外文文献翻译
Commercial Bank Risk Management
An Analysis of the Process
山东建筑学毕业文外文文献翻译
附录1：
Commercial Bank Risk Management An Analysis of the Process
Abstract
Throughout the past year onsite visits to financial service firms were conducted to review and evaluate their financial risk management systems The commercial banking analysis covered a number of North American superregionals and quasi±moneycenter institutions as well as several firms outside the US The information obtained covered both the philosophy and practice of financial risk management This article outlines the results of this investigation It reports the state of risk management techniques in the industry It reports the standard of practice and evaluates how and why it is conducted in the particular way chosen In addition critiques are offered where appropriate We discuss the problems which the industry finds most difficult to address shortcomings of the current methodology used to analyze risk and the elements that are missing in the current procedures of risk management
1 Introduction
The past decade has seen dramatic losses in the banking industry Firms that had been performing well suddenly announced large losses due to credit exposures that turned sour interest rate positions taken or derivative exposures that may or may not have been assumed to hedge balance sheet risk In response to this commercial banks have almost universally embarked upon an upgrading of their risk management and control systems
Coincidental to this activity and in part because of our recognition of the industry's vulnerability to financial risk the Wharton Financial Institutions Center with the support of the Sloan Foundation has been involved in an analysis of financial risk management processes in the financial sector Through the past academic year onsite visits were conducted to review and evaluate the risk management systems and the process of risk evaluation that is in place In the banking sector system evaluation was conducted covering many of North America's superregionals and quasi±moneycenter commercial banks as well as a number of major investment banking firms These results were then presented to a much wider array of banking firms for reaction and verification The purpose of the present article is to outline the findings of this investigation It reports the state of risk management techniques in the industry—questions asked questions answered and questions left unaddressed by respondents This report can not recite a litany of the approaches used within the industry nor can it offer an evaluation of each and every approach Rather it reports the standard of practice and evaluates how and why it is conducted in the particular way chosen But even the best practice employed within the industry is not good enough in some areas Accordingly critiques also will be offered where appropriate The article concludes with a list of questions that are currently unanswered or answered imprecisely in the current practice employed by this group of relatively sophisticated banks Here we discuss the problems which the industry finds most difficult to address shortcomings of the current methodology used to analyze risk and the elements that are missing in the current procedures of risk management and risk control
2 What type of risk is being considered
Commercial banks are in the risk business In the process of providing financial services they assume various kinds of financial risks Over the last decade our understanding of the place of commercial banks within the financial sector has improved substantially Over this time much has been written on the role of commercial banks in the financial sector both in the academic literature and in the financial press These arguments will be neither reviewed nor enumerated here Suffice it to say that market participants seek the services of these financial institutions because of their ability to provide market knowledge transaction efficiency and funding capability In performing these roles they generally act as a principal in the transaction As such they use their own balance sheet to facilitate the transaction and to absorb the risks associated with it
To be sure there are activities performed by banking firms which do not have direct balance sheet implications These services include agency and advisory activities such as
(1) trust and investment management
(2) private and public placements through ``bestefforts'' or facilitating contracts
(3) standard underwriting through Section 20 Subsidiaries of the holding company
(4) the packaging securitizing distributing and servicing of loans in the areas of consumer and real estate debt primarily
These items are absent from the traditional financial statement because the latter rely on generally accepted accounting procedures rather than a true economic balance sheet Nonethelessthe overwhelming majority of the risks facing the banking firm are onbalancesheet businesses It is in this area that the discussion of risk management and of the necessary procedures for risk management and control has centered Accordingly it is here that our review of risk management procedures will concentrate
3 What kinds of risks are being absorbed
The risks contained in the bank's principal activities ie those involving its own balance sheet and its basic business of lending and borrowing are not all borne by the bank itself In many instances the institution will eliminate or mitigate the financial risk associated with a transaction by proper business practices in others it will shift the risk to other parties through a combination of pricing and product design
The banking industry recognizes that an institution need not engage in business in amanner that unnecessarily imposes risk upon it nor should it absorb risk that can be efficiently transferred to other participants Rather it should only manage risks at the firm level that are more efficiently managed there than by the market itself or by their owners in their own portfolios In short it should accept only those risks that are uniquely a part of the bank's array of services Elsewhere (Oldfield and Santomero 1997) it has been argued that risks facing all financial institutions can be segmented into three separable types from a management perspective These are
1 risks that can be eliminated or avoided by simple business practices
2 risks that can be transferred to other participants
3 risks that must be actively managed at the firm level
In the first of these cases the practice of risk avoidance involves actions to reduce the chances of idiosyncratic losses from standard banking activity by eliminating risks that are superˉuous to the institution's business purpose Common riskavoidance practices here include at least three types of actions The standardization of process contracts and procedures to prevent inefficient or incorrect financial decisions is the first of these The construction of portfolios that benefit from diversification across borrowers and that reduce the effects of any one loss experience is another The implementation of incentivecompatible contracts with the institution's management to require that employees be held accountable is the third In each case the goal is to rid the firm of risks that are not essential to the financial service provided or to absorb only an optimal quantity of a particular kind of risk
There are also some risks that can be eliminated or at least substantially reduced through the technique of risk transfer Markets exist for many of the risks borne by the banking firm Interest rate risk can be transferred by interest rate products such as swaps or other derivatives Borrowing terms can be altered to effect a change in their duration
Finally the bank can buy or sell financial claims to diversify or concentrate the risks that result from servicing its client base To the extent that the financial risks of the assets created by the firm are understood by the market these assets can be sold at their fair value Unless the institution has a comparative advantage in managing the attendant risk andor a desire for the embedded risk which they contain there is no reason for the bank to absorb such risks rather than transfer them
However there are two classes of assets or activities where the risk inherent in the activity must and should be absorbed at the bank level In these cases good reasons exist for using firm resources to manage bank level risk The first of these includes financial assets or activities where the nature of the embedded risk may be complex and difficult to communicate to third parties This is the case when the bank holds complex and proprietary assets that have thin if not nonexistent secondary markets Communication in such cases may be more difficult or expensive than hedging the underlying risk Moreover revealing information about the customer may give competitors an undue advantage The second case includes proprietary positions that are accepted because of their risks and their expected return Here risk positions that are central to the bank's business purpose are absorbed because they are the raison of the firm Credit risk inherent in the lending activity is a clear case in point as is market risk for the trading desk of banks active in certain markets In all such circumstances risk is absorbed and needs to be monitored and managed efficiently by the institution Only then will the firm systematically achieve its financial performance goal
4 How are these risks managed
In light of the above what are the necessary procedures that must be in place in order to carry out adequate risk management In essence what techniques are employed to both limit and manage the different types of risk and how are they implemented in each area of risk control It is to these questions that we now turn After reviewing the procedures employed by leading firms an approach emerges from an examination of largescale risk management systems The management of the banking firm relies on a sequence of steps to implement a risk management system These can be seen as containing the following four parts
1 standards and reports
2 position limits or rules
3 investment guidelines or strategies and
4 incentive contracts and compensation
In general these tools are established to measure exposure define procedures to manage these exposures limit individual positions to acceptable levels and encourage decision makers to manage risk in a manner that is consistent with the firm's goals and objectives To see how each of these four parts of basic riskmanagement techniques achieves these ends we elaborate on each part of the process below In section 4 we illustrate how these techniques are applied to manage each of the specific risks facing the banking community
1Standards and reports
The first of these riskmanagement techniques involves two different conceptual activities ie standard setting and financial reporting They are listed together because they are the sine qua non of any risk system Underwriting standards risk categorizations and standards of review are all traditional tools of risk management and control Consistent evaluation and rating of exposures of various types are essential to an understanding of the risks in the portfolio and the extent to which these risks must be mitigated or absorbed
The standardization of financial reporting is the next ingredient Obviously outside audits regulatory reports and rating agency evaluations are essential for investors to gauge asset quality and firmlevel risk These reports have long been standardized for better or worse However the need here goes beyond public reports and audited statements to the need for management information on asset quality and risk posture Such internal reports need similar standardization and much more frequent reporting intervals with daily or weekly reports substituting for the quarterly GAAP periodicity
2Position limits and rules
A second technique for internal control of active management is the use of position limits andor minimum standards for participation In terms of the latter the domain of risk taking is restricted to only those assets or counterparties that pass some prespecified quality standard Then even for those investments that are eligible limits are imposed to cover exposures to counterparties credits and overall position concentrations relative to various types of risks While such limits are costly to establish and administer their imposition restricts the risk that can be assumed by anyone individual and therefore by the organization as a whole In general each person who can commit capital will have a welldefined limit This applies to traders lendersand portfolio managers Summary reports show limits as well as current exposure by business unit on a periodic basis In large organizations with thousands of positions maintained accurate and timely reporting is difficult but even more essential
3Investment guidelines and strategies
Investment guidelines and recommended positions for the immediate future are the third technique commonly in use Here strategies are outlined in terms of concentrations and commitments to particular aras of the market the extent of desired assetliability mismatching or exposure and the need to hedge against systematic risk of a particular type
4Incentives schemes
To the extent that management can enter incentive compatible contracts with line managers and make compensation related to the risks borne by these individuals then the need for elaborate and costly controls is lessened However such incentive contracts require accurate position valuation and proper internal control systems
附录2：
商业银行风险理程分析
摘
年里通现场参观金融服务公司进行审查评估金融风险理系统商业银行分析涵盖量北美超区性准货币中心机构美国外公司获信息包括理念财务风险理做法文概述次调查结果报告该行业风险理技术状况报告行业执业标准评价方式什特定选择方式进行外文提出适批评讨问题包括业界认难处理现行风险分析方法中缺点现行风险理程序中缺失元素
1介绍
十年中银行业历场惨痛损失信贷风险承担情况变差利率变动金融衍生工具理发生资产负债表风险表现良公司突然宣布巨额亏损针种情况商业银行开始项风险理控制系统升级
某种程度说次活动出行业财务风险弱点认识斯隆基金会支持沃顿商学院金融机构中心直金融部门中参金融风险理分析通年时间实考察审查方法贯穿评估风险理制度风险评估定程中银行部门系统进行评估包括北美超区性土货币中心商业银行量型投资银行公司结果提交银行公司继续参更广泛反应验证
文目概述次调查结果报告行业风险理技术情况包括问题提出问题回答受访者遗留问题解决报告没列举行业普遍采方法没提供方法评价相反报告执业标准评价方法什选择特定方式进行某领域甚连佳方法适批评适情况出文章提出前未答复回答较复杂银行采现行做法尚严密问题清单里讨包括业界认较难处理现行风险分析方法中缺点现行风险理程序中缺失元素
2应该考虑什类型风险
商业银行正承担着业务风险提供金融服务程中承担种金融风险十年中商业银行金融部门位认识已提高段时间商业银行金融部门扮演什样角色已众周知学术文献者金融新闻体现文中参数里会审查会列举想说市场参者寻求金融机构服务机构力客户提供市场知识交易效率资金力履行职责时般充交易体资产负债表方便交易承受相关风险
肯定银行业金融机构进行活动会直接受资产负债表影响服务包括代理咨询活动
（1）信托投资理
（2）通努力促进私公存款合
（3）通第20条标准承保该控股公司附属公司
（4）包装证券化分发消费房产领域贷款债务提供服务
项目传统财务报表外者赖丁飞普遍接受会计程序真正济资产负债表然银行业风险绝数企业资产负债表里风险理风险理控制必程序需集中探讨里必须风险理程序审查集中起
3种风险吸收
银行业务涉身资产负债表基商业贷款款中风险完全银行身承担许情况机构通适商业行交易消减轻金融风险关联情况卜通定价产品设计结合风险转移缔约方
银行业认识机构需事营方式施加必风险时银行需承担风险需风险效转移参者相反企业说仅原水理风险理市场身业投资组合产生风险效总应该接受部分唯银行服务阵列风险方(奥德菲尔德圣马罗1997)认理角度金融机构面风险细分三类型
1通简单商业惯例消避免风险
2转移参者风险
3公司控水积极理风险
规避风险第种做法标准银行活动特宗旨出发(尤该机构营宗旨)采取行动减少消风险风险规避行里少包括三种类型第步通合程序标准化防止低效率正确财务决策第二步通元化投资组合分散款利益减少投资损失带影响第三步通执行机构理层激励兼容合求员工承担责种情况目标摆脱风险特金融服务公司没必承担者吸收佳数量特定类型风险
然存通风险转移技术消降低风险然银行承担市场存公司部分风险利率风险转掉期衍生工具利率产品款条件针影响持续时间变化进行修改
银行服务客户群程中购买出售金融债权分散集中风险某种程度说资产财务风险公司市场理解基础产生资产公允价值出售非该机构已理风险较优势者愿意接受嵌入式风险没理银行吸收风险转化风险
然两类固风险资产活动应银行吸收种情况企业资源理银行风险水种良方式中第容包括金融资产金融活动种嵌入性质风险传达第三方较复杂困难里意思银行持复杂专资产数量降时种风险转移起较困难然通二级市场转移风险种情况传递风险会种潜风险更加困难昂贵外泄露客户信息种正竞争手段带处第二容包括营接受头寸风险预期回报里吸收风险头寸银行极重营贷款活动固信贷风险明显例子银行市场交易时必然活跃风险情况风险吸收需进行监测应建立效理机制时公司系统实现财务业绩目标
4风险理
鉴述情况必程序必须履行便进行适风险理呢质讲采什技术限制理风险类型种风险控制区实施问题现转公司领导审查采程序种方法出现规模风险理系统检查该公司理赖银行步骤落实风险理体系序列作包含四部分
1标准报告
2持仓限额规
3投资指南策略
4激励合赔偿
般说工具建立权衡揭示定义程序理风险限制职位接受水鼓励决策者理采取该公司目标相致目标风险方式解四部分基风险理技术分实现目标程部分详细作说明第4节说明技术应银行界具体风险
1标准报告
风险理技术涉两概念第次活动制定标准财务报告列起整风险系统必少条件承销标准风险分类审查标准风险传统理控制工具致评估标准类风险等级投资组合中必少风险协议容风险程度必须减轻吸收
标准化财务报告组成部分显然外部审计监报告评级机构评价投资者衡量资产质量企业层面风险必少容样报告直标准化资产质量风险状况信息需求超越公报告审计报告需求类似样部报告需更加规范化频繁化定期化需日报周报取代国际会计准认季度报告
2持仓限额规
第二部控制技术利持仓限额低参标准者言风险采取域限制通预先确定质量标准资产证券然符合条件投资会限制性规定规定覆盖证券信贷风险相集中类风险然种限制设立理起较昂贵实行限制风险单独承担样风险统筹起般说承担资金明确限制种做法适商放贷投资组合理汇总报表通业务单位指出限制条件前漏洞拥数千名员工型公司时提供准确报告相困难非常重
3投资指南策略
投资指南建议定位第三未普遍技术里策略领域承诺市场部分做出详细说明包括资产负债匹配程度暴露程度特定类型系统性风险
4激励合赔偿
某种程度理引入线理员激励机制相容合然减少复杂昂贵风险补偿需求然种激励合需精确定位适部控制评价制度
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Commercial Bank Risk Management
An Analysis of the Process
山东建筑学毕业文外文文献翻译
附录1：
Commercial Bank Risk Management An Analysis of the Process
Abstract
Throughout the past year onsite visits to financial service firms were conducted to review and evaluate their financial risk management systems The commercial banking analysis covered a number of North American superregionals and quasi±moneycenter institutions as well as several firms outside the US The information obtained covered both the philosophy and practice of financial risk management This article outlines the results of this investigation It reports the state of risk management techniques in the industry It reports the standard of practice and evaluates how and why it is conducted in the particular way chosen In addition critiques are offered where appropriate We discuss the problems which the industry finds most difficult to address shortcomings of the current methodology used to analyze risk and the elements that are missing in the current procedures of risk management
1 Introduction
The past decade has seen dramatic losses in the banking industry Firms that had been performing well suddenly announced large losses due to credit exposures that turned sour interest rate positions taken or derivative exposures that may or may not have been assumed to hedge balance sheet risk In response to this commercial banks have almost universally embarked upon an upgrading of their risk management and control systems
Coincidental to this activity and in part because of our recognition of the industry's vulnerability to financial risk the Wharton Financial Institutions Center with the support of the Sloan Foundation has been involved in an analysis of financial risk management processes in the financial sector Through the past academic year onsite visits were conducted to review and evaluate the risk management systems and the process of risk evaluation that is in place In the banking sector system evaluation was conducted covering many of North America's superregionals and quasi±moneycenter commercial banks as well as a number of major investment banking firms These results were then presented to a much wider array of banking firms for reaction and verification The purpose of the present article is to outline the findings of this investigation It reports the state of risk management techniques in the industry—questions asked questions answered and questions left unaddressed by respondents This report can not recite a litany of the approaches used within the industry nor can it offer an evaluation of each and every approach Rather it reports the standard of practice and evaluates how and why it is conducted in the particular way chosen But even the best practice employed within the industry is not good enough in some areas Accordingly critiques also will be offered where appropriate The article concludes with a list of questions that are currently unanswered or answered imprecisely in the current practice employed by this group of relatively sophisticated banks Here we discuss the problems which the industry finds most difficult to address shortcomings of the current methodology used to analyze risk and the elements that are missing in the current procedures of risk management and risk control
2 What type of risk is being considered
Commercial banks are in the risk business In the process of providing financial services they assume various kinds of financial risks Over the last decade our understanding of the place of commercial banks within the financial sector has improved substantially Over this time much has been written on the role of commercial banks in the financial sector both in the academic literature and in the financial press These arguments will be neither reviewed nor enumerated here Suffice it to say that market participants seek the services of these financial institutions because of their ability to provide market knowledge transaction efficiency and funding capability In performing these roles they generally act as a principal in the transaction As such they use their own balance sheet to facilitate the transaction and to absorb the risks associated with it
To be sure there are activities performed by banking firms which do not have direct balance sheet implications These services include agency and advisory activities such as
(1) trust and investment management
(2) private and public placements through ``bestefforts'' or facilitating contracts
(3) standard underwriting through Section 20 Subsidiaries of the holding company
(4) the packaging securitizing distributing and servicing of loans in the areas of consumer and real estate debt primarily
These items are absent from the traditional financial statement because the latter rely on generally accepted accounting procedures rather than a true economic balance sheet Nonethelessthe overwhelming majority of the risks facing the banking firm are onbalancesheet businesses It is in this area that the discussion of risk management and of the necessary procedures for risk management and control has centered Accordingly it is here that our review of risk management procedures will concentrate
3 What kinds of risks are being absorbed
The risks contained in the bank's principal activities ie those involving its own balance sheet and its basic business of lending and borrowing are not all borne by the bank itself In many instances the institution will eliminate or mitigate the financial risk associated with a transaction by proper business practices in others it will shift the risk to other parties through a combination of pricing and product design
The banking industry recognizes that an institution need not engage in business in amanner that unnecessarily imposes risk upon it nor should it absorb risk that can be efficiently transferred to other participants Rather it should only manage risks at the firm level that are more efficiently managed there than by the market itself or by their owners in their own portfolios In short it should accept only those risks that are uniquely a part of the bank's array of services Elsewhere (Oldfield and Santomero 1997) it has been argued that risks facing all financial institutions can be segmented into three separable types from a management perspective These are
1 risks that can be eliminated or avoided by simple business practices
2 risks that can be transferred to other participants
3 risks that must be actively managed at the firm level
In the first of these cases the practice of risk avoidance involves actions to reduce the chances of idiosyncratic losses from standard banking activity by eliminating risks that are superˉuous to the institution's business purpose Common riskavoidance practices here include at least three types of actions The standardization of process contracts and procedures to prevent inefficient or incorrect financial decisions is the first of these The construction of portfolios that benefit from diversification across borrowers and that reduce the effects of any one loss experience is another The implementation of incentivecompatible contracts with the institution's management to require that employees be held accountable is the third In each case the goal is to rid the firm of risks that are not essential to the financial service provided or to absorb only an optimal quantity of a particular kind of risk
There are also some risks that can be eliminated or at least substantially reduced through the technique of risk transfer Markets exist for many of the risks borne by the banking firm Interest rate risk can be transferred by interest rate products such as swaps or other derivatives Borrowing terms can be altered to effect a change in their duration
Finally the bank can buy or sell financial claims to diversify or concentrate the risks that result from servicing its client base To the extent that the financial risks of the assets created by the firm are understood by the market these assets can be sold at their fair value Unless the institution has a comparative advantage in managing the attendant risk andor a desire for the embedded risk which they contain there is no reason for the bank to absorb such risks rather than transfer them
However there are two classes of assets or activities where the risk inherent in the activity must and should be absorbed at the bank level In these cases good reasons exist for using firm resources to manage bank level risk The first of these includes financial assets or activities where the nature of the embedded risk may be complex and difficult to communicate to third parties This is the case when the bank holds complex and proprietary assets that have thin if not nonexistent secondary markets Communication in such cases may be more difficult or expensive than hedging the underlying risk Moreover revealing information about the customer may give competitors an undue advantage The second case includes proprietary positions that are accepted because of their risks and their expected return Here risk positions that are central to the bank's business purpose are absorbed because they are the raison of the firm Credit risk inherent in the lending activity is a clear case in point as is market risk for the trading desk of banks active in certain markets In all such circumstances risk is absorbed and needs to be monitored and managed efficiently by the institution Only then will the firm systematically achieve its financial performance goal
4 How are these risks managed
In light of the above what are the necessary procedures that must be in place in order to carry out adequate risk management In essence what techniques are employed to both limit and manage the different types of risk and how are they implemented in each area of risk control It is to these questions that we now turn After reviewing the procedures employed by leading firms an approach emerges from an examination of largescale risk management systems The management of the banking firm relies on a sequence of steps to implement a risk management system These can be seen as containing the following four parts
1 standards and reports
2 position limits or rules
3 investment guidelines or strategies and
4 incentive contracts and compensation
In general these tools are established to measure exposure define procedures to manage these exposures limit individual positions to acceptable levels and encourage decision makers to manage risk in a manner that is consistent with the firm's goals and objectives To see how each of these four parts of basic riskmanagement techniques achieves these ends we elaborate on each part of the process below In section 4 we illustrate how these techniques are applied to manage each of the specific risks facing the banking community
1Standards and reports
The first of these riskmanagement techniques involves two different conceptual activities ie standard setting and financial reporting They are listed together because they are the sine qua non of any risk system Underwriting standards risk categorizations and standards of review are all traditional tools of risk management and control Consistent evaluation and rating of exposures of various types are essential to an understanding of the risks in the portfolio and the extent to which these risks must be mitigated or absorbed
The standardization of financial reporting is the next ingredient Obviously outside audits regulatory reports and rating agency evaluations are essential for investors to gauge asset quality and firmlevel risk These reports have long been standardized for better or worse However the need here goes beyond public reports and audited statements to the need for management information on asset quality and risk posture Such internal reports need similar standardization and much more frequent reporting intervals with daily or weekly reports substituting for the quarterly GAAP periodicity
2Position limits and rules
A second technique for internal control of active management is the use of position limits andor minimum standards for participation In terms of the latter the domain of risk taking is restricted to only those assets or counterparties that pass some prespecified quality standard Then even for those investments that are eligible limits are imposed to cover exposures to counterparties credits and overall position concentrations relative to various types of risks While such limits are costly to establish and administer their imposition restricts the risk that can be assumed by anyone individual and therefore by the organization as a whole In general each person who can commit capital will have a welldefined limit This applies to traders lendersand portfolio managers Summary reports show limits as well as current exposure by business unit on a periodic basis In large organizations with thousands of positions maintained accurate and timely reporting is difficult but even more essential
3Investment guidelines and strategies
Investment guidelines and recommended positions for the immediate future are the third technique commonly in use Here strategies are outlined in terms of concentrations and commitments to particular aras of the market the extent of desired assetliability mismatching or exposure and the need to hedge against systematic risk of a particular type
4Incentives schemes
To the extent that management can enter incentive compatible contracts with line managers and make compensation related to the risks borne by these individuals then the need for elaborate and costly controls is lessened However such incentive contracts require accurate position valuation and proper internal control systems
附录2：
商业银行风险理程分析
摘
年里通现场参观金融服务公司进行审查评估金融风险理系统商业银行分析涵盖量北美超区性准货币中心机构美国外公司获信息包括理念财务风险理做法文概述次调查结果报告该行业风险理技术状况报告行业执业标准评价方式什特定选择方式进行外文提出适批评讨问题包括业界认难处理现行风险分析方法中缺点现行风险理程序中缺失元素
1介绍
十年中银行业历场惨痛损失信贷风险承担情况变差利率变动金融衍生工具理发生资产负债表风险表现良公司突然宣布巨额亏损针种情况商业银行开始项风险理控制系统升级
某种程度说次活动出行业财务风险弱点认识斯隆基金会支持沃顿商学院金融机构中心直金融部门中参金融风险理分析通年时间实考察审查方法贯穿评估风险理制度风险评估定程中银行部门系统进行评估包括北美超区性土货币中心商业银行量型投资银行公司结果提交银行公司继续参更广泛反应验证
文目概述次调查结果报告行业风险理技术情况包括问题提出问题回答受访者遗留问题解决报告没列举行业普遍采方法没提供方法评价相反报告执业标准评价方法什选择特定方式进行某领域甚连佳方法适批评适情况出文章提出前未答复回答较复杂银行采现行做法尚严密问题清单里讨包括业界认较难处理现行风险分析方法中缺点现行风险理程序中缺失元素
2应该考虑什类型风险
商业银行正承担着业务风险提供金融服务程中承担种金融风险十年中商业银行金融部门位认识已提高段时间商业银行金融部门扮演什样角色已众周知学术文献者金融新闻体现文中参数里会审查会列举想说市场参者寻求金融机构服务机构力客户提供市场知识交易效率资金力履行职责时般充交易体资产负债表方便交易承受相关风险
肯定银行业金融机构进行活动会直接受资产负债表影响服务包括代理咨询活动
（1）信托投资理
（2）通努力促进私公存款合
（3）通第20条标准承保该控股公司附属公司
（4）包装证券化分发消费房产领域贷款债务提供服务
项目传统财务报表外者赖丁飞普遍接受会计程序真正济资产负债表然银行业风险绝数企业资产负债表里风险理风险理控制必程序需集中探讨里必须风险理程序审查集中起
3种风险吸收
银行业务涉身资产负债表基商业贷款款中风险完全银行身承担许情况机构通适商业行交易消减轻金融风险关联情况卜通定价产品设计结合风险转移缔约方
银行业认识机构需事营方式施加必风险时银行需承担风险需风险效转移参者相反企业说仅原水理风险理市场身业投资组合产生风险效总应该接受部分唯银行服务阵列风险方(奥德菲尔德圣马罗1997)认理角度金融机构面风险细分三类型
1通简单商业惯例消避免风险
2转移参者风险
3公司控水积极理风险
规避风险第种做法标准银行活动特宗旨出发(尤该机构营宗旨)采取行动减少消风险风险规避行里少包括三种类型第步通合程序标准化防止低效率正确财务决策第二步通元化投资组合分散款利益减少投资损失带影响第三步通执行机构理层激励兼容合求员工承担责种情况目标摆脱风险特金融服务公司没必承担者吸收佳数量特定类型风险
然存通风险转移技术消降低风险然银行承担市场存公司部分风险利率风险转掉期衍生工具利率产品款条件针影响持续时间变化进行修改
银行服务客户群程中购买出售金融债权分散集中风险某种程度说资产财务风险公司市场理解基础产生资产公允价值出售非该机构已理风险较优势者愿意接受嵌入式风险没理银行吸收风险转化风险
然两类固风险资产活动应银行吸收种情况企业资源理银行风险水种良方式中第容包括金融资产金融活动种嵌入性质风险传达第三方较复杂困难里意思银行持复杂专资产数量降时种风险转移起较困难然通二级市场转移风险种情况传递风险会种潜风险更加困难昂贵外泄露客户信息种正竞争手段带处第二容包括营接受头寸风险预期回报里吸收风险头寸银行极重营贷款活动固信贷风险明显例子银行市场交易时必然活跃风险情况风险吸收需进行监测应建立效理机制时公司系统实现财务业绩目标
4风险理
鉴述情况必程序必须履行便进行适风险理呢质讲采什技术限制理风险类型种风险控制区实施问题现转公司领导审查采程序种方法出现规模风险理系统检查该公司理赖银行步骤落实风险理体系序列作包含四部分
1标准报告
2持仓限额规
3投资指南策略
4激励合赔偿
般说工具建立权衡揭示定义程序理风险限制职位接受水鼓励决策者理采取该公司目标相致目标风险方式解四部分基风险理技术分实现目标程部分详细作说明第4节说明技术应银行界具体风险
1标准报告
风险理技术涉两概念第次活动制定标准财务报告列起整风险系统必少条件承销标准风险分类审查标准风险传统理控制工具致评估标准类风险等级投资组合中必少风险协议容风险程度必须减轻吸收
标准化财务报告组成部分显然外部审计监报告评级机构评价投资者衡量资产质量企业层面风险必少容样报告直标准化资产质量风险状况信息需求超越公报告审计报告需求类似样部报告需更加规范化频繁化定期化需日报周报取代国际会计准认季度报告
2持仓限额规
第二部控制技术利持仓限额低参标准者言风险采取域限制通预先确定质量标准资产证券然符合条件投资会限制性规定规定覆盖证券信贷风险相集中类风险然种限制设立理起较昂贵实行限制风险单独承担样风险统筹起般说承担资金明确限制种做法适商放贷投资组合理汇总报表通业务单位指出限制条件前漏洞拥数千名员工型公司时提供准确报告相困难非常重
3投资指南策略
投资指南建议定位第三未普遍技术里策略领域承诺市场部分做出详细说明包括资产负债匹配程度暴露程度特定类型系统性风险
4激励合赔偿
某种程度理引入线理员激励机制相容合然减少复杂昂贵风险补偿需求然种激励合需精确定位适部控制评价制度
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