中文摘要：

政策不确定性背景下的货币政策银行风险承担渠道表现特征是一个亟待解答的问题。文章基于我国商业银行面板数据全面分析了政策不确定性环境下我国不同类型货币政策对银行风险承担水平的影响特征。实证检验表明,货币政策对银行风险承担水平有显著影响,货币政策越宽松,银行会承担越高的风险。而且,相对数量型货币政策工具而言,价格型货币政策工具对银行风险承担的影响更为显著。进一步研究发现,政策不确定性不仅对银行体系的稳定有负面冲击,而且对货币政策与银行风险承担水平之间的关系也有显著影响。随着政策不确定性程度的上升,货币政策的变化对银行风险承担水平的影响程度越来越大,而且这种影响在价格型货币政策工具中表现得更为明显。

英文摘要：

How bank risk-taking channel of monetary policy behaves in the circumstance of policy uncertainty is a question to be solved. Using the panel data of Chinese banking, this paper completely analyzes the impact of various types of Chinese monetary policies on bank risk-taking level in the circumstance of policy uncertainty. The empirical test shows that monetary policy has a significant impact on the bank risk-taking level. The looser monetary policy is, the more risk the bank takes. Moreover, compared with quantitative monetary policy tools, price-based monetary policy tools have more impacts on bank risk-taking. Further, we find that policy uncertainty not only threats bank stability, but also significantly affects the relationship between monetary policy and bank risk-taking level. As policy uncertainty in- creases, the impact of monetary policy on bank risk-taking level becomes more and more significant in particular for price-based mone- tary policy tools.