《中国经济报告》2012年7月刊 《China's economic report》2012 7 monthly

    席卷全球的金融危机引发了各国政府对金融监管体系及金融监管理念的反思。2012年6月8日晚，银监会正式发布了《商业银行资本管理办法》正式稿，将自2013年1月1日起实施。银行业监管是金融业乃至整个社会经济稳健运行的基本保证，探索后金融危机时代中国银行业监管政策的发展方向及其影响，对商业银行顺势而为，增强自身的稳健性和国际竞争力无疑具有重要意义。

    Swept through the global financial crisis triggered the governments on the regulation of the financial system and financial supervision concept thinking。On June 8, 2012 late，Banking regulatory commission issued a formal《Commercial bank capital management approach》Formal draft，From January 1, 2013 implementation。Banking supervision is the financial industry and the whole social economic stable operation of the basic guarantee，Explore the financial crisis after the age of the China banking regulatory policy development direction and its influence，In the commercial bank act，To improve its robustness and international competitiveness is to have the important meaning。

　　一、后金融危机时代国际银行业监管新趋向

a、Financial crisis after age new trend of international banking regulation

　　从国际监管的实践进程来看，国际银行业监管的基本思路与理念始终伴随着经济的发展而不断调整变化，大都遵循着金融创新和严格监管交替发展的演化路径。经济繁荣高涨时，放松银行监管的呼声很高，但一旦经济衰退，银行出现危机，加强监管的论调又会重新提起。

From the practice of international regulatory process and see，The basic thought of the international banking regulation and the idea has always been with the development of economy and constantly adjust changes，Mostly follow strict supervision of financial innovation and the development of alternate evolution path。Growing economic prosperity，Relax the voice of the banking supervision is very high，But once the economy into recession，Bank crisis，The argument of strengthening the supervision and to mention。

　　后危机时代，国际银行业监管呈现监管从严的新趋势，各国监管当局致力于确保金融机构的资本充足，加强流动性监管和风险监管，从宏观审慎、逆周期和对风险准确计量角度进行监管改革。

Crisis after age，International banking regulation of the present regulation strictly new trend，Regulatory authorities to ensure that all countries to financial institutions in the capital adequacy，Strengthen supervision and liquidity risk supervision，From the macroscopic prudent、Inverse cycle and accurate measuring Angle of risk regulatory reform。

　　1. 美欧积极推进金融监管改革

1. The us and European actively promote the reform of financial supervision

　　2008年次贷危机引发的全球经济危机给世界金融业与实体经济带来严重影响，美欧等国金融业遭到重创，暴露出国家金融监管缺失与低效，也引发了人们对美国等相关国家金融监管的深刻反思。

In 2008 the subprime crisis caused by the global economic crisis and the physical world financial industry have serious impact on the economy，Countries such as the us and Europe hit by the financial industry，Exposed the national financial supervision lack and inefficient，Also initiate people to the United States and other relevant national financial supervision profound reflection。

　　（1）美国：次贷危机后，美国金融监管的思路发生重大变革， 2010年7月生效的《多德-弗兰克华尔街改革和个人消费者保护法案》，被认为是“大萧条”以来最严厉的金融改革法案，并对全球金融监管改革树立新的标尺。其主要内容包括：一是成立负责监测和处理系统性风险的金融稳定监督委员会；二是赋予美联储更大监管职责；三是设立新的破产清算机制；四是实行限制高风险交易的“沃尔克法则”；五是将场外衍生品市场纳入监管范围；六是加强对高管薪酬的监督；七是成立消费者金融保护局。

（1）The United States：After the subprime crisis，The idea of financial supervision important changes occurred， In July 2010 the effect《Chris dodd-frank Wall Street reform and consumer protection act personal》，Is considered to be“depression”Since the most severe financial reform bill，And the global financial regulatory reform setting new ruler。The main contents include：One is responsible for monitoring and dealing with established systematic risk financial stability monitoring committee；Two is to give the fed more supervisory duties；Three is to establish a new bankruptcy liquidation mechanism；Four is a high risk of trade restrictions“Volcker rule”；Five is outside the derivatives market into the scope of supervision；Six is to strengthen the supervision of executive pay；Establish consumer financial protection agency is seven。

　　（2）欧盟：2009年6月通过《欧洲金融监管改革方案》并于2010 年生效。其主要内容包括：一是设立宏观审慎监管的欧洲系统风险委员会；二是建立欧洲金融监管体系，扩大监管领域，加强监管部门职能，实行统一的混业监管模式。欧盟金融监管改革方案的主要目的是打破各成员国之间在金融监管领域的分割，实现在欧盟层面上的统一监管。

（2）The European Union：In June 2009, through the《The European financial regulatory reform》And in 2010 Into effect in。The main contents include：A macro the prudential is establish European system risk committee；Two is to establish European financial regulatory system，Expand supervision areas，Strengthening the supervision department functions，A unified supervised mode。The eu financial regulatory reform plan is main purpose is to break between each member in the financial supervision areas segmentation，Realize the unity on the level in the eu regulation。

　　2.《巴塞尔Ⅲ》确立国际银行业监管的新标杆

2.《Basel Ⅲ》Establish new benchmarking international banking regulation

　　2010年9月12日，巴塞尔委员会公告了最新的银行业监管协议——《巴塞尔Ⅲ》，体现了微观审慎监管与宏观审慎监管有机结合的监管新思维，按照资本监管和流动性监管并重、资本数量和质量同步提高、资本充足率与杠杆率并行、长期影响与短期效应统筹兼顾的总体要求，确立了国际银行业监管的新标杆。

On September 12, 2010，The Basel committee announced the latest banking supervision agreement--《Basel Ⅲ》，Embodies the micro and macro prudent supervision prudent supervision of the organic combination of regulatory new thinking，According to the capital and liquidity supervision regulation pay equal attention to、The quality and quantity of capital increase synchronization、Capital adequacy ratio and leverage parallel、Long-term and short-term effect influence the overall requirements of overall consideration，The establishment of international banking regulation of new benchmarks。

　　3.后危机时代国际银行业监管呈现从严新趋势

3. The crisis after the age of international banking regulation strictly presented new trend

　　综合来看，后危机时代各主要国家及国际监管机构变革步伐愈加迅捷，纷纷通过增设监管指标、改组监管机构、延伸监管范围、调整监管重点等方式，构建更为严格有效的金融监管体系。

Comprehensive to see，After the main countries and critical time international regulators increasingly rapid pace of change，By adding in regulatory index、Reorganization regulators、Extensions to superintend limits、The way to adjust the regulation，Build more strict and effective regulation of the financial system。

　　监管标准更趋严格。一是对可能产生系统性冲击的大型金融机构提高监管要求，包括增加资本金和流动性要求等，以增强金融机构弥补损失、防范风险的能力；二是限制金融机构的经营范围，高风险的衍生品交易等或被禁止或置于更严格的监管之下；三是金融创新将更加规范和理性。如美国金融改革法案规定，银行仅可将3%的一级资本投资于对冲基金或私募基金。

Regulatory standards is more strict。One is the possible impact of systematic large financial institutions to improve regulatory requirements，Including the increased capital and liquidity requirements, etc，In order to enhance financial institutions to make up the loss、Prevent the ability of the risk；Two is to limit the business scope of the financial institutions，High-risk derivative transactions or be banned or placed under the supervision of the more strict；Three is financial innovation will be more standard and rational。Such as the financial reform legislation，The bank will only be 3% of the level of capital invested in hedge funds or private equity funds。

　　宏观审慎监管日显突出。危机后各国监管机构认识到，传统的微观审慎监管已无法满足对规模庞大且高度关联的现代金融体系的监管要求，建立一个重在对金融机构整体行为以及金融机构之间相互影响的宏观审慎监管尤为重要，该监管方式将更关注具有系统重要性金融机构的行为、金融市场整体趋势及其和宏观经济的相互影响。

Macro prudent supervision and more outstanding。After the crisis national regulators to recognize，The traditional micro prudent supervision has failed to meet the scale and is highly related to large modern financial system of the regulatory requirements，Establish a financial institution to focus on the overall behavior and financial institutions of the interaction effects between macro prudent supervision is especially important，The way of supervision will pay more attention to systemically important financial institutions behavior、Financial market overall trend and the macro economy and influence each other。

　　监管范围更为全面。清晰的监管边界与足够的监管范围对于金融体系的有效监管至关重要，危机后国际银行业监管体系改革正向着消除监管盲区的方向发展，将原本缺乏监管的影子银行系统和金融衍生品交易系统纳入监管体系，从而一方面保护金融消费者和投资者的权益，另一方面有效防范由投机和过度杠杆化所造成的金融风险。

More comprehensive regulatory scope。Clear regulatory boundary and enough supervision for the financial system of the scope of the effective supervision is very important，After the crisis of international banking regulation system reform is to eliminate supervision to the direction of the blind，The lack of regulation will originally shadow banking system and financial derivatives trading system into the regulatory system，So on the one hand to protect the rights and interests of the financial consumers and investors，On the other hand, effectively preventing the speculative and excessive leveraged by the financial risk。

　　国际监管合作受到高度重视。次贷危机源于美国，其风险却通过高度关联的国际金融市场跨国传递，在短时间内迅速波及全球。为减轻市场风险的跨国传递，加强跨国监管协调受到高度重视，各国借助IMF、世界银行、G20集团等国际组织的力量，加强国际合作。

International regulatory cooperation attached much importance。The subprime crisis originated from the United States，But the risk through the highly associated international financial market international relay，In a short time, spread rapidly across the world。To reduce the risk of market multinational relay，Strengthen international supervision coordination attached much importance，Countries with the IMF、The world bank、G20 group international organizations such as power，To strengthen international cooperation。

　　二、后危机时代我国银行业监管政策发展方向

two、China's banking crisis after age regulatory policy development direction

　　金融危机爆发以来，中国银监会陆续颁布了《关于中国银行业实施新监管标准的指导意见》（以下简称指导意见）、《商业银行杠杆率管理办法》（征求意见稿）和《商业银行资本管理办法》（征求意见稿）。2012年6月8日，银监会正式发布了《商业银行资本管理办法（试行）》正式稿（以下简称资本办法），将自2013年1月1日起实施。关于商业银行的流动性管理办法和逆周期资本管理办法也在进一步讨论。从方向上看，这些监管原则积极体现了国际监管新标准的趋势；从力度上看，无论是监管标准的设定、还是监管指标的定义以及对实施时间的要求，都明显高于国际标准的要求。

Since the outbreak of the financial crisis，Promulgated by the China banking regulatory commission (CBRC) in succession《About China banking regulatory standards implementing new guidance》（Hereinafter referred to as the guidance）、《Commercial Banks leveraged management approach》（Draft version of the）and《Commercial bank capital management approach》（Draft version of the）。On June 8, 2012，Banking regulatory commission issued a formal《Commercial bank capital management approach（trial）》Formal draft（Hereinafter referred to as "capital measures），From January 1, 2013 implementation。About the measures for the administration of commercial bank liquidity and inverse cycle capital management measures also in further discussion。The direction in which see，These regulatory principles positive embodies the new trend of international regulatory standards；Look from the strength，Whether regulatory standards set、Or regulatory index of the implementation of the definition and the requirements of the time，Are significantly higher than international standards。

　　1.后危机时代我国银行监管新框架

1. The crisis in China bank supervision after age new framework

　　后危机时代，我国根据国际银行业监管强化的趋势，确立了未来一段时期我国银行业实施新监管标准的政策框架。

Crisis after age，According to the international banking regulation in China strengthened tendency，Established during a period in China's banking supervision of the implementation of the new standard policy framework。

　　实施较巴塞尔Ⅲ更为严格的资本监管要求。6月8日颁布《资本办法》坚持了国际标准和中国国情相结合、巴塞尔Ⅱ和巴塞尔Ⅲ统筹推进、宏观审慎监管和微观审慎监管有机统一的总体思路。一是细化资本充足率指标定义，提高资本充足率监管要求。二是严格资本定义，债务型资本工具必须具有减计和核销条款。三是扩大风险覆盖范围，全面覆盖银行各类风险，不仅包括信用风险和市场风险，也将操作风险纳入资本监管框架。四是要求建立内部资本充足评估程序，完善治理结构。五是强调科学分类和差异监管。六是细化资本充足率信息披露要求。七是明确资本充足率达标过渡期安排。《资本办法》设置了6年的达标过渡期，要求商业银行自2013年1月1日起开始实施，2018年底前全面达标，并鼓励有条件的银行提前达标。

Implement Basel Ⅲ is more strict capital regulatory requirements。On June 8, issued《Capital measures》To the international standards and China's national conditions combined、The Basel Ⅱ and Ⅲ of Basel as a whole、Macro and micro prudent supervision prudent supervision, the general idea of the organic unity。One is thinning capital adequacy ratio index definition，Improve the capital adequacy ratio of regulatory requirements。2 it is strict capital definition，Debt capital tools must be reduced type plan and cancel after verification terms。Three is to expand coverage of the risk，Comprehensive coverage of all kinds of bank risk，Not only includes credit risk and market risk，Will also operation risk into capital regulatory framework。Four is required to establish internal adequate capital assessment program，Perfect governance structure。Five is to emphasize that scientific classification and regulatory differences。Six is thinning capital adequacy ratio of information disclosure requirements。Seven is clear standards for capital adequacy transition period。《Capital measures》Set up six years of standard transition，Require commercial Banks from January 1, 2013 begin，Before the end of the year 2018 comprehensive standards，And encourage conditional bank standard in advance。

　　《资本办法》在坚持与国际标准基本一致的前提下，注重与中国国情相结合，主要表现为以下特点：一是下调了对小微企业、个人贷款及信用卡授信的风险权重。二是鉴于国内银行贷款损失准备较高的实际情况，《资本办法》提高了实施内部评级法的商业银行超额贷款损失准备计入二级资本的上限。三是对银行已发行的不合格资本工具给予10年过渡期逐步退出，缓解银行资本补充压力。

《Capital measures》With the international standard in adhere to the basic consistent premise，The attention and the China's national conditions combined，Main show is the following features：One is to cut the small micro enterprises、Personal loans and credit card credit risk assessment。2 it is in view of the domestic bank loan losses to the actual situation of the higher，《Capital measures》Improve the implementation of the irb commercial bank loan losses in excess of the limit for secondary capital。Three is to bank has issued unqualified capital tools give 10 years transition gradually exit，Ease bank capital added pressure。

　　实施贷款损失准备动态监管。结合拨备制度国际改革进展，2011年银监会颁布《关于中国银行业实施新监管标准的指导意见》提出贷款拨备率不低于2.5%，拨备覆盖率不低于150%。同时，建立动态调整贷款损失准备制度，根据经济发展不同阶段、银行业金融机构贷款质量差异和盈利状况的不同，对贷款损失准备监管要求进行动态化和差异化调整。

Implement loan losses, ready to dynamic supervision。Combined with a provision system international reform progress，Banking regulatory commission (CBRC) issued in 2011《About China banking regulatory standards implementing new guidance》Put forward for loan dial does not rate of less than 2.5%，Dial of no less than 150% for coverage。At the same time，Establishing the dynamic adjustment system for loan losses，According to the different stages of economic development、Banking financial institutions loan quality difference and profitability is different，For loan losses, ready to regulatory requirements for dynamic and differential adjustment。

　　引入杠杆率指标约束不审慎扩张。为有效约束银行过度的资本扩张，防止银行过高负债，银监会引入了杠杆率监管指标。

Introducing leveraged index constraints are prudent expansion。For effective constraint bank excessive capital expansion，Prevent high bank debt，The CBRC introduction leverage regulatory index。

　　建立流动性风险监管框架。2011年《关于中国银行业实施新监管标准的指导意见》将流动性覆盖率、净稳定融资比例这两项指标均设定为不低于100%。

Establish the liquidity risk regulatory framework。2011 years《About China banking regulatory standards implementing new guidance》Will the liquidity coverage、Net stable ratio of financing the two indexes are set to not be less than 100%。

　　从指导意见来看，中国即将实施的监管标准相对于国际准则均有所提高。如核心一级资本充足率从巴塞尔Ⅲ要求的4.5%上调为5%，一级资本充足率和资本充足率则保持6%和8%不变，储备资本（留存资本）、逆周期资本和系统重要性机构的附加资本目前暂与巴塞尔Ⅲ保持一致。杠杆率也从巴塞尔Ⅲ要求的3%提升至4%。另外，中国的新监管准则相对于巴塞尔Ⅲ这一国际最新监管原则在指标的定义方面也略显严格。

From the guiding opinions and see，China will carry out the supervision of the international standards for the relative standard are improved。Such as the core level 1 capital adequacy ratio of 4.5% from Ⅲ Basel requirements raised to 5%，Level 1 capital adequacy ratio and capital adequacy ratio of 6% and 8% remain unchanged，Reserve capital（Retained capital）、Inverse cycle capital and the additional capital of the organization system importance now temporary with the Basel Ⅲ is consistent。Leverage from the requirements of the Basel Ⅲ 3%, rising to 4%。In addition，China's new regulatory standards relative to the latest international Basel Ⅲ regulatory principles in the definition of the index also slightly strictly。

　　2.我国银行业监管政策展望

2. China banking regulatory policy prospects

　　从发展方向看，未来我国将继续吸取国际金融危机的经验教训，借鉴国际组织和其他主要国家监管改革方式，从微观和宏观两大层面进行符合我国国情的监管改革。

From the development directions，The future China will continue to learn the lessons of the international financial crisis，Learn experience from international organizations and other major national regulatory reform mode，From the macro and micro level two regulatory reform to China's national conditions。

　　（1）微观层面：构建新的监管工具体系

（1）Micro level：The construction of new regulatory tool system

　　《巴塞尔Ⅲ》在提升原有资本充足率要求的同时，引入了包括逆周期超额资本、流动性比率、杠杆率在内的一揽子新监管指标和监管工具。事实上，我国银行业金融机构面临的监管标准一直相对严格。从银监会对杠杆率测算情况看，目前大中小型银行的杠杆率标准已整体超过巴塞尔委员会提出的3%的要求，而流动性指标整体上也已达标。因此，未来我国将对《巴塞尔Ⅲ》中的新监管指标进行科学引入和吸纳，结合我国实际情况，构建新的监管工具体系。一方面适当提升《巴塞尔Ⅲ》中各类资本充足率和杠杆率最低要求，适当缩短过渡期，并考虑要求我国业务规模较大、业务复杂程度较高、发生重大风险事件对整个金融系统将带来较大风险的银行，增加系统重要性银行附加资本；另一方面，以拨贷比作为对现有拨备覆盖率的补充，共同作为反映银行风险抵御能力的监管工具，从而弥补拨备覆盖率仅能反映对已有不良贷款的覆盖，而不能反映不良贷款发生较大幅度波动时银行的动态风险抵御能力的不足。

《Basel Ⅲ》In ascension capital adequacy requirements of the original at the same time，Introduced including inverse cycle excess capital、Liquidity ratio、Leverage ratio, the new regulatory index and regulatory package tools。In fact，Financial institutions are facing China's banking supervision standards have been relatively strict。From the banking regulatory commission rate can see the measure of leverage，At the small and medium-sized Banks leverage standard already whole more than 3% of the Basel committee put forward the requirements，But on the whole has also index fluidity standards。so，The future of our country《Basel Ⅲ》The new regulatory index introduction and absorption of science，Combined with the actual situation in our country，The construction of new regulatory tool system。On the one hand appropriate ascension《Basel Ⅲ》In all kinds of capital adequacy ratio and leverage the minimum requirements，Shorten appropriately transition，And consider to ask our country business in large scale、Business complex degree is higher、Major risk events on the whole financial system will bring greater risk of the bank，Increasing system importance additional capital bank；On the other hand，To dial the loan to the existing dial than as a complement for coverage，Common as reflects a bank against the risk ability regulatory tool，And compensate for coverage can only reflect the dial of bad loans have coverage，But cannot reflect the bad loans in dramatic happened fluctuate bank against the shortage of the dynamic risk ability。

　　（2）宏观层面：开展适合我国国情的宏观审慎监管

（2）The macroscopic level：Carry out suitable for China's national conditions of macro prudent supervision

　　与西方发达国家不同，我国银行业金融机构发展层级相对较低，具体表现为直接融资市场体系发展相对滞后，经济体融资结构单一；金融产品相对简单，金融衍生品交易额度较少，金融创新相对滞后；银行经营同质化倾向较为明显，分层银行体系尚未完全建立。因此，未来我国将开展符合自身国情的宏观审慎监管。一是将监管重点放在房地产、地方政府融资平台等银行风险较为集中的领域，对银行信贷集中投向领域和受政策性因素影响较大领域予以重点监管关注。二是引导银行差异化、多元化发展，降低银行机构之间的相关性和同质性，促使银行在不同细分市场和客户群中有序分层发展，以更好地满足客户真实需求。三是逐步完善银行公司治理结构，强化银行内部风险识别、风险监测、风险计量和风险管控体系。

And the western developed countries in different，Our country banking financial institutions development level is relatively low，The specific performance of direct financing market system develop relatively slowly，Economies financing structure and single；Financial products relatively simple，Financial derivatives trading less amount，Financial innovation relative lag；The bank management homogeneity is obvious tendency，Layered bank system has not been fully set up。so，The future will be carried out in our country consistent with their own national conditions of macro prudent supervision。One is to put the emphasis on regulation of real estate、The local government financing platform and bank risk is relatively concentrated area，Focus on bank credit to the field and the policy factors affected areas to the emphasis on the supervision on the attention。Two is to guide the bank differentiation、Diversified development，Reduce the correlation between the banking institutions and homogeneous，Prompted Banks in different segments of the market and target customers in an orderly development stratification，To better satisfy customer real need。Three is gradually improve the corporate governance structure，Strengthen the bank's internal risk identification、Risk monitoring、Risk measurement and risk control system。

　　需要注意的是，中国的银行业在相对长的时期内必然保持一个资本需求旺盛的发展特征，强化资本配置可以在一定程度上增强资本使用效率，并减缓对资本需求的强度，但是不会改变这个大的趋势。从这个意义上说，中国的银行业对资本的需求强度大，是当前特定的经济发展阶段和金融市场结构所决定的，除了促使银行业更加注重资本配置效率之外，不应简单学习发达国家的资本约束要求，而应当更加鼓励和开辟多元化的资本补充渠道，以合规、有效、市场化的方式来满足银行在这个阶段对于资本的旺盛需求，以此促进实体经济的发展，同时也促进银行体系自身的发展。

Note，China's banking in the relatively long period must keep a capital demand the development characteristics，Strengthen capital allocation can to a certain extent increase capital efficiency，And slow down the strength of demand for capital，But won't change the big trend。In this sense，China's banking on capital needs strength，Is the current specific economic development stage and financial market structure of the decision，In addition to paying more attention to the banking industry outside the capital allocation efficiency，Should not be simple learning the developed countries of the capital constraints requirements，And be the more encouragement and open up more capital added channels，In compliance、effective、Market ways to meet the bank at this stage of the strong demand for capital，To promote the development of the real economy，It also promotes the development of their own banking system。

　　三、监管政策新趋势对商业银行的影响及建议

three、Regulatory policy new trend to commercial Banks and the influence of the proposal

　　1.监管政策新趋势对商业银行的影响

1. The new regulatory policy trend to the influence of the commercial Banks

　　（1）短期对商业银行实质性影响有限

（1）Short-term to commercial Banks, substantial influence

　　从短期看，当前颁布的新监管标准符合市场预期，对银行业实质性影响不大。。对于新监管标准规定的四大类监管工具，目前大部分指标商业银行已经达标，因而对银行经营和利润不会产生新的边际影响。

In the short term，The current regulatory standards promulgated new according with market expectations，For the banking industry substantial influence is not big。。For new regulatory standards of the four categories regulatory tool，At present most index commercial Banks have the standards，So for the bank management and profits will not produce new marginal influence。

　　（2）中长期势必对我国银行业带来相应约束

（2）Long-term members of China's banking industry bring corresponding constraint

　　然而，中长期来看，中国银行业面临着消化2008年以来大规模信贷投放带来的潜在金融风险的压力，国际上金融危机从次贷危机进一步演变为主权债务危机、国内地方政府债务压力特别是地方政府融资平台贷款的风险隐患犹存，宏观经济增速在结构调整政策以及外部冲击下将明显回落，这些必然会加大银行业的资本压力等多方面的负担。

however，Long-term to see，China banking faces digestive since 2008 mass the supply of credit about potential financial risk of pressure，The international financial crisis from the subprime crisis further evolution of sovereign debt crisis、Domestic local government debt pressure especially local government financing platform loan risk potential in late February，Macro economic growth in the structure adjustment policies and external impact will be apparent，These will increase the pressure of the banking industry and other aspects of capital account。

　　资本质量要求提高，外延式业务增长模式难以为继。从新颁布的《资本办法》中可以看出，顺应巴塞尔委员会的要求，我国银行监管新工具箱的核心监管工具仍然是资本要求，在原有资本充足率框架下，要求银行额外计提资本留存超额资本、反周期超额资本和系统重要性银行附加资本，资本对银行业务发展的制约作用日益显著，传统的规模扩张业务发展模式将受到较大冲击。

Capital increase quality requirements，Denotative business growth pattern to be carried on。Promulgated by the new《Capital measures》Can be seen in the，Comply with the requirements of the Basel committee，China bank supervision new toolbox of regulatory instrument is still core capital requirements，In the original capital adequacy ratio framework，Require Banks to extra provision for capital retained excess capital、The excess capital and system cycle importance additional capital bank，Capital on bank business of restricting the development of the significant role，Traditional development mode of the scale expansion of business will be bigger impact。

　　引入杠杆率监管指标，银行表内外业务扩张受限。《新标准指导意见》要求银行一级资本占调整后表内外资产余额的比例不低于4%。杠杆率监管要求同时考虑对于银行表内外业务计提核心资本，将有效约束银行过度资本扩张，防止银行过高负债，也将约束一些交易类衍生品业务的过度扩张。

Introducing leverage regulatory index，Bank table inside and outside business expansion limited。《The new standard instruction opinion》Require Banks to account for capital after adjusting the level table inside and outside the proportion of assets balance of less than 4%。Leverage regulatory requirements for Banks and considering internal and external business plan carry core capital table，Will be effective constraint bank excessive capital expansion，Prevent high bank debt，Also some constraints of derivatives trading business of excessive expansion。

　　实施动态拨备监管，传统盈利模式面临挑战。银行贷款拨备比率不得低于2.5%，意味着商业银行对于任意一笔新增贷款，首先要提2.5%的拨备，贷款规模越大，贷款拨备金额将同步增加，这将大幅压缩银行业净息差收入，传统的以存贷款业务为主体的经营结构和以利差为主的收益结构将难以为继；拨备覆盖率不低于150%，意味着商业银行必须计提更多的贷款损失准备金，直接影响银行当期的利润规模。

Implementation for dynamic dial regulation，The traditional mode profits faces a challenge。Bank lending rate provision shall not be lower than 2.5%，Means that commercial Banks for any pen new loans，First mention 2.5% of a provision，The greater the size of the loan，The loan amount will synchronize increase provision，This will slash banking net spreads income，The traditional to deposit for the main business structure and to spread the income structure will give priority to be carried on；Dial of no less than 150% for coverage，Means that commercial Banks must plan carry more loan loss reserves，Directly influence the bank profits of the current size。

　　流动性监管要求提高，银行业务结构和客户结构调整势在必行。流动性覆盖率要求银行必须持有具有更高流动性但可能生息能力较差的资产，保证压力情境下持续30天的资金净流出水平。净稳定融资比率则要求银行必须更多地吸收存款，满足一年内可用的稳定资金来源大于稳定资金需求。

Liquidity improve supervision requirements，Bank business structure and customer structure adjustment is imperative。Liquidity requirements must have the bank has coverage higher liquidity but may interest-bearing ability is bad assets，Guarantee for 30 days under pressure situation of net capital outflow level。Net stability requires Banks must financing rate more absorb deposits，Meet a year the stability of the available funds more than stable financing needs。

　　2.下一阶段对商业银行的发展建议

2. The next phase of the commercial bank's development Suggestions

　　伴随着我国银行体制转轨，银行资本的补充方式也由十年前的特别国债、资产剥离、政府注资等行政化手段发展到如今增资扩股、次级债、混合债等市场化融资手段。而欲保持我国银行体系资本充足率稳步提高，就必须建立起市场化的长效资本金补充机制。

Along with our country bank system transformation，Bank capital supplementary way by ten years ago and the special national debt、Asset stripping、Government administrative means such as injection development to now increase endowment spread、Subprime debt、Hybrid debt market financing method, etc。To keep the Chinese banking system capital adequacy ratio has risen steadily，It must set up marketization of long-term capital complementary mechanism。

　　（1） 内部资本积累是商业银行最根本、最持久的资本补充机制。内部资本积累是指依靠银行留存收益补充核心资本的方式，即在银行资本不足的情况下，银行通过留存收益增加银行资本，支持银行发展。这种资本补充的方式的最大好处是，银行在这一机制下完全处于主动位置，具有充分的灵活性和弹性，而且成本最低，不会稀释老股东的股权比例，所以利用留存收益补充资本金是提高核心资本最根本、最持久的途径。建立以内部资本积累为主导的资本补充机制，需要商业银行积极转变业务模式和盈利模式，由以信贷扩张为主的资本消耗型业务增长模式向资本节约型业务增长模式转变。通过节约资本、降低成本、增加利润，从而增加内生资本，就可以有资本能力支持规模扩张，并进入一个良性循环。

（1） Internal capital accumulation is the most fundamental commercial Banks、The most enduring capital complementary mechanism。Internal capital accumulation is to point to rely on Banks retained earnings added core capital way，That is the shortage of capital in the bank，Bank through the retained earnings increase bank capital，Support bank development。The capital of the supplement the biggest advantage is way，Banks in this mechanism in completely active position，It was full of the flexibility and elasticity，And the lowest cost，Won't dilute the old shareholders' equity ratio，So the use of retained earnings added capital is to improve the most fundamental core capital、The most lasting way。Establish internal capital accumulation of capital for leading the complementary mechanism，Need to commercial Banks to change business model and profit model，By credit expansion as consumption mode to business growth capital intensive business growth capital model changes。Through the save capital、Reduce cost、Increase profits，To increase the endogenous capital，Can have capital support scale expansion ability，And into a virtuous cycle。

　　（2）建立多渠道资本补充机制，加强资本规划的长效性。目前我国商业银行资本充足率面临信贷高投放和资本监管趋严的双重挑战，资本补充压力巨大，单靠内部资本积累方式补充资本难以在短时期内缓解资本约束压力，因此，应鼓励商业银行采取多钟方式补充资本金。首先，通过股权融资补充核心资本。其次，通过多种渠道补充附属资本。上市银行可积极利用可转债工具补充附属资本，其在转股后又可顺利转变成核心资本，起到一次发行两次补充的作用。

（2）To set up multi-channel capital complementary mechanism，Strengthen capital planning of long-term sex。At present our country commercial bank capital adequacy ratio face high on credit and capital is strict supervision of dual challenges，Capital added pressure，Only by internal capital accumulation way to supplement capital in the short term capital constraints relieve pressure，so，Commercial Banks should be encouraged to take more minutes way added capital。first，Through the equity financing added core capital。second，Through a variety of channels added affiliated capital。Listed Banks can actively use convertible bonds tool added affiliated capital，The convertible and smooth transition into core capital，Have a release two added role。

　　（3） 推进经营结构持续调整，力争从原来的“高资本占用”的业务模式，向“资本节约型”业务模式转变。一是持续调整资产负债结构。在保持信贷适度、均衡增长的同时，更多地盘活存量、做大流量；加快优化信贷结构，提高优质客户贷款和高收益贷款比重。二是进一步改善收入结构。提高非存贷利差收入占净收入的比重，进一步形成多元化的收入增长格局；加大中间业务收入贡献较大的对公对私理财业务、投行咨询业务、银行卡等业务的拓展力度；创新零售银行业务发展模式，零售业务能在风险较低的情况下为商业银行提供长期稳定的收入来源，且资本占用少。三是优化客户结构。优先满足风险调整后综合收益高的优质战略客户，提高中小企业贷款和高价值客户的占比；增加高价值客户，特别是对公战略客户、中小企业客户、对私贵宾客户和私人银行客户。四是加大综合经营力度，拓展收入来源。开展以发挥协同效应为目的的各种整合与重组，以拓宽业务领域、开展金融创新、优化收入结构、提高风险资产收益率。

（3） Promote business structure constant adjustment，Strive to from the original“High capital takes up”Business model，to“Capital saving”Business mode changes。One is the constant adjustment asset liability structure。In moderate to keep credit、Balanced growth at the same time，More to revitalize the stock、Do big flow；To speed up the credit structure optimization，Improve the quality and high yield loan customers loans proportion。Second, further improve income structure。Improve the deposit and loan interest income accounts for the proportion of net income，Further formation of diversified income growth pattern；Increase the contribution of business income among large public to private finance business、Investment consulting business、Debit card service development efforts；Innovation retail banking development model，Retail business in the situation of low risk for commercial Banks to provide long-term stable source of income，And capital takes up less。To optimize the structure of customers。Give priority to risk adjusted comprehensive income of high quality strategic customers，Improve the small and medium enterprise loans and high value for customers than；Increase customer high value，Especially tests of strategic customers、Small and medium-sized enterprise customers、For private VIP customers and private bank customers。Four is to increase comprehensive operation strength，Expand source of income。Carry out to play the coordination effect for the purpose of all kinds of integration and reorganization，To broaden the business field、Financial innovation in、Income structure optimization、Raise the risk the return on assets。

　　（4）继续推进信贷资产证券化业务的发展。资产证券化是国外商业银行降低风险资产额，提高资本利用率的重要手段之一。因此商业银行应呼吁监管当局继续推进我国商业银行信贷资产证券化业务的试点，并认真总结危机中证券化业务暴露的问题以及危机后国际监管思路的改革，精心设计适合我国金融发展水平的资产证券化产品及其制度框架，以切实防控住这一类产品的推出所可能带来的各种风险。

（4）The securitization of credit assets to continue to push forward the development of the business。Asset securitization is foreign commercial Banks to reduce risk assets，Improve the utilization rate of capital one of the important methods。So commercial Banks should call for regulatory authorities continue to advance our country commercial bank credit asset securitization of experiments，And to summarize crisis securitisation exposed problems and international regulation thinking after crisis of reform，Elaborate design suitable for China's financial development level of asset securitization products and institutional framework，In order to live this kind of crime prevention and control product launch may with all kinds of risk。

　　（5）坚持银行日常经营与风险管控并重。基于风险管理梳理银行业务流程，加快流程银行建设，打造畅通、有序、稳健的业务流程，支持银行业务的长期发展和稳健经营。商业银行应逐步将风险管理理念渗透到公司治理的各个方面，在满足巴塞尔协议和本国监管机构的要求基础上，进一步理顺风险管理相关业务流程，纳入银行风险管理政策，规范风险管理及相关业务运营，从政策和流程方面加强对潜在风险的规避力度，提高银行长期竞争力。

（5）Adhere to the bank daily operations and pay equal attention to risk control。Based on risk management comb bank business process，To speed up the process of the construction bank，Make clear、orderly、Steady business process，Support the long-term development bank business and stable operation。Commercial Banks should be gradually will risk management concept penetration to corporate governance in all its aspects，The Basel agreement and domestic in meeting the requirements of the regulators basis，Further streamline risk management related business process，Into the bank risk management policy，Standard risk management and relevant business operations，From the policy and process of strengthening the potential risk to the evasion of the strength，To improve the long-term competitiveness。

　　（作者系中国工商银行城市金融研究所中级经济师）

（The author is the industrial and commercial bank of China city financial institute intermediate economist）