流动性过剩下美国次贷危机的原因与借鉴

Causes and Lessons of Sub-prime Mortgage Crisis in the United States with the Background of Excess Liquidity

2007年美国的次贷危机展现了现代金融风险错综复杂的特征。反思危机,本文认为在流动性过剩背景下,为追求利润的持续快速增长,商业银行很容易出现过度竞争,放松信贷标准,盲目扩大贷款客户群体,追逐高风险、高收益的投资品种和业务创新。对照我国银行业面临的宏观形势,流动性过剩也是困扰我国商业银行持续盈利和发展的一个外在因素。因此,借鉴美国次贷危机,作者提出以下建议:密切关注客观经济形势;加强内控制度建设,强化审慎合规经营理念;高度重视住房抵押贷款的风险;加速资产证券化的试点和推广,有效分散信贷风险;切实做好风险防范,加强全面风险管理;严格信贷标准和要求等。

The sub-prime mortgage crisis in the United States, erupted in 2007, shows the complicated characters of modern finan- cial risks. With reflection of the crisis, the author argues that under the excess liquidity, commercial banks easily incline to exces- sively compete to keep profit＇s fast growth, by loosing the credit standards, blindly broadening the loan customer group and pursuing the investment instruments with high income followed by high risk and other business innovations. Given the current macro-econom- ic situation in China, excess liquidity is also an external factor that restricts Chinese commercial banks＇ continued profitability and development. Therefore, drawing lessons from the crisis, the author puts forward the following suggestions： closely following the overall macro-economic trend, strengthening the construction of internal control mechanism, emphasizing the concept of prudence and compliance, paying close attention to the mortgage risks, improving the trial operation and expansion of the asset securitization business to effectively divert risks, making adequate precaution against risks by using eomprehenslve risk management and laying down strict credit standards and requirements.