摘要
商业银行的流动性涉及稳定经营，在市场竞争日趋激烈的现实情况下流动性风险也一
直对银行的盈利能力产生不可忽视的影响。为了维护银欧亿·体育（中国）有限公司的稳定秩序，我国监管部门不
断推进流动性风险监管与国际监管规则接轨，与此同时，我国流动性风险监管趋势也逐渐
专业化。我国原银监会在 2015年将监管指标存贷比调整为监测指标，2018年发布《商业
银行流动性管理办法》，办法引入新的量化监管指标：净稳定资金比例、流动性匹配率、
优质流动性资产充足率，并对各项指标进行了一系列优化完善。本文基于以上背景，采用
实证分析法，研究流动性指标对银行盈利能力的具体影响。
本文讨论并对比分析了不同盈利能力指标及流动性指标后，选取净稳定资金比例及流
动性比例作为解释变量，总资产收益率作为被解释变量，不良贷款率、资产规模、成本收
入比、资产负债率为控制变量，探究净稳定资金比例的样本银行为 22家上市银行，样本
时间区间为 2019年至 2021年；探究流动性比例的样本银行为 38家上市银行，样本时间
区间为 2016年至 2020年，建立模型进行实证分析。研究结果表明：净稳定资金比例对总
资产收益率有影响，且净稳定资金比例增加，总资产收益率增加，在 5%显著水平下系数
为 0.0022。流动性比例对总资产收益率有影响，且流动性比例增加，总资产收益率减少，
在 10%显著水平下系数为-0.0015。为了进一步研究影响程度，本文从不同类型银行以及不
同流动性能力银行角度分别研究讨论。
最后，本文针对商业银行如何提高盈利水平提出如下建议：首先是完善资产负债表结
构、推进资产证券化进程，其次是降低不良贷款数额及增长速度、建立流动性风险预警管
理。最后建议不同类型银行在市场定位、客户群体、产品服务等方面进行差异化管理。针
对监管部门实施流动性监管提出如下建议：首先是严格规范信息披露、引导商业银行在资
产负债表的数据方面进行完善，其次对流动性指标进行优化、完善监测管理体系。最后建
议监管部门在披露规则、监管力度、监管指标等方面对不同类型银行有所侧重。
关键词：
流动性监管；净稳定资金比例；流动性比例；总资产收益率
I

Abstract
The liquidity of commercial banks is related to the stability of their operations. In the
reality of increasingly competitive market, liquidity risk has always had a non-negligible impact
on the profitability of banks. In order to enable commercial banks to have the ability to operate
continuously and stably, China's regulators have been pushing forward to align liquidity risk
supervision with international regulatory rules, while at the same time, the trend of liquidity risk
supervision in China has been gradually professionalized. China's former CBRC adjusted the
regulatory indicator deposit-to-loan ratio to a monitoring indicator in 2015 and issued the
Measures for the Liquidity Management of Commercial Banks in 2018, several new quantitative
regulatory indicators have been introduced, namely the net stable fund ratio, the liquidity
matching ratio and the high-quality current asset adequacy ratio, and made a series of
optimization and improvement of each indicator. Based on the above background, this paper
adopts an empirical analysis to study the specific impact of liquidity indicators on bank
profitability.
After discussing and comparing different profitability indicators and liquidity indicators,
this paper selects net stable funding ratio and liquidity ratio as explanatory variables, return on
total assets as explanatory variables, and non-performing loan ratio, asset size, cost-to-income
ratio, and gearing ratio as control variables, and the sample banks for exploring net stable
funding ratio are 22 listed banks with a sample time interval of 2019 to 2021 The sample of
liquidity ratio is 38 listed banks, and the sample time period is from 2016 to 2020, and the
model is established for empirical analysis. The results of the study show that: the net stable
funding ratio has an impact on the return on total assets, and an increase in the net stable funding
ratio increases the return on total assets with a coefficient of 0.0022 at the 5% significant level.
the liquidity ratio has an impact on the return on total assets, and an increase in the liquidity
ratio decreases the return on total assets with a coefficient of -0.0015 at the 10% significant level.
to further investigate the extent of the impact This paper studies and discusses separately from
the perspective of different types of banks as well as banks with different liquidity capacity.
II
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