Yingkui Chen, Qing Xu

(School of Economics and Management, Qingdao University)

Abstract：

This article examines the impact of macro-prudential regulation policies on the asset allocation behavior of commercial banks in the sample range of banks from 2013 to 2018, including both listed banks and small and medium-sized non-listed banks.The results show that banks with similar asset allocation originally have heterogeneous asset allocation behavior after being impacted by regulation.In the listed bank group, the impact of regulatory policies did not lead to differences in the allocation of credit assets between the experimental group and the control group, but in the unlisted bank group, the impact of regulatory policies remained significant.In addition, policy shocks in both the listed bank group and the non-listed bank group have led to an increase in the proportion of financial investment assets in the experimental group banks, but the regression coefficient in the listed bank group is larger.

Key Words：

macro-prudential supervision; asset allocation of commercial banks; heterogeneous behavior