巴塞尔新资本协议下的项目融资贷款信用评级方法研究

项目融资是巴塞尔新资本协议作为专项贷款监管的资产类别,具有有限追索的特点,具有广阔的市场前景,银行在对该类贷款进行贷款决策、贷款定价和资本配置时都涉及信用评级的问题,但国内银行业缺少对这类贷款进行信用评级的经验和方法.针对这一现状,本文首先分析了银行在项目融资贷款中面临的风险,建立了包括财务风险、项目信用结构风险等五个方面的信用评级指标体系,然后运用层次分析法和模糊综合评价法对项目融资贷款项目中的风险进行客观的评价,建立了和新资本协议监管标准的映射关系,为项目融资类贷款的定价和决策提供了具体、可行的依据.

Credit Rating Approach for Loans of Project Financing under New Basle Accord

Project financing featuring limited recourse is an asset category supervised as a special loan in New Basle Accord and has a broad market prospect. When making decision on loans, loan price and capital allocation, domestic banks inevitably resort to credit rating, but they are rather weak in this respect. In view of this reality, the present paper analyzes in the first place the risks involved in project financing and establishes a credit rating system with five indexes including financial risk and project credit risk. Then it objectively assesses such risks through analytic process of hierarchy and fussy comprehensive evaluation approach and sets up mapping relationship with supervisory standards in the New Accord, thus providing a concrete and viable base for pricing and decision-making of loans under project financing.