本文通过建立理论模型研究风险资产流动性对银行持有风险资产的行为以及银行稳定性的影响。得出风险资产的流动性尽管有助于银行以较小损失变现资产，却会鼓励银行承担更多风险（即持有更多风险资产），反而会降低银行稳定性；但如果危机期间，中央银行通过公开市场操作、贴现窗口甚至直接购买风险资产的形式提高市场流动性，就能够提高银行稳定性。这就要求我国在促进信用衍生产品发展的同时有必要实施BaselⅢ，监管银行的流动性风险和提高其资本质量，引导其审慎经营。%This paper shows that how the liquidity of bank risky asset affects the bank behavior and its stability, and finds out that bank have an incentive to take on an amount of new risk that more offsets the positive direct impact on stability. In order to prevent banking crisis, we should care about the bank liquidity risk.
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