影子银行业务如何影响商业银行风险承担?——考虑影子银行业务异质性及金融监管力度

How Does Shadow Banking Affect Commercial Bank Risk Exposure?——Considering Shadow Banking Heterogeneity and Financial Supervision

本文从银行表内和表外的影子银行业务出发,考虑其最新业务进展及监管动向,利用微观层面数据开展研究。结果发现:(1)商业银行从事影子银行业务最为核心的动力是减少资本消耗;(2)影子银行业务及金融监管力度均显著增加了商业银行风险,其中影子银行业务存在异质性,表内业务起主导作用,表外业务对商业银行的风险承担影响不显著。金融监管力度的加强降低了资产收益率,并提高其波动水平。

This paper start from the shadow banking business within and outside the bank＇s balance sheet,and consider its latest business progress and regulatory trends, and use micro-level data to conduct research. The measurement results are found in the following two parts： （1） The core motivation for commercial banks to engage in shadow banking is to reduce the consumption of capital adequacy. （2）The shadow banking business and financial supervision have both significantly increased the risk of commercial banks. This is mainly due to the fact that the shadow banking business on the sheet plays a leading role. Off-balance-sheet shadow banking services have no significant effect on the risk exposure of commercial banks. The strengthening of financial supervision has reduced the return on assets of banks and raised the level of fluctuations in asset returns.