众文网1.如何看待中国当代的影子银行1000字论
关于影子银行的风险与规模的讨论，近日再次成为业内各方关注的话题。
有研究测算“中国式”影子银行的规模已经超过20万亿元，也有人将其视为中国金融业潜在的“头号”风险。到底该如何看待“中国式”影子银行的发展？ 其实，对于影子银行的发展现状，要一分为二地辩证看待，既不能谈虎色变，简单认为其是传递金融风险，引发金融危机的罪魁祸首，也不能任其过度自由发展、肆意扩张，而应在相关监管框架下，通过相关制度建设与金融领域的改革，有效引导影子银行创新发展，为实体经济发展服务。
作为金融创新的产物和结果，影子银行对经济金融发展具有重要的意义和影响。金融发展史就是一部不断创新的历史，影子银行的快速发展也不例外。
由于大量的融资需求无法在银行渠道得到满足，不得不寻求其他的融资方式，影子银行应时而出，这一创新的结果或手段，在一定程度上补充了正规体系对金融服务提供的不足。 从美国情况看，在过去20年中，伴随着经济的不断增长，人们对于信贷的需求与日俱增，美国的影子银行也相应地迅猛发展，并与商业银行一起成为金融体系中重要的参与主体。
现在，影子银行的规模日益膨胀，金融稳定委员会（FSB）此前的报告认为，截至2011年，全球影子银行的规模已高达67万亿美元，较2002年增长了41万亿美元。 尽管各界对于影子银行高度重视，但对这一新生事物的定义与范围的识别，尚存分歧。
2011年，金融稳定理事会从广义和狭义两个层面对影子银行进行了定义。广义的“影子银行”是指在传统银行体系之外涉及信用中介的活动和机构；狭义的“影子银行”是指可能引起系统性风险和监管套利的非银行信用中介机构。
在银监会2011年年报中，对照金融稳定理事会的定义，银监会认为，目前在监管范围的非银行金融机构并不属于影子银行的范畴。但社科院金融研究所金融重点实验室主任刘煜辉认为，我国的影子银行包含两部分，一部分主要包括银行业内不受监管的证券化活动，以银信合作为主要代表，还包括委托贷款、小额贷款公司、担保公司、信托公司、财务公司和金融租赁公司等进行的“储蓄转投资”业务；另一部分为民间金融市场，主要包括地下钱庄、民间借贷、典当行等。
或许正是由于定义上的差别，以及由此带来的统计困难或差异，影子银行的规模到底有多大，也并没有较为准确的数字。在此前十八大新闻中心集体采访活动时，央行行长周小川表示，我们的“影子银行”的性质和规模比发达国家的小得多。
即便如此，业内对此依然有多种“版本”估算。 如美国一家研究公司认为，中国影子金融的融资规模大约为20万亿元人民币。
而国内券商研究机构海通证券近日测算，我国影子银行规模大致在28。8万亿元。
刘煜辉则匡算认为，所谓的“中国式”影子银行的规模估计在25万亿元以上。 无论如何，“中国式”影子银行的快速扩张，已经成为不争的事实。
这一现实的背后，既有近几年中国经济抵御危机发展的原因，也有金融业亟待改革的内在需要。一方面，从2009年积极应对金融危机以来，影子银行的发展进入膨胀期，究其原因，在于数万亿投资所带来的大量融资需求，以及“制造业危机”导致部分资金流出实业，脱实向虚。
另一方面，则是金融领域内在的问题。瑞银中国首席经济学家汪涛近日表示，除了金融创新和监管套利等常规因素外，还存在着一些当前中国金融体系和货币政策模式下所特有的因素，说到底，造成影子银行快速发展的关键原因之一是各项政策目标以及各种政策工具之间的错配和冲突。
金融创新与金融风险历来是一对孪生兄弟。在此前由美国次贷危机引发的全球国际金融危机中，影子银行就扮演了重要的导火索角色。
正是由于影子银行比传统银行增长更加快速，并游离于监管体系之外，累积了相当大的金融风险。银监会在年报专栏中如此介绍：影子银行导致系统性风险的因素主要包括期限转换、流动性转换、不完全的信用转移和高杠杆等四个方面；监管套利是指由于对银行和影子银行监管尺度不一致，导致影子银行业务大量开展和金融体系风险积累。
日渐膨胀的“中国式”影子银行，尽管说其规模较小，并且基本在监管之内，但对于其隐藏的风险，并不能视而不见。此前，世界货币基金组织（IMF）发布的《全球金融稳定报告》就提示中国关注影子银行问题，因为这有可能把风险转嫁给银行。
银监会主席尚福林在2011年年报致辞中也指出，要持续加强银信合作和表外业务等领域风险防范，不断加强银行业与“影子银行”、民间融资之间的“防火墙”建设。 近日银监会副主席王兆星同样表示，影子银行的快速发展和扩张，带来了风险的严重积累，一旦发生失控也完全可能会形成系统性的风险，甚至会威胁到整个银行体系以及整个金融体系的安全。
显然，如何引导影子银行规范发展，既要使其成为支持实体经济发展的重要力量，又要有效控制风险，防范系统性风险发生，成为金融业不可回避的重要话题。 业内人士建议，首先，要加强对影子银行的识别和分类，对其进行综合统计和有效监管。
要立足实际，对“影子银行”的内涵、功能、规模、结构、风险等方面加。
2.影子银行相关外文文献,急
The shadow banking system is a term for the collection of non-bank financial intermediaries that provide services similar to traditional commercial banks. Former Federal Reserve Chair Ben Bernanke provided a definition in April 2012: "Shadow banking, as usually defined, comprises a diverse set of institutions and markets that, collectively, carry out traditional banking functions--but do so outside, or in ways only loosely linked to, the traditional system of regulated depository institutions. Examples of important components of the shadow banking system include securitization vehicles, asset-backed commercial paper (ABCP) conduits, money market mutual funds, markets for repurchase agreements (repos),investment banks, and mortgage companies." Shadow banking has grown in importance to rival traditional depository banking but was a primary factor in the subprime mortgage crisis of 2007-2008 and global recession that followed.[1][2]Contents [hide] 1 Overview2 Entities that make up the system2.1 Shadow banks' role in the financial system and their modus operandi2.2 The risks associated with shadow banking2.3 Recent attempts to regulate the shadow banking system3 Importance4 Risks or vulnerability5 History and origin of the term5.1 Examples6 Credit Derivatives Facilitate Extension of Credit6.1 Contribution to the 2007–2012 financial crisis7 See also8 Notes and references9 External links1.OverviewPaul McCulley of Pimco coined the term shadow banking.[2] Shadow banking is sometimes said to include entities such as hedge funds, money market funds,structured investment vehicles (SIV), "credit investment funds, exchange-traded funds, credit hedge funds, private equity funds, securities broker dealers,credit insurance providers, securitization and finance companies"[3] but the meaning and scope of shadow banking is disputed in academic literature.[2]According to Hervé Hannoun, Deputy General Manager of the Bank for International Settlements (BIS), investment banks as well as commercial banks may conduct much of their business in the shadow banking system (SBS), but most are not generally classed as SBS institutions themselves.(Hannoun 2008)[4][5] At least one financial regulatory expert has said that regulated banking organizations are the largest shadow banks.[6]The core activities of investment banks are subject to regulation and monitoring by central banks and other government institutions - but it has been common practice for investment banks to conduct many of their transactions in ways that do not show up on their conventional balance sheet accounting and so are not visible to regulators or unsophisticated investors.[7] For example, prior to the 2007-2012 financial crisis, investment banks financed mortgages through off-balance sheet (OBS) securitizations (e.g. asset-backed commercial paper programs) and hedged risk through off-balance sheet credit default swaps.[7] Prior to the 2008 financial crisis, major investment banks were subject to considerably less stringent regulation than depository banks. In 2008, investment banks Morgan Stanley and Goldman Sachs became bank holding companies, Merrill Lynch and Bear Stearns were acquired by bank holding companies, and Lehman Brothers declared bankruptcy, essentially bringing the largest investment banks into the regulated depository sphere.The volume of transactions in the shadow banking system grew dramatically after the year 2000. Its growth was checked by the 2008 crisis and for a short while it declined in size, both in the US and in the rest of the world.[8][9] In 2007 the Financial Stability Board estimated the size of the SBS in the U.S. to be around $25 trillion, but by 2011 estimates indicated a decrease to $24 trillion.[10] Globally, a study of the 11 largest national shadow banking systems found that they totaled $50 trillion in 2007, fell to $47 trillion in 2008, but by late 2011 had climbed to $51 trillion, just over their estimated size before the crisis. Overall, the worldwide SBS totaled about $60 trillion as of late 2011.[8] In November 2012 Bloomberg reported in a Financial Stability Board report an increase of the SBS to about $67 trillion.[11] It is unclear to what extent various measures of the shadow banking system include activities of regulated banks, such as bank borrowing in the repo market and the issuance of bank-sponsored asset-backed commercial paper. Banks by far are the largest issuers of commercial paper in the United States, for example.As of 2013, academic research has suggested that the true size of the shadow banking system m。
3.影子银行相关外文文献,急
The shadow banking system is a term for the collection of non-bank financial intermediaries that provide services similar to traditional commercial banks. Former Federal Reserve Chair Ben Bernanke provided a definition in April 2012: "Shadow banking, as usually defined, comprises a diverse set of institutions and markets that, collectively, carry out traditional banking functions--but do so outside, or in ways only loosely linked to, the traditional system of regulated depository institutions. Examples of important components of the shadow banking system include securitization vehicles, asset-backed commercial paper (ABCP) conduits, money market mutual funds, markets for repurchase agreements (repos),investment banks, and mortgage companies." Shadow banking has grown in importance to rival traditional depository banking but was a primary factor in the subprime mortgage crisis of 2007-2008 and global recession that followed.[1][2]Contents [hide] 1 Overview2 Entities that make up the system2.1 Shadow banks' role in the financial system and their modus operandi2.2 The risks associated with shadow banking2.3 Recent attempts to regulate the shadow banking system3 Importance4 Risks or vulnerability5 History and origin of the term5.1 Examples6 Credit Derivatives Facilitate Extension of Credit6.1 Contribution to the 2007–2012 financial crisis7 See also8 Notes and references9 External links1.OverviewPaul McCulley of Pimco coined the term shadow banking.[2] Shadow banking is sometimes said to include entities such as hedge funds, money market funds,structured investment vehicles (SIV), "credit investment funds, exchange-traded funds, credit hedge funds, private equity funds, securities broker dealers,credit insurance providers, securitization and finance companies"[3] but the meaning and scope of shadow banking is disputed in academic literature.[2]According to Hervé Hannoun, Deputy General Manager of the Bank for International Settlements (BIS), investment banks as well as commercial banks may conduct much of their business in the shadow banking system (SBS), but most are not generally classed as SBS institutions themselves.(Hannoun 2008)[4][5] At least one financial regulatory expert has said that regulated banking organizations are the largest shadow banks.[6]The core activities of investment banks are subject to regulation and monitoring by central banks and other government institutions - but it has been common practice for investment banks to conduct many of their transactions in ways that do not show up on their conventional balance sheet accounting and so are not visible to regulators or unsophisticated investors.[7] For example, prior to the 2007-2012 financial crisis, investment banks financed mortgages through off-balance sheet (OBS) securitizations (e.g. asset-backed commercial paper programs) and hedged risk through off-balance sheet credit default swaps.[7] Prior to the 2008 financial crisis, major investment banks were subject to considerably less stringent regulation than depository banks. In 2008, investment banks Morgan Stanley and Goldman Sachs became bank holding companies, Merrill Lynch and Bear Stearns were acquired by bank holding companies, and Lehman Brothers declared bankruptcy, essentially bringing the largest investment banks into the regulated depository sphere.The volume of transactions in the shadow banking system grew dramatically after the year 2000. Its growth was checked by the 2008 crisis and for a short while it declined in size, both in the US and in the rest of the world.[8][9] In 2007 the Financial Stability Board estimated the size of the SBS in the U.S. to be around $25 trillion, but by 2011 estimates indicated a decrease to $24 trillion.[10] Globally, a study of the 11 largest national shadow banking systems found that they totaled $50 trillion in 2007, fell to $47 trillion in 2008, but by late 2011 had climbed to $51 trillion, just over their estimated size before the crisis. Overall, the worldwide SBS totaled about $60 trillion as of late 2011.[8] In November 2012 Bloomberg reported in a Financial Stability Board report an increase of the SBS to about $67 trillion.[11] It is unclear to what extent various measures of the shadow banking system include activities of regulated banks, such as bank borrowing in the repo market and the issuance of bank-sponsored asset-backed commercial paper. Banks by far are the largest issuers of commercial paper in the United States, for example.As of 2013, academic research has suggested that the true size of the shadow banking system 。
4.论述什么是影子银行,其存在的问题与如何对其进行监管
“影子银行”是指没有传统银行以存款、贷款和结算为核心的业务组织形态，但却像传统银行一样提供融资、信用和流动性转换功能，直接或间接从事资金或信用中介的机构。
影子银行不是银行，却干着银行的活。它于上世纪六七十年代诞生于欧美，成名于2007年美国次贷危机。近年来，中国出现巨大的社会融资缺口，由于监管限制，银行无法直面客户，或者由于金融垄断，许多客户无法直接从银行获得资金，于是，影子银行应运而生，成为银行和客户之间的“倒爷”，成了资金融通的渠道。
很多中小企业不得不通过影子银行融资，也有很多行业从正常渠道不好获得贷款，或者资质差一点，银行贷款批不了，就通过影子银行这种方式绕过去。
5.2019中国影子银行季度监测报告
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原发布者：ohywnsy
2019中国影子银行季度监测报告2019年3月中国影子银行季度监测1.概要2.信贷环境（a）流动性状况（b）企业融资状况3.影子银行的构成及趋势（a）理财产品（b）信托业4.相互关联性以及向银行业的蔓延风险5.互联网金融的发展6.监管动态与市场事件7.附录：术语表、关于测算的注释和数据来源1概要概要»2018年影子银行规模减少人民币4.3万亿元，年底时降至人民币61.3万亿元，为2016年底（对影子银行的监管整治开始之前）以来的最低水平。2018年规模的减少集中在包括信托贷款、委托贷款和未贴现银行承兑票据在内的核心影子银行活动的收缩，这三类影子银行活动存量规模全年共下降了人民币2.9万亿元。»广义影子银行资产占GDP的比例下降了近20个百分点，从两年前87%的峰值降至2018年底68%的水平。这标志着2018年是过去十年以来广义影子银行资产首次出现绝对存量规模以及其占GDP的比例同时出现下滑。金融机构之间的相互关联性也有所下降，体现为银行间投资者购买的同业理财产品余额按年减少了63%，商业银行对非银行金融机构的净债权余额按年下降了34%。»随着货币政策放松，流动性和企业融资状况进一步改善，但整体信贷增长依然疲弱，并且以较短期信贷为主。2018年常规银行贷款占我们调整后社会融资增量的绝大部分比重。我们预计，新增信贷供应不断转回银行表内贷款的趋势将在2019年延续。但是，鉴于经济增长放缓，银行和债券投资者的避险意识依然较高。过去几个月银行
6.什么是影子银行
影子银行是指游离于银行监管体系之外、可能引发系统性风险和监管套利等问题的信用中介体系（包括各类相关机构和业务活动）。
影子银行引发系统性风险的因素主要包括四个方面：期限错配、流动性转换、信用转换和高杠杆。在中国，影子银行主要包括信托公司、担保公司、典当行、地下钱庄、货币市场基金、各类私募基金、小额贷款公司以及各类金融机构理财等表外业务，民间融资等，总体呈现出机构众多、规模较小、杠杆化水平较低但发展较快的特征。
影响：影子银行比较直接的影响包括： 1、利率比较市场化中国银行的利率是央行确定的，可以小幅度调整，整体不能动。但是影子银行不受央行规定的利率约束，贷款利率比较自由。
一般找影子银行贷款的企业，都是从正常银行体系贷不到款的企业，风险略高，所以利率也会略高。 由于有了影子银行，中国出现了（大量）利率略高的贷款，利率更市场化了。
2、加大了金融体系的风险传统银行内部管理体系完善，风险审核严格，外部又受到银监会的监管，总体是很安全的。影子银行系统发展历史比较短，一些事情半懂不懂，制度体系未必健全，外部监管也很薄弱，比较“野蛮生长”。