Traditional monetary theory ignores the influence of monetary policy on bank risk-taking and financial ecology. This paper examines the effect of monetary policy on financial ecology from microcosmic view of commercial banks. Theoretically , financial ecology is associated with the system supply, transmission mechanism, and effectiveness of monetary theory; the bank risk-taking is significantly influenced by monetary policy through the mechanisms of valuations, incomes and cash flows, searching for yield, leverage adjustment, moral risk, and transfer of risks. Empirically, the paper constructs a new mathematical model with the fixed effect to examine the effect of monetary policy on financial ecology through commercial bank credit and risk-taking on the basis of panel data of public listed banks from 2008 to 2013. It is found that bank loans and bank risk-taking are significantly influenced by monetary policy, easy monetary policy will increase bank loans and bank risk-taking, and vice versa. The state-owned commercial banks are more sensitive to monetary policy, while the joint-stock commercial banks are more sensitive to financial ecology. So when the authorities conduct the management to the macro economy, they need to realize synergies between the monetary policy and macro-prudential policy.%传统的货币理论忽视了货币政策对银行风险承担及金融生态的影响，文章从商业银行的微观视角出发研究了货币政策对金融生态的影响机理。理论层面，金融生态与货币政策制度供给、传导机制和有效性相互关联，货币政策则通过资产价格或估值机制、收入及现金流机制、追求收益机制、杠杆调整机制、道德风险机制和风险转移机制影响商业银行的风险承担；实证层面，构建了货币政策影响商业银行信贷投放和风险承担的数理模型，选取国有和股份制两类共12家上市商业银行2008-2013年的面板数据进行固定效应模型实证检验。结果表明，宽松货币政策导致商业银行的信贷投放规模增加、风险承担意愿增强，有利于优化金融生态，反之则反是；国有商业银行对货币政策变化更敏感，而股份制商业银行对金融生态更敏感。因此，在我国宏观经济管理中，需要货币政策与宏观审慎政策相互协调配合。
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