Research On The Deposit And Loan Of Commercial Banks With The Impact Of Financial Disintermediation

The first appearance of financial disintermediation in the United States,is an inevitable economic phenomenon concomitant with the development of market economy.With the continuous improvement of financial market and the rapid progress of Internet technology,the phenomenon of financial disintermediation is becoming more and more popular.Influenced by financial disintermediation,the traditional business of banks in China has been impacted,which shows that the source of bank deposits is diverted by other means and the loan is diverted by other markets.The competition of financial market is more and more fierce,and the traditional business of commercial banks is influenced by financial disintermediation.Therefore,how to deal with the pressure of the financial disintermediation for developing the loan business,meeting the new challenges and seizing the new opportunities to achieve successful transformation is the purpose of this study.On the basis of combing the research results and theories of financial disintermediation,this paper expounds the development status of financial disintermediation in China,including the forms and causes of financial disintermediation.Secondly,this paper analyzes the impact of financial disintermediation on commercial banks.Finally,this paper uses the quarterly data of the first quarter of 2000-2017 fourth quarter,selects the stock market financing income,the bond market income,the insurance market income,the trust market income as the direct indexes,and joins the GDP as the macroeconomic variable,establishes the vector autoregressive(VAR)model.In combination with Granger causality test and impulse response function analysis,the influence of financial media on bank deposit and loan business is further analyzed.The empirical results show that the deposit and loan of China's commercial banks are affected by the financial disintermediation,and the bank's deposit and loan are diverted by the stock market,the bond market,the insurance market and the trust markets.Through the results of empirical test,this paper puts forward some suggestions on how to deal with the financial disintermediation from the perspective of commercial banks.Financial disintermediation not only has brought a certain challenge to commercial banks,but also brings a new development opportunity.Commercial banks should firmly grasp the direction of business transformation,pay more attention to management risk,return to the essence of the service entity economy and make our financial market more healthy and stable.The innovation of this paper lies in:First,this paper put stock,bonds,insurance,trust indicators into the VAR model.The selection variables is more complete in the empirical.research part to analyze the impact on the Commercial bank deposit and loan business with the various explanatory variables of financial disintermediation.Secondly,this paper introduces the two indexes of ultra-short term financing voucher and non-bank financial institution bond in the calculation of the size of the bond issue,in which the circulation of ultra-short term financing voucher reaches 30.19%in the total amount of bond financing,and it plays an important role in the way of enriching the direct financing of enterprises and solving the problem of short-term financing.