商业银行理财产品期限错配风险研究

发布时间：2017-12-27 04:08

本文关键词：商业银行理财产品期限错配风险研究　出处：《首都经济贸易大学》2015年硕士论文　论文类型：学位论文

【摘要】：作为银行业务的一项重要创新,银行理财业务迅速发展,其规模也逐渐扩大。2013年,全国银行业金融机构理财产品余额首次超过10万亿元,其规模也超过了基金、信托、证券和保险行业的资产规模。但在银行理财产品市场蓬勃发展的同时,由于其创新性和对传统业务的冲击,相关风险也有所显现。纵观我国银行理财市场,理财产品大多是超短期和短期产品,由于客户导向的缺失,导致银行理财出现期限错配、信息透明度低及同质化等问题。银行通过理财期限错配来筹措和运营资金,对理财资金“短借长贷”,这种方式在经济稳定增长的情况下,资金来源的便利性会掩盖错配的事实,并且不会暴露风险。但在经济增长乏力时,期限的错配容易造成流动性不足,放大银行的经营风险。银行理财产品的期限错配与其采用的运作模式有很大关系。“资金池—资产池”模式是我国商业银行进行理财产品运作普遍采取的一种方式。我国银行业理财产品以短期为主,但资产池中配置的资产多为中长期,而且绝大多数“资产池”内会配置一定规模的“非标”资产,其配置比例一般在20%至30%。资金池中的长期资产由于期限较长,存在更多的不确定性。资料统计显示,我国理财产品的平均期限约为100天,而投资资产的平均期限则达到了8个月,期限错配现象明显。伴随着短期资金募集和短期产品兑付的双重压力不断累积,银行理财产品的期限错配风险将会不可避免的暴露出来。本文基于理论研究和论述,在回顾银行理财产品的发展历程之后,对我国商业银行理财产品发展现状、主要运作模式、资金投向和期限结构等进行解析,分析商业银行理财产品期限错配的潜在风险,对期限错配的成因进行探讨。本文引入了银行案例来呈现我国银行理财产品的特点以及期限结构状况,并对其期限错配及风险进行分析。通过介绍发达国家银行业先进的理财产品风险管理和监管经验,结合我国理财产品现状对这些国际经验加以借鉴。最后,为防范理财产品期限错配风险,进行业务创新、风险监管方面的探析,促使理财产品业务健康发展。
[Abstract]:As an important innovation of the banking business, the banking financial business has developed rapidly and its scale has gradually expanded. In 2013, the balance of financial products of China's banking financial institutions exceeded 10 trillion yuan for the first time, and its scale also surpassed the assets scale of fund, trust, securities and insurance industry. But at the same time, as the market of banking financial products flourished, because of its innovation and the impact on the traditional business, the related risks also appeared. Throughout China's financial market, most of the financial products are ultra short and short term products. Due to the lack of customer orientation, there are many problems such as mismatch in the financial maturity, low transparency and homogenization. Banks can raise and operate funds through the mismatch of the financial period, and the "short loan and long loan" for the financial capital will not cover the fact that the convenience of the source of funds will cover the fact of mismatch under the condition of steady economic growth. But when the economic growth is weak, the mismatch of the time limit is easy to cause the lack of liquidity and magnify the risk of the bank's operation. The maturity mismatch of the bank's financial products is closely related to its operation mode. The "capital pool - asset pool" model is a common way for our commercial banks to carry out the operation of financial products. China's banking financial products are mainly short-term, but the assets allocated in the asset pool are mostly medium and long term. Most of the assets pool will be allocated to a certain scale of "non-standard" assets, and its allocation proportion is generally 20% to 30%. The long-term assets of the capital pool are more uncertain because of the longer term. Data statistics show that the average time limit for our financial products is about 100 days, while the average time limit for investment assets is 8 months, and the period of mismatch is obvious. With the accumulation of dual pressures of short-term capital raising and short-term product cashing, the risk of mismatch between banks and financial products will inevitably be exposed. This paper research and discuss on the theory, after reviewing the course of development of financial products, analysis of the status quo and development of financial products of commercial banks in our country the main mode of operation, capital investment and term structure, analysis of the potential risks of financial products of commercial banks with the wrong term, discusses the causes of the maturity mismatch. This paper introduces the bank cases to show the characteristics and term structure of banking financial products in China, and analyzes their mismatch and risk. Through the introduction of advanced financial management and supervision experience of advanced financial products in developed countries, we can draw lessons from the current situation of financial products in China. Finally, in order to prevent the mismatch risk of financial product period, we should carry on the analysis of business innovation and risk supervision, so as to promote the healthy development of financial product business.
【学位授予单位】：首都经济贸易大学
【学位级别】：硕士
【学位授予年份】：2015
【分类号】：F832.2

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