coordination and stability,and formulating compliance The operation scale of treasury cash management that is suitable for the current liquidity situation and in line with the macro-control objectives.Second,cut off the binding of cash management and local debt to achieve a win-win situation of debt cost and standardization.Third,develop and improve the current treasury cash management mode,and improve the treasury cash management income.Fourth,we will promote coordinated innovation in top-level design and remove obstacles to the treasury cash management system.Fifthly,we should strengthen the prediction of future treasury cash management operation scale and simplify the operation process.