Research On The De-leverage Path Policy Of Commercial Banks

As an important participant in the financial system,commercial banks have abundant funds and usually appear as the suppliers of funds.However,in recent years,the real economy downturn,banks to chase profits,put more money into financial products,even in order to expand the scale,continue to increase leverage,mainly through continuous use of short-term bonds in the bond market repo,interbank deposit and the use of additional leverage in the interbank market,many non bank financial institutions are involved with each other to create credit,plus leverage each other.But behind the high leverage,there are all kinds of risks.In order to ensure the stability of the financial system and avoid risks,the financial leverage is mainly the deleveraging of commercial banks.Firstly,the definition and classification of financial leverage is explained and defined,and then analyses the high financial leverage will produce what risks to the financial system,and then from the financial level and institutional level of financial leverage mechanism is analyzed,finally from the perspective of deleveraging path.This study shows that the high financial leverage is mainly due to the interbank funds transfer chain,relying on comparative advantage,trade finance,interbank deposit bank outsourcing and sheet business,the formation of idle funds arbitrage mechanism;rapid rise in financial leverage potential systemic risk,leading to the real economy to increase the cost of capital,monetary policy the transmission is not smooth.The gradual introduction of the financial "deleveraging" regulation policy has strengthened supervision and short-term leverage,but in the long run,we should focus on the long-term mechanism of institutional regulation.Next,we should continue to reform and improve the financial regulatory framework to adapt to the development of modern financial market,so as to achieve unified coordination and full coverage of financial risks.