在利率市场化时代,银行将发生怎样的转变?失衡的利率结构利率市场化,标志着中国由政府管制利率时代进入市场化利率时代,银行业也从相对垄断时代进入完全竞争时代。这势必将对中国的金融格局和资源配置格局产生前所未有的影响和冲击。中国利率市场化始终同金融市场的发育相伴随。从上世纪80年代尝试建立金融市场、各地融资中心开展资金拆借活动算起,中国利率市场化已走过近30年的历程。从中国利率市场化思路看,基本上遵循着与管制利率并行,在边际上引入利率市场化,使得改革“帕累托改进”的改革路径。近十年,利率市场化改革不断加速,从2000年起,中国人民银行先后放开了除个别期限币种外的外币利率,逐步放开了人民币存款利率下限和贷款利率上限,试点放开了人民币协议存款利率,实现了金融同业存 In the era of market-based interest rates, what will happen to the banks? The unbalanced interest rate structure The market-based interest rates mark the era when the government controlled the interest rate market and entered a market-based interest rate era. The banking industry also entered the era of complete competition from the relatively monopolistic era. This is bound to exert unprecedented impact and impact on China’s financial structure and resource allocation pattern. The marketization of China’s interest rates has always been accompanied by the development of financial markets. From the 1980s trying to establish a financial market, financing centers around the capital borrowing activities, the Chinese interest rate market has gone through nearly 30 years of history. From the perspective of the marketization of interest rates in China, it basically follows the path of reform in parallel with the regulation of interest rates and the introduction of marketization of interest rates on the margins, thus making the reform more conducive to “Pareto Improvement.” In the past ten years, the market-based interest rate reform has been accelerating. Since 2000, the People’s Bank of China has successively liberalized the interest rates of foreign currencies except for certain maturities and gradually liberalized the lower limit of RMB deposit interest rates and lending rates. The pilot liberalization RMB agreement deposit interest rates, to achieve financial interbank deposit