摘要
高风险机构爆雷表面源自信用危机或流动性危机,实质上是资产负债表危机,表现为资产负债管理失效所引致的结构失衡、价格失灵等问题。探索对商业银行资产负债管理的穿透式监管,实现实质风险的早识别、早预警、早暴露、早处置,是全面加强金融监管,有效防范化解金融风险的重要内容和关键手段。本文首先就资产负债管理与穿透式监管的内在一致性逻辑进行了解析,然后就基层实践应用的穿透式监管框架进行了阐述,最后对资产负债管理的穿透式监管路径进行了归纳并提出了建议。研究发现,基于资金价格维度构建的“四率”监测体系实现了对资产负债要素风险的可计量、可穿透,提升了金融监管对资产负债管理的前瞻性和精准性,弥补了资本监管和流动性监管偏于规模比例及结果管理的短板。今后,应继续改革现代金融体系,完善具有中国特色的穿透式监管框架,实现对银行资产负债管理的金融监管再深化。
The collapse of high-risk institutions on the surface stems from credit crises or liquidity crises,but in essence,it is a balance sheet crisis,manifested as structural imbalances and price failures caused by assetliability management failures.Exploring penetrative supervision of commercial banks'asset-liability management to achieve early identification,early warning,early exposure,and early disposal of material risks is a critical component and key means to comprehensively strengthen financial supervision and effectively prevent and defuse financial risks.This paper first analyzes the internal consistency logic between asset-liability management and penetrative supervision,then expounds on the penetrative supervision framework applied in grassroots practices,and finally summarizes the approaches to penetrative supervision of asset-liability management and proposes suggestions.This study finds that the"Four Rates"monitoring system constructed from the dimension of fund prices has enabled the measurement and penetrability of risks in asset-liability elements,enhancing the forwardlooking and precise effectiveness of financial supervision over asset-liability management and making up for the shortcomings of capital and liquidity supervision,which focuses on scale ratios and outcome management.In the future,efforts should be sustained to reform the modern financial system and improve the penetrative supervision framework with Chinese characteristics,so as to deepen the financial supervision of banks'asset-liability management.
作者
国家金融监督管理总局宁波监管局课题组
孙世重
National Financial Regulatory Administration Ningbo Regulatory Bureau Research Group
出处
《金融监管研究》
北大核心
2025年第6期1-15,共15页
Financial Regulation Research
关键词
资产负债管理
金融风险
资本约束
流动性约束
穿透式监管
Asset-Liability Management
Financial Risks
Capital Constraints
Liquidity Constraints
Penetrating Supervision
