我国商业银行次级债发行的市场约束功能分析.pdfVIP

Abstract After the financial crisis in 2007, the Basel Accord III set new standard of capital adequacy ratio to commercial banks , then, China promulgated ―Commercial Bank Capital Management Method‖ which required to hike bank’s capital adequacy ratio, meanwhile, set new requirement for subordinated debt that counted as Bank supplementary capita in order to correct the purpose of issuing subordinated debt for Chinese commercial banks , who used to issuing subordinated debt only to add more capital and hike capital adequacy ratio, put the emphasis on the earliest purpose of issuing subordinated debt which means to perfect the market discipline mechanism and promote the development of Chinese Banking. After ten years’ development, the development of subordinated debt would surely come to a new stage. This paper is hoping to investigate and study the market discipline in subordinated debt for Chinese commercial banks, this article has made a great deal of explorations into the market discipline in subordinated debt for Chinese commercial banks during 2006-2011. At first, this article summarized the related documents of discussing market discipline in subordinated debt, made a whole framework with theory basis and the mechanism of market discipline in subordinated debt. On the basis of the framework, this article made a compare in market discipline in subordinated debt of Chinese commercial banks and foreign commercial banks, explored the reference significance for China for knowing more about how to develop the market discipline in subordinated debt for Chinese commercial banks. After that, the article made a research to market discipline