发展我国个人资产业务的若干思考

个人资产业务是商业银行资产业务的重要组成部分.发展个人资产业务是我国商业银行适应市场经济发展、完善"储蓄--投资"转化机制、满足客户不同需求与综合理财、迎接外资银行挑战的需要,也是我国商业银行发展业务、增加利润和拓展金融市场的需要.     

我国商业银行个人理财业务新探析

一、我国商业银行发展个人理财业务的现状 我国商业银行个人理财业务虽然起步晚,但是发展速度快.尤其是进入21世纪,我国商业银行个人理财业务出现爆发式的增长.麦肯锡公司调查显示,2000年到2006年,中国个人理财市场每年的业务增长率高达到18%.目前.各家商业银行都把个人理财业务作为发展重心,并主要通过加强个人理财产品的品牌建设,设立面向高端客户的私人银行,来争夺理财市场.     

我国商业银行个人理财业务的风险管理

一、商业银行个人理财业务的风险表现 商业银行个人理财业务是商业银行将客户关系管理、资金管理和投资组合管理等融合在一起,向客户提供的综合化、个性化服务的一类金融产品.早在上个世纪90年代末期,我国商业银行开始尝试向客户提供专业化投资顾问和个人外汇理财服务.近年来,随着金融开放加快、商业银行竞争加剧、国民经济增长和个人财富的增加,个人理财业务得到迅速发展.由于受金融法律制度、金融管理体制和金融市场发育程度等方面的制约,我国商业银行个人理财业务在快速发展和演进的同时,缺乏科学的完善的风险管理措施,因而潜在的金融风险不容忽视.     

我国商业银行个人理财业务发展中的问题及对策研究

个人理财业务是目前各家商业银行追求利润的一项主要业务,我国商业银行的个人理财业务发展由于起步晚,受限制因素多,还处于推广概念阶段。很多客户还不能够完全接受商业银行所推出的个人理财业务。本文主要从我国商业银行个人理财业务发展缓慢的原因出发,分析我国商业银行发展个人理财业务的中存在的问题,最终对我国商业银行发展个人理财业务提出里相应地对策。     

刍议商业银行个人金融股务

个人金融服务是商业银行在经营中按客户划分市场，对居民个人或家庭提供的金融产品和金融服务的总称，也可以说是商业银行开办的通过对个人金融资产的重组与再利用而使其得到保值、增值的新型业务。根据服务对象的差异可将其进一步细分为两类：一类是对一般客户提供的普通金融服务；另一类是对称客户提供的私人银行服务，服务对象具有一定资金实力。个人金融服务在国外商业银行发展非常迅速。个人金融服务在国外商业银行发展非常迅速，在我国，随着居民收入水平的提高、居民对商业银行业务需求的变化以及商业银行功能与业务的创新，个人金融业务和服务具有广阔的发展前景。     

我国商业银行个人理财业务发展探析

个人理财业务是由专业理财人员通过明确个人客户的理财目标,分析客户的生活、财务现状,帮助客户制定出可以实现理财目标的方案或建议的一种综合金融服务。本文对我国商业银行个人理财业务发展现状及存在的问题进行了剖析,并提出了通过制定分步骤、分阶段的发展规划、加大产品创新、加快个人理财服务质量的改进、培养专业化人才等手段大力发展我国个人理财业务水平的对策。     

我国商业银行个人业务发展中存在的问题及对策

发展个人理财业务是扩大客户群体、满足客户多样化需求的要求,也是分散商业银行经营风险、提高商业银行竞争力的要求。我国商业银行个人业务的发展因人才储备、产品设计和服务模式等方面的不足而受到限制。为进一步发展商业银行个人理财业务,我国金融业必须推进混业经营,提供差异化个人理财服务,加快培养高素质理财队伍,开发多样化的理财产品,加强技术更新。     

工商银行发展个人金融业务的策略研究

个人金融业务的创新和发展,是推动我国商业银行发展的战略性举措之一,它既可以推动商业银行经济功能的转变,又有助于银行资产、业务、收益及客户结构的优化.发展定位不明确,客户管理落后,业务创新迟缓,风险管理脆弱,是直接影响我行个人金融业务发展与竞争实力提高的主要因素.我行个人金融业务的发展必须确立明确的发展思路,在整合机构、细分市场、差别服务、市场营销与技术保障等关键环节上取得突破,矫正扭曲的产品价格机制,确实提高个人金融业务的风险管理水平,整合服务产品与业务机构,不断拓展商业银行的服务领域,全面推动个人金融业务的突破性发展.     

透视西方商业银行个人金融业务发展

公司客户业务和个人客户业务是西方商业银行两大金融服务业务，其中个人客户业务已成为西方商业银行的主要金融业务。本对西方商业银行个人金融业务的组织框架、业务范围、营销手段以及风险防范等问题均做了系统的论述。     

我国商业银行个人理财业务市场营销策略分析

近几年,我国商业银行的个人理财业务取得了突破性进展,已经开始注重品牌营销,但总体而言仍处于发展初期,存在市场细分、市场定位和营销宣传不到位等方面的问题。一、个人理财业务市场营销方面存在的主要问题1.市场细分不充分,目标市场定位模糊市场细分是企业选择和确定目标市场的基础和前提。国外商业银行在拓展个人理财业务的过程中,高度重视客户市场的细分,可以针对不同层次的客户提供差异化的个性产品和服务。按照银行界通行的客户贡献"二八"法则,特别为优质客户提供差别化的服务,能够塑     

Trade credit and credit rationing

Asymmetric information between banks and firms can precludefinancing of valuable projects. Trade credit can alleviate thisproblem by incorporating the lending relation the private informationheld by suppliers about their customers. Incentive compatibilityconditions prevent collusion between two of the agents (e.g.,the buyer and the seller) against the third (e.g., the bank).Consistent with the empirical findings of Petersen and Rajan(1995), firms without relationships with banks resort more totrade credit, and sellers with greater ability to generate cashflows provide more trade credit. Finally small firms react tomonetary contractions by using trade credit, consistent withthe empirical results of Nilsen (1994).     

Do credit commitments compromise credit quality?

This paper focuses on banks’ risk-taking arising from potentially excessive growth of loans and off-balance sheet credit commitments. Credit quality is investigated both in macro and micro context, using a panel of 28 European countries over 2004–2014 and a panel of 478 European banks over 2004–2013. The dynamic panel data estimation results confirm that an increase in the ratio of credit commitments to total assets is a two year ahead warning indicator of growth in the ratio of non-performing loans and loan loss reserves. Simultaneous equation estimation exemplifies that the adverse effect of credit commitments on credit quality stems from the credit boom-bust context. As the economic impact of credit commitments to credit quality is significant compared to that of traditional credit quality determinants (real GDP growth and real growth in loans), the consideration of a credit commitments measure may improve timely recognition of credit risk accumulation episodes.     

On the nature of credit demand and credit rationing in competitive credit markets

Conventional analyses of the credit rationing problem seek to explain that problem within the context of classic demand analysis. In this paper we demonstrate that it is generally inappropriate to apply the notion of classic demand to credit markets, consequently, conventional notions of credit rationing must be rejected. In providing a new definition of credit rationing we also establish the previously rejected characterized by credit rationing.     

Counter-cyclical substitution between trade credit and bank credit

This paper explores the substitution relationship between trade credit and bank credit, and its counter-cyclic dynamic pattern through economic cycles. We propose a new theoretical model, using a mechanism design method, which predicts the substitution between the two credits and its counter-cyclic behavior, subject to the condition of technological efficiency not less than one. This model also helps explain the somewhat contradictory evidence in the literature, on the relationship between the two credits. We present empirical evidence on the substitution effect and its counter-cyclic behavior, by using a balanced panel data set of 284 listed Chinese companies for the period 1998-2006. We further find that the substitution behaves counter-cyclically with respect to the coincident macroeconomic indicator, namely, GDP. Our empirical analysis also has some new features such as treating endogeneity carefully and incorporating the lag-effect of trade credit coherently.     

Bilateral credit valuation adjustment for large credit derivatives portfolios

We obtain an explicit formula for the bilateral counterparty valuation adjustment of a credit default swaps portfolio referencing an asymptotically large number of entities. We perform the analysis under a doubly stochastic intensity framework, allowing default correlation through a common jump process. The key insight behind our approach is an explicit characterization of the portfolio exposure as the weak limit of measure-valued processes associated with survival indicators of portfolio names. We validate our theoretical predictions by means of a numerical analysis, showing that counterparty adjustments are highly sensitive to portfolio credit risk volatility as well as to the intensity of the common jump process.     

Counterparty credit risk and the credit default swap market

Counterparty credit risk has become one of the highest-profile risks facing participants in the financial markets. Despite this, relatively little is known about how counterparty credit risk is actually priced. We examine this issue using an extensive proprietary data set of contemporaneous CDS transaction prices and quotes by 14 different CDS dealers selling credit protection on the same underlying firm. This unique cross-sectional data set allows us to identify directly how dealers' credit risk affects the prices of these controversial credit derivatives. We find that counterparty credit risk is priced in the CDS market. The magnitude of the effect, however, is vanishingly small and is consistent with a market structure in which participants require collateralization of swap liabilities by counterparties.     

Exploring the components of credit risk in credit default swaps

In this paper, we test the influence of various fundamental variables on the pricing of credit default swaps. The theoretical determinants that are important for pricing credit default swaps include the risk-free rate, industry sector, credit rating, and liquidity factors. We suggest a linear regression model containing these different variables, especially focusing on liquidity factors. Unlike bond spreads which have been shown to be inversely related to liquidity (i.e., the greater the liquidity, the lower the spread), there is no a priori reason that the credit default swap spread should exhibit the same relationship. This is due to the economic characteristics of a credit default swap compared to a bond. Our empirical result shows that all the fundamental variables investigated have a significant effect on the credit default swap spread. Moreover, our findings suggest that credit default swaps that trade with greater liquidity have a wider credit default swap spread.     

Politicizing consumer credit

Powerful politicians can interfere with the enforcement of regulations. As such, expected political interference can affect constituents’ behavior. Using rotations of Senate committee chairs to identify variation in political power and expected regulatory relief, we study powerful politicians’ effect on consumer lending to communities protected by fair-lending regulations. We find a 7.5% reduction in credit access to minority neighborhoods in states with new committee chairs. Larger reductions occur in Community Reinvestment Act-eligible neighborhoods and when Senators serve on committees that oversee the enforcement of fair-lending laws. Banks headquartered in powerful Senators’ states are responsible for the reduction in credit access.     

Sovereign credit spreads

The paper develops a structural credit risk model to study sovereign credit risk and the dynamics of sovereign credit spreads. The model features endogenous default and recovery rates that both depend on the interaction between domestic output fluctuations and global macroeconomic conditions. We show that sovereigns choose to default at higher levels of economic output once global macroeconomic conditions are bad. This yields to default rates and credit spreads that are substantially higher compared to normal times. We derive closed-form expressions for sovereign debt values and default times and focus on the dynamics of sovereign credit spreads. As opposed to standard theories of sovereign debt, this paper’s structural model generates much richer default patterns and non-linearities through regime-shifts in the global macroeconomic environment. Moreover, changes in the global environment reveal the interconnectedness of the financial system.