摘要
巴塞尔Ⅲ资本监管改革产生的影响是理论界和实务界关注的重要话题。本文对2010—2018年95家G-SIBs样本银行资本充足率提升策略及驱动因素进行了研究。结果表明,巴塞尔Ⅲ资本监管的强化使国际大型银行资本充足率和资本质量明显提升。资本提升策略逐渐由危机前高度依赖分母策略转变为分子和分母策略并重。其中,间接融资主导、处于信贷上行周期、监管政策执行较不充分经济体的大型银行更倾向于采用分子策略;G-SIBs、传统银行及国际化程度较高银行的资本充足率提升幅度较大,且更倾向于使用分子策略。为支持实体经济发展、满足金融监管要求,我国银行体系资本提升策略高度依赖分子策略,形成了"融资—扩张—融资"的资本管理模式,应多措并举予以优化。
The impact of the BaselⅢcapital regulatory reform is a topic of great concern to the theoretical and practical circles.The aim of this paper is to examine the adjusting strategies of banks’capital ratio under BaselⅢ.Based on data from 95 G-SIBs sample banks,this paper examines the banks’capital management strategies from the year 2010 to 2018.In order to make detailed analysis,the changes of banks’capital ratio are divided into numerator effects and denominator effects.This paper further analyzes the differences of capital adjusting behavior in terms of different financing modes,credit cycles,degree of internationalization,etc.The results show that the enactment of BaselⅢcapital requirements encouraged banks to improve their capital quantity and quality.Banks’capital management strategy shifted from highly dependent on denominator behaviors before the crisis to relying on both the numerator and denominator strategies.Banks in intermediate-financing dominated economies and economies with upturn credit cycles tend to adopt numerator strategies to increase capital ratios.G-SIBs,traditional banks with high level of deposits and loans and international banks are more inclined to use numerator strategies to increase their capital ratio.The Chinese banking sector highly depended on numerator effects which was costly and difficult to sustain in the long run.This paper offered 3 suggestions.Firstly,the banking sector should be guided to execute a more balanced capital management strategy,and focus more on denominator effect.Secondly,the regulatory policies should be modified in accordance with China’s situation,especially the counter-cyclical buffer policies and deduction policies of Total Loss Absorbency Capacities.Thirdly,efforts need to be made to improve banks’financing environment,allowing banks to repurchase the stock,execute stock reward and enrich investor of China’s bond markets.
作者
熊启跃
张文婧
Xiong Qiyue;Zhang Wenjing(Research Institute of Bank of China;Hanqing Advanced Institute of Economics and Finance,Renmin University of China)
出处
《国际金融研究》
CSSCI
北大核心
2021年第2期43-54,共12页
Studies of International Finance
作者简介
通讯作者:熊启跃,博士,中国银行研究院高级研究员;张文婧,中国人民大学汉青经济与金融高级研究院硕士研究生。
