金融安全视角下商业银行流动性风险监管路径选择

Regulatory Path Selection of Commercial Banks' Liquidity Risk from a Financial Security View

金融安全的重要性在我国经济转型期日益增强,流动性风险是商业银行固有的风险类型,具有突发性强、破坏性大的特点,为保证金融体系的安全运行,必须重视流动性风险的监管。通过构建我国商业银行流动性风险监管与金融安全性的向量自回归(VAR)模型,对两者之间的动态影响机制进行了实证分析,结果表明流动性风险监管与金融安全性之间存在着动态的相互促进关系。据此,基于金融安全的视角,从强化流动性风险宏观审慎监管、建立动态的流动性风险逆周期监管机制和适度扩大流动性风险监管范围三个方面对商业银行流动性风险监管的实施路径提出了建议。

The importance of financial security is increasing in the period of economic transformation in China.Liquidity risk is an inherent risk of commercial banks and it has characteristics of suddenness and destructiveness.In order to ensure the security of the financial system,we must attach importance to the regulation of liquidity risk.This paper constructs a vector auto-regression model for liquidity risk regulation and financial security of commercial banks in China. The empirical analysis shows that a dynamic mutual promotion relationship exists between financial security and liquidity risk regulation. This paper discusses the implementation path of liquidity risk regulation of commercial banks from a financial security view,and puts forward some suggestions from three aspects： macro prudential regulation has the same importance as micro prudential regulation; the counter-cyclical dynamic regulatory mechanism of liquidity risk should be established; the scope of liquidity risk regulation should be expanded.