Monetary Policy Uncertainty,Risk-Taking and Bank Credit Term
Based on the micro data of Chinese commercial banks,a panel regression model is constructed to investigate the impact of monetary policy uncertainty on bank credit term and its mechanism.The results show that monetary policy uncertainty has a narrowing effect on bank credit term.Monetary policy uncertainty increases risk-taking,prompting banks to be more in-clined to short-term credit allocation decisions,resulting in the effect of credit term reduction,and the transmission channel of"monetary policy uncertainty-risk-taking-bank credit term"is ef-fective.In addition,macro-prudential policy,cross-border capital flows,and banking prosperity can negatively adjust the effect of credit maturity reduction caused by monetary policy uncertain-ty.Based on this,in order to prevent and control the systemic risk of the banking industry in the time dimension characterized by credit term,it is necessary to establish and improve a two-pillar policy framework where monetary policy and macro-prudential policy are coordinated and regula-ted,optimize the timing of cross-border capital opening,and construct a bankers'optimism mo-nitoring mechanism based on the monetary policy sentiment index.
monetary policy uncertaintybank credit termbank's risk-takingmacro-pru-dential policycross-border capital flow
万方数据
维普
