Researching On The Impact Of Monetary Policy Change On Commercial Banks' Risks

After the 80 s of last century,with the acceleration of financial development of global processing,financial liberalization became a popular trend,some national monetary policies tend to take long-term relaxed attitude.Under this background,there have been a series of problems such as credit scale expansion,asset pricing offset and inflation,and many commercial banks have adopted positive financial innovation in order to enhance the competitiveness of the financial market industry.As the representative of the various types of financial institutions,commercial banks in the operation of the increasingly high leverage,increased risk and the risk of gathering,eventually led to the 2008 global financial crisis.Global financial tsunami has had a huge impact on the global financial system and the entity economy.Although the source of the crisis is the subprime mortgage crisis of the American banking industry,the monetary authorities and academic researchers around the world have conducted a more in-depth theoretical study of financial risks and explored the relationship between monetary policy and financial risk,The bank's risk-bearing channel theory came into being.The traditional theory of bank risk mainly focuses on the risk behavior of banks and the regulation of quantitative indicators at the micro level.The emphasis is on the control of the risks arising from the bank's operation from the characteristics of the banks,and less attention to the macroeconomic environment and monetary policy.Through analyzing the motivations of the commercial banks' risk-taking and the influence of the change of monetary policy on the bank's risk appetite,this dissertation analyzes the theory of the risk-bearing channel from the economic theory,and studies the monetary policy in interest rate,credit,asset pricing and exchange rate.Channel under the transmission,for the financial institutions in the process of the existence of the valuation changes,the pursuit of profit and other economic effects on the commercial banks to take the initiative to bear the impact of risk behavior,and the use of empirical data test method to draw the results.This dissertation draws the following conclusions: First,the level of risk in commercial banks and the direction of China's monetary policy showed a negative correlation,that is,positive monetary policy will enhance the banks' risk-taking,tight monetary policy will reduce the banks' commitment to risk.Second,the sensitivity of commercial banks' exposure to monetary policy,based on differences in characteristics between banks,shows difference,state-owned holdings and banks with high concentration of ownership,showing a stronger preference for risk.Thirdly,the preference of commercial banks to risk is also related to the macroeconomic environment.When the speed of economic development in China is slow,the risk of commercial banks is increasing.Finally,according to the theoretical reasons and the conclusions of the commercial banks' risk-taking behavior,this dissertation puts forward some policy suggestions for the development and implementation of more reasonable monetary policy and the longterm stable development of the financial system.Look forward to to positive operation of the economy has a theoretical significance.