2008金融海嘯及金融改革對房屋抵押貸款接受率的衝擊：從銀行資本及流動性的角度探討

Abstract

2008年金融海嘯促使一系列的金融法規改革，其中最著名的是美國Dodd-Frank法案及巴塞爾資本協定III。本研究探討2007-2009年金融海嘯以及金融海嘯後之法規改革對房屋抵押貸款接受率的影響，採用美國房屋抵押公開法(HMDA)下2004年至2015年的資料做為樣本研究。研究結果顯示相較於金融海嘯發生之前，銀行的資本適足率對銀行房屋抵押貸款接受率的影響在金融海嘯之後呈現更加正向相關，另一方面銀行流動性對房屋抵押貸款接受率的影響則呈顯著負相關。此研究結果顯示在金融海嘯之後，銀行的房屋抵押貸款受銀行本身的自我約束以及法規影響而更為謹慎。

The 2008 financial crisis led to the passage of a series of regulations, such as the Dodd–Frank Act and Basel III reforms. To study the effect of the 2007–2009 financial crisis and the effect of the regulation reforms on acceptance rate of mortgage loan, I use the data under the Home Mortgage Disclosure Act (HMDA) from 2004 to 2015. I find that relative to the pre-crisis period, the magnitude of bank capital ratio is more positively related to the acceptance rate of mortgage loan in the post crisis periods, while the magnitude of bank liquidity ratio is more negatively related to the acceptance rate of mortgage loan in the post crisis periods. This results suggest that after the financial crisis, acceptance rate of mortgage loan may be restricted by the banks themselves and by the regulations.