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This chapter, based on the theory model derived from bank credit transmission channel and the balanced panel data of 18 Chinese commercial banks from 2008 to 2012, conducts empirical test and carries out classified study of China’s bank credit transmission channel and the effect of capital adequacy ratio on credit channel. Results show that the bank characteristics have, on a micro level, heterogeneity effects on credit transmission channel of monetary policy. Banks of higher capital adequacy ratio and smaller asset size are more vulnerable to the impacts of monetary policy. Therefore, the author proposes policy suggestions from the perspectives of optimizing the structure of financial markets and improving the monetary policy effect.

Capital Adequacy Ratio, Bank Credit Channel and Monetary Policy Effect