银行发行创新型资本补充工具的监管要求、条款比较及定价分析

Regulatory Requirements, Clauses Comparison and Pricing Analysis on Innovative Capital Supplementation Instruments of Banks

银行发行创新型资本补充工具有利于提高其抗风险能力、促进货币政策向实体经济传导。文章回顾了银行发行创新型资本补充工具的监管背景,深度对比了各类工具的监管要求及条款差异,并分析了当前创新型资本补充工具的市场发行与定价情况,指出随着基本制度建设和市场化发行机制的不断完善,未来将有更多的长期投资者参与创新型资本补充工具市场。

By issuing innovative capital supplementation instruments, banks can improve their ability to resist risks and promote the transmission of monetary policy to the real economy. The article reviews the regulatory background of the issuance of innovative capital supplementation instruments, conducts an in-depth comparison between the regulatory requirements and clauses of various instruments, and analyzes the issuing and pricing of the existing innovative capital supplementation instruments. It points out that with the establishment of the fundamental system and the continuous improvement of the market-based issuance mechanism, more and more long-term investors will participate in the innovative capital supplementation instrument market in the future.