梁敏 魏晓琴 袁成全

摘 要：2008年金融危机后，巴塞尔委员会开始重新审视现有监管体系，并通过巴塞尔协议Ⅲ将杠杆率纳入到监管体系之中。中国也在2010年制定了银行业的杠杆率监管规定。通过计算20家商业银行的杠杆率水平和技术效率，分析了杠杆率对商业银行效率的影响。研究结论表明：我国主要商业银行杠杆率达标水平整体较好，国有商业银行普遍达到了银监会规定的4%的监管要求，部分股份制商业银行和城市商业银行在有些年份没有达到监管要求。杠杆率对银行技术效率、资产收益率有正向的影响，对不良贷款率、存贷比率有负向影响。因此需要注重资本充足率与杠杆率的配合，实施差异化的杠杆率监管，提升杠杆率的披露水平，推进商业银行经营业务的转型和创新，以此加强杠杆率的管理，提升商业银行效率。

关 键 词：商业银行;杠杆率;银行技术效率;资产收益率;不良贷款率;存贷比率

中图分类号：F830 文献标识码：A 文章编号：2096-2517（2018）03-0024-012

DOI：10.16620/j.cnki.jrjy.2018.03.003

Abstract： After the 2008 financial crisis，the Basel Committee began to re-examine the existing regulatory system and incorporated the leverage rate into the regulatory system through Basel III. In 2010， China Banking Regulatory Commission also began to develop Chinas banking sector leverage regulations. By calculating the leverage level and technical efficiency of 20 commercial banks， this paper analyzes the impact of leverage on the efficiency of commercial banks. The conclusion of the study shows that the level of leverage ratio of major commercial banks in China is fine， and the state-owned commercial banks generally meet the 4% regulatory requirements stipulated by the CBRC. Some of the joint-stock commercial banks do not meet the regulatory requirements in some years. Leverage rate has a positive impact on the banks technical efficiency and return on assets. The leverage rate has a negative impact on the NPL ratio and the deposit and loan ratio. Based on the above conclusions， the paper puts forward some policy suggestions from the perspective of commercial banks and banking supervision. Therefore， it is necessary to focus on the cooperation between capital adequacy ratio and leverage rate， implement differentiated leverage rate supervision， increase the disclosure level of leverage rate， and promote the transformation and innovation of commercial banking business so as to strengthen the management of leverage rate and improve the efficiency of commercial banks.

Key words： commercial banks; leverage ratio; technical efficiency of banks; assets return rate;bad loan rate; loan-deposit ratio

一、引言

2008年國际金融危机给全球银行业造成巨大冲击， 引起了国际和国内的学者以及银行业监管机构的关注。 国际学术界和巴塞尔委员会通过对国际银行业危机的研究和分析， 逐渐认识到银行业的高杠杆是引发此次危机的重要原因。 在银行业高杠杆的背景下，表内资产大量转移到表外，这就造成银行的账面资本永远比实际资本高很多，长期积累下来，就会引发银行风险。

2010年9月，为了对银行业实施更好的监管，巴塞尔委员会制定了全球商业银行新的监管标准——巴塞尔协议Ⅲ。……