Since the global financial crisis, banking regulations have become more stringent and complex. In particular, capital and liquidity adequacy requirements have been discussed extensively in various contexts. This study constructs a general equilibrium model that incorporates banks and households that hold both liquid and illiquid assets to compare the economic effects of capital and liquidity adequacy requirements. Simulations show that liquidity regulation in the style of current the Basel Accord, as well as capital regulation, reduces the probability of financial crisis after a recession, not only by restricting banks’ leverage, but also by aiding the recovery of asset prices.

自全球金融危机以来，银行业法规变得更加严格和复杂。特别是，在各种情况下都对资本和流动性充足性要求进行了广泛讨论。本研究构建了一个一般均衡模型，该模型将同时持有流动性和非流动性资产的银行和家庭纳入其中，以比较资本和流动性充足性要求的经济影响。模拟表明，当前的《巴塞尔协议》风格的流动性监管以及资本监管，不仅通过限制银行的杠杆作用，而且通过协助资产价格的恢复，降低了经济衰退后发生金融危机的可能性。