利率市场化条件下大银行净利息收益能力比较  

A Comparative Analysis of Large Banks under the Condition of the Liberalization of Interest Rate

作　　者：徐可达[1] 

机构地区：[1]中国工商银行总行

出　　处：《金融论坛》2015年第1期14-20,共7页Finance Forum

摘　　要：评价银行净利息收益能力的国际通行指标是净利息收益率(net interest margin)而非基准利率利差,但基准利率水平与银行净利息收益能力存在关联。分析近10年国内外大银行NIM水平后表明,利率市场化并不必然导致NIM收窄,其中富国银行以立足于中小及个人客户的业务模式、稳定广泛的存款及客户基础、适时灵活的债券投资及主动负债策略,在本轮金融危机后的美国低利率周期中仍保持了可比同业最高NIM水平。综合分析富国案例及美国利率市场化进程中银行的转型,可预见中国利率市场化将使银行未来经营发生深刻转变,主动负债、风险定价、异质竞争将成为新的主题。Internationally accepted indicators to evaluate the ability of banks to gain net interest income is net interest margin(NIM) rather than benchmark interest rate spreads, but there a correlation between benchmark interest rates and net interest income of banks. This paper analyzes the NIM level of domestic and foreign large banks in past 10 years, and the results show that the liberalization of interest rate does not necessarily lead to the NIM reducing; the Wells Fargo insists on the business model focusing on SME and personal business, has a stable base of deposits and extensive customers, and implements timely and flexible bond investment as well as active debt strategy, so it maintains the highest NIM level in banking sector in the American low interest rate period after the financial crisis. The comprehensive analysis of the banking restructuring in the Wells Fargo's case and the liberalization process of the American interest rate shows it's can be predicted that the Chinese liberalization of interest rate will make banks change the business deeply in the future, and active debt, risk pricing, heterogeneous competition will be the new subjects.

关 键 词：利率市场化 净利息收益率 基准利率利差 大银行 

分 类 号：F832.5[经济管理—金融学] F832.2