Research On The Liquidity Risk Of Commercial Banks Under The Background Of Interest Rate Liberalization

In the domestic financial market,the banking industry is in the leading position.China's financial system has the characteristics of exogenous,commercial banks and other financial institutions have the characteristics of market segmentation.Commercial banks act as the third parties between the residents and enterprises.And as the absorption of the whole society,Commercial banks absorb the surplus funds and supply liquidity to the real economy.Asset liability management of commercial banks is the key link of saving to investment.Therefore,the endogenous liquidity of commercial banks and the external market liquidity of commercial banks influence each other.The promotion of interest rate marketization will promote the market to withstand the impact of the commercial bank's assets and liabilities at the same time.In the historical period of China's market-oriented interest rate,which basically completed but have not yet been completely market-oriented,analysing the changes in liquidity risk of China's commercial banks has important theoretical significance and practical significance.This paper systematically reviews the relevant research on the liquidity risk of commercial banks at home and abroad and has sorted out the existing literature in aspects of liquidity risk,liquidity risk measurement,interest rate marketization,and so on.On the basis of literature review,this paper discusses the impact mechanism of interest rate marketization on the liquidity risk of commercial banks.In order to comprehensively analyze the changes of the liquidity risk level of commercial banks in the process of marketization of interest rate in China,this paper uses the Copula-Kernel model to measure the endogenous liquidity risk and exogenous liquidity risk.At the same time the paper has compared internal and external sources of liquidity risk level between that of the year of 2010 to the year of 2012 and the year of 2013 to the year of 2015.Besides,the paper analyzes the dynamic impact of interest rate marketization on the level of liquidity of commercial banks by constructing the SVAR model,and finally puts forward the suggestions to deal with the risk management of interest rate marketization.The study found that in the process of marketization of interest rates,for the level of endogenous liquidity risk,the impact of interest rate marketization on the large commercial banks is greater than that on the small and medium commercial banks.For the level of Exogenous liquidity risk,the impact of interest rate marketization on commercial banks is not large,and even has the possibility to make the commercial bank's external financing channels better.In addition,from the impulse response we can conclude that,the impact of market interest rates on the level of liquidity of commercial banks is stronger than that of the non market interest rates.Under the background of interest rate liberalization,the impact of the liquidity level of commercial banks on the interest rate level is weaker than that under the interest rate control.Therefore,in the current environment,besides how to improve the profitability,how to improve the liquidity management technology should become the focus of commercial banks rmanagement.