资管新规下影子银行的风险识别和监管工具

Risk Identification and Supervisory Tools for Shadow Banking Under the New Capital Management Regulation

我国影子银行具有流动性风险、高信用风险和潜在系统性风险特征。从学理定义和业务特点的角度分析影子银行的成因和风险来源,明晰影子银行与传统银行的关系。在分析全球影子银行治理态势,借鉴FSB治理建议的基础上,提出以证监会监管为中心,开发影子银行监管新工具的学理建议。

China's shadow banking is characterized by liquidity risk,high credit risk and potential systemic risk.This paper analyzes the causes and sources of risks of shadow banking from the perspective of theoretical definition and business characteristics,and clarifies the relationship between shadow banking and traditional banks.On the basis of analyzing the global shadow banking governance situation and drawing on the FSB's governance recommendations,it provides theoretical recommendations for China to develop new tools for shadow banking regulation centered on the supervision of the Securities and Futures Commission.