中文摘要：

本文拟从我国银行业整体层面对货币政策和银行风险承担行为之间的关系进行研究，基于月度银行业全行业的资产负债表，构建了银行在资产及负债选择上风险承担指标。研究发现，我国宽松货币政策对银行风险承担的鼓励体现在银行的资产选择行为上，而不在银行的负债选择行为上。为了将风险承担渠道与货币政策的资产负债表渠道区分开，我们进一步用银行贷款审批条件指数进行了验证，发现贷款标准随货币政策放松而降低，表明风险承担渠道独立于传统的资产负债表渠道而存在。本文最后建立了VEC模型，分析了风险承担渠道对实体经济的影响能力，结果表明我国银行风险承担行为对实体经济的直接影响不容忽视。

英文摘要：

This paper examines the effect of monetary policy on bank risk taking from China＇s banking industry perspective. Based on monthly industry -wide banking sector＇s balance sheet, the paper constructs bank asset side risk taking and liability side risk taking indicators. We find that in China bank risk taking encouraged by loose monetary policy reflects in the bank asset side risk taking rather than in bank liability side. In order to separate the risk - taking channel from the balance sheet channel of monetary policy, we further conduct an em- pirical test using the bank loan approval conditions index, and find the lending standard is soften with the easing of monetary policy, which suggests the existence of risk - taking channel. At last, this paper established a VEC model to analyze the impact of the risk - taking channel on the real economy, and demonstrates that the direct impact of bank risk taking on the real economy can＇t be ignored.