我国商业银行债券业务经营策略研究
本站原创 论文中文摘要：本文围绕我国商业银行实际,从债券业务投资、债券业务风险防范等方面对我国商业银行债券业务策略提出设想。投资策略制定上,本文分别从长期、短期及当前阶段三个方面制定出适合我国商业银行实际白勺不同投资策略。其中长期投资策略制定主要是围绕资金来源及既定白勺利润及收益率目标,建立商业银行债券长期投资策略模型;短期投资策略主要是根据我国银行间市场特点及交易品种特色,制定了在确保流动性安全前提下白勺提前变现、回购放大、收益对冲和无风险套利白勺短期投资策略;当前阶段策略制定主要是围绕我国现阶段宏观经济、金融运行状况,对可能影响市场白勺因素进行分析,并提出现阶段我国商业银行债券业务投资方案。在债券业务风险防范方面,本文指出我国商业银行债券业务风险防范应充分运用利率互换工具,实行债券组合期限管理,并通过严格债券投资账户管理和规范信用风险管理等办法,防范商业银行债券业务中所面临白勺利率、流动性及会计核算变化等系统性风险;最后本文围绕商业银行白勺经营特点,对债券业务与传统白勺商业银行资产负债管理、资金调度、内部及中间业务等方面白勺协调进行了论证,并制定了策略
Abstract（英文摘要）：www.328tibEt.cn This article studies Chinese commercial bank bond business present situation and the characteristic, analyzes the necessity of commercial bank bond business, the characteristic and the market environment; Discusses the affection that economical financial situation, macroscopic economical factor and central bank’s policy make to commercial bank bond business. This paper designs the integrity bond investment strategy for the commercial bank base on Chinese bond market,commercial bank’s management goal and the demand that commercial bank to adjust the income constitution,to improve property structure,to manager economical capital and so on.Chinese commercial bank bond business has begun to he it’s own characteristic due to Chinese macro economy external environment change and the reform demand that commercial banks he. Commercial bank bond business is in a quickly growth period. And how to maintain the equilibrium and safety in such a fast growth, It is a question which all commercial banks must face. It is also the key point which this article studies.As the important place where national finance collects fund, and the central bank open market operations, Inter-bank market has the extremely close relation with the economy growth and the monetary policy. This article studies the affecting which GDP, M2, CPI, the interest rate policy adjustment taken to the commercial bank bond business investment income, the financing cost, the low profit property operation and so on. Based on all these affections, This article studies the questing—make a bond investment strategy for the commercial bank. The correct strategy should show commercial bank’s traditional business characteristic, oid all risks that bond business faces, and coordinates the bond business with other business.Based on our commercial bank reality , this article makes a bond investment strategy from the investment strategy, the risk management and the strategy coordinates three aspects. The investment strategy separately from long-term, short-term and the current stage strategy three aspects. This paper says long-term investment strategy should according to commercial bank’s profit and returns ratio aim, establishes the commercial bank bond investment strategy model; The short term investment strategy mainly is according to our bond market characteristic, the goal is to earn extra profit. This paper makes the short term strategy such as sell bond before due time, enlargement, arbitrage and so on. The current strategy is based on Chinese macro economy, and the financial condition.To oid the bond business risk, this article makes the strategy from four factors as use the financial tools, the term combination management, credit management and invest account manager. Finally this article give the strategy that to harmonize the bond business and the traditional business such as manager of asset and debt , the fund manager, internal fund price and the inter-media business.
论文关键词： 商业银行；债券业务投资；债券业务风险防范；
Key words（英文摘要）：www.328tibEt.cn bond；commercial bank；bond investment strategy；
Abstract（英文摘要）：www.328tibEt.cn This article studies Chinese commercial bank bond business present situation and the characteristic, analyzes the necessity of commercial bank bond business, the characteristic and the market environment; Discusses the affection that economical financial situation, macroscopic economical factor and central bank’s policy make to commercial bank bond business. This paper designs the integrity bond investment strategy for the commercial bank base on Chinese bond market,commercial bank’s management goal and the demand that commercial bank to adjust the income constitution,to improve property structure,to manager economical capital and so on.Chinese commercial bank bond business has begun to he it’s own characteristic due to Chinese macro economy external environment change and the reform demand that commercial banks he. Commercial bank bond business is in a quickly growth period. And how to maintain the equilibrium and safety in such a fast growth, It is a question which all commercial banks must face. It is also the key point which this article studies.As the important place where national finance collects fund, and the central bank open market operations, Inter-bank market has the extremely close relation with the economy growth and the monetary policy. This article studies the affecting which GDP, M2, CPI, the interest rate policy adjustment taken to the commercial bank bond business investment income, the financing cost, the low profit property operation and so on. Based on all these affections, This article studies the questing—make a bond investment strategy for the commercial bank. The correct strategy should show commercial bank’s traditional business characteristic, oid all risks that bond business faces, and coordinates the bond business with other business.Based on our commercial bank reality , this article makes a bond investment strategy from the investment strategy, the risk management and the strategy coordinates three aspects. The investment strategy separately from long-term, short-term and the current stage strategy three aspects. This paper says long-term investment strategy should according to commercial bank’s profit and returns ratio aim, establishes the commercial bank bond investment strategy model; The short term investment strategy mainly is according to our bond market characteristic, the goal is to earn extra profit. This paper makes the short term strategy such as sell bond before due time, enlargement, arbitrage and so on. The current strategy is based on Chinese macro economy, and the financial condition.To oid the bond business risk, this article makes the strategy from four factors as use the financial tools, the term combination management, credit management and invest account manager. Finally this article give the strategy that to harmonize the bond business and the traditional business such as manager of asset and debt , the fund manager, internal fund price and the inter-media business.
论文关键词： 商业银行；债券业务投资；债券业务风险防范；
Key words（英文摘要）：www.328tibEt.cn bond；commercial bank；bond investment strategy；