Structural Monetary Policy Impact On Commercial Bank Credit Risk Analysis

Monetary policy is the central bank to achieve the set goals,using various tools to regulate money supply to adjust market interest rates,changes in market interest rates through capital investments to influence all kinds of economies,thereby affecting the overall macroeconomic impact of demand various measures phalanx.His goals include:full employment,economic growth,price stability and balance of international payments.In order to achieve or maintain these objectives,the central bank will use to adjust the total demand of the three traditional monetary policy tools,the statutory reserve ratio,open market operations and discount policy.In the operation of China's market economy and finance development,commercial bank is the core subject of financial system and national economy.It plays an important role to promote the operation of financial system.In recent years,in order to improve the effectiveness of China's monetary policy,targeted and prospective,central banks have implemented special deposits,orientation notes issued,the difference between the deposit reserve ratio and increase the refinancing of the swap area,giving priority to small and medium bills discounted and other monetary policy has a strong regulatory role of the structure.Especially since2011,China's central bank enabled the difference in the deposit reserve ratio dynamic adjustment,efforts to improve the relevance and effectiveness of monetary policy.Led thinking and research on monetary policy,structural problems.In fact,due to the existence of objective,economic structural effects in different market difference is significant monetary policy exists.Meanwhile,the market frictions and market failure exists,selectively adopt some structural monetary policy tools in China's current economic and market conditions are also feasible.Credit risk is the main risk faced by commercial banks,which has formed a number of reasons,but the role of monetary policy in the economy greatly affects the risk of commercial banks,especially credit risk,monetary policy not only affects the quality of loans and financial asset prices,and the impact on the market adversely affect the monetary policy.Based on this study the effect of the structural monetary policy in order to accurately grasp the intensity of monetary policy implementation and the overall economic effect of the direction of monetary policy can not be ignored for commercial banks transduction affect credit risk to the effect of monetary policy mustbe taken into account.The definition of capital adequacy ratio of "Basel Agreement III" in 2010 enhance commercial banks' attention to the risk control in a certain extent,but in the implementation process of the monetary policy always ignored the imapcat of commercial banks' choice in risks to monetary policy's effects.Thus will make the monetary policy conduction variables changed and influce policy conduction efficiency.The outbreak of the global financial crisis is largely due to commercial banks and other financial institutions' increase of risk taking,excessive credit,thus make monetary policy effect deviate from the target.So,the analysis of the primary effects of structural monetary policy to control credit risk of commercial bank is not only play an important role to the monetary policy analysis,but also enhance the effect of macroeconomic regulation and control.This article starts with the theory of monetary policy and structural monetary policy,borrow the practice of structural monetary policy home and abroad,analyze the primary effects of structural monetary policy to control credit risk of commercial bank,also,point out the existing problems and solution ways in order to control credit risk of commercial bank.Thus,offer beneficial reference and experience how to make full use of structural monetary policy to control credit risk of commercial bank in China.In order to make full use of monetary policy structure regulation,the development,implementation and regulation of structural monetary policy instruments should be set up in a multi pronged framework.First,on the basis of the existing deposit reserve ratio system,it is needed to further explore and improve the differential deposit reserve ratio system,enrich its content,implement diversified operation and establish dynamic control system.Second,on the basis of the "distinction,retractable combination" framework,implement refinancing classification and management,strengthen the guidance to credit funds invested agriculture and small and micro field.Three,improve the rediscount policy based on the innovation and development of the notes market,support the prior industry and regional notes,implement preferential discount conditions.Four,further improve the credit guidance policy,improve policy guidance,to play the role of monetary policy structure regulation is the direction of the next phase of the central bank need to work.In addition,with the promotion of current market interest rate and the enhancment of the cost of bank debt,small and micro enterprises facing the accumulation offinancial risk,liquidity in the banking system by short-term factors intensified,in the actual operation should fully learn from European oriented long-term refinancing operation,American time loan auctions,British financing loans for plan international practice,and improve the operation mode and pricing mechanism and incentive mechanism.Select the price based monetary policy tools,to establish and improve the internal collateral rating,improve the incentive compatible system,to promote the process of interest rate market.Fully improve the allocation efficiency of financial resources,play a decisive role in the allocation of resources in the market.