信用衍生品的信用风险转移对金融稳定性的影响

银行信用风险转移激励与监管当局提高金融稳定性的目标是一致的,监管当局应该通过鼓励金融机构之间的总信用风险转移,使得信用风险转移的收益最大化;研究还发现,随着跨部门之间信用风险转移的出现,为了使得个体激励与提高信用风险管理中金融机构稳定性的社会目标相一致,应该鼓励部门之间的差异化监管。

The Influence of Credit Derivative Risk Transfer on Financial Stability

The credit risk transfer encouragement of banks and the supervising authority's aim of improving financial stability are consistent. The supervising authority should maximize the lucre of credit risk transfer through encouraging the overall credit risk transfer among financial organizations. The research also finds that with the appearance of credit risk transfer among different departments,different supervisions among departments should be encouraged to identify individual encouragement with the social object of improving the stability of financial organizations in credit risk management.