欠发达地区利率市场化应对策略:微观机理与宏观调控

The Responding Strategy of Interest Rate Marketization in Less-developed Areas:Micro Mechanism and Macro Regulation and Control

欠发达地区利率市场化进程中的主要问题是,存款利率的上升、贷款利率的下降,是银行业金融机构特别是小型农村金融机构迫于同业竞争压力作出的调整,并非这些金融机构因盈利能力增强而主动提高存款利率、降低贷款利率;其后果是这些机构的资产利润率同步下降,是难以为继的。因此,在利率市场化进程中,宏观调控、监管部门的职责重点应是推进建立公平竞争、顺畅进出的金融市场;目前应适当放松对实体银行业金融机构的监管,使其在与互联网金融等机构竞争中保持大体公平的地位。大型银行的任务应是建立健全内部资金转移价格体系,尽快形成全覆盖的财务(预算)硬约束。新进入市场的区域性中小型银行应避免为片面追求增长速度而进行不正当竞争。小型农村金融机构应理性对待利率市场化条件下的竞争新格局,审时度势,收缩低效率低收益业务。

The main problems of the interest rate marketization process in the less developed areas are the raising of deposit interest rates and lowering of the loan interest rates, which is an adjustment made by banking sector institutions, especially small rural financial institutions under the pressure of counterpart competition rather than their initiative action under their uprising gains. The result is the synchronized downfall of the asset profit ratio of these agencies and it' s impossible to develop. So, in the process of interest rate marketization, the priority of macro regulation and control and regulators should be focused on pushing the establishment of fair competition and smooth admission system. At present the supervision on the entity banking financial institutions should be loosened to keep a relatively fair position in competition with the internet financial institutions. Large banks' task is to establish and perfect the internal funds transfer pricing system and form a full coverage of hard financial(budget) constraints. Small and medium-sized banks newly entering the market should avoid unfair competition for the one-sided pursuit of growth rate. Small rural financial institutions should be rational to the new pattern of competition under the condition of the interest rate marketization, contract low efficiency and low income business and actively remise market share according to the reality.