The Research Of Reserve Policy Effect On Commercial Banks Liquidity In China

The deposit reserve ratio is an important tool of monetary policy.It may reveal its role in the process,but also provide recommendations for commercial banks to maintain a good value by taking research on the effects of the liquidity of commercial banks,Based on this,the paper uses 1999--2014 reserve ratio and liquidity of commercial banks for the study of China’s commercial banks’ liquidity situation and analysis stages,get the following conclusions:(1)Effect of foreign exchange by foreign capital and savings than large,and changes in currency domestic money supply and inflation caused by factors affecting mobility.The deposit reserve ratio of commercial banks against liquidity there is not a small impact,its presence and commercial bank liquidity indicators time series unidirectional Granger causality.(2)The first phase of the statutory deposit reserve ratio adjustment for 1999-2008,the second phase 2009-2012.Before the first phase two(January 2006 to February 2006),the deposit reserve ratio lead to the bank loan to deposit ratio reached a maximum,from 3(March 2006)to No.8(2006 August)began to decline and the impact to a minimum;prior to the second stage of the two(second quarter of 2009),the reserve is shown as a negative effect,and the lowest,after the first four(Q4 2009)becomes positive effect in the first 12(4Q11)stabilized.(3)Large banks’ liquidity at all stages by the negative effect in the first four(the fourth quarter of 2002)to reach the maximum,and then decreases 10(second quarter of 2004)after beginning to stabilize;large commercial bank liquidity in the first period(first quarter of 2002)by the negative effect after a positive performance in the first eight(fourth quarter of 2003)to stabilize;medium-sized commercial bank liquidity are at various stages of realization positive impact in the first three(the third quarter of 2002)decreased gradually after the start,in the first seven(third quarter 2003)after almost tends to zero.(4)The eastern region least affected western regions most affected,while the central region of the more obvious fluctuations.Meanwhile,from the direction of the impact point of view,the eastern and western regions showed the opposite characteristics of the central region and the Northeast region belong to the type of volatility,but the conversion process is just the opposite.(5)Commercial bank angle should strengthen its daily liquidity management,to build a sound stress testing mechanism and system,the reform of the management strategy;financial regulatory perspective should strengthen the deposit reserve system on a macro-policy implementation,deepening the difference between the deposit reserve microscopically reform of the system.