【正文】 3 投資指南和策略 投資指南和建議定位是第三個將在未來普遍使用的技術。然后，即使對那些符合條件的投資，也會有一些限制性的規(guī)定。 標準化的財務報告是下一個組成部分。該公司的管理依賴于銀行的步驟，以落實風險管理體系的序列。但是在這種情況，傳遞風險可能會比對沖這種潛在風險更加困難和昂貴。這些資產(chǎn)能以公允價值出售。第二步，通過多元化的投資組合分散借款人的利益，從而減少投資損失帶來的影響。同時，銀行也無需承擔風險，它只需要把風險有效地轉移給其他參與者。 通過“最大努力”促進私人和公共存款合同 。在過去十年中，我們對商業(yè)銀行在金融部門的地位的認識已大大提高。此報告沒有列舉行業(yè)內(nèi)普遍采用的方法，也沒有提供對這些方法的評價。在針對這種情況，商業(yè)銀行己開始了一項對風險管理和控制系統(tǒng)的升級。s goals and objectives. To see how each of these four parts of basic riskmanagement techniques achieves these ends, we elaborate on each part of the process below. In section 4 we illustrate how these techniques are applied to manage each of the specific risks facing the banking munity. and reports. The first of these riskmanagement techniques involves two different conceptual activities, ., standard setting and financial reporting. They are listed together because they are the sine qua non of any risk system. Underwriting standards, risk categorizations, and standards of review are all traditional tools of risk management and control. Consistent evaluation and rating of exposures of various types are essential to an understanding of the risks in the portfolio, and the extent to which these risks must be mitigated or absorbed. The standardization of financial reporting is the next ingredient. Obviously, outside audits, regulatory reports, and rating agency evaluations are essential for investors to gauge asset quality and firmlevel risk. These reports have long been standardized, for better or worse. However, the need here goes beyond public reports and audited statements to the need for management information on asset quality and risk posture. Such internal reports need similar standardization and much more frequent reporting intervals, with daily or weekly reports substituting for the quarterly GAAP periodicity. limits and rules. A second technique for internal control of active management is the use of position limits, and/or minimum standards for participation. In terms of the latter, the domain of risk taking is restricted to only those assets or counterparties that pass some prespecified quality standard. Then, even for those investments that are eligible, limits are imposed to cover exposures to counterparties, credits, and overall position concentrations relative to various types of risks. While such limits are costly to establish and administer, their imposition restricts the risk that can be assumed by anyone individual, and therefore by the anization as a whole. In general, each person who can mit capital will have a welldefined limit. This applies to traders, lenders,and portfolio managers. Summary reports show limits as well as current exposure by business unit on a periodic basis. In large anizations with thousands of positions maintained, accurate and timely reporting is difficult, but even more essential. guidelines and strategies. Investment guidelines and remended positions for the immediate future are the third technique monly in use. Here, strategies are outlined in terms of concentrations and mitments to particular aras of the market, the extent of desired assetliability mismatching or exposure, and the need to hedge against systematic risk of a particular type. schemes. To the extent that management can enter incentive patible contracts with line managers and make pensation related to the risks borne by these individuals, then the need for elaborate and costly controls is lessened. However, such incentive contracts require accurate position valuation and proper internal control systems. 中文譯文： 商業(yè)銀行的風險管理：一個分析的過程