I
： 影子银行对金融业影响分析
摘要：随着经济全球化的不断深化，以及金融衍生品的大量出现，使得影子银行的数量不断增多，自身规模也得到了迅速的扩大。自金融危机以后，世界各地不断加强对影子银行问题的研究。影子银行作为一种新兴的信用创造体系，影子银行系统和传统的银行体系之间的功能相互联系并且职能相似，但是它也有高杠杆率、期限错配和不受金融监管的特征，使得影子银行的发展极不规范，从而更容易对金融稳定性造成影响。近年来，影子银行在我国得到了迅速发展，它已经成为我国金融体系中一股不可忽视的力量。随着影子银行信贷规模的提高，逐渐形成了套利行为，在缺乏金融监管以及法律约束的情况下，影子银行的发展很难受到控制，并且已经严重影响到了我国的金融市场。加强对影子银行的监管已经成为完善我国金融市场，规范金融体系的一件刻不容缓的事情。因此，我们应该公正客观的看待影子银行，不能一概而论，通过对影子银行的深入研究，探索其自身存在的问题，提出相应的办法并解决，从而不断规范影子银行的数量和规模，引导影子银行健康发展，进而不断强化金融创新，完善金融体系。
关键词：影子银行；金融稳定性；金融监管
II
Abstract：With the deepening of economic globalization, as well as financial derivatives
appearing in large numbers, the number of shadow banking is increasing, and the scale of
the shadow banking has been expanded rapidly. Since the financial crisis, around the world
continue to strengthen the study of shadow banking issues. Being an emerging credit
creation system, the shadow banking system is closely combined with the traditional
banking sector and function approximation, but it also has high leverage, maturity
mismatches and not subject to financial monitoring, which make itself a not-standard
development and easier to have impacts on financial stability. In recent years, the shadow
banking system has developed rapidly in China and become a force which cannot be
ignored in the China’s financial system. With the increasing size of shadow banking credit,
arbitrage has gradually formed. Lack of financial supervision and legal constraints,
development of shadow banking is difficult under control, and has seriously affected the
country's financial market. Therefore, in order to improve our financial markets and
regulate our financial system, it has become an emergency to tighten the regulation of
shadow banking. Therefore, we should be fair and objective to the shadow banking,
through the in-depth study of shadow banking, to explore its own problems, and propose
appropriate measures to solve, thus continue to regulate the number and size of the shadow
banking, and guide the healthy development of the shadow banking, and thus continue to
strengthen financial innovation, improve the financial system.
Key words: shadow banking; financial stability; financial supervision
III
目录
绪论 ................................................................... 1
1 影子银行的基本概述 ................................................ 2
1.1 影子银行的定义 .................................................. 2
1.2 影子银行的特点 .................................................. 2
2 影子银行的发展现状 ................................................ 3
2.1 影子银行现状分析 ................................................ 3
2.2 影子银行发展趋势 ................................................ 3
3 我国影子银行存在的问题 ........................................... 4
3.1 流动性风险 ...................................................... 4
3.2 系统性风险 ...................................................... 4
3.3 市场监管不到位 .................................................. 5
3.4 信息披露机制不健全 .............................................. 6
4 完善我国影子银行的措施和建议 .................................... 6
4.1 实行利率市场化改革 .............................................. 6
4.2 深化金融体制改革，积极推进金融创新 .............................. 7
4.3 加强金融监管，完善法律体系 ...................................... 7
4.4 形成有效的信息披露机制 .......................................... 8
结论 .................................................................. 10
参考文献 ............................................................. 11
致谢 .................................................................. 12
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绪论
金融稳定不仅仅是经济稳定，更加影响到社会和谐以及人们的生活安定。这几年，影子银行作为一种迅猛发展的新兴金融力量，它对金融行业的影响是错综复杂的。近年来，影子银行的发展迅速，这不仅仅拉动了经济的增长，推动了金融的发展，而且影子银行也推动金融创新，提供多种理财方式，满足各种各样投资者的需求，增加了社会资金的流动，加快了资金的运转，提高了国民经济产出。因此影子银行在金融体系中具有举足轻重的作用。但同时，它也有可能对金融业的稳定性造成破坏，阻碍经济的发展。毕竟在我国金融体系尚未健全的环境下，影子银行作为一个尚未完全处于法制监管的金融机构，它的不完善将会造成一些金融漏洞，而在它不断发展壮大的同时，也对我国金融体系造成一定的冲击。所以，影子银行必须由金融监管部门进一步引导和规范，制定完善的监管措施，避免影子银行错误发展，避免其对金融市场的紊乱，避免造成对金融稳定性的破坏。因此，加强对影子银行的研究就具有重大的理论意义和深远的现实意义。
