讲座题目：Outside the LCR Box: The Impact of Liquidity Regulation on Banks

主讲嘉宾：刘冲  上海财经大学金融学院讲席教授

讲座时间：2024年12月25日（周三）12:00

讲座地点：金融学院116教室

嘉宾简介

刘冲，上海财经大学金融学院讲席教授，博士生导师，党委副书记，入选国家青年人才计划。主要研究方向包括：财政金融协同，货币政策、金融监管、商业银行风险管理，文化与金融。在《中国社会科学》、《经济研究》（4篇）、《管理世界》（2篇）、《经济学（季刊）》、《金融研究》（5篇）、《Journal of Real Estate Finance and Economics》等国内高水平学术期刊及SSCI期刊发表论文三十余篇。主持国家自然科学基金项目2项（面上1项、青年1项），国家社科基金重大项目子课题2项，国家自科基金重点项目子课题1项、博士后基金面上项目1项。荣获教育部第九届高等学校科学研究优秀成果奖，上海市第十六届哲学社会科学学科学术优秀成果奖、《金融研究》2020、2021年度优秀论文、第十七届中国金融学年会优秀论文二等奖。

摘要

This study investigates the far-reaching effects of liquidity regulation policies on the banking sector in China. Banks subject to liquidity coverage ratio (LCR) regulation since 2014 are found to have significantly decreased their short-term wholesale funding via interbank liabilities while increasing other short-term funding via bonds to pay (primarily interbank negotiable certificates of deposits) on the liability side. The finding of this research that is the most different from other studies is that regulated banks in China neither significantly increased their holdings of qualified high-quality liquid assets, nor significantly reduced their proportion of risky assets, after the implementation of LCR regulation. Under the pressure of deposit price control and a competitive deposit environment, banks with greater market power have attracted more traditional deposits than banks with lower market power, and banks with fewer local market shares have shifted to increase their proportions of other liabilities to satisfy the liquidity requirements. This has ultimately led to unexpected consequences in China’s banking industry.