流动性覆盖率的监管机理、影响及优化  

Mechanism, Influence and Optimization of Regulation on Liquidity Coverage Ratio

作　　者：刘琦[1,2] 熊启跃 Liu Qi;Xiong Qiyue

机构地区：[1]武汉大学经济与管理学院 [2]中国银保监会统计信息与风险监测部 [3]中国银行研究院

出　　处：《国际金融研究》2019年第11期66-76,共11页Studies of International Finance

基　　金：教育部哲学社会科学重大研究课题攻关项目“经济新常态下中国金融开放与金融安全研究”（17JZD015）资助

摘　　要：2008年全球金融危机爆发后,巴塞尔委员会引入了流动性覆盖率(LCR)作为全球统一的监管标准,旨在弥补原有银行监管中存在的缺陷。本文系统梳理了危机前后流动性风险的变化特点,探讨了巴塞尔Ⅲ流动性监管框架的内在机理,分析了流动性覆盖率监管对银行资产负债表的影响。在此基础上,重点研究了流动性覆盖率在宏观审慎监管层面可能存在的不足。研究发现,与资本监管类似,流动性覆盖率要求在提升银行微观主体稳健性的同时,会带来加剧亲周期效应、流动性风险传染、行业竞争和影响宏观调控效果等挑战。针对上述问题,本文提出了相应政策建议。After the outbreak of global financial crisis, the Basel Committee introduced liquidity coverage ratio(LCR)as a globally unified regulatory standard, to solve the deficiencies of banking regulation. This paper systematically sorts out the changing features of banking liquidity risk before and after the crisis, studies the internal mechanism of Basel Ⅲ liquidity regulatory framework, and analyzes the influence of LCR on banks’ balance sheets. On top of that, this paper focuses on the possible shortcomings of LCR at macro-prudential level. The study shows there is a certain degree of similarity between liquidity regulation and capital regulation. While the requirement on LCR enhances the resilience of individual banks, it would also bring some unfavorable challenges including pro-cyclical effects, liquidity risk contagion, over-intensified competition and influence on macro-policies. Accordingly, this paper brings forward several suggestions to optimize the liquidity regulation in the future.

关 键 词：银行监管 流动性覆盖率 宏观审慎 亲周期性 

分 类 号：F831[经济管理—金融学]