【正文】 外文文獻： Commercial Bank Risk Management: An Analysis of the Process Abstract Throughout the past year, onsite visits to financial service firms were conducted to review and evaluate their financial risk management systems. The mercial banking analysis covered a number of North American superregionals and quasi177。money center institutions as well as several firms outside the . The information obtained covered both the philosophy and practice of financial risk management. This article outlines the results of this investigation. It reports the state of risk management techniques in the industry. It reports the standard of practice and evaluates how and why it is conducted in the particular way chosen. In addition, critiques are offered where appropriate. We discuss the problems which the industry finds most difficult to address, shortings of the current methodology used to analyze risk, and the elements that are missing in the current procedures of risk management. 1. Introduction The past decade has seen dramatic losses in the banking industry. Firms that had been performing well suddenly announced large losses due to credit exposures that turned sour, interest rate positions taken, or derivative exposures that may or may not have been assumed to hedge balance sheet risk. In response to this, mercial banks have almost universally embarked upon an upgrading of their risk management and control systems. Coincidental to this activity, and in part because of our recognition of the industry39。s vulnerability to financial risk, the Wharton Financial Institutions Center, with the support of the Sloan Foundation, has been involved in an analysis of financial risk management processes in the financial sector. Through the past academic year, onsite visits were conducted to review and evaluate the risk management systems and the process of risk evaluation that is in place. In the banking sector, system evaluation was conducted covering many of North America39。s superregionals and quasi177。money center mercial banks, as well as a number of major investment banking firms. These results were then presented to a much wider array of banking firms for reaction and verification. The purpose of the present article is to outline the findings of this investigation. It reports the state of risk management techniques in the industry―questions asked, questions answered, and questions left unaddressed by respondents. This report can not recite a litany of the approaches used within the industry, nor can it offer an evaluation of each and every approach. Rather, it reports the standard of practice and evaluates how and why it is conducted in the particular way chosen. But, even the best practice employed within the industry is not good enough in some areas. Accordingly, critiques also will be offered where appropriate. The article concludes with a list of questions that are currently unanswered, or answered imprecisely in the current practice employed by this group of relatively sophisticated banks. Here, we discuss the problems which the industry finds most difficult to address, shortings of the current methodology used to analyze risk, and the elements that are missing in the current procedures of risk management and risk control. 2. What type of risk is being considered? Commercial banks are in the risk business. In the process of providing financial services, they assume various kinds of financial risks. Over the last decade our understanding of the place of mercial banks within the financia