Can Macro-prudential Policies Restrain Commercial Bank Risk-taking
A panel model is constructed to empirically analyze the impact of macro-prudential policies on bank risk-taking and its mechanism with the annual data of 225 Chinese commercial banks from 2010 to 2020.The results show that:(1)Macro-prudential policy has an inhibitory effect on bank risk-taking.Compared with state-owned banks and urban rural commercial banks,macro-prudential policies have a greater inhibitory effect on joint-stock banks.(2)Interbank liabilities,loan concentration and leverage ratio play an intermediary role in the relationship between macro-prudential policy and bank risk-taking.Macro-prudential policy by decreasing interbank liabilities,loan concentration and leverage ratio channels to reduce bank risk-taking.The transmission channel of"macro-prudential-interbank liabilities/loan concentration/leverage ratio-bank risk-taking"is effective.(3)Cross-border capital inflows have a negative moderating effect on the relationship between Macro-prudential policies and bank risk-taking,and the expanding of cross-border capital inflows scale will weaken the inhibition effect of macroprudential policies on bank risk-taking.(4)Bankers'confidence has a negative moderating effect on the relationship,and the increase of bankers'confidence will weaken the inhibition effect of macroprudential policies on bank risk-taking.
macro-prudential policybank risk-takinginterbank liabilitiesloan concentrationleverage ratio
NETL
NSTL
万方数据
