信贷规模规避与货币政策调控

Aversion of Credit Scale and Monetary Policy Regulation

随着紧缩性宏观经济调控措施的不断出台,我国商业银行的货币信贷投放行为受到抑制。在此背景下,商业银行转而加强与信托公司合作,规避信贷规模管理。本文在分析近期信贷规模规避典型模式的基础上,探讨了其对货币政策调控的具体影响和未来挑战。本文认为,应强化对货币信贷的统计分析,丰富货币政策工具,密切关注金融创新对货币政策的影响,充分考虑微观主体对各种宏观调控政策的博弈,从而有的放矢地制定出科学的宏观调控政策。

With the enactment of a series of stringent macro-economic regulations,monetary credit availability of our commercial banks has been constrained. Under these circumstances,commercial banks start to reinforce cooperation with trust companies to avoid credit scale management. On the basis of analysis of the recent classic credit scale aversion mode,this paper studies its impact on monetary policy regulations and the future challenges. This paper holds the view that statistical analysis of monetary credit should be enhanced,monetary policy tools should be enriched. We must keep a keen eye on the impacts of financial innovation on monetary policies,and take the game between micro-entities and macro regulation policies into consideration to conceive scientific macro regulation policies.