《新巴塞尔协议》的市场约束监管与货币政策传导的信贷渠道

The Market Discipline in the Basel II and the Credit Channel of the Monetary Policy Transmission

在《新巴塞尔协议》下对银行的资本充足率进行市场约束监管,将会产生货币政策传导的银行资产负债表渠道。其原因主要是在信息不对称的市场中,在银行和存款人之间将会产生道德风险,这将影响到银行从存款人那里吸收存款,进而影响银行的贷款。因此,在对银行的资本充足率进行市场约束监管,公开银行的资本充足率等关键信息的情况下,当银行的资本越充足时,在银行和存款人之间产生的道德风险越少,银行就会越容易从存款人那里吸收到资金,进而会发放更多的贷款。反之,则相反。本文采用模型的分析方法对这一问题进行了深入的探讨。最后,本文就我国的情况进行了分析,认为随着国家对国有独资银行的信用担保的退出和我国新颁布的《商业银行资本充足率管理办法》的实施,我国将极有可能产生货币政策传导的银行资产负债表渠道。

The market discipline in the BaselⅡwill cause the bank capital channel o f the monetary policy transmission.Because of the imperfect informatio n,There is a morality risk between th e bank and depositor,and it will have a impact on the deposit of the bank and the loan of the bank.When the bank declares the r atio of the bank capital to the bank assets,the bigger the ration is,the more the ban k can attract deposit.The smaller th e ration is,the less the bank can attr act deposit.The paper analyzes the issue by the me ans of model.At the end,The paper shows it is possible there would be a bank capital channel of the monetary policy transmission in the China,When the govern ment does not support the state bank a fter using the new management measures about the ca pital of bank.