金融市场化改革中的商业银行资产负债管理

Bank's Asset-liability Management during the Market-oriented Financial Reform

目前,存贷比指标监管和贷款规模控制扭曲了商业银行的经营行为,在中央银行可以主动吐出基础货币和有充分操作自主权的情况下,有条件取消这两项政策措施,给商业银行资产负债管理的自主权。在此基础上,中央银行应加快利率、汇率市场化进程,完善公开市场政策操作工具,通过调整自身资产负债结构来影响商业银行的资产负债管理行为。商业银行在此过程中,则应当实现真正的市场化转型,构建财务硬约束机制,强化以资本管理为先导的资产负债管理体系,提升资产负债管理的技术能力。同时正本清源,冷静看待经营转型与金融创新,培育诚信务实的经营管理文化。

At present loan- to- deposit ratio and scale of loan as supervisory indicators distort the behavior of commercial banks. Conditional cancel the two indicators on the basis that central bank release the monetary base and have full operational autonomy will give more autonomy to bank asset- liability management. On this basis central bank should accelerate the process of marketization of interest and exchange rate, improve open market operation so as to adjust the structure of its assets and liabilities to affect asset - li^J~ility management of commercial banks. In the process, commercial banks should realize the real market - oriented transformation, build financial hard constraint mechanism, enforce capital management- led assets -liabilities management system and promote tecimical ability of asset - liability management. At the same time, commercial banks should reform radically, view operational transformation and financial innovation calmly, and cultivate good faith and pragmatic spirit management culture.