基于系统性风险防范的金融压力测试新理念

The New Thought of Financial Stress Test Based on the Prevention of Systemic Financial Risk

宏观审慎管理反映了金融风险管理的未来发展趋势,赋予金融压力测试新的理念。宏观压力测试是实现宏观审慎管理和防范系统性风险的重要工具。为了防范系统性风险,宏观压力测试应重点考虑金融业的顺周期效应、金融机构的资产相关性和系统性金融风险的内生性因素。

Macro--prudential regulation reflects the development trends of financial risk management and macro stress test is an important tool to realize the Macro-prudential regulation and prevention of systemic financial risk. Macro stress test can assess potential influence of macroeconomic fluctuation on test object, so as to realize the early warning of financial systemic risk in macro-prudential regulation system. Macro-prudential regulation framework gives stress test more connotation. Macro stress testing based on the prevention of systematic risk has profound connotation, which should focus on the pro-cyclical effects of the financial industry, asset correlations of financial institutions and endogenous factors of systemic financial risks.