發(fā)布時間：2018-10-21 17:24

【摘要】：監(jiān)管資本套利是指銀行通過資產(chǎn)證券化等金融創(chuàng)新，繞過資本監(jiān)管“粉飾”其資本金實力的行為，其動機(jī)來源于銀行節(jié)約資本稅——經(jīng)濟(jì)資本與監(jiān)管資本之差的內(nèi)在要求。由于巴塞爾協(xié)議資本監(jiān)管框架存在缺陷,監(jiān)管資本套利行為隨之產(chǎn)生，隨后在西方發(fā)達(dá)國家迅速發(fā)展。監(jiān)管資本套利降低了資本監(jiān)管的有效性,加劇了銀行業(yè)的系統(tǒng)性風(fēng)險,并催生了大量的資產(chǎn)證券化產(chǎn)品,成為美國次貸危機(jī)的重要原因。 在我國金融業(yè)尤其是銀行業(yè)的改革發(fā)展過程中，需要及時汲取經(jīng)驗教訓(xùn)。如果拒絕對金融產(chǎn)品進(jìn)行創(chuàng)新來達(dá)到杜絕監(jiān)管資本套利的目的，這不僅使我國金融業(yè)長遠(yuǎn)發(fā)展缺乏動力，而且阻礙了我國融入全球金融一體化的進(jìn)程。因此，現(xiàn)階段在金融監(jiān)管中，尤其要加強(qiáng)對銀行業(yè)的資本監(jiān)管，不僅要提高資本充足率保證監(jiān)管資本充足，，還有促使監(jiān)管資本更充分的反映銀行風(fēng)險，提高資本監(jiān)管質(zhì)量。因此我們要充分考慮到監(jiān)管資本套利存在的風(fēng)險和收益，在不同的階段采取合理措施，在實現(xiàn)監(jiān)管資本套利帶來的好處的同時，切實防范可能產(chǎn)生的危險。
[Abstract]:Regulatory capital arbitrage refers to the bank's behavior of "whitewashing" its capital strength by means of financial innovation such as asset securitization, and its motive is derived from the inherent requirement of the difference between economic capital and regulatory capital. Because of the defects of the Basel capital regulatory framework, the regulatory capital arbitrage came into being, and then developed rapidly in the western developed countries. Regulatory capital arbitrage reduces the effectiveness of capital supervision, exacerbates the systemic risk of banking, and gives birth to a large number of asset securitization products, which has become an important reason for the subprime mortgage crisis in the United States. In the course of the reform and development of our financial industry, especially the banking industry, it is necessary to learn the experience and lessons in time. If we refuse to innovate financial products to achieve the goal of eliminating regulatory capital arbitrage, this will not only make the long-term development of China's financial industry lack power, but also hinder the process of our country's integration into global financial integration. Therefore, in the current financial supervision, especially to strengthen the capital supervision of the banking sector, not only to improve the capital adequacy ratio to ensure the adequacy of regulatory capital, but also to promote the regulatory capital to reflect the risks of banks more fully, improve the quality of capital supervision. Therefore, we should take full account of the risks and benefits of regulatory capital arbitrage, take reasonable measures at different stages, while realizing the benefits of regulatory capital arbitrage, and effectively guard against the possible risks.
【學(xué)位授予單位】：山西財經(jīng)大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2013
【分類號】：F830.9

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