Credit Cards in China

Credit cards are also called electronic money and originated in the United States.They are the most advanced tool for account settlement in the world. Credit cards help make all kinds of consumption easy and quick with no need to use cash. You can draw money at any time, and even an overdraft is permitted for your convenience. The corporations and banks issuing cards can make profits from their management and loan interest. So credit cards are wellreceived by banks, credit card companies,     

Potentials in Asian Export Credit Cooperation

"Mekong River Regional Development Project advocated by Asian Development Bank (ADB) has been implemented. Trans-Asia Railway and Trans-Asia Highway are being discussed. It is a good opportunity for Asian Export Credit Agencies (ECAs) to cooperate and financing these large crossboarder projects."On May 11, at the 10th Annual Meeting of Asian Export Credit Agencies,     

Who Pays for Credit Cards?

The authors model side payments in a competitive credit‐card market. If competitive retailers absorb the cost of accepting credit cards by charging a higher goods price to everyone, then someone must subsidize convenience users of credit cards to prevent them from defecting to merchants who do not accept cards. The side payment could be financed by card users who roll over balances and pay interest. It is rational for them to do so if their subjective discount rates are high enough. Charging different prices to different customers based on the underlying cost of the payment instrument would be more efficient for retailers. However, banks may offer incentives to attract convenience users because some of them may become interest‐paying users (“revolvers”) in the future.     

Fueling the Credit Crisis: Who Uses Consumer Credit and What Drives Debt Burden?

Excessive household debt contributed to the worst recession in decades. Insights about borrowing and spending behavior can inform economic recovery forecasts, policy decisions, and financial education. This study identifies life cycle and credit attitude as key determinants of who uses debt. Younger households are more likely to borrow for consumption, as are those who believe that it is all right to borrow to purchase luxury goods or cover living expenses. Furthermore, households that condone borrowing for these purposes have a higher consumer debt burden. Debt capacity (or creditworthiness) and financial discipline are also significant factors in determining household debt use.     

基于Credit Metrics模型的城投债信用风险研究

2015年以来,中国债券市场风起云涌,各类违约事件频发,作为债券市场的重要组成部分,城投债也难以独善其身。在此背景下,文章运用Credit Metrics模型测算了一年后城投债样本数据违约时可能发生的最大损失,得到了95%置信水平下的VaR。以此对城投债进行风险分析,旨在保护投资者的利益及为规范城投债市场发展提出合理的意见。     

Foreign Banks Eye on Chinese Rural Credit Cooperatives

After Japanese Mitsui Sumitomo Bank Ltd. got permission to enter Hangzhou, Zhejiang local banks have made great breakthrough in introducing foreign technology. It is reported that Hangzhou Urban (Rural) Credit Cooperative will cooperate with the world-famous bank     

Should Access to Credit be a Right?

Discussion on financial ethics increasingly includes the problem of exclusion of the poorer segments of society from the financial system and access to credit. This paper explores the ethical dimensions surrounding the concept of a human right to credit. If access to credit is directly instrumental to economic development, poverty reduction and the improved welfare of all citizens, then one can proclaim, as Nobel Prize Laureate M. Yunus has done, that it is a moral necessity to establish credit as a right. Arguments both supporting and opposing the concept of a right to credit are presented. While there may be general agreement that access to financial services may provide a pathway out of poverty, granting a universal right could induce perverse effects such as overindebtedness. Bearing in mind the ultimate goal of proponents of this right as well as the potential harmful consequences, this paper offers a new perspective on the question of access to credit based on a goal-right system.      

基于Credit Metrics模型的CDS定价研究

信用违约互换（Credit Default Swaps,CDS）作为当今国际上最流行的的信用衍生工具,被广泛应用于商业银行的信用风险管理中。Credit Metrics模型被广泛运用于度量信用风险的大小,在应用Credit Metrics模型计算商业银行贷款的VaR基础上探讨CDS的定价问题。以单笔贷款为例来说明该模型探讨CDS定价实际运用过程,对我国商业银行信用风险管理的提高有一定指导作用。     

基于Credit Metrics模型的商业银行信贷风险的度量

信贷风险是商业银行最主要的信用风险,而信贷风险度量是信贷风险管理的核心环节。文章首先分析了国内信贷风险度量背景,进一步全面介绍Credit Metrics模型的理论原理和操作步骤,最后与现行传统模型与其进行对比,提出要发展信用评级体系,加快利率市场化,完善信贷风险管理制度,排除Credit Metrics模型在我国运行的阻碍。     

How Many People are Using Credit Cards in China

CreditCardscomeintoChinesecivilians'daiIylivesinaquickstep.TheSocialSurveyInstitutionofChina(SSIC)madeaninvestigationinBeijing,Shanghai,Nanjing,Wuhan,ChangshaandGuangzhourecently,andobtained1678effectivespecimens.Theinvestigationrevealedthat42.3%individualsheldcreditcards,and17%ofthemhadmorethantwodifferentcardsinhand.Amongthecreditcardholders,reasonsofapplyingforcreditcardsvariedfromonecardholdertoanother.9%peopleappliedforcreditcardsforthesakeoffollowingthefashion;15%peoplewantedtocha…     

基于Credit Metrics模型的台湾REITs信用风险评估

不动产投资信托(Real Estate Investment Trust,REIT),是为不动产融资而生的新型金融工具,在我国尚处于试点研究阶段.本文借鉴台湾REITs实施经验,通过采用Credit Metrics模型对骏马一号REITs进行实证分析,在估算出信用等级转移矩阵、远期零息利率等重要参数的基础上,得出骏马一号REITs的信用风险价值,最后得到对我国内陆后续展开REITs业务在风险管理方面的启示.     

Market-Based Screening Mechanism to Be Set up for Credit Institutions

At the "News conference for credit classification of the companies listed in the Dagong 50 index of Shanghai Stock Exchange" held in Beijing, Dai Genyou, Director of Credit     

SMEs:How to Survive in the Credit Crunch?

New faces of old problem On the one hand,with the implementation of a moder- ately tight monetary policy,the rapid growth of credit has been checked.But the difficulty for SMEs to obtain credit from commercial banks has been increasingly large.The     

Credit Suisse Enjoys Chinese Banking——An exclusive Interview with Dr. Urs Buchmann, Managing Director, Country Head China, Credit Suisse

Widening Opportunities for Foreign Market Participants As a result of a direct interaction with its partners and clients in China extending over 5 decades, Credit Suisse already enjoys a very strong position in the country＇s financial markets. The bank moreover feels generally positive about the significant additional opportunities that have become available to foreign banking institutions as a result of China＇s accession to WTO and the substantial reforms implemented in that context, stated Dr. Urs Buchmann, Managing Director, Country Head China, Credit Suisse.     

The Credit Crunch of 2007–08: Lessons Private and Public

The current financial crisis has much in common with past crises. Poor investment strategies with respect to risk as well as poor evaluation have contributed to the current crisis. This paper presents the lessons to be learned by the private and public sectors. Why do crises keep happening? Mismatch of assets—long-term liabilities offset by short-term assets—can be profitable but is risky, and robust strategies must be able to cope with the risk. A number of measures can and should be taken by private financial entities for their own sake as well as that of the entire financial system. With respect to the public sector, one should be wary of expanding the role of regulation. What should be done, however, is to make sure that public policies are pursued through on-budget spending and taxation rather than through off-budget initiatives, such as encouraging government-sponsored enterprises to accumulate subprime debt in order to further public policy objectives. It would also be useful to reduce overall levels of private debt by reducing tax incentives to borrow.     

Credit Metrics模型及其对我国银行风险量化管理的启示

CreditMetrics是世界上第一个评估信用风险的量化度量模型。该模型以资产组合理论、VaR(ValueatRisk)理论等为依据,以信用评级为基础,不仅可以识别贷款、债券等传统投资工具的信用风险,而且可用于互换等现代金融衍生工具的风险识别。研究此模型对于我国银行风险量化管理有很强的现实价值。     

Policy-Based Credit Insurance,Support the Export of China＇s Auto

It has been four years since China Export ＆ Credit Insurance Corporation was founded. Under the concern of relevant departments, the support ot all the enterprises, the scale of credit insurance for export support has expended rapidly. In 2005, China Export ＆ Credit Insurance Corporation supported foreign economy and trade export US$21.2 billion. The function of Export ＆ Credit Insurance in the development of our foreign economy and trade export is showing up.