我国存款保险制度发挥了早期纠正作用吗?——基于差别化费率变动视角的分析  

Does China's Deposit Insurance System Play the Prompt Corrective Action Role?--Evidence from Differential Rate Changes

作　　者：秦晓雨 明雷[2] QinXiaoyu;Ming Lei(School of Finance,Shanghai University of Finance and Economics;School of Finance and Statistics,Hunan University)

机构地区：[1]上海财经大学金融学院 [2]湖南大学金融与统计学院

出　　处：《国际金融研究》2023年第6期86-96,共11页Studies of International Finance

基　　金：国家自然科学基金青年项目“考虑监管惩罚与标的资产流动性的存款保险定价研究”(71903051),国家自然科学基金重大项目“互联网环境中金融市场效率与监管理论”(71790593);国家自然科学基金面上项目“数字金融创新背景下微观主体跨期资产配置”(72171078)资助;中国博士后基金面上项目“中国银行业金融科技水平测度及其对银行影响研究”(2022M713448)。

摘　　要：我国自2015年建立存款保险制度以来,就把早期纠正作用作为其两大基本职能之一。早期纠正机制的措施复杂多样,且不可观测、难以度量。本文通过119家农村中小银行真实存款保险费率的微观数据,基于风险差别化费率调整的视角测度存款保险制度的早期纠正作用,并检验其对银行风险承担的影响,评估其整体有效性。研究表明:差别化费率对应银行风险评级,在上期费率的监管约束下,农村中小银行的主动风险承担和破产风险都有所下降;早期纠正作用对于高风险银行的风险约束效果更为明显,即“高费率”纠正了“高风险”。此外,早期纠正机制没有产生副作用,在纠正高风险银行的同时并未激励低风险的银行冒险经营;外部金融环境的改善更有利于早期纠正作用的发挥。Prompt corrective action and risk disposal are the two basic functions of deposit insurance system.The prompt corrective action provides a buffer for deposit insurance institutions and cooperate with regulators to intervene in advance to curb the concealment and spread of risks.Since 2015,China has established the deposit insurance system and actively explored the exertion of the function.Meanwhile,several bank risk events have attached great importance to the role of the prompt corrective action.It is increasingly important to figure out how to distinguish and correct high-risk institutions in practice.Based on the unique data of 119 small and medium-sized banks'real deposit insurance rates,this paper measures the effect of prompt corrective action from the perspective of risk diferential rate adjustment,examines its impact on banks'risk taking,and then evaluates the effectiveness of China's deposit insurance system.The result shows that the differential rate corresponds to the risk rating of banks.Under the regulatory constraints of the previous rate,the active risk-taking and bankruptcy risk of banks have decreased.And the effect is more obvious for high-risk banks,that is,"high fee"corrects"high risk".Meanwhile,it is found that the deposit insurance system has no side effect.While correcting the high-risk banks,it does not encourage the low-risk banks to take risks.The improvement of external financial environment is more conducive to the release of early correction.The establishment of the deposit insurance system has improved the construction of China's financial market,strengthened regulatory constraints and market discipline.The collection of differentiated rates and the introduction of prompt correction action have brought effective inhibition to the risk bearing of small and medium-sized banks.The deposit insurance system should be further improved,the risk early warning mechanism of problem banks should be clarified and improved,and the independence of regulators and their coordination with other finan

关 键 词：存款保险制度 早期纠正机制 差别化费率 银行风险承担 农村中小银行 

分 类 号：F832[经济管理—金融学]