Archive for February, 2012
The Research of Our Country Commercial Bank’s Internal Rating System
Commercial Bank is a financial institution that aims at commercial enterprise and individual loan for the main business and its main target is to make a profit. In the business process banks face many risks, including market risk and operational risk, credit risk, etc. With the rapid development of international financial markets and the process of the economic globalization speeding up, credit risk research plays a more and more important role. The international monetary fund has published reports saying that credit risk has become the main factors caused bank bankruptcy. So credit risk in the banking operation plays an important role. With the Asian financial crisis promoted formulation of “the new Basel capital accord” in 2006 and the 2008 global financial crisis promoted born of the Basel III, we can see that the global financial markets deepen coincided with financial crises. At the same time regulators and financial institutions are constantly introducing new credit policies and new credit risk measurement technology to defense the occurrence of risk. Recently the China banking regulatory commission launched four regulatory instruments timely, Including capital requirements, leverage, a provision rate and liquidity requirements and form new framework of the China banking regulatory constitute. But because China’s credit rating starts late and low, so far there is no real sense of the bank’s internal credit rating system. How to establish commercial Banks internal rating system that is suitable to China’s national conditions becoming more and more important.This paper introduces concepts of the credit risk and credit risk rating and elaborated the modern credit rating model and analyzes its applicability in our country. Because domestic commercial Banks internal rating system lags behind the international development level seriously, new Basel capital accord is evaluation gauge to evaluate our own method. In the paper I summarize the evolution of internal ratings process and status quo and then compare it with IRB. Then analyze how the gap is produced. How to perfect our country’s internal rating system construction is proposed at the end of the article.
Study on the Inland Port High-Cut Bank Slope Bank-linking Type and the Relationship Between It and Wharf Structure
With the Three Gorges Reservoir storage,Chongqing urban port is a completely fluctuant backwater area of Three Gorges Reservoir, water level luffing bigger than 30m, water depth greater than 40m,terrain undulating,geological more bare rock, bank-slope steeper, and so on.The conditions make the dispose of bank-linking structure of the piled wharf more complicated in this region. Therefore, with Inland water depth deep, water level luffing big, shore-slope steep, free length of wharf structure long etc. Studying on the inland port high-cut bank slope bank-linking type and the relationship between it and wharf structure, which improves applicable ability of bank-linking type and has the important practical significance.According to Chongqing Highway Transportation Company”Naxigou wharf key technology research project”: reconstruction wharf project of Naxigou in chongqing, aiming at the inland port special hydrological, geological and topographical conditions,this paper establishes interaction model between high-cut bank slope bank-linking and front wharf structure, considering the factors such as construction , load change during operation and water level variation. A large amount of numerical analysis research clear out effects of these factors for interaction between bank-linking and front wharf structure. Through compared analysis the interaction result of the different bank-linking type ,we draw that:Interactions of bank-linking type and front wharf mainly embodied in back row piles and bank-linking structure under no interactions of bank-linking type and front wharf.So, for the bank-linking type,we can design front wharf and back bank-linking type separately, adopting measures to reduce their deformation.Existence of a simply-supported board makes it bigger reaction between front wharf and bank-linking structure and more complex .When it is designed, we should overall consider, integration design.It’s adding damping device between bank-linking and wharf structure that eases level force produced by back filling and heap load.Aiming at the outstanding problems of interaction of the above two bank-linking types, this paper puts forward different types of optimization scheme, providing the basis for the future wharf design.
The Influence about Monetary Policy to Business Cycle and Policy Option in Chinese
Monetary policy is an important component of macroeconomic policy of a country, which plays an increasingly important role in the development of the national economy. Every nation in the world enforces macroeconomic regulation and control on the domestic economy through monetary policy implementation. The relations between monetary policy and the economic cycle is the subject of debate in macroeconomics in a long time. The international financial crisis occurred in 2008 put the debate to a climax on how monetary policy affects economic cycle. How to formulate and implement monetary policy better and help the economy develop in a healthy and stable status, is the focus of a national monetary authorities after the financial crisis.In this paper, the author introduced relative theory of monetary policy and economic cycle after the literature review and analysis about the impact of monetary policy to the business cycle. Then we carried out quantitative analysis of the impact of monetary policy to economic cycle. We concluded that monetary lash affect the real economy obviously, the change of monetary supply is the significant reason of the surge of economic cycle. Next, we interpret the mechanism of monetary policy to business cycle fluctuation, reviewed the monetary policy since the financial crisis of 2008 of China. Then we come to the conclusion that artificial prosperity is not sustainable. Finally, the author puts forward some policy recommendations.The main point of the paper are as follows:Firstly, under comprehensive analysis of relevant documents, we come to the conclusion that monetary policy is asymmetric in economic cycle based on the different stages; Secondly, Chinese monetary policy affect the economic cycle obviously, the change of money supply volume is the significant reason of the fluctuation of business cycle. Thirdly, to review the practice of monetary policy after the financial crisis of 2008 in China, we come to the conclusion that a man-made economic prosperity is not sustainable; In the end, we should change the thinking of operation about monetary policy, no longer keep a close eye to CPI and turn to money supply and interest rates as monitoring indicators.
Discussion about the Realization of Banking Hypotheca
Mortgage loan and credit loan are the two lending facilities of a bank. The type of credit loan may obtain loan through assessing personal credit, without needing providing assurance. Because of the high risk to the credit loan, the banks are used to inspect the management level, economic and evelopment conditions in detail. In order to reduce the risk of credit, the bank only provide the credit loan for a customer with sophisticated quality. In exercises, the quantity of credit loan is a few. The mortgage can reduce the risk of the borrower can’t repay the loan. The stable and reliable security can be made the credit business successfully completed. So it makes an important role. In practice, the bankers are disappointed to find that is difficult to realize the bank hypothec.This paper is from discussing the basic theories of realization of hypothec, examing the legal protection system of realization of hypothec, and analysing a few reasons of realizable difficulties. The reasons include legislative, administrative, judicial and the banks themselves′problems. Then, analyse several special hypothecs, and provide a few reasonable proposals. This paper can be divided into six parts.The first part is introduction. This section outlines the purpose and significance of the topic.The second part is the fundamental theory of the realization of the hypothec. This section is designed to highlight the
Study on Personal Bankruptcy Exemption
Theoretically, a bankrupt of legal personal system is the outspread of a personal bankruptcy system. In fact, countries who has a good personal bankruptcy system, generally have first personal bankruptcy system before a bankrupt legal person system. And in China, bankrupt legal person system has promulgated by the implementation of bankruptcy law. However, “personal bankruptcy law” does not come. In the 2004 “bankruptcy law (draft)”, the first article of the”170″personal bankruptcy has been provisioned. But eventually in 2006 the introduction of the “bankruptcy law is still deleted.In 2008, China’s earthquake, killing hundreds of thousands of private houses collapsed and damaged, there has been a large number of houses collapsed due to the inability to repay home loans situation. May 25 the same year, Bank of China had received China’s first customer inability to repay personal loans home mortgage loan application in Guangyuan City in Sichuan. Therefore, the author based on China’s new situation after the earthquake, and China’s current prices are too high, the risk of asset bubbles and other economic issues. The author believe that our country now can study the problem of personal bankruptcy, and strengthen the “personal bankruptcy exemption system” supporting measures for a deeper study, for the future establishment of personal bankruptcy system for reference. The main body of this article includes five parts.The first part of the personal bankruptcy exemption system introduced the theoretical basis, primarily to pave the way for later research. The author first defines the meaning of personal bankruptcy exemption system. Insolvent debtor in the bankruptcy proceedings, the insolvency proceedings for failing to pay off its remaining debts to pay off exempt from its responsibility. Second, the authors have personal bankruptcy exemption theory, development of the vertical comb, and pointed out that although China is still not established personal bankruptcy exemption system, but it is in our history there have been very real. Then the author focuses on the advanced concepts of personal bankruptcy of the exemption system, and come to the conclusion that it will promote the economic development.The second part will examine the perspective of foreign and Taiwan region invest in the personal bankruptcy exemption system. Since China is currently no system of personal bankruptcy exemption, the author of the internationally existing different models of personal bankruptcy exemption, conditions, effectiveness, etc. straighten out the specific system. And through the horizontal analysis and comparison, the author summarizes the different countries of the advantages and disadvantages of personal bankruptcy system. In this section, the author tries to draw on the experience of other regions, for the last part of the building for exemption of the personal bankruptcy system provides guidance.The third part of the content is for the first two parts of the study concluded. We should depend on our current situation, and establish personal bankruptcy exemption system. The development of China’s market economy has been many, such as excessive growth of consumer credit and other problems can not be adjusted themselves to the urgent need for the introduction of personal bankruptcy law. The development of China’s market economy has been many, such as excessive growth of consumer credit and other problems which can not be adjusted themselves to the urgent need for the introduction of personal bankruptcy law. The personal bankruptcy exemption system , as the core content and the necessary conditions of personal bankruptcy law ,will determine whether the introduction of the personal bankruptcy law, and when introduced. In addition,, the personal bankruptcy exemption system is benefit to create a market with fair environment . While in most developed countries have established personal bankruptcy exemption, the development of personal bankruptcy exemption system is conducive to the realization of China’s integration with the international community.The fourth part of the content is the difficulties that we encounter in how to establish China’s current system of personal bankruptcy exemption. The main reason is that most people still difficult to accept the disclaimer which is conflict with the traditional concept. Second, there are many faults between the personal bankruptcy exemption system and the legal systems in our current law, which makes the content or epitaxial of some conception vague. Problems of confliction on the law applicable are arising. In addition, the personal credit and other supporting systems was afraid of making the current development of imperfect apply to all personal bankruptcy exemption system.The fifth part of the content is proposed learn and absorb foreign advanced countries enacting the law of personal insolvency experience. Focus on our present special conditions of our country, the author try to develop a personal bankruptcy law personal bankruptcy exemption system which provide support for the Personal bankruptcy law with Chinese characteristics. It provide a new chance to start for the honest but unfortunate debtor by improve the design of personal bankruptcy exemption specific system and some related measures, which finally promote the developments of social and economic
Study on the Mode and the Legal System of Banking Supervision
The development of the modern economy cannot leave the stablity of the financial industry. The banking industry is the core of the financial industry. The banking supervision legal regime’s construction is the foundation of preventing the financial risk and keeping the health steady progression of banking industry. In world ,many countries have establishen the banking supervision system successively. The new situtation of the world economy proposed some new requests to the banking supervisory system and our country’s banking supervision system also faces the new challenge. This article through analyzing of the development of the world banking industry finance supervision legal system, profiting from various countries’ experience, attempts to seek from the legal framework to suits our country banking supervision system and consummates our country banking supervisory system. The paper mainly includs four parts.The first part is the inspection to banking supervision system of various countries. It taking American, British, Japan’s banking industry supervision pattern as representative, analyzed legislative situations, the supervision main body and the concrete operational mechanism under three kind of pattern. This part points out that the merits three kind of patterns lie in it good decentralization to keep in balance the mechanism, the supervision authority unification concentrate as well as supervise the efficiency to be high. The shortcoming is that three kind of patterns cannot keep in balance in achieving the supervision power the centralism and the authority. This part summarizes the next bank finance supervision trend of development is multi-level synthesis supervision pattern.The second part analyzes the present situation of our country banking industry finance supervision legal regime. China now has three regulatory law about banking supervision system, various administrative regulations and regulations. Our system is the CBRC to specialized banking supervision, high concentration of banking supervision powers, implementation of the financial sector industries are regulated. Problems in supervision system in China are the legal system, such as regulatory and industry self-regulation does not sound, we need to improve in these areas.The third part ponders the choice of our country banking industry finance supervision pattern. It proposes that our country must establish the first-level multi-level supervision pattern, and establishes the banking industry first-level multi-layer supervision pattern. The first-level multi-layered supervision pattern is the adjustment and the supplement carries on our country existing supervision system, intending to carry on a better authority and the responsibility assignment to adapt the new situation which is brought by the mixed management of the international finance industry. And this part proposes suggestion to consummate banking industry finance supervision concrete legal regime.The fourth part puts forward the proposal to consummate the internal controll system and the risk control system. Internal control system is required in the corporate governance structure, audit system, credit audit management and perfect enterprise internal culture; The perfection of market access system should be from market supervision concept ,audit and relief system.
Study on Risk Precautions of Credit Letter Business
With the development of global economy, the degree of trade internationalization becomes increasingly great. In international trade, because of series reasons such as the great distance between two parts, the difference in trade modes and the great gap of economic situation and so on, the two parts of trade must take trade modes of high credit agreed by both sides to ensure economic benefits of both. In the current rules of international trade, the uniform customs of documentary credit is a rule widely recognized by international society, and its appliance is a good way to increase the comment grades of commercial credit with the use of bank credit, and to apply a safe international trade environment. Due to the high degree of credit letter system’s international practice, such deep and careful study on this system has been conducted by the international bank circle, law circle and academic circle as the advantage of credit letter, the risks and its precautions of credit letter. However, most of current study just probes into the credit letter system so as to give a comment on the trade activities from the angle of international trade. And the writer of this thesis attempts to re-comb the business of credit letter in terms of legal study methods to find out the effective ways of risk precautions of credit letter.Combined with the UCP600 of Uniform Customs of Documentary Credit, this thesis states the credit risks and its precaution measures in terms of law. The whole dissertation is divided into five parts. The first part introduces the study background of letter of credit, the study opinions on risks of letter of credit both home and abroad, the study significance and the social demand of it. The second part covers the general introduction of letter of credit. The settlement process of letter of credit and its legal characters are analyzed, and the implicate meaning of letter of credit in the legal terms is explained. The risk analysis of business of letter of credit is included in part three. Such aspects are mentioned as the analysis of applicants, issuing banks and the risks among other banks. The risks of appliances of letter of credit is analyzed from the angle of law, so as to find out the deep reasons of the existence of risks and give evidences for the risk precautions of letter of credit. Such points are included in part four as the ways of risk precautions of both parties in letter of credit business, namely, the risk precautions of applicants, the issuing banks, negotiating banks , confirming banks and corporations, so as to give a general control to the risk precautions, to secure the international trade and to enhance the efficiency of international trade.
Improvement of the Evaluation Methods Discount of Forest Resources Assets Based on Dynamic Discount Rate
In our country,with the deep reform of forest ownership, the forest investment main body present diversity, and the property right of forest resources has changed frequently.The economic behavior of selling, renting, auctioning forest resources assets,and application with loan on mortgage with forest resources assets is more and more. Making exact and reasonable value of forest assets evaluation is the first need of the change of forest resources property right. Forest resources asset appraisal is one of the most important part of forest resources assets evaluation, this paper only make depth research on resources assets evaluation methods. Now the methods which are used commonly are the cost of replacement which is used commonly on the evaluation of saplingforest; The evaluation of mid-maturat-ion forest is usually valued by the present value approach; The value of nearly ripe forest and mature forest are assessmented by market price approach. Although the existing ass-essment methods are already applied so extensive, the growth of trees is a continuous process,so using different evaluation methods according to different stages which is man-made is not accord with the growth rule of trees.Theoretically speaking, three evaluation methods for the same forest resources assessment should be equal, but actual circumstances were not so. The evaluation results that acquired by different evaluation methods about the same forest resources often have big different. This paper mainly aim at improving the cost of replacement and mid-maturation forest present value approach. This paper argues that one of the main reasons for the different results in different appraisal methods is the adopted of fixed discount rate.In fact, the risk of forest fires, diseases and insect pests, illegal felling trees is proportional to the interval distance. Time has certain quantity relationship with risk, and the discount rate has certain quantity relationship with risk, so the discount rate should be a dynamic function about time.The using of dynamic discount rate for forest assets evaluation is according with the growth characteristics of forest.This paper introduced into dynamic discount rate for improving the forest resources assets.,and make Empirical Analysis with the date from fengceng forest. With thecomparison of tradition evaluation methods and the improved methods,the new methods of dynamic discount rate are more rationality.
The Research on the Establishment and Development of Jiangxi’s Carbon Fund
In recent years, global temperatures continue to rise, which has been a serious threat for the normal life and the future’s development of mankind. Global warming caused by increasing in greenhouse gas emission has become the most pressing international environmental problem. In order to cope with climate change, the international community has jointly established the “United Nations Framework Convention on Climate Change” and the “Kyoto Protocol.” Focus on the global strategic, long-term and global sustainable development, countries have endorsed cooperation and actively responded to climate change.According to the “Kyoto Protocol”, China is no need of taking responsibility for emission reductions now, but as the modern develop position in the world, China is very difficult to avoid in the common responsibility of emission reduction of the greenhouse gas. Low-carbon economy in China is started relatively late, carbon finance and carbon fund development also lags behind. Development of domestic Carbon Fund is on the initial stage, many related laws, regulations and policy supports are still blank. The rich resources of carbons ink and the first national low carbon Conference held in Jiangxi Province, which made Jiangxi Province has a unique position in the carbon market in the country. However, as a central resourceful province, whether the number of items or the estimated annual emission reductions, Jiangxi is at the end of the whole country.The situation of low carbon development is also not optimistic. Therefore, we must catch up and develop the low-carbon economy.This article relies on the background of low-carbon economy, summarizing the situation of the global development in carbon finance and carbon fund, expatiating on several major international Carbon Funds-World Bank Carbon Fund, Carbon Fund of the United Kingdom, Germany Carbon Fund and Japan Carbon Fund; the development of domestic Carbon Fund is not perfect, this paper analyses several new domestic carbon funds, it also points out the series problems of domestic carbon fund development can not be ignored. In view of Jiangxi’s important position in the carbon market of the country and based on the establishment and the development of carbon fund at home and abroad, from the carbon tax, ecological lottery, government-funded, corporate and individual donations, this paper describes the feasibility of funding sources and data analysis in the Carbon Fund of Jiangxi Province, and thus predicts the size of the funds in scientific research. For the advanced experience of home and abroad,.this paper also analyzes the carbon fund’s management design choices in Jiangxi and the prospect of the impact analysis. This article considers that the establishment of Carbon fund’s main objective is to promote CDM projects to be developed, promote establishment and development of Jiangxi carbon finance and low-carbon culture. At the same time, the paper calls on the government to establish of relevant laws and regulations and to provide related policy supports in the development of carbon funds, and starts in the stability and diversification of funding sources,makes the enterprise take part in the management of carbon fund, and complements the existing system deficiencies and constantly to push forward the Carbon Fund of Jiangxi Province by personnel training and delivery and low-carbon culture propaganda.
Some Research Results of Discrete Time Vacation Queueing System
Queuing theory in electronic communication, logistics management, transportation,medical assistance, banking service, production line, and many otherareas have widely application. In the 1970s, for effectively using idle time view,the thought of server taking vacation is introduced to the queuing system. thereare many reasons causing server taking vacation, such as the server engaging inauxiliary work and adding energy for the machine, or giving the machine maintenanceetc. In this M.D. thesis, we investigate three types discrete time vacationqueuing systems, including a discrete time Geom[x]/G/1 queueing with modifiedT vacation policy and set-up time, general randomized working vacationpolicy for a Geom/Geom/1 queueing and a discrete time Geom/G/1 queueingwith multiple adaptive vacations policy and general decrementing service rule.The main results obtained of this paper can be summarized as follows:In chapter 2, we discuss the discrete time Geom[x]/G/1 queueing with modifiedT vacation policy and set-up time. We derive the generating functions andthe mean values for the steady state system size and waiting time, and also getthe generating functions and expects of the busy period, vacation period andvacation cycle.Chapter 3 studies a discrete-time Geom/Geom/1 queueing with generalrandomized working vacation policy. By using the quasi birth and death chainand matrix-geometric solution approaches, we derive the generating functionsand the expected values of the steady state queue length and sojourn time.In addition, we obtain the generating functions and the average values of theregular busy period, busy cycle and vacation period.Chapter 4 studies a discrete time Geom/G/1 queueing with multiple adaptivevacations policy and general decrementing service rule. The generatingfunctions of the steady state queue length, waiting time and their stochasticdecomposition property are derived via the embedded Markov chain methodand regeneration cycle approach. Several common vacation policies are special cases of the vacation policy presented in this study, and some numerical resultsare shown to compare the mean queue length and waiting time of special cases.