Monetary Policy, Income Structure And Bank Risk-taking

The financial crisis of 2008 began in the United States,and evolved into a global financial disaster.The instability of the financial system can cause irreparable harm to the society as a whole.Since then,governments around the world have begun to reflect on the underlying causes of the financial crisis.In 2002,the quantitative easing monetary policy started by The Federal Reserve System improved the risk tolerance and risk-taking level of market players such as Banks,which was the trigger for the final outbreak of the financial crisis.This argument is referred to as "the risk-taking channel of monetary policy".Because our country government control of the capital market and the more stringent regulation,the degree of liberalization of the financial system is limited,a serious impact on the financial crisis to our country,our country economy will still be able to keep growing at the rate of solid.However,due to the regularity of economic operation and the fact that the Chinese government has implemented the loose monetary policy for many years in a row,in order to avoid the ever-expanding financial risks accumulated in the banking system,we must conduct an in-depth study on whether the risk bearing channel of monetary policy exists in China's financial market and what factors influence the channel effect.The trend of diversified income structure is spreading globally.Chinese commercial Banks are gradually expanding the scale of non-traditional businesses except traditional deposit and loan businesses.While expanding the profit growth point of the banking industry,can this trend have an impact on the risk bearing channels of monetary policy?On this basis,this paper adopts the method of combining theoretical analysis and empirical test,first of all,on the relevant theories,concepts and literature system,and put forward the research on the basis of this assumption,and then in 2007-2017 of the country's 72 commercial Banks related data as sample,using the difference of the GMM estimation method for the existence of the channels of monetary policy risks and Banks income structure was carried out on the effect of the channel to empirically,and drew the following conclusions:(1)The risk bearing channel of monetary policy in the financial market in our country,namely the loose monetary policy will improve the level of risk exposures of commercial Banks,and tightening of monetary policy will reduce the bank's risk bearing level.(2)The impact of monetary policy on the risk assumption of commercial Banks is restricted by the revenue structure.Under otherwise constant conditions,the higher percentage of non-interest income of the bank and the lower risk level are.