中国信托公司杠杆率监管研究

发布时间：2018-03-04 18:01

本文选题：信托　切入点：信托公司　出处：《上海交通大学》2013年硕士论文　论文类型：学位论文

【摘要】：信托行业近年来的快速发展使之越来越受到市场和监管部门的关注，信托在短短几年时间内便一举超越证券和保险成为管理规模仅次于银行的第二大金融板块。在其飞速发展的同时，无论是市场还是监管部门都开始关注信托公司在经营过程中的潜在风险以及可能对整个金融市场造成的冲击。中国银监会于2010年颁布了《信托公司净资本管理办法》，希望通过对信托公司实行净资本管理以控制其业务增速，并对特定业务实行特别的调控，引导信托公司提升主动管理能力和风险控制能力。但是，从两年来的监管实效来看，，净资本管理似乎并不能阻止信托规模迅速扩张的步伐。于是，我们重新开始思考对信托公司实行监管的意义和方式，以及如何通过监管来有效控制和防范信托公司经营中的潜在风险。本文通过分析我国信托行业及信托公司业务性质，阐述了对信托公司实行资本监管的必要性。通过比较《信托公司净资本管理办法》推行前后信托行业的发展情况，总结了目前净资本管理上的得与失。本文通过对国际上银行业资本监管的研究，借鉴“巴塞尔协议”在银行业资本监管中的经验，创新地在信托公司资本监管体系中引入杠杆率监管，并分析了杠杆率监管的必要性及可行性。通过一定的假设和分析，利用目前信托公司平均的报酬率水平来测算信托产品理论上的潜在违约率，并以此来测算信托公司合理的杠杆率水平。最后阐述了实行杠杆率监管可能产生的影响。
[Abstract]:With the rapid development of the trust industry in recent years, it has attracted more and more attention from the market and regulatory authorities. In just a few years, trusts have overtaken securities and insurance to become the second largest financial sector in size after banks. Both the market and the regulatory authorities are beginning to pay attention to the potential risks of trust companies in the course of operation and the impact on the financial market as a whole. The CBRC issued the "Trust Company net Capital Management Office" on 2010. To control the growth of trust companies by implementing net capital management, And to implement special regulation on specific businesses to guide trust companies to upgrade their active management and risk control capabilities. However, from the perspective of the effectiveness of supervision over the past two years, Net capital management did not seem to stop the rapid expansion of trust size. So we began to rethink the significance and manner of regulating trust companies. And how to effectively control and prevent the potential risks in the operation of trust companies through supervision. By analyzing the nature of trust industry and trust company business in China, this paper expounds the necessity of capital supervision of trust company, and compares the development of trust industry before and after the implementation of net Capital Management method of Trust Company. This paper summarizes the gains and losses of net capital management at present. Through the study of international banking capital supervision, this paper draws lessons from the experience of Basel Accord in banking capital supervision. The paper innovatively introduces leverage ratio regulation into the capital supervision system of trust companies, and analyzes the necessity and feasibility of leverage ratio supervision. This paper uses the average rate of return of the trust company to calculate the potential default rate of trust products in theory, and measures the reasonable leverage level of the trust company. Finally, the paper expounds the possible impact of the regulation of the leverage ratio.
【学位授予单位】：上海交通大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F832.49

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