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今年年初以来,伴随着监管部门对资本充足率监管的升级,我国商业银行业开始掀起一浪高过一浪的次级债发行热潮,如何看待本轮次级债发行热以及由此引发的影响也越来越受到业内和市场的关注。次级债作为附属资本,其本身抵御风险的能力有限,特别是银行同业间的过度交叉持有次级债和混合债券,使商业银行的资本充足率虽然达到了形式上的要求,而实际上并没有从根本上增加整体的稳健性。基于我国债券市场的现状和对银行风险管理的要求,商业银行不能也不应过分“依赖”次级债补充资本充足率,应该以增加利润、提升业务量的方式来彻底解决资本金不足的困局。
Since the beginning of this year, along with the regulatory authorities’ escalation in the regulation of capital adequacy ratio, commercial banks in our country have started waves of subprime issuance boom. How do we view the current round of issuance of subordinated debt and the consequent impact? Also more and more attention by the industry and the market. Subordinated debt as ancillary capital, its own ability to resist risks is limited, especially cross-bank interbank holding subordinated debt and hybrid bonds, commercial banks although the capital adequacy ratio reached a formal requirement, but in fact Did not fundamentally increase the overall robustness. Based on the current situation of China’s bond market and the requirements of bank risk management, commercial banks can not and should not excessively replenish the capital adequacy ratio of subordinated debt. We should thoroughly solve the problem of insufficient capital by increasing profits and increasing business volume The dilemma.