利率并轨与中小银行风险承担--基于LPR改革的视角  

Interest Rate Consolidation and Risk-Taking of Small and Medium-Sized Banks--Based on the Perspective of LPR Reform

作　　者：郭红玉[1] 耿广杰 GUO Hong-yu;GENG Guang-jie

机构地区：[1]对外经济贸易大学金融学院,北京100029

出　　处：《金融论坛》2022年第5期8-18,共11页Finance Forum

基　　金：国家社会科学基金一般项目“稳增长背景下我国利率传导机制改革和效果研究”(20BJY245);校级新冠肺炎疫情研究专项“疫情冲击背景下疏通货币政策传导机制发挥金融稳增长作用研究”(20YQ14);对外经济贸易大学中央高校基本科研业务费专项资金资助。

摘　　要：本文基于中国中小银行等金融机构2016年第一季度至2020年第三季度数据,从LPR改革视角研究利率并轨对中小银行风险承担的影响。研究结果发现:利率并轨显著提高了中小银行的风险承担;该种影响在利率并轨后具有显著的动态效应,且存在一定的持续性;从作用机制上看,利率并轨会通过净利息收入和风险偏好两个机制提高中小银行风险承担。监管当局可以采取优化存款利率监管和完善中小银行FTP机制等举措,发挥LPR改革疏通货币政策传导机制的潜力。Based on the data of financial institutions such as small and medium-sized banks in China during the first quarter of 2016-the third quarter of 2020,this paper researches the impact of interest rate consolidation on the risk-taking of small and medium-sized banks from the perspective of LPR reform.The research results show that the interest rate consolidation significantly improves the risk-taking of small and medium-sized banks;the improvement has a significant dynamic effect after the interest rate consolidation,and is persistent to a certain degree;from the perspective of mechanism,the interest rate consolidation can improve the risk-taking of small and medium-sized banks through net interest income and risk preference.The regulatory authorities can take measures such as optimizing the supervision of deposit interest rates and improving the FTP mechanism for small and medium-sized banks to give full play to the potential of the LPR reform to unblock the monetary policy transmission mechanism.

关 键 词：利率并轨 中小银行 风险承担 LPR 

分 类 号：F832.4[经济管理—金融学] F832.3F272.3