【正文】 s and offsite monitoring, to municate with banks about the risk management framework and methods.這一新機構(gòu)的主要任務之一是發(fā)展除實地考查和非實地監(jiān)管之外的第三種渠道，以就風險管理體制和方式與各家銀行進行溝通。? Not necessarily indicating a more use of Greek letters and math formula無需多用希臘字母和數(shù)學公式216。 In this new environment, financial institutions are expected to develop further creative business services that meet the needs of customers through…在新情況下，金融機構(gòu)預計可通過提供下列創(chuàng)新服務來滿足消費者需求：l Assessing various risks not only in a conservative way but also in an accurate way. 穩(wěn)健而準確地進行風險評估。 Background of Banks’ Efforts to Enhance Risk Management and the BOJ’s Initiatives to Encourage These Efforts 銀行業(yè)推進風險管理及日本銀行支持舉措的背景216。 Topics from the Sound Practices Papers and Discussions in the Seminars 金融機構(gòu)整合風險管理研討會發(fā)布的相關(guān)報告l “Advancing Credit Risk Management through Internal Rating Systems”以內(nèi)部評級制度為基礎(chǔ)強化信用風險管理 l “Advancing Operational Risk Management” 強化操作風險管理l “Advancing Integrated Risk Management” 強化整合風險管理2Background of Banks’ Efforts銀行措施的背景216。l In other words, financial institutions are expected to grasp effectively the various risks inherent in their business (. economic value and its volatility of all the assets they possess and transactions they engage in), and also to establish a framework that manages these risks in an integrated way.換句話說，金融機構(gòu)預計能有效把握業(yè)務中存在的各種風險（例如，其擁有和參與交易的全部資產(chǎn) 價值及波動 )，并建立風險 綜合 管理機制l In addition, Basel II implementation surely pressures banks to intensify the above efforts.此外，巴塞爾 Ⅱ 的出臺迫使銀行強化上述措施。 What banks need is more objective and more persuasive tools to assess risks 銀行業(yè)需要更客觀、更有說服力的風險評估工具l Objective and persuasive risk assessments lead to higher transparency of risk management process and thereby clarify the responsibility associated with risk taking activities ? help ensure the direction toward improving risk management.客觀而有說服力的風險評估將 增強 風險管理過程 透明性 ，進而明確風險活動各方的責任 ?有助于確保 改善風險管理l There are no best practices of banks’ risk management, which could differ depending on their facing environments ? need to establish the incentive mechanism to ensure the direction toward improving risk management. 并不存在 能隨市場環(huán)境變化而變化的銀行風險管理 最佳方案 ?需要建立 激勵機制 ，以確保改善風險管理4BOJ’s Initiative (1) Publication of Sound Practices Papers日本銀行的動作（ 1） 公布金融機構(gòu)整合風險管理報告 5216。216。? Our strategy is to capitalize on, to the maximum, the implementation of Basel II and its acpanying momentum of advancing risk management among banks. 我們的戰(zhàn)略是最大限度的利用 巴塞爾 Ⅱ 及其附隨文件中關(guān)于 強化銀行風險管理的規(guī)定。 Contents內(nèi)容216。 Uses of internal rating systems內(nèi)部評級制度的靈活運用216。 (Major discussion points in the seminars) Definition of default, consistent treatment of counterparty risks of market transactions, data integrity required for estimating risk ponents, concentration risk control measures using UL oute, etc .（研討會的討論要點） 違約的定義，市場交易伙伴風險的協(xié)調(diào)處理，風險因素評估所需要的資料整合，利用 UL成果集中風險管理措施。 Many banks including major ones are still seeking for the appropriate validation methods of internal rating systems and risk ponents.包括主要銀行在內(nèi)的許多銀行仍在尋求的內(nèi)部評級制度和風險因素恰當?shù)男拚椒?。l Simplifying the loan review process for higher?graded borrowers簡化優(yōu)良評級企業(yè)的審查程序。 Many banks have already used the internal rating systems as indicated in the above with some exceptions such as facility rating.許 多家 銀 行已 經(jīng) 建立了除 設(shè)備評 估外的上述內(nèi)部 評級 制度。 Overview of efforts to advance op risk management and the establishment of an op risk management section強化操作風險管理機制的概要和操作風險總括部門設(shè)置216。 18Advancing Op. Risk Why Now？目前 強 化操作 風險 管理的原因何在？ 216?！auses of risk materialization風險發(fā)生的主要原因l It is normally difficult to narrow down the factors causing such risk to materialize, and quite often, it only emerges when several factors e into play ，而且多個原因共同作用風險才體現(xiàn)出來的情況也不在少數(shù)。 The importance of risk management based on qualitative information定性手法的重要性l It is not always easy to manage them in a quantitative manner.采用定量手法進行風險管理并不容易 216。22Establishment of an Operational Management Section操作風險總括部門設(shè)置216。④ Evaluate and guide the operational risk management situation.評估并指導各個部門的操作風險管理狀況216。 Key Risk Indicators重要風險管理指標25III.　Advancing Integrated Risk Management強化整合風險管理26SPPIII: “Advancing Integrated Risk Management” 報 告－ 3：強化整合風險管理? Contents 內(nèi)容– Overview of integrated risk management at financial institutions我國金融機構(gòu)整合風險管理概要– Integrated risk management for use: Issues to be addressed with high priority 整合風險管理當前的課題– Other issues to be discussed for further enhancing the effectiveness of integrated risk management強化整合風險管理的論點– Use of integrated risk management in corporate management 整合風險管理在經(jīng)營當中的運用? Some risks are very important for Japanese banks to address, but the methods for identifying them have not yet been established, and thus they are managed differently from one banks to another. The paper emphasizes the importance of incorporating these risks into banks’ integrated risk management framework as well as other traditionally well identified risks.某些風險急需日本各銀行應對，但還未建立有效識別的方法，因此各家銀行對其處理方式各異。 Risk is quantified using the statistical method based on the past data such as VaR. 風險的計量多采用關(guān)注資產(chǎn)價值變動的 Value at Risk（ VaR） 手法。216。 It is desirable that risk management section is independent from the front line.最好將風險管理部門與第一線的業(yè)務部門獨立開來216。 ① Targeting risk: credit risk, market risk, interest risk associated with bonds, op. risk, etc. ： ④ Correlation between risks ? Needs of verifying the stability of the correlation frequency amount of loss Stress testing ? Complementing the limit of VaR? Focus of objectivity vs focus of flexibility↑ Nontargeting risk ? Needs of considering how to deal with these risks in the integrated risk management framework