Study On Challenge & Cooperation Between Money Policy And Financial Supervision For Central Bank

With the quickening of the process of financial globalization and economy integration, our country in transformation period faces more severe challenge with financial supervision and economic development. Development is the absolute principle, the stability is a prerequisite and guaranteeing of development, the stability is the developing stability. So, the economy of China while going through transition must face developing and safe request. Since last century the 1990s, the international crisis of financial market rose from all around, have caused a series of great international finance incidents. This not merely exerts a very serious influence for financial institution, financial market and financial development, even cause a country or a regional economic crisis, but also put forward an important problem for people, namely how to implement effective supervision to financial circles in the modern market economy with higher and higher monetary degree. Besides, our country still faces the important historical task of putting forth effort to develop the economic. The monetary policy is the main means of macroeconomic regulation and control of our country, the effective full play of the monetary policy is the foundation of the macroeconomic adjustment and control. Because in the monetary policy and financial supervision, the difference between purpose, operation and implementation method exist, there are conflicts in them. Because of the contradiction and conflict in Central Bank, business bank, enterprise, this text analyzed the reason of contradiction in monetary policy and financial supervision is the essence of "deposit and loan". Through signals transmit, the theory of optimization, principal-agent theory, analyzed how to build a rational contract relation between the Central Bank and commercial bank in order to realize the commission incentive mechanism to the commercial bank, it also analyzed the game relationship between the enterprise which is the micro subject of the monetary policy and the commercial bank which is the conductor. With the assume of rational people, coordinate interests between commercial bank and enterprise, make the rational monetary policy. This is the essence of the contradiction between monetary policy and financial supervision on the base of the relationship between the Central Bank, commercial bank and enterprise. But the consistency of the final purpose is making the national economic and finance develop continuously and healthily, which composes the cooperative foundation and condition between them. In the game model that analyze the "cherish loan" of the bank, we can find the designation of cooperative mechanism of the two. At the same time, strengthen the economic system reform, perfect the reform of the corporation manage mechanism of the state-owned enterprise, form the good microeconomic subject,; strengthen and deepen financial system reform, make the commercial bank become the financial enterprise in a real meaning which possess the overall sense of risk, structure the effective mechanism to discern and monitor risk.