1 ) if bank capital are forbidden thoroughly to get into stock market , it will bring low profit on monetary market , constrict the development of capital market and affect the transmission of monetary policy ; 2 ) vice versa , allowing bank capital to flow into stock market too early may also lead to unfavorable effects , such as endangering financial stability , disturbing financial order and constraining the development of economy ( 1 )限制银行资金入市，造成了货币市场收益率低下，商业银行、保险公司在货币市场上融出资金基本无利可图，只好通过各种途径违规进入股市；使资本市场失去资金支持，不仅造成市场流动性不足，还因缺乏基准利率参照而难以形成合理的定价机制，制约了资本市场的发展；影响货币政策的传导，货币市场与资本市场的关联性低，货币政策信号受阻，传导路径相对单一，货币政策效应的时滞加大。
