Assignment代写：The influence of interest rate liberalization on commercial Banks－r51due

下面为大家整理一篇优秀的assignment代写范文- The influence of interest rate liberalization on commercial Banks，供大家参考学习，这篇论文讨论了利率市场化对商业银行的影响。利率市场化，指的是价格水平的定价权力由市场控制，市场在利率传导机制、结构调整和管理控制中发挥主导作用，充分发挥其在资源配置中的基本作用。当利率不受限制以后，商业银行就拥有了定价自主权，其中城市商业银行和股份制商业银行的市场竞争力不断增强。另外，在利率管制下，商业银行拥有庞大客户群且客源稳定，众多企业的对公业务都是由商业银行完成的，这些使得商业银行缺乏改革创新的动力。

Interest rate liberalization is a product of financial liberalization reform, which is of great significance to improving financing effectiveness, establishing stable pricing mechanism of financial institutions, and forming a good and healthy free financial environment. As the most important part of China's banking industry, the development of China's state-owned commercial Banks plays an important role in the interest rate market. Interest rate liberalization promotes the business development and financial system reform of commercial Banks, broadens their profit sources and improves their market competitiveness. At the same time, the market-oriented interest rate reform also increases the moral risk, credit risk and interest rate risk of state-owned commercial Banks, and reduces the market competitiveness of state-owned commercial Banks. The countermeasures for China's state-owned commercial Banks to deal with interest rate liberalization include improving the pricing ability of financial products, optimizing the structure of customers, vigorously developing intermediate business, and improving the control ability of interest rate risk.

Interest rate liberalization means that pricing power at the price level is controlled by the market, which plays a leading role in interest rate transmission mechanism, structural adjustment and management control, and gives full play to its basic role in resource allocation. Interest rate liberalization has four levels, that is, financial transaction subjects have the right to determine the interest rate, market structure, term structure and risk structure. The interest rate of interbank offered rate or short-term Treasury bill will be the basic criterion of market interest rate. The government or central bank has the right to indirectly influence the interest rate of financial assets.

Interest rate liberalization reform has always been at the forefront of financial reform. It is the top priority of China's economic development. Since 1993, China first put forward the concept of interest rate liberalization, allowing commercial Banks to freely float deposit and loan interest rates within a certain range. By 2015, China has realized interest rate liberalization. On June 1, 1996, the central bank announced to remove the ceiling of inter-bank lending rate and liberalize the limit of inter-bank lending rate. In the same year, the interest rate of Treasury bonds also reached the market standard. On October 19, 2004, the upper limit and lower limit of RMB loan interest rate for financial institutions were lifted with the approval of the State Council. In January 2007, Shanghai interbank offered rate was established. These reforms have given financial institutions greater autonomy. In 2013, the People's Bank of China issued a directive on liberalizing the lower limit of lending interest rates for commercial Banks, stipulating that the issuing interest rates and prices of deposit-type financial institutions in the inter-bank market should be determined in a market-oriented manner. China's market-oriented reform has taken shape, but the advantages and disadvantages are also gradually highlighted.

In the early stage of reform and opening up, China's economic growth depended on the depletion of a large number of resources, but the income from such depletion could hardly meet the demand of rapid economic growth. When economic development encounters bottleneck, market reform appears particularly important. Marketization refers to the free flow of all kinds of production factors in the market, and the price is determined according to resource allocation, supply and demand relationship, market competition and other factors. In order to ensure the steady growth of economy, our country has implemented interest rate control. Interest rate controls keep interest rates artificially low, reducing costs for investors and protecting inefficient investments. But interest rates, as a form of capital prices, should continue to improve allocative efficiency. After the interest rate liberalization, due to the rising cost, capital will flow to efficient investment projects to change income distribution and industrial structure, thus changing the economic development mode.

In addition, interest rate controls have reduced costs for commercial Banks and for depositors, suppressing costs and increasing inflation expectations. Interest rate liberalization can increase residents' wealth, reduce inflation expectations and improve residents' satisfaction. At the same time, it will promote household consumption and economic growth.

Interest rate control has made the development of China's banking industry in a stable state. China has adopted a certain degree of policy preference for state-owned commercial Banks, which enjoy certain privileges, which also leads to the lack of marketization degree, a large number of non-performing assets, insufficient operating power, unreasonable property rights structure and other problems. In China's special economic environment, the key factor for the development of Banks is the core competitiveness of Banks. After the interest rate is not restricted, commercial Banks have the autonomy of pricing, among which the city commercial Banks and joint-stock commercial Banks are increasingly competitive in the market. Therefore, the state-owned commercial Banks are facing enormous market pressure, and must adjust accordingly, especially carry on the transformation of the system.

Under the control of interest rate, state-owned commercial Banks have a large customer base and a stable customer source. Many enterprises' corporate business is completed by state-owned commercial Banks, and state-owned commercial Banks also enjoy policy dividends of some countries. All these make state-owned commercial Banks lack the motivation for reform and innovation. After the liberalization of interest rate control, state-owned commercial Banks will take a more active attitude in designing financial products, constantly play their own advantages, and attract more customers on the basis of maintaining the original customer base. At the same time, more attractive financial products will be designed to increase market share. Of course, such healthy competition will undoubtedly promote the development of the whole commercial bank's financial business, so that the quality and variety of financial products reach an unprecedented peak.

After the liberalization of interest rate control, all kinds of commercial Banks in the market have more independent pricing rights. State-owned commercial Banks can formulate or develop different pricing according to different risk levels of customers, which makes the previously neglected market of small and medium-sized enterprises regain the attention of state-owned commercial Banks and expands the profit sources of state-owned commercial Banks. In addition, in order to attract capital, state-owned commercial Banks will vigorously develop intermediate businesses such as securities, insurance, funds and so on, to expand the source of profits to a greater extent.

Under the control of interest rate, state-owned commercial Banks have the advantage of sufficient capital, wide business coverage, strong brand influence and invisible national credit guarantee. Therefore, the customer base of state-owned commercial Banks is large and stable, and they only face less moral hazard as price recipients. However, after the deregulation of interest rate control, state-owned commercial Banks have the right to determine their own prices. In order to attract more deposits, they will raise their deposit interest rate, which will increase the financing cost of state-owned commercial Banks. In order to maintain their profit level, state-owned commercial Banks will set higher loan interest rates, thus creating moral hazard. In addition, after interest rate liberalization, high-risk enterprises willing to pay high interest rates are more likely to get loans and occupy the market. However, these borrowers will not pay more attention to the problem of capital cost, and such adverse selection will lead to the moral hazard of state-owned commercial Banks, leading to the situation of only borrowing but not returning.

Under the control of interest rate, state-owned commercial Banks lack the subjective initiative to set deposit and loan interest rates, and because of their large scale of assets and institutions, stable customer quality and large number of customers, they are faced with small credit risks. After the interest rate liberalization, the interest rate level rises, and enterprises have to pay high interest in order to get loans, which makes enterprises choose high-risk projects in order to obtain high returns, thus leading to the increase of credit risk of state-owned commercial Banks. In addition, after interest rate liberalization, interest rate rise may lead to borrower default. Due to asymmetric information, state-owned commercial Banks cannot fully grasp the risk situation of all borrowers, which prompts Banks to choose borrowers willing to pay higher interest rates. The essence of high interest loans is the non-performing assets of state-owned commercial Banks, which increases the credit risk of Banks. In the long run, high interest rates will not bring high returns, but will turn some loans into non-performing assets and increase the provision for bad debts of state-owned commercial Banks.

The loss that state-owned commercial Banks may suffer due to the irregular fluctuation of market interest rate is called interest rate risk. Under the control of interest rate, state-owned commercial Banks only need to passively accept the interest rate level of the central bank, and the interest rate level tends to be stable. At this time, interest rate risk is not the most important risk faced by Banks. However, after interest rate liberalization, interest rate is determined by the market. Under the action of market mechanism, the interest rate fluctuates frequently and the change trend is difficult to predict, thus increasing the interest rate risk of state-owned commercial Banks. Spmgue concluded: "until the 1980s, most Banks failed because they were wrong about interest rates." In 2004, in the new agreement promulgated by the Basel committee on banking supervision, the risk brought by adverse changes in interest rates to the financial position of Banks was defined as interest rate risk and divided into four categories, namely, repricing risk, basis risk, implied option risk and yield curve risk.

In the case of interest rate control, the interest rate spread of China's Banks has been in a basically fixed state. State-owned commercial Banks have a stable and large number of customers. As a result, state-owned commercial Banks are faced with problems such as lack of marketization, large number of non-performing assets, insufficient operational motivation, unreasonable property right structure and poor institutional flexibility. After the liberalization of interest rate control, the state-owned commercial Banks have a long time to respond to the change of interest rate. However, other commercial Banks have a little more flexibility in the process of interest rate liberalization and a shorter response time. They decide the interest rate according to market supply and demand, and the interest rate changes quickly according to market conditions. The advantage of interest rate makes these commercial Banks competitive in the market. However, the advantages of state-owned commercial Banks in the past have gradually disappeared in the reform of interest rate liberalization, and their disadvantages are gradually obvious. Their poor flexibility makes their market competitiveness weak. Therefore, in the reform of interest rate liberalization, state-owned commercial Banks are under great pressure. Iv. Countermeasures of China's state-owned commercial Banks against interest rate liberalization

From the perspective of economic globalization, interest rate liberalization is an inevitable trend of development, which creates more development opportunities for state-owned commercial Banks. At the same time, there are many risks in interest rate liberalization. Therefore, state-owned commercial Banks should make full use of advantages and avoid disadvantages, and turn risks into opportunities so as to stand firm in development and reform.

Product pricing ability is the key to improve profitability of commercial Banks. Therefore, to improve the pricing system for state-owned commercial Banks is also very important. State-owned commercial Banks should first conduct market research, analyze the research results, seek experience and rules, and establish a scientific pricing system. Second to perfect the pricing system, according to the degree of risk of different customers, the loan amount, loan term interest rates set different factors such as price, in order to achieve "excellent reasonable price to attract more customers, a large number of excellent customer credit risk reduction, lower credit risk at a lower price, lower prices to attract more excellent customer" virtuous circle. China's state-owned commercial Banks are the head office and branch offices, and the economic development levels of various regions in China are uneven. Therefore, the head office should evaluate and inspect the branches and offer different pricing flexibility to different regions.

In the period of interest rate control, due to the state-owned nature of state-owned commercial Banks and the general direction of national policies, most of their loans went to large state-owned enterprises with lower risks, thus ignoring the loan needs of small and medium-sized enterprises. After the liberalization of interest rate control, large state-owned enterprises are faced with the situation of rising financing costs. On the one hand, the financing costs are rising, and on the other hand, the state-owned commercial Banks cannot fully meet their requirements of high loans. When the financing cost increases and the financing efficiency is low, these enterprises will enter the capital market for financing. However, small and medium-sized enterprises need less capital, and the number of enterprises is large and the nature of enterprises makes financing more difficult. In this case, the banking industry needs to optimize the customer structure. State-owned commercial Banks should pay attention to the capital needs of small and medium-sized enterprise market. Occupying this part of the market is particularly important for the development and reform of state-owned commercial Banks.

The intermediate business of state-owned commercial Banks mainly includes settlement, settlement and cash management, investment banking, bank CARDS, personal finance and private banking, public finance, asset custody, guarantee and commitment, agent receipt and payment, and entrustment. With the progress of interest rate liberalization, state-owned commercial Banks pay more and more attention to the important role of intermediate business in the face of shocks. The development of intermediate business can not only diversify the investment returns of state-owned commercial Banks, but also reduce their risks and increase their profits. State-owned commercial Banks have great advantages in the development of intermediate business. They have a stable customer base, high quality credit support, large scale of Banks and numerous branches. All these are of great help to the marketing and promotion of products. In the meantime, intermediate business and traditional business are not contradictory. The development of traditional business can provide high quality customers for intermediate business and good intermediate business can also help maintain traditional users. Therefore, state-owned commercial Banks should strengthen the marketing and promotion of intermediate business, let customers understand and participate in intermediate business, and cultivate a stable customer group.

After the liberalization of interest rate control, interest rate risk has become the most serious risk faced by state-owned commercial Banks. Strengthening the management of interest rate risk will directly affect the performance of state-owned commercial Banks. State-owned commercial Banks need to speed up the improvement of interest rate risk management system and strengthen the supervision of interest rate risk. Only in this way can Banks operate smoothly. State-owned commercial Banks should develop money market and financial derivatives. Financial derivatives have the function of risk transfer. Diversified product types can effectively help Banks transfer interest rate risks. In order to achieve the effect of transferring interest rate risks, financial instruments such as expected interest rate agreement, medium-term futures and interest rate swap should be reasonably used to avoid risks.

The advantages of state-owned commercial Banks, such as originality, difficulty in imitation and strong technical talent resources, are the key to their core competitiveness. At present, China's state-owned commercial Banks lack professional interest rate risk management talents. Therefore, state-owned commercial Banks should pay attention to personnel training, not only to absorb interest rate risk management professionals from the outside, but also to improve the internal selection mechanism, so that grassroots employees with higher professional quality have a smooth promotion channel. In addition, salaries in state-owned commercial Banks are relatively stable and do not offer generous commission benefits compared with other Banks. Therefore, it leads to brain drain. Therefore, if state-owned commercial Banks want to retain talents, it is necessary to reform the salary system and implement market-oriented management for professional talents.

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