摘要
金融衍生市场具有信用创造功能,其货币创造原理、抵押品、证券化程度以及对信用扩张能力与商业银行传统的信用创造机制相比有很大的区别。独特的信用创造机制放大了金融衍生工具交易后面临的市场风险、信用风险、流动性风险、法律风险,从而增加了系统性危机发生的可能性。重新构建我国金融衍生工具交易后监管的框架,是达到对系统性风险有效监控的必然选择。
Financial derivatives market has credit creation function principle, the big difference comparing the currency creation principle, collateral, securitization to credit expansion ability and the traditional commercial bank credit creation mechanism is different collateral, securities degree. The unique credit creation mechanisms magnify the financial derivatives trading post facing the market risk, credit risk, liquidity risk, legal risk, and increase the likelihood of a systemic crisis. Recommend building financial derivatives regulatory framework to strengthen information disclosure, macro and micro prudential supervision combine to strengthen the monitoring of systemic risk in the credit creation process.
出处
《经济与管理》
CSSCI
2013年第10期39-44,共6页
Economy and Management
基金
2012年度广东省社科规划项目(GD12CYJ05)
关键词
金融衍生工具
信用创造机制
交易后
系统性风险
抵押品
金融监管
Financial derivatives
Credit creation mechanism
Transaction
Systemic risks
Collateral
Financial regulation
