本文選題：影子銀行 + 商業(yè)銀行��； 參考：《武漢大學(xué)》2014年博士論文

【摘要】：當(dāng)社會(huì)的信用需求超過商業(yè)銀行的信用供給能力,脫離監(jiān)管的影子銀行應(yīng)運(yùn)而生。利率市場(chǎng)化改革帶來的商業(yè)銀行負(fù)債壓力增大、貸存比居高不下、資本監(jiān)管日趨嚴(yán)格等問題,使得商業(yè)銀行的發(fā)展在短期倍受制衡；與此同時(shí),非銀行金融機(jī)構(gòu)大量的資本有尋求自身價(jià)值的內(nèi)在沖動(dòng),在這兩方面的作用下,影子銀行的規(guī)模在我國(guó)不斷擴(kuò)大。不可否認(rèn),影子銀行對(duì)促進(jìn)中國(guó)經(jīng)濟(jì)發(fā)展毫無疑問具有一定積極作用,但是其蘊(yùn)涵的巨大風(fēng)險(xiǎn)更加不容忽視。從世界金融市場(chǎng)發(fā)展的視野來看,我們正在走過歐美發(fā)達(dá)國(guó)家曾經(jīng)走過的路徑,經(jīng)歷融資結(jié)構(gòu)的調(diào)整帶來的再平衡的過程。也許當(dāng)這個(gè)度掌握得合適,經(jīng)濟(jì)的增長(zhǎng)會(huì)更有質(zhì)量；也許當(dāng)這個(gè)度掌握得不合適,金融風(fēng)險(xiǎn)已經(jīng)悄然潛伏。因此,影子銀行的風(fēng)險(xiǎn)管理,實(shí)際上是一個(gè)嶄新的課題,既有可以借鑒的海外經(jīng)驗(yàn),又有我國(guó)獨(dú)有的國(guó)情,值得我們深入探討,并從中尋找創(chuàng)新發(fā)展的方向與著力點(diǎn)。 目前,國(guó)內(nèi)學(xué)者對(duì)于影子銀行的研究,已經(jīng)取得一定的成果。在此基礎(chǔ)上,我們進(jìn)一步將影子銀行分為商業(yè)銀行中的影子銀行,非銀行金融機(jī)構(gòu)中的影子銀行以及非正規(guī)金融的影子銀行三大類。由于非正規(guī)金融在我國(guó)的監(jiān)管才剛剛起步,無法收集數(shù)據(jù)和資料,因此,我們將重點(diǎn)放在前兩類影子銀行的風(fēng)險(xiǎn)識(shí)別和控制,并提出對(duì)于影子銀行風(fēng)險(xiǎn)管理的政策建議。本文的主要工作如下： 第一,對(duì)中美影子銀行的起源、定義、風(fēng)險(xiǎn)和監(jiān)管進(jìn)行了比較分析,總結(jié)了中國(guó)影子銀行的基本特征,為中國(guó)影子銀行的風(fēng)險(xiǎn)管理分析找準(zhǔn)目標(biāo),并提供分析的實(shí)踐案例和理論基礎(chǔ)。 第二,研究了商業(yè)銀行中影子銀行業(yè)務(wù)中的風(fēng)險(xiǎn),著力于分析其中風(fēng)險(xiǎn)信號(hào)的識(shí)別,風(fēng)險(xiǎn)程度的測(cè)算和風(fēng)險(xiǎn)危害的控制,并通過量化分析,具體提出可能出現(xiàn)最大風(fēng)險(xiǎn)的地方。 第三,分析了非銀行金融機(jī)構(gòu)影子銀行業(yè)務(wù)中的風(fēng)險(xiǎn),首先分析了主要的非銀行金融機(jī)構(gòu)中的影子銀行業(yè)務(wù)及其風(fēng)險(xiǎn)類別,其次根據(jù)收集的數(shù)據(jù)具體測(cè)算了信托業(yè)務(wù)的風(fēng)險(xiǎn),并由此探討了影子銀行風(fēng)險(xiǎn)爆發(fā)的危害程度,以及防控的著力點(diǎn)。 第四,通過上文的分析和測(cè)算,提出優(yōu)化監(jiān)管體系的建議,從政府的金融改革方向、行業(yè)的資金套利沖動(dòng)和企業(yè)的合規(guī)體系的建設(shè)三方面入手,對(duì)影子銀行的風(fēng)險(xiǎn)進(jìn)行全方面的監(jiān)管,目的是將影子銀行的風(fēng)險(xiǎn)化解在金融體系內(nèi)部。 總的來說,本文從分析我國(guó)影子銀行自身的特點(diǎn)和問題出發(fā),結(jié)合筆者二十多年的商業(yè)銀行經(jīng)營(yíng)管理經(jīng)驗(yàn),來深入分析我國(guó)影子銀行體系的風(fēng)險(xiǎn)控制理論和化解經(jīng)驗(yàn)。我國(guó)需要通過循序漸進(jìn)的宏觀政策調(diào)整來逐步化解不同金融機(jī)構(gòu)利用影子銀行業(yè)務(wù)賺取利潤(rùn)的沖動(dòng),這其中,最重要的有兩點(diǎn),一是我國(guó)要推行市場(chǎng)化的利率制度,不可否認(rèn),我國(guó)近期已經(jīng)開始試點(diǎn)利率市場(chǎng)化,并將原先固定的存貸款基準(zhǔn)利率改為有上下限,可浮動(dòng)的利率,但是與我國(guó)不斷創(chuàng)新的金融產(chǎn)品和體系相比,還存在一定的差距,因此,只有利率水平能真正反映金融市場(chǎng)中對(duì)資金的需求,才能減少影子銀行體系的風(fēng)險(xiǎn)。二是資產(chǎn)證券化的實(shí)施一定要在制度建設(shè)上解決金融創(chuàng)新與風(fēng)險(xiǎn)控制之間的矛盾。影子銀行的未來出路必然是日益得到大家重視的資產(chǎn)證券化業(yè)務(wù),但是不論何種金融創(chuàng)新,都必須是在風(fēng)險(xiǎn)可控的范圍內(nèi)進(jìn)行的金融活動(dòng),而不能是照搬國(guó)外,要做到在風(fēng)險(xiǎn)上能收縮自如,才能將金融風(fēng)險(xiǎn)控制到最小,并且盡量切斷與實(shí)體經(jīng)濟(jì)間的傳遞途徑,讓金融創(chuàng)新真正為經(jīng)濟(jì)社會(huì)的發(fā)展服務(wù)。
[Abstract]:When the credit demand of the society exceeds the credit supply capacity of the commercial bank, the shadow bank, which is divorced from supervision, arises at the historic moment. The debt pressure of the commercial banks, which is brought by the interest rate marketization reform, is increasing, the loan to deposit ratio is high, the capital supervision is increasingly strict and so on, which makes the development of the commercial bank balance in the short term; at the same time, the non bank gold is not available. A large amount of capital has an intrinsic impulse to seek its own value. Under these two aspects, the size of the shadow bank is expanding in our country. It is undeniable that the shadow bank has no doubt that it has a certain positive effect on promoting the development of China's economy, but its great risks can not be ignored. The development of the world financial market is not to be ignored. In view of our vision, we are walking through the path that developed countries in Europe and America have passed through the rebalancing process of the adjustment of the financing structure. Perhaps when the degree is appropriate, the economic growth will be more quality; perhaps when this degree is not properly mastered, financial risk has quietly latent. Therefore, the risk management of the shadow banking, In fact, it is a new subject, both of the overseas experience that can be used for reference, and the unique national conditions of our country, which deserves our thorough discussion, and seeks the direction and focus of the innovation and development from it.
At present, the domestic scholars have made some achievements in the research of the shadow banking. On this basis, we further divide the shadow bank into the shadow Bank of the commercial banks, the shadow banks in the non bank financial institutions and the shadow banking of the informal finance, which have just started in the regulation of the informal finance in China. We can not collect data and data, therefore, we will focus on the risk identification and control of the first two types of shadow banks, and put forward the policy recommendations for the shadow banking risk management. The main work of this paper is as follows:
First, this paper makes a comparative analysis of the origin, definition, risk and supervision of the shadow Bank of China and the United States, summarizes the basic characteristics of the shadow Bank of China, finds the target for the risk management analysis of the shadow Bank of China, and provides the practical case and theoretical basis for the analysis.
Second, the risk of the shadow banking business in commercial banks is studied, and the identification of the risk signals, the measurement of the risk degree and the control of the risk hazard are analyzed, and the place where the greatest risk may occur is put forward by quantitative analysis.
Third, the risk in the shadow banking business of non bank financial institutions is analyzed. First, the shadow banking business and the risk categories in the main non bank financial institutions are analyzed. Secondly, the risk of the trust business is calculated according to the collected data, and the hazard degree of the shadow banking risk is discussed, as well as the focus of prevention and control. Point.
Fourth, through the analysis and calculation of the above, the suggestions of optimizing the supervision system are put forward. From the direction of the government's financial reform, the capital arbitrage impulse of the industry and the construction of the compliance system of the enterprise, the risk of the shadow bank is regulated in all aspects. The aim is to dissolve the risks of the shadow bank to the internal financial system.
In general, based on the analysis of the characteristics and problems of the shadow banking itself, this paper analyzes the risk control theory and the dissolving experience of the shadow banking system in our country with the experience of more than 20 years' commercial bank management and management. The most important of these is the impulse to make profit by the shadow banking business. One is that our country should carry out the market-oriented interest rate system. It is undeniable that our country has begun to pilot interest rate marketization in the near future, and change the original fixed deposit and loan benchmark interest rate into the upper and lower limit, the floating interest rate, but the continuous innovation of our country's financial production. Compared with the system, there are still a certain gap. Therefore, only the interest rate can truly reflect the demand for funds in the financial market, and the risk of the shadow banking system can be reduced. Two, the implementation of asset securitization must solve the contradiction between financial innovation and risk control system in the system construction. The future outlet of the shadow bank is inevitable It is an asset securitization business which has been paid more and more attention, but no matter what kind of financial innovation, it must be a financial activity in the range of risk control, but it can not be copied from abroad. It is necessary to minimize the financial risk in order to minimize the financial risk, and try to cut off the way of transmission between the real economy and the real economy. Financial innovation really serves the development of the economy and society.

【學(xué)位授予單位】：武漢大學(xué)
【學(xué)位級(jí)別】：博士
【學(xué)位授予年份】：2014
【分類號(hào)】：F832.3

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