商業(yè)銀行風(fēng)險管理—畢業(yè)論文外文及翻譯-文庫吧
2025-08-10 10:45 本頁面
【正文】 l sector has improved substantially. Over this time, much has been written on the role of mercial banks in the financial sector, both in the academic literature and in the financial press. These arguments will be neither reviewed nor enumerated here. Suffice it to say that market participants seek the services of these financial institutions because of their ability to provide market knowledge, transaction efficiency and funding capability. In performing these roles, they generally act as a principal in the transaction. As such, they use their own balance sheet to facilitate the transaction and to absorb the risks associated with it. To be sure, there are activities performed by banking firms which do not have direct balance sheet implications. These services include agency and advisory activities such as 1 trust and investment management。 2 private and public placements through ``bestefforts39。39。 or facilitating contracts。 3 standard underwriting through Section 20 Subsidiaries of the holding pany。 4 the packaging, securitizing, distributing, and servicing of loans in the areas of consumer and real estate debt primarily. These items are absent from the traditional financial statement because the latter rely on generally accepted accounting procedures rather than a true economic balance sheet. Noheless,the overwhelming majority of the risks facing the banking firm are onbalancesheet businesses. It is in this area that the discussion of risk management and of the necessary procedures for risk management and control has centered. Accordingly, it is here that our review of risk management procedures will concentrate. 3. What kinds of risks are being absorbed? The risks contained in the bank39。s principal activities, ., those involving its own balance sheet and its basic business of lending and borrowing, are not all borne by the bank itself. In many instances the institution will eliminate or mitigate the financial risk associated with a transaction by proper business practices。 in others, it will shift the risk to other parties through a bination of pricing and product design. The banking industry recognizes that an institution need not engage in business in amanner that unnecessarily imposes risk upon it。 nor should it absorb risk that can be efficiently transferred to other participants. Rather, it should only manage risks at the firm level that are more efficiently managed there than by the market itself or by their owners in their own portfolios. In short, it should accept only those risks that are uniquely a part of the bank39。s array of services. Elsewhere Oldfield and Santomero, 1997 it has been argued that risks facing all financial institutions can be segmented into three separable types, from a management perspective. These are: 1. risks that can be eliminated or avoided by simple business practices。 2. risks that can be transferred to other participants。 3. risks that must be actively managed at the firm level. In the first of these cases, the practice of risk avoidance involves actions to reduce the chances of idiosyncratic losses from standard banking activity by eliminating risks that are super ˉ uous to the institution39。s business purpose. Common riskavoidance practices here include at least three types of actions. The standardization of process, contracts, and procedures to prevent inefficient or incorrect financial decisions is the first of these. The construction of portfolios that benefit from diversification across borrowers and that red
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