CAJ | 학술논문

2007年金融危机之后的有关研究表明,宽松的货币政策通过改变银行的风险容忍度影响其信贷和投资决策,从而影响了金融稳定,这一崭新的货币政策传导渠道即银行风险承担渠道。本文以银行风险承担为主线,通过梳理归纳和深入分析国内外相关文献发现,货币政策会对银行风险承担的行为产生影响,同时,针对系统性风险的宏观审慎监管与银行风险承担渠道密切相关。因此,采取逆周期的宏观审慎政策措施可以从时间和空间两个维度弥补货币政策在维护金融稳定方面的不足。
2007년금융위궤지후적유관연구표명,관송적화폐정책통과개변은행적풍험용인도영향기신대화투자결책,종이영향료금융은정,저일참신적화폐정책전도거도즉은행풍험승담거도。본문이은행풍험승담위주선,통과소리귀납화심입분석국내외상관문헌발현,화폐정책회대은행풍험승담적행위산생영향,동시,침대계통성풍험적굉관심신감관여은행풍험승담거도밀절상관。인차,채취역주기적굉관심신정책조시가이종시간화공간량개유도미보화폐정책재유호금융은정방면적불족。
Studies on the causes of Subprime crisis in 2007 show the fact that risk tolerance of banks and their credit and investment decisions are changed by loosening money policy, than the financial stability is affected, and the new channel is bank risk-taking channel. Focusing on bank risk-taking channel, this paper reviews the literature, and reveals the money policy have effect on the bank risk-taking behavior. There is a close relationship between macro-prudential regulation and bank risktaking channel. The deficiency of money policy for maintaining financial stability can be rectified by counter-cyclical macroprudential policies from the two aspects： time and space.