A Research On The Impact Of Double-Pillar Policy Regulation On Bank Risk-Taking

After the outbreak of the international financial crisis in 2008,macroprudential policies have received a lot of attention.In only rely on monetary policy is difficult to effectively under the background of financial imbalances,the world has launched a series of macro-prudential policy tools,China also proposed to improve the monetary policy and macro-prudential policy regulation framework,and positive exploration has been made in practice,the party’s 19 big report clearly put forward the "sound monetary policy and macro-prudential policy double pillar regulation framework",to achieve the goal of preventing systemic financial risks and maintaining financial market stability.The proposal and implementation of the "double-pillar" policy on the financial market The field has a certain guiding role,and the adjustment of monetary policy and macro-prudential policy will change the risk assumption of banks.From the perspective of bank risk undertaking,this thesis analyzes the impact of "two-pillar" policy regulation on bank risk undertaking.Is there a monetary policy bank risk bearing channel in China? Can macro-prudential policy exert the impact of weakening monetary policy on the risk bearing of banks? Is this effect different because of the characteristic variables of banks? Are there differences in the effect of "double-pillar" policy regulation on different types of banks? The study of these problems has important theoretical and practical significance for the risk management of Chinese banks,and to provide effective advice for the monetary authorities to formulate and implement the "two-pillar" policies.The study found that loose monetary policy will increase bank risk taking;the implementation of macro-prudential policy can restrain the impact of monetary policy on bank risk bearing.The innovation of this thesis is introduced in the model of bank characteristic variables and monetary policy,"double pillar" policy interaction terms,further verify the bank characteristic variables affect monetary policy,"double pillar" policy on the effect of bank risk bearing,when the lower the bank capital adequacy ratio,the lower the return on assets,the smaller the size,the risk bearing sensitivity to the monetary policy and "double pillar" policy adjustment."Two-pillar" policy regulation in the different nature of the banks there are differences in the application effect.Compared with large commercial banks and joint-stock commercial banks,the risk assumption of urban and rural commercial banks is more sensitive to the adjustment of the "two pillars"According to the research conclusion,this thesis makes five suggestions: first,attention to the role of bank risk appetite in monetary policy transmission;second,implement differentiated monetary policy;third,establish and improve macro-prudential policy framework;fourth,exert the effect of monetary policy and macro-prudential policy coordination;fifth,implement differentiated "double pillar" policy regulation for different types of commercial banks.