金融科技视角下货币政策对银行信贷风险的影响

The Impact of Monetary Policy on Bank Credit Risk from a Fintech Perspective

本文利用2011-2020年中国20家商业银行的平衡面板数据作为样本集来研究金融科技在货币政策对商业银行信贷风险影响过程中的调节作用以及在不同类型商业银行中的异质性情况。实证结果表明金融科技会减弱货币政策对商业银行信贷风险造成的影响;金融科技对城市商业银行具有显著的调节作用,对全国股份制商业银行和国有银行影响不明显。因此,中央银行应该更加深入的了解金融科技对货币传导机制的影响,考虑对不同类别商业银行实行差异化的货币政策。

This paper uses balanced panel data of 20 commercial banks in China from 2011 to 2020 as a sample set to investigate the moderating effect of Fintech in the impact of monetary policy on commercial banks’credit risk and the heterogeneity among different types of commercial banks.The empirical results show that Fintech attenuates the impact of monetary policy on commercial banks’credit risk;Fintech has a significant moderating effect on urban commercial banks,and an insignificant effect on national joint-stock commercial banks and state-owned banks.Therefore,central bank should have a deeper understanding of the impact of Fintech on the monetary transmission mechanism and consider differentiated monetary policies for different types of commercial banks.