Research on the impact of double-pillar regulation on commercial Banks'risk-taking
In 2017,the 19th National Congress formally proposed the construction of a two-pillar regulatory framework of"monetary policy+macroprudential".Compared with a single pillar,it can enhance the central bank's ability to control systemic financial risks.This paper empirically analyzes the synergistic effect of macroprudential policy and monetary policy on banks'risk-taking from both micro and macro perspectives by using panel data of 242 Chinese commercial banks from 2011 to 2020 through the fixed-effects estimation and systematic generalized moments estimation(GMM)method.The results show that,firstly,the"two-pillar"regulation affects bank risk-taking by influencing the return on assets and reserve requirement ra-tio of commercial banks;secondly,the effect of the"two-pillar"regulation varies according to the scale of commercial banks and the economic cycle.Finally,it puts forward relevant policy recommendations for improving the regulation of commercial banks.
NETL
NSTL
万方数据
