后危机时代金融创新与风险管理的协调发展

The Coordinated Development of Financial Innovation and Risk Management in the Post-Crisis Era

后金融危机时代中国银行业将面临新的挑战。本文从市场环境的变化和创新需求的动力入手得出创新是中国银行业提升可持续盈利能力的动力,但应遵循理性的金融创新路径,必须与经济发展的程度、金融发展水平、金融体系防范风险的能力相匹配。基于此,本文提出了如下金融创新和风险控制相结合的对策:加强金融监管,扩大监管范围,注重金融创新中的风险隔离和业务独立,优化金融创新的激励约束机制,建立相应的金融技术支持体系,规范中介机构的行为,加强金融业的国际合作,强化对表外业务的风险监控和管理,以及提高衍生品的资本要求和准入限制等。

Chinese banking will face new challenges in the post-crisis era. After analyzing the change of market environment and the driving force of demand for innovation, the paper concludes that innovation is the motive power for Chinese banking to improve its sustainable profitability. A rational financial innovation path should be insisted, and financial innovation should keep in line with economic development, financial development and the capability of financial system to prevent risks. Then the paper puts forward the following counter-measures to combine financial innovation and risk control： strengthening financial regulation, expanding regulation scope, paying attention to risk isolation and business independence in the process of innovation, optimizing incentive and restraint mechanism for financial innovation, establishing necessary financial technology support system, regulating the behavior of intermediary institutions, enhancing the international cooperation among financial industries, emphasizing risk monitoring and management on off-balance business and improving capital requirements and access restriction on derivatives.