The Impact Of Financial Disintermediation On Intermediate Business And Bank's Coping Strategies

Financial disintermediation originated in the United States in the 1960s,when the interest rate of the US money market was higher than that of banks and commercial banks,and the banks managed to resolve the "financial disassociation"through financial innovation and the development of intermediary business.crisis.Domestic financial disengagement began in the 1990s,banks need not only to face competition from the industry,but also need to face the competition of other non-silver financial institutions and the impact of the Internet financial.What is the degree of financial dislocation in China?What measures does commercial banks take in the context of declining bank assets and liabilities?If the relevant measures to take,whether the results?What is the correct direction for the development of commercial banks?These are the issues to be studied.Based on the definition of scholars at home and abroad,this paper divides the financial disassociation into generalized disintermediation and narrow media,and measures the degree of financial dislocation and related characteristics in the generalized financial disassociation level.In the narrow financial distress level Measure the impact of financial disintermediation on the bank's intermediary business.The results show that there is asymmetry in China's financial disassociation,that is,there is a situation in which the dislocation of the bank is not obvious,and the financial disassociation is not obvious.Moreover,the debt end of the trend is more significant,while the end of the assets of the more volatile trend.The results of financial disassociation on the middle bank business show that financial disassociation can significantly promote the development of commercial banks'intermediary business.Therefore,in the context of financial disintermediation,our commercial banks should vigorously develop the intermediary business.Some of the domestic banks have realized the importance of the middle business,is vigorously developing the intermediary business,the intermediary business income growth rate is much higher than the traditional interest income growth rate.Based on the previous studies,this paper takes into account the variability of the financial environment and the semi-annual data of 16 listed commercial banks in 2006-2016.Since the main body of financial disassociation is commercial banks,the focus of this paper is also studied Commercial bank disassociation,so this paper in the measurement of financial disintermediation of the impact of commercial banks in the middle of the business are selected specific bank data to be empirical.Moreover,taking into account the differences between China and foreign financial markets,this paper is also in the financial out of the middle of the business impact of the empirical process,the innovative political factors-non-state ownership share.Finally,in order to take into account the comprehensiveness of the definition of financial disassociation,some of the data in the empirical test link from the macro level(generalized financial disintermediation)analysis of China's financial disintermediation,macro micro-combination and strictly distinguish between different dimensions of data,making the results more Persuasive.Europe and the United States developed countries accounted for about 60%of the middle business,while China's intermediary business accounted for only about 30%.The middle business is the key to the future development of the bank,and the commercial business of China's commercial banks in terms of quantity or quality,are in the initial stage,China's commercial banks need to change the strategic direction as soon as possible.Based on the empirical research results,China's financial media in the initial stage and not mature,banks should learn from foreign experience,vigorously develop the intermediary business,specific policy recommendations,including increased talent,leveraging information technology,relax banking regulatory policy,Intermediate business management system,vigorously develop the technical content,high value-added intermediary business.