Banking system and its development in the period of transition to the market

Commercial banks as the main segment market economy. Principles and functions of commercial banks. Legal framework of commercial operation banks. The term "banking risks". Analysis of risks and methods of their regulation. Methods of risk management.

Рубрика Банковское, биржевое дело и страхование
Вид дипломная работа
Язык английский
Дата добавления 19.01.2014
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the country risk, functionally divided into advanced and shta ITATION b. Engaged in collecting the most advanced modern and relevant assessments, while staff have developed independent scientific prognosis of direct economic and political situation in the riskiness of a particular country or region. Further, these studies have become regular char ter and began to take shape in the standard way s zu.

Around 1980 the economic department Shveytsars bank ATMs in Coy tion Corporation has developed a new, systematic and well-normalized principles approach to determining the level of country risk:

* Prediction of country risk should be based on analysis of the structure p tion and qualitative characteristics of the State, as well as quantitative indicators, based on the study ITATION digital data and t wo relations;

* Conclusions about the causes of increased riskiness of provisions should be fully understood t us the reader of the report;

* A combination of two types of analysis (qualitative and quantitative) should be clear and specific: all tables and comparisons must include pa with encryption cuts to facilitate the analysis and enhance its effects in completely.

These basic principles have led to the formation of a two-stage structure of the analyzed statistical and analytical materials on board. The first item in the stump of a report on the situation in the country (brief description of the economic situation). The volume of this part of the summary is strictly limited to two pages. At the beginning PriVO ditsya most significant part of the analysis, ie conclusion regarding the country risk and the final yes n ITATION the country from here it selected key information. These summaries ful l nyayutsya on standard dard model taking into account the political situation, national s tional economy, external balance and foreign Zadoya l relief.

Based on this analysis, statistical and analytical control of serves a complimentary and is a judgment concerning the classification of the country risk in the forward and changes to the analyzed country.

In the second part of the analysis carried out specific economic-poly cally and with conflict situations and the level of total country risk using risk factors Scheme (FIS). Thus it turns out straight (Swe th royal Banking Corporation - consumer) and reverse (bank, manufacturer, etc. - Swiss Banking Corporation) relationship. Create compressed information report, which ing can be quickly analyzed and ensuring of reliable e Chiva completely results and their comparison Schemes risk factors with data from other surveys or marketing directly with governmental observation I E.

Arising in this way multilateral dialogue - is wel t vuemy and the desired result of contributing to effective cuttings processing and final decisions on the on the boards of financial activity of STI in the analyzed habitat, taking into account that risk factors. For these reasons, risk factors scheme adopted in Swiss banks, is particularly simple, easy to read and comprehend form. Of course, this does not mean that the experts on statistics and analysis of specific national action sitivity analysis limited to only those data that are contained in the soda p Scheme factors with ri ka

Currency risk

Currency risk, or the risk of capital losses associated with internationalization zatsiey market banking, the creation of transnational (joint) pre d enterprises and banking institutions and diversify their activities tion and pre d constitutes a possibility of financial loss as a result of currency fluctuations.

The first attempts to control l eniya currency risk were carried us in the early 70s, when floating exchange rates were introduced.

For its part, currency risks are structured as follows arr way:

a) commercial, ie associated with a reluctance or inability to properly and ka (the guarantor) with pa considered on its obligations;

b) conversion (cash), ie risks of currency losses on con crete operations These risks are structured on the risks con concrete deals. The most common techniques reduce the risk of conversion I lyayutsya:

* Hedging, ie creation of compensating currency position for Single Well doy risky transaction. In other words, there is com sation rate of exchange of one of the risk - profit or loss - ri with other relevant com;

* Currency swap, which has two varieties. First Napo Mina clearance parallel loans, when the two sides in two different countries of equal provide loans with the same terms and ways absorption and maturity, but denominated in various currencies. The second option - just agreem ting between Bank and E to buy or sell a currency at a rate of "slot" and on p and tit deal in pre-agreed date (in the future) to determine the rate divided "slot." Unlike parallel loans swaps do not include payment of interest due;

* Set-off risks of assets and liabilities, the so-called ME Todd "matching" (matching), where by deducting income shaft w you value the outflow of the bank's management has the ability to affect me of their size.

Other transnational (joint) Banks (SB) use the "don t Thing" (netting), which is expressed with the maximum number of abbreviations in foreign exchange transactions and by their enlargement. For this purpose, the coordination of all departments of banking institutions should be of a high standard (system "7C" social Hoc concept Marketi n ha)''.

In 1986, ten large SAT London organized by "Foreksnet" for netting, reducing the number of conversion tion operations and a reduction in foreign exchange risks and transaction costs. Accordingly, when such centralizes tion and currency risk hour partially removed from the branches and specific units and transferred to a central unit relates;

c) translational (accounting) risks that arise when n ke overestimate assets and liabilities balances and account "Gains and losses" and profiles of foreign fishing clients, contractors. These pics of ki turn depend on the choice of currency conversion, its stable variability and other factors. Recalculation can be carried in lyat smiling method of translation (at the current rate on the date of conversion) or east of trigonometric method (as at the date of the con crete operation). Some of rye banks account for all current operations at the current rate, and long-term - for historical mu, others analyze the level of risk of financial operations at the current rate, and the other - the historic and still others choose one of the two accounting methods and use it to control the totality of their risky op e radios.

g) risks forfeiting that arise when forfeter (they often I wish to set up a bank) assumes all risks exporter without recourse. But at the same time forfeiting (method refi nancing commercial risk) has its advantages, with the help of which may be reduced at the level of risk in order n:

* Simplify the balance of relationships possible obligations ments;

* Improvement (at least temporarily) liquidity, which gives OPPORTUNITIES w completely to further strengthen financial stability STI,

* Reduce the probability and possibility of losses by insurance of at z sible difficulties that almost inevitably arise in the period are charged e of previously insured requires O considered;

* Reduction or even absence of the risks associated with fluctuations in interest rates;

* A sharp decline in the level of risk associated with exchange rate fluctuations tions in a lute and changed e tion of financial stability of the debtor;

* Lack of risks and costs associated with the activities of the credit for bodies collecting money for bills and other payment documents nym n there.

But, of course, forfeiting can not be used at all times and de ve s. This is one of the ways to reduce risks.

Currently CBR regularly publishes the so-called "currency basket" - a method of measuring the weighted average exchange rate of the ruble against a specific set of other currencies.

And finally, the external risks include the risk of natural disasters tions or as it is called force majeure (Roy), which depends on the presence or absence of natural phenomena of nature and related after d consequence, and from all sorts og straints with hand gosudars t wa.

Internal risk

Internal risks depend on the type and specificity of the bank, the nature of its activity, s capacity (opera u s) and the composition of its partners (clients and counterparties n cent).

Risks associated with the bank's view

There are three types of commercial banks Cove - special purpose district ITATION, industry and universal. In each of them there are all kinds of pu with Cove, but the probability of their frequency originated emergence and specificity depend on the type of himself on the banking institution.

Activities of universal banks also uni versal. They are engaged in virtually all types of banking services (credit, settlement and financial s E). Moreover, in the village of glaciers time universal commercial banks are increasingly carried mented unconventional operations, such as operations with various governmental types of securities, leasing, factoring, clearing etc.

Specialized commercial banks targeting the de yours elf to provide basically any specific con meadow, ie have clear cuttings and fluoropyridinium commodity orientation. For example, innovation, investment, ss at dosberegatelnye, mortgage, deposit, clearing and other banks. Other banks specialized ed on the maintenance of certain categories of customers from sectoral (agricultural, industrial, construction) or to national func (exchange, insurance, trust, cooperative ITATION, utilities) and the characters straight.

And finally, there is a market and orient tion activities spe cialised commercial banks, ie they may be regional tional, interregional, transnatsional s governmental.

Level and type of internal risks faced again personal types of commercial banks, mainly depend on the specific activity of their matches on the STI.

In specialized commercial banks, such as innovation onnyh dominate the risks associated with lending to new tech nologies. According to the results of the sampling pe sa statistical analysis is my biggest risk I is commissioning technological innovations without qualified pre d provisional assessment of its potential real effective. The reasons for the increased risk of m Gut be:

* Use the new technology started prematurely, even before production costs are aligned with the actual level Ryno h relative prices;

* Products released before the buyer is willing to pay for novshes wa t, ie volume of potential demand is insufficient to justify the Difficult and you.

Consequently, the real s tion demand even lower;

* The number of suppliers and intermediaries involved with the prospect of growth in demand, redundant for a particular market (a market segment, windows, niches), which leads to higher specific banking tons of Vara.

However, many investment banks have, for example, a lower level of portfolio risk, as they have impact opportunity to offer their customers a variety of services for management claimed credit portfolios of securities. Thus, they get fixed incomes. In order to reduce such risks not only the banks but also their well-meaning and intended audience contact should conduct active marketing efforts to identify actual and potential market capacity and ka real potency and Alno and demand for a particular product of the bank (ie, certain banking cond in gu) '.

In branch banks the most important value for the level of risk are of the form and specific industry-specific (old or new, first prospective, strategic, etc.).

Activities of universal banks exposed to risks of both types, and the one to the same combinations thereof and tions.

Risks related to the nature of banking operations

Depending on the nature of banking risks may be associated with specific balance sheet or off-balance sheet transactions, and those and other e Div lyayutsya risks of active and passive operations risks.

Risks of passive operations

It is through passive operations Bank adjusts its D resources for the implementation of active banking operations. To versatile nym operations comconsole p mercial banks include deductions from profits if the formation (increase) in authorized capital with; credit value dits received from other entities; deposit Opera tion. Only the first group forms the passive operations with b governmental ITATION from banks. Obtain bank loans from other legal entities must often for operational liquidity regulation ball n cos issuing banks or unforeseen credits.

Deposit operations - operations that fundraising businesses and / or individuals in deposits or to On demand of, or on a certain date. Deposits may be urgent, on demand, in the form of savings deposits of individuals, the prices of securities. Passive operations risks associated with possible hindered neniyami active operations in providing resources. Most often it is the risk associated with performance management Assessing the contribution of Dr. Chica (one manufacturer or group "Sister" company tions). For warning Well tion risk for the formation of deposits banks must comply Cams optimal balance between passive and active mi deposit operations, ie contributions enterprises prises to the bank and deposits placed by banks in some others have gih banks, determine the size and liquidity attracted deposited securities to raise the level and quality of mobile, find it advisable tion s minimum ratio of equity and risky assets, and discharge methods Botha calculating the coefficients ent connectedness deposits taking into account features of the bank STAY and guide them when placing a deposit and comrade.

Risks of active operations Interest risk

Risks active operations related to the level of so-called interest rate risk, which banks are constantly exposed to in their work.

Interest rate risk associated with possible fluctuations in market s Prospect of interest rates. The risk to the bank may, for example, be in the next e following. Issuing, say, a loan, the bank may be at a disadvantage if an increase in market interest rates, as it will be forced to pay higher interest on de n positive and pur nym resources, which most directly affect the amount of n beam profits.

Portfolio risk

Portfolio risk is the probability of loss on certain types of securities, as well as all categories of loans. Portfolio risk Subpart I are financial, liquidity risks, the system cal and nesist e matic.

Financial risks can be defined as follows: the more leveraged banks are joint stock companies, enterprises, including joint banks, the higher the risk for their shareholders, founders. At the same sp e mja borrowed funds are an important and lucrative source of funding, since the cup all of cheaper than the production and sale of additional shooting Jay securities. According to the accepted standards for borrowers corresponding ratio between equity and debt - the debt ratio (Kd) - varies within 0.2-0.3. This risk is closely associated with the risk of the lever (L e veredzha - leverage), which depends on the ratio of capital invested in securities with fixed income Rowan, non-fixed-income and total volume of fixed and working capital. The level of this risk is measured using the following formula in the forms:


where: ROA - return on assets, ie level of efficiency using transformations of all of the bank;

ROE - level is effectively used and of equity ka capital;

EM - the coefficient of the bank's ownership.

Liquidity risk - the ability of financial assets operators arr, swiftly and schatsya in cash. The largest and most famous of Producers and banks whose shares are traded on central exchanges, have the lowest risk of this kind. Small firms same - neoplasms ized, venture capital - more dangerous in this rel about shenii. In this case, special attention should be paid to the choice of mediation and Cove. The main types of financial intermediaries, the specifics of their rights and obligations bilities have a big impact on the business activity of banks Cove. S right in their boron affects all kinds of risks.

Systemic risk associated with changes in stock prices and their yields Stu tech at schim and expected interest on the bonds, expected by E dividend rate and additional profit caused by general market fluctuations. It combines the risk of changes in interest rates, the risk that the overall market prices and inflation risk tion. Lends itself quite accurate prediction, as the tightness of St. I link (correlation) between the exchange rate and stock market conditions common in reg lar and fairly reliably recorded difference h governmental stock indices.

Unsystematic risk does not depend on market conditions and the specifics of a particular company is banking. It can be branches left and financial. On with new factors that have influence on the level of non-systemic briefcase s rate risk, are the availability of alternative spheres of (investment) f and financial resources, commodity and stock market conditions ry n Cove and others.

Set of systemic and non-systemic risk is the risk and invest Nations.

General market risk of falling prices

General market risk of falling prices - is the risk of forgone income and so on to kim or financial assets. It is most commonly associated with a fall in prices for all tion of the market b inverting Mr. Tse ITATION paper at the same same time.

In countries with developed market economies, there are firms s - e whether observers (for example, "Standard End Puers "), which are constantly analyzing the level of portfolio risk of various securities.

Ut can definitely maintains that shares of private firms and joint-stock enterprises riskier than government bonds. State No. of those theoretically and practically can not go broke because of its income on debt guaranteed by all the treasure of the country. At the same time negosuda p respectively, and to the joint stock and venture enterprises are more flexible, efficient, although the level of bankruptcy is higher.

Inflation risk - the risk that defined life cycle reflects scrap ley. The main factors affecting the development of the industry next e following:

a) reorientation of the economy, due to the overall economic stability and nest in the world, in certain regions, countries, markets, market segments n there, niches and windows, on the one hand, the rising cost of resources with others in goy;

b) any depletion of resources;

c) changes in demand in the domestic and world markets tion of marketing;

g) general historical development of civilization.

Credit risk

Credit risk, or the risk of default of debt, to the same extent as applies to banks , and to their customers and can be promsh lennym (related to the probability of e th decline in production and / or demand for products u uw with whether certain reflection); risk settlement and poctavok due to failure for some reason the contract s relationship, the risk that is associated with transformation f th kinds of resources (most likely date), and the risk of force majeure obstoyate l stv. Credit risk of banks depends on the following factors:

* Degree of concentration of credit the bank's activities in any field (industry) that is sensitive to changes in the economy that having elastic demand for their products, which is expressed by the degree of concentration c entratsii n ka ba customers in certain of raslyah or geographical areas, especially prone to konyun tural changes;

* If the share of loans and other banking contracts coming ing on customers experiencing certain specific ski e d labor completely;

* Con fi entratsiya the bank's activities in neglected, new, not a tradition n tion areas;

* Make frequent or significant changes in the policy of the bank and on before with tavleniyu e cr dits, the formation of portfolio securities;

* Share of new and recently attracting tion n clients;

* The introduction of too many new services in a short period (then the bank most exposed to the presence of negative or zero, the potential demand ) ;

* Acceptance as collateral c ennostey, difficult to be realized n and the market or used subject to depreciation s stroma.

According to the results of the statistical analysis, we can conclude that the private and joint-stock companies are more flexible and efficient than state, but often ruined. The same can be said about the large and small manufactures e Lyakh. Joint ventures I often susceptible to external and / or political risks e SKIM. sharehold 'statutory enterprises should pay special attention to all types of portfolio risks.

Lending risk borrowers depends on the type of credit granted. Depending on the terms of granting loans are short -, medium-duty and on the urgent, the kinds of software - provide tained and unsecured, which in turn can be per sonalnymi and banking, the specifics of credit d um about ditch-banks SCIE, state, commercial (corporate), loans insurance panies and individuals konsortsionalnye (syndicated), which are structured to cells in bnye (where the number of creditors is limited Cheno) and open (uch a part in it. can accept any bank or business) from species d e inhibitors - agricultural, about thinking, utilities, personal, eg by using a tion tion - consumer, industrial, about the formation of working capital, investment, seasonal, time to eliminate government finances on O difficulties, intermediate, transactions with precious E trading, import and export, by size - small, medium set, large, the presentation mode - promissory notes, for n on can open accounts soup, seasonal consignment.

Transport risk

Of particular interest are the so-called transport risks. Cation of them stem from the first International trade has been brought howling Chamber in Paris (1919) and unified in 1936, whenever there first promulgated rules INCOTERMS. After the recent correction (1990) various transport risks are classified by the degree of smiling and liability in four groups E, F, C and D.

Group E includes one situation - when the supplier (selling c ) holds tons of var on its own warehouses (Ex Works). Risks adopted versity itself fasting crate and his bank before accepting the goods on the purchasers. The risk of transportation from the premises to a final seller centage points already assumed by the buyer and its ba n com.

Group F contains three specific situations transfer responsibility vennosti and risks :

A) FCA (Free Carrier ...... / named Place), this means that the risk response and liability of the seller (and his bank) transferred to the buyer (broker) in m of element in the transfer of goods from the layer in lennom place;

6) FAS (Free Along Side Ship ...... / named port of deshuation), is lake began that responsibility and risk for the goods pass from on stavschika (and his bank) to the numerator in buying a particular contract port;

a) FOB (Free On Board ..... / named of Shipment) means that sold ECV and his bank disclaim any responsibility after unloading the goods from the bead to about Rabelais.

Group C includes situations u s, when an exporter selling fi , his bank sign a contract with a buyer for transportation, but not taken versity no risk. They include the following th ing specific situations:

A) CFR (Cost and Freight ....... / named port of deshuation). Seller and his bank pay the cost of transportation to the port of arrival, but the risk and responsibility t bility for the integrity and stored completely goods and the additional costs assume the buyer and his bank. Transfer of risk and liability occurs at the element s and loading the ship;

6) CIF (Cost, Insurance, Freight ....... / named port of deshuation) meaning is that, apart from duties, as in the case of CFR, the seller and the bank must provide and pay for insurance risks during transport and Rovki ;

a) CPT (Carriage Paid That ...... / named Place of deshuation), ie sa ve fi and dormancy in the patel (and their banks) are divided between the risks and responsibility vennost. At some point (usually some intermediate point tion transportation) is full of risks pass from Stu about giving u and and his bank to the buyer and his ba Koo;

g) CIP ( Carriage And Insuranse Paid To .... / named pl A ce of deshuation) means , that the risks are transferred from the seller to the buyer in determining divided intermediate point transportation, but other than that of, the seller provides and pays one hundred and bridges insurance product.

The last group of terms D means that all transportation risks are borne by the seller. This group includes the following specific situa tion as:

A) DAF (Delivered At Frontier .... / named Place), ie Seller adopted maety the risks specific to the state border. Next, take on risks with e os buyer and his bank;

6) DES (Delivered Ex Ship ...... / named port of deshuation) means that the transfer of risk from seller to buyer takes on board the bark used in A;

a) DEQ (Delivered Ex Quay (Duty Paid ) ...... / named port of deshua tion) - ln e cottage risk occurs when the goods arrive at the port loaded s ki;

g) DDU (Delivered Duty Unpaid ..... / named Place of deshuation) - the seller takes the risk for damage to vehicles, sweat ri, theft and other goods up to a certain place of the contract (cha slit all this warehouse) in the buyer ;

d) DDP (Delivered Duty Paid ..... / named Place ofdishuation) sa- ve n t respon veins for transport risks to a certain place on the territory of the buyer, but he has to pay them.

It should be noted that, if the buyer does not receive the goods on to a kim any reason or is unable to produce Oplan that in the contractual period, the risks can go from straight on pressure p and to him early hour above.

Leasing and factoring risks

At Level of bank risks may also arise when the implementation of leasing and SRI l and factoring operations, and barter of Mr. Cleary O transactions.

Leasing - a method of financing the development of new technology, expand sales of equipment, which is especially important in the period required use of conductivity accelerated introduction of individual elements of the real main cap and Tala, reducing lifecycle tons of goods and etc.

Leasing is currently considered the operation at risk. P of this expedient implementation lyat losses from him from the reserve fund of the bank.

Depending on the shape of relations between entities carried stvlyayuschimi leasing operations, it can be operational, finan cial, return, international. Each of vysheperechis lennyh types of leasing may be a direct or indirect I mym, and renewable term (revolving), clean and l nym.

Clearing - payment is mutual between the two banks, regions, economy and unity cal u s, the states in which producers ditsya exchange goods without transferring money (currency). The essence of the clearing ha expressed as follows: def f divided for calendar period, usually one year, the amount of bilateral trade used inverting on specific bank accounts tion of various countries on regular trading on Vania special clearing agreement. Exercising clearing, on each side of the exporter receives the amount of exported goods from its first bank. The Bank, for its part, is not waiting for the translation of the bank import tera, debit clearing account and sends a corresponding debit memo sponding bank associated with m and porter . /

Barter transactions - is a form of compensation when goods Oplan CHAIRPERSON no money, and goods. Barter transactions may be between brand and Interstate have dedications. Most often barter intercompany transactions are carried out through a variety of intermediaries n.

International barter transactions, as well as clearing and linked us with price lists, technical credits, in alyutoy for conversion and the cost of goods, but they are not associated with a certain time period, and the duration of ba r istic contracts depends on the quantity and value of goods specified in the district to any concrete price cmax.

Factoring - a kind of trade and commission operations in which cn e fied com pany credits seller about when they run tons of shipment vara transaction sales, purchasing receivables customers and exacting that it yourself.

Risks associated with the specifics of the customer's bank

At its core bank - is a commercial enterprise. The basic principle of relations "Bank - Client" is the principle by obtaining bank profits at a lower cost and the principle of minimization of All kinds of risk. The Bank may in fact risk (and he ri will forge every day in their work) their own capital, but not client's capital and its profits . To minimize the risk the bank should:

* Diversify their customers, leading to diversification fication of all kinds with ka ri, ie its dispersal;

* try to provide loans in the form of smaller amounts of pain to Shem ditional Clieu n Comrade;

* To provide large amounts of clients konsortsionalnoy basis and so

Consider one of the ways to classify the bank's clients, with help of the Torah can be reduced level of all types of banks tion risk.

Kinds of customers in the bank, depending on the belonging to different sectors (industry risk)

According to the theory of risk before a major sign of belonging to the acceptance of a particular industry is the appointment of manufactured products u s. Distinguish primary enterprise sphere, to which of the pre d worn agricultural enterprise, the enterprise sphere secondary (industrial), who with his art on hand, may be to come in and processing, and Nakhon fi , businesses tertiary dimensional sphere, providing a range of services (banks, insurance high, aud and Tor, consulting companies, etc.) and performs its activity guides s completely in sales (wholesale or retail on the go).

Factors influencing the level of industry risk, can be grouped as follows u them education m :

* Alternative industries activities for a certain period of time;

* Intersectoral competition, which may be the price and non-price depends on the complexity and entry of new producers teley the industry, the presence or absence of substitute products, the market power of buyers (consumers), ranking suppliers and intermediaries Cove, benevolent authority contact ay tors.

One of the main ways of measuring the level of rice industry is getting Single P-factor industry (beta coefficients that) `.

This coefficient c ient determines the level of hesitation or deviation tions results Comrade activities and specific industry in relation to the results of the entire market economy country. Obviously, for the analysis of the level of industry risk is needed is a vast database of macroeconomic indicators for dormancy and sufficiently long period of time, just e no.

Branch with exponent coefficient n ienta above unity has bo higher level of risk than the industry with a coefficient below unified boundary. Typically, this analysis is carried out using regression models or about the methods of factor analysis.

In addition, the level of industry risk is dynamic and it is necessary to analyze the level of not only static, but in the din and omy.

At Level of risk for banks in isimosti ra s measure of client

Depending on the size of the enterprise customers are classified into three groups - IU l Kieu, medium and large.

Small and medium-sized loan ni iki more flexible, faster, can Autret ligated to market needs of the client. Their structure is more lightweight, allowing them to quickly change the direction of our business activities, get high pr and profit. Recently in the U.S., for example , the government gives subsidies dissipa Well completely average before facturing engaged in active research, new trends, etc. Get results faster.

But small and medium enterprises are usually small own equity capital, which leads to bankruptcy in the face of fierce competition, some unexpected changes in the political and economic nature (risk of force majeure). Cha one they have a small amount of n Clieu Comrade, do not control large market windows, niches and / or segments.

Therefore, the number of bankruptcies higher for small and medium-sized enterprises. According hundred statistical analysis of American economists usually about 50% of newly established small and medium-sized enterprises go bankrupt C. for a first of s x two years, and ka to rule, no more than 10% of them continued to exist zhayut 7 years after its created and I `.

Large enterprises, on the contrary, are more inert. They do not react quickly removed the changing needs of the market and the specific con sumers. They do not often th e nyayut direction of its business activity STI, but they have significant equity and can "relive" some adverse economic situa tion as well. They have the ability to perform all types of warranty and post-warr tion service, spend more on different kinds of advertising. In other words, they almost always are providing a high profit and profitability. Such enterprises have impact opportunity to create subsidiaries, affiliates, expand their ry knock, turn it in people's Intl.

The relationship between the level of risk to banks and clients belonging to different types of property

As belonging to different types of property produce whether can be divided into the following u s groups - public, private, cooperative in ITATION, stock. The latter two can be compatible (for transnational tional) and Monona n ionalnymi. Depending on the different types of ri with Cove acquire greater or lesser importance in the course of their activities. Objective of the bank is to choose a portfolio of their clients so as to have the most optimal balance between active and passive operas governmental and governmental organizations, to maintain its level of liquidity and cost required to return on to the smooth operation of the level.

For this purpose it is necessary, in our view, to conduct regular analysis of the level of all types of risks, determine their optimal values ??for each of the district to specifically points and use the full range of ways to manage them.


Very important component th generation part strategy ri ska is a bit processing measures to reduce or limit Prevention identified risk. In about society, to describe the action of consequence, to minimize financial risk, used the term hedging.

It is in the development of the main approaches to risk assessment, determination of admissible invertible with its level of development and corresponding sponding strategy is the main cottage and control s ri Scoma.

Consider the most common activities on the Board to reduce the department s tion of species at risk.

One of the main ways to reduce external risks is the selection of the best forms of exercise of their export-import operations u s bank or other banking institutions it.

In practice, the most common are two main forms carried schestvleniya and iCal for External operations:

a) direct, which can be attributed directly th export-import, carried schestvlenie foreign economic relations through various types of intermediaries and corder or through subsidiaries (banks Cove) and a branch in , Investments n ITATION opera u s carried out in this period of business activity hozyays t sponding subject;

b) indirect, including the sale and purchase face n diffusion; implementation tion francheyznyh step d ; conclusion of those n iches com, management of maintenance and service used, the purchase of new technologies and / or "know-how". These forms of e carried interregional and foreign relations are recommended for banks carried stvlyayuschih its activities in high country, the currency (in their home country and the partner country), credit, port felnogo with ri ka.

Limit the impact of these risks on the banking institution is only possible by timely informing each other of changes in circumstances.

Management techniques translational currency risks de divisible by outside of w and internal. They can use in atsya as to define a strategy and tactical programs to develop the activities of banks and bank uchre Well deny.

The external methods include acceleration or deceleration board Jay in foreign currency as of strange to external customers and counterparties, and in respect to t of monopolistic education authority; regulation boards e Jay between the parent bank and its financial AFFILIATES, selecting a more stable currency otfakturirovaniya n about a hundred wok etc.

The strategic plan of protection against currency risk is closely related to the active pricing policy views and the cost of insurance of, the degree of reliability of the insurance companies of both the bank and its counterparties and customers.

Moreover, almost all the major banks are trying to create a portfolio of their communication currency transactions, balancing assets and liabilities by currency and maturity. in basically all external methods management of currency risks are focused on their diversification. For this purpose, the most widely used such SROs h ITATION currency transactions as forward, futures with ITATION, optional (and in the inter bank market, and on the exchanges). Currency sold on an "spot" (with immediate n nym or two-day calculation), "swap" (spot / forward, spot between different banks) or "forward" ("outright" between the bank and the customer);

G. Methods to reduce the currency risk

To minimize currency risk the bank may use the following as e we:

1. The loan in one currency with the condition of repayment in another subject forward rate recorded in the loan agreement. Such measures on Call, lyayut insured bank vatsya from possible devaluation of the currency and that cred.

Assume that the bank gives a loan of 100,000 francs. At the same time, calculated in th weaken the franc against the pound sterling, the bank agreed with the customer can lock in the loan agreement in ka as a condition of the loan repayment in pounds at the forward rate of 10 francs for 1 pound (ie the borrower to repay the loan will require 10,000 lbs.) In this case, the impact of variations are possible three district development that I events:

a) if at the time n of extinguishing the debt on the loan rate and availab vit 10 francs for 1 pound, the bank n about their will obtain the 10,000 pounds, and none of the art of the Parties no losses;

b) if at the time of loan repayment rate will be equal to 12 francs for 1 pound, the bank will receive 10,000 pounds again, while in the case of s gates loan in francs he would with 100,000 francs, which amounted to only 8333.33 pounds ( 100,000 / 12);

c) if at the time the loan rate with 9 puts francs for 1 pound, the bank would be at a loss on how many people were back again 10,000 pounds, while the repayment of the loan in francs he would have 100,000 francs or pounds 11111.11.

2. Forward foreign exchange contracts. This is the main method of lowering the exchange rate risk. Such operations require for Turning term agreements between the bank and the customer on the purchase and sale of foreign currency at a fixed in a transaction amount and agreements forward exchange rate. The mechanism of action of forward currency contracts is similar in principle to that just described. Forward foreign exchange transactions happened w t fixed or option. The term "fixed" means that the transaction must be with vertices in strictly defined n tion day. Option before the same choice client believes the date of its p Board decision: either any day from the date of signing the contract and to the definition of n tion deadline or within kako of any particular period in the bud u u eat. An important condition forwarders d tion contract is bound by its use complements.

However himself forward exchange contract associated with definite l ennym ri with whom. For the bank it is that the client may not be able to s n o lnit its obligations under the contract, in this case, the bank would not FPIC nym sell the currency used by the client in accordance with the contract had to buy or vice versa, to buy currency , which Rui client had to sell. In this purchase (sale) of the corresponding amount of currency in the market can Ober nutsya decreasing t kami for the bank.

3. Currency futures n s contracts. As well as forwarders dnye exchange contracts, futures pre d constitute a with agreements to buy or straight on to det e divided amount of foreign currency at a certain date in the future. About Dr. however unlike forward contracts their conditions may be enough to rev le g of friction. In addition, these contracts can r y t free- on the bottom of the exchange-traded financial futures (eg, Uffe - London Inte rn ational Financial Futures Exchange - London Internat d tion Financial Futures Exchange). However, currency futures n s contracts have not yet received wide ra with the space of f.

4. Currency options. Despite the similarity in name with Fourway p dnymi in Lute and contracts with an option, they are a tool that gives them the right errand, and is (not the obligation) to buy a certain amount of strange wa Institute rency at any particular rate within a limited pe riod of time or After this period. Currency options are of two types:

a) Option "call" gives its buyer the right to buy the currency, specifies n ing contract at a fixed rate (the seller of the option will be to sell the corresponding currency sponding this ky su p).

b) Option "put" gives its buyer the right to sell the currency, Ogove of Rennes th contract, at a fixed rate mu (the seller of the option to buy l wives will respec t sponding currency at this rate).

5. Currency swaps. A currency swap is an agreement between two parties to exchange future payments in lots of different shaft th minute.

Currency swaps can be divided into the following two types:

* Swaps liabilities (obligations);

* swaps assets.

Currency swap liability - this exchange of promises to pay proce n Comrade maturity and wasps n ovnogo debt in one currency for such obligations in other currencies. The purpose of such a swap, in addition . reduce long-term foreign currency When ska, is also reducing costs in connection with the direct and involve tion funds.

Currency swap assets enables parties to the agreement to exchange cash income from an asset (for example, investment) and in one currency to similar to moves in other currencies. This swap is aimed at long-term decline of the currency risk and increase profitability ak tives (investments).

6. Acceleration or delay of payments (leading and lagging). Or h acceleration and support payments used for the implementation of the operations of the foreign shaft w. The bank, in accordance with their expectations of future changes in exchange rates may require its debtors mustache Square or delay payments. This technique used to protect against currency risk or receive e of the gains from currency fluctuations. However, the risk of loss is still present, as it is likely 'wrong before directing legend e of exchange rate changes.

7. Diversification of the bank in foreign currency. This method of e Redeye currency risk involves constant monitoring of yannoe foreign currency fluctuations. And as Mr. and predict likely to reign such oscillations is extremely difficult, the banks to reduce the risk of losing as a result of unfavorable changes in exchange rates have resorted to diversify assets denominated in foreign shaft u ter.

8. Currency risk insurance. Currency risk insurance involves the transfer of theentire risk insurance organization Organization.

Thus, we examined the basic methods of reduction of different rows and in the risk faced by banks in the course of their activities. Discharge and analysis of these events is an essential component of the Bank's strategy in the region used for risk .

In conclusion, it should be noted that all the listed above methods reduce ITATION w eniya or risk aversion are many variations used in z and depending on the spe p is tion situation and agreements with partners. This kind of operation the bank can carry out both for its own account (the pursuit of the goal of reducing the corresponding financial risk or income from th International Sites tained agreements in the case of favorable changes in the market for a conv about tions), and on behalf of customers (speaking with the mediator and getting behind this respec t sponding remuneration denie).

Methods to reduce the market risk

1 . Futures contracts on the sale of securities. They cautioned in lyayut right in their l hell l tsu to buy or straight on with dazhu about Twet Article sponding securities established in advance chickens su. Like other financial futures to n paths, these futures Call, about lyayut "play" on the market value fluctuations STI securities or reduce the risk of losses from such comments e oscillations .

2. Stock options. Stock option - the right to buy or sell a stock (or other price n s traded in the stock exchange) within a specified period.

3. Diversification of the investment portfolio. The most important means of PWM on defense and you impairment securities YaV it possible to diversify the investment portfolio.

To reduce the risk of leasing transactions must develop accelerated depreciation rates or use them early accrual.

To reduce the risk of factoring transactions should analyze the solvency of borrowers, to study the nature of economic relations and mutual mootnosheniya and suppliers, the structure of payments, the competitiveness of direct induction, the number of cases e her return, etc.

When purchasing department factoring bank bills at suppliers pojavl I quired risk of acquiring bronze bills . ( Bronze in e kc e miles - ve ks e miles without them e yuschi th commodity and I covered . )

This prevents the risk of treaty conditions tions and their possible rupture termination payment of bills and the bill at the receivable factoring from ITY e elu with in yshe 3 days after the expiration of the bill. Cha with partially compensation that occurs at higher risk of commission in awarding s bank for such operas as tion.

One of the main ways to measure the level of risk is e analysis of head and pendent and independent, external and internal factor s, which affect in a particular situation, with n of the power method and expert evaluations.

At the board consists of interest rate risk management assets (loans and investments I s) and liabilities (borrowings).

In the reign of assets depends on the liquidity of the banks and Portf e ka la his clients of securities, as well as the degree of su exists competition (price and non-price), and pass control sivami - the availability of funds for the grant of loans. There are several concepts of interest rate risk management:

1. Than the bank's interest margin is higher, the level of interest rate ri ska below. In other words, the margin between the interest d oho d s of assets and interest expense on liabilities should be positive s tion.

2. The concept of "spread", in which analyzes the difference between the weighted average rate earned on assets and the weighted average rate of Noah, and EXECUTE chennoy of liabilities (liabilities). What is the difference between these two values and E is, the uro Wen percentage of risk below. Data for the analysis is usually used e Ruth smiling father of statistical t of a bank.

3. The concept of "gap" (a gap), which is placed on to the analysis nesbalan ing of the bank's assets and liabilities with fixed and melt guide tons per cent on the interest rate. Take the excess of assets with variable u s interest in a hundred Coy over liabilities with a fixed rate in a static or over a lane and no one time e.

At Level of interest rate risk depends on:

* changes in the portfolio (structure) of assets, including the ratio of the values of loans and investments, fixed assets and plans colliding rate dynamite and matches their prices in the market;

* Changes in the structure of liabilities, ie gearing, time and savings deposits, deposits tov "to On demand of a";

* Interest rate dynamics.

In order to monitor and control the level of interest rate risk, pa s oped specific strategy of the bank, depending on the concrete situation to n n s (see Table. № 1).

Ways to control the level of interest rate risk

bank economy risks operation

Table number 1



1. Expected to increase sufficiently accurate low percentage tion Art and wok

Enlarge terms borrowed funds;

Reduce loans with fixed interest hundred in Coy;

Reduce the time of investment;

Sell ??part of the investment (in the form of securities);

obtain long-term loans;

Close some risky lines of credit.

2. Interest rates rise, Waiting and etsya dos tizhenie their peak in bl and nearest-bud at present

Start shortening borrowed funds;

start lengthening the investment;

to begin preparing for an increase in the share of loans with fiksirova Mr. Noah

hundred in Coy;

prepare for an increase in the share of investment in securities boom and gah;

consider the possibility of early repayment of the STI with

fi densed to interest rate;

3. Expected pic voltage sufficiently high interest rates

Shorten the period of borrowings;

increase the share of fixed rate loans;

increase the timing and size of portfolio investments;

open new lines of credit;

4. Interest rates fall, close to m and minima

start lengthening the terms of borrowings;

start reducing the time investment;

increase the proportion of floating rate loans;

reduce investments in securities;

selectively sell assets with a fixed rate or

Doh on the house.

This method of hedging, thus allowing separation pour risk linked with Mr. tion fluctuated and it interest rates kl and entom.

4. Interest futures contracts. They are fixed-term contracts, which are used to play on interest rates. Pr denote like about Futures, interest rate futures are used for speculative functions on I to about le baniyah market interest rates, as well as to cover percent t ri tion with ka.

5. Interest rate options. Interest rate option - with this chapter w ix, which provides the holder of the option the right (but not the obligation) to buy or sell certain financial sovy Institute of Art rument (short-term loan or deposit) in financial costs to densed before or upon the occurrence of a specific date in b y duschem.

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