| Abstract: | Based on micro-data of 24 banks during 2013-2017, the paper empirically comfirms the existence of banks'' moneytary policy risk-taking channels, the regulating effect of loan loss reserves, as well as the impacts of heterogeneity characteristics of commercial banks on risk-taking. The empirical results show that :(1)Risk taking effect of moneytary policy exists accroding to quantiry tools and price tools, but the structured tools. (2)Bank loan loss preparation can reduce the impact of monetary policy on the risk-taking of banks. Therefore, this paper gives policy recommendations that the central bank should take risk-taking of bank into account and implement different monetary policy combination to reduce risk-taking, regulatory authorities should take the loan loss reserve ratio index into the regulatory framework. |
