摘要
商业银行"冲时点"的行为,人为扭曲了信贷市场的供求状况,且通过引致货币市场流动性阶段性紧张,间接影响货币政策调控效果。商业银行"冲时点"现象的存在,既有内部激励因素,也有外部压力因素。有效治理商业银行"冲时点"行为,需要商业银行转变经营理念;亦需要监管部门从宏观审慎管理的角度,按照市场化监管逻辑建立银行自律与市场监管结合的激励相容机制。
The ＂last-minute charge＂ activities of commercial banks artificially distort the conditions of supply and demand in the credit market and indirectly affect the effectiveness of monetary policy through phases of tension of liquidity in the money market. The presence of ＂last- minute charge＂ by commercial banks is caused by both internal incentives and external pressure. For effective control of the ＂last- minute charge＂ activities of commercial banks, such banks are required to change their business philosophy while regulatory authorities are required to establish a mechanism with incentive compatibility where self-discipline of banks and market supervision are integrated according to the logic of market-oriented supervision from the perspective of macro-prudential management.
出处
《中国货币市场》
2011年第4期30-33,共4页
China Money
关键词
冲时点
总量合成谬误
宏观审慎管理
last-minute charge, fallacy of composition, macro-prudential management
