| The deposit reserve policy,as one of the monetary policy tools, It has the outstanding effect, quick speed, but it is easy to bring enormous vibration in the financial institutions,because of its existence effect more intense. This policy is rarely used or the rate is adjusted to 0 in some western developed countries. Some of the western developed countries have even no provision for the deposit reserve. However, due to the China's financial markets are not well developed, development of commercial Banks are not perfect, the effective monetary policy tools which are used to reply to the economical problem are not much. Especially in recent years, the central bank effectively control overheating, solve problems such as excess liquidity and mitigate the economic pressure which is from inflation by adjust the deposit reserve rate frequently. From June 2006 to July 2007, the central bank has adjusted continuously the deposit reserve rate up to 13 times, the legal deposit reserve rate rose nearly 6 percentage points. Our country adjust the deposit reserve rate in small range, high frequency in order to stabilize finance economic development,alleviate the influence to the finance industry in China which brought by the subprime mortgage crisis.Our country so often adjust reserve rate, the commercial Banks' liquidity adjustment effect exactly how much, whether the long-term effective, this paper further research on this problem. The article gets a lot of datas through searching the annual reports of each big commercial banks in order to build model with the deposit reserve rate of change and the commercial bank liquidity .The model is used to analyze the influence of the commercial Banks's liquidity responsed to the adjustment of the deposit reserve rate.We can know the reaction of China's economy resposed to the policy get step further.Meanwhile I put forward some suggestions that puts on the deposit reserve policy, in order to make our country economic stability and efficient development . |
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