贷款定价变锚LPR给中小商业银行带来的影响和对策研究

Effects of changing the anchor of loan pricing to LPR on small and medium-sized commercial banks and countermeasures

探讨LPR改革对中小商业银行的影响,对于货币政策的调整和中小商业银行采取应对措施具有重要的理论意义和现实意义。探讨了货币政策对整个银行业与中小商业银行传导机制的差异,并使用久期缺口模型实证分析了变锚LPR后对中小商业银行的影响及中小商业银行应对情况。研究发现人民银行货币政策的传导效应在整个银行业、中小商业银行间有显著差异,并使过度依赖存贷利差的中小商业银行生存空间受到挤压,中小商业银行整体久期缺口波动较大,大部分中小商业银行的久期缺口的调整不能很好地适应LPR的变化。最后,提出了运用股权分享模式降低中小商业银行对中小企业贷款时面临的风险收益不匹配问题的对策建议。

The paper explores the effects of LPR reform on small and medium-sized commercial banks, which has important theoretical and practical significance for the adjustment of monetary policy and for small and medium-sized commercial banks to take countermeasures. It explores the differences in the transmission mechanism of monetary policy for the entire banking industry and small and medium-sized commercial banks, and uses the duration gap model to empirically analyze the effects of changing the anchor of loan pricing to LPR on small and medium-sized commercial banks and their responses. The study finds that transmission effects of the People’s Bank’s monetary policy are significantly different in the entire banking industry and small and medium-sized commercial banks, which squeezes the living space of small and medium-sized commercial banks that are overly dependent on the spread of deposit and loan interest rates. The overall duration gap of small and medium-sized commercial banks fluctuates greatly. The duration gap adjustment of most small and medium-sized commercial banks cannot adapt well to changes in LPR. Finally, it puts forward some countermeasures of lessening the risk-return mismatch faced by small and medium-sized commercial banks when making a loan to small and medium-sized enterprises by using the equity sharing model.