金融去杠杆背景下商业银行风险管理与路径选择  

The Risk Management and Path of Commercial Banks in the Context of Financial De-Leveraging

作　　者：陆岷峰 杨亮[3] LU Min-feng;YANG Liang

机构地区：[1]南京财经大学中国区域金融研究中心 [2]江苏省互联网金融协会 [3]中信银行南京分行

出　　处：《金融论坛》2017年第12期3-10,78,共9页Finance Forum

摘　　要：2016年监管部门提出抑制资产泡沫,表明宏观政策的关注重点转向防范金融风险。2017年上半年,金融去杠杆政策频出,在有效压缩金融泡沫的同时,市场产生了恐慌情绪,或将衍生出"二次风险",因此,亟须梳理国内商业银行的高杠杆现状与产生逻辑,分析当前金融去杠杆的症结所在,从而针对性地提出高效且稳健的治理路径,确保在推进供给侧改革、化解资产泡沫问题的同时,实现监管调控与市场发展的适度平衡。In 2016, the regulators proposed to curb asset bubbles, which indicated that macroeconomic policies focused on preventing financial risks. In the first half of 2017, de-leveraging policies issued frequently, which shrank the finan- cial bubbles effectively and caused panic in markets, and may result in the＂second risk＂ caused by financial supervision. Therefore, it is urgent to research the current high-leveraged situation and logic of domestic commercial banks and ana- lyze the difficulties in financial de-leveraging so as to propose the efficient and steady governance path to achieve a proper balance between regulatory control and market development meanwhile promoting the the supply-side reform and resolving the asset bubbles.

关 键 词：金融去杠杆 商业银行 金融监管 风险冲击 资产泡沫 

分 类 号：F832.33[经济管理—金融学]