要篇

銀行家論壇 70 規(guī)范同業(yè)業(yè)務(wù) 探討經(jīng)營之道 “6.20風(fēng)波”暴露出商業(yè)銀行同業(yè)業(yè)務(wù)的過快膨脹，同業(yè)業(yè)務(wù)作為金融創(chuàng)新產(chǎn)物快速發(fā)展的同時(shí)，監(jiān)管政策沒有及時(shí)跟上創(chuàng)新的步伐。本次銀行家論壇探討同業(yè)業(yè)務(wù)的創(chuàng)新途徑和機(jī)制，防范風(fēng)險(xiǎn)的發(fā)生，尋求正確的發(fā)展方向。 Standardize Interbank Business Explore Business Management "6.20 turmoil" revealed the problem that commercial banks interbank business expanded too fast. Interbank business is a product of financial innovation which needs updated regulation， or it would lead to enormous risk. Therefore， it is badly in need of standardizing interbank business， exploring innovative approaches and mechanisms of interbank operation， preventing the potential risk and seeking the right direction. 宏觀經(jīng)濟(jì) 48 產(chǎn)業(yè)結(jié)構(gòu)調(diào)整與地方政府債務(wù)風(fēng)險(xiǎn)/安國俊 林蘇陽 2013年爆發(fā)的底特律破產(chǎn)案，讓我們得以深入了解一個(gè)城市是如何陷入債務(wù)違約困境的現(xiàn)實(shí)。本文通過對比兩個(gè)相似產(chǎn)業(yè)格局的美國城市的發(fā)展現(xiàn)實(shí)，探討地方產(chǎn)業(yè)結(jié)構(gòu)調(diào)整對地方政府債務(wù)風(fēng)險(xiǎn)管理的影響。

Industrial Structure Adjustment and Debt Risk of Local Government In 2013. Detroit bankruptcy has broken out， which allows us to develop a further insight into how a city falls into the plight of debt default. This paper compares the development of two American cities with similar industrial pattern， and explores the impact of the local industrial structure adjustment on the local government debt risk management.

商業(yè)銀行 54 嚴(yán)格防控保證擔(dān)保項(xiàng)下的融資風(fēng)險(xiǎn) /魏國雄 保證擔(dān)保是商業(yè)銀行常用的一種融資風(fēng)險(xiǎn)緩釋工具，在融資決策和風(fēng)險(xiǎn)管理中有著十分重要的作用。其情況比較復(fù)雜，風(fēng)險(xiǎn)識別難度較大，還具有放大信用倍數(shù)，增加杠桿率的作用。在中國銀行業(yè)連續(xù)7個(gè)季度的不良貸款上升中，保證擔(dān)保項(xiàng)下的貸款劣變占比較高，不得不引起銀行業(yè)的重視。

Strictly Control Financing Risk under Guarantee Guarantee is commonly used as a financing risk release tool by commercial banks， which plays a very important role in financing decisions and risk management. It has several characters： fairly complex application situation， difficult risk identification， credit magnifying effect and leveraging. For the seven consecutive quarters of rising non-performing loans of China's banking sector， the deterioration of guarantee loans under guarantee is relatively high and has drawn the banking industrys attention.

全球視線 79 證券化：國際經(jīng)驗(yàn)與國內(nèi)實(shí)踐 /劉聰 姚秋 次貸危機(jī)之后，美國證券化市場發(fā)展減速，歐洲證券化發(fā)展嚴(yán)重放緩，至今未見起色。中國證券化的道路也并不平坦。本文從介紹國際證券化發(fā)展經(jīng)驗(yàn)出發(fā)，結(jié)合中國實(shí)際，對商業(yè)銀行發(fā)展證券化業(yè)務(wù)給予建議。

Securitization： International Experience and Domestic Practice After the subprime mortgage crisis， securitization slows down in US as well as in Europe without any sign of rebound. China's securitization also develops with great difficulty. By combining the experience of international securitization with the reality of China， this paper gives advice to commercial banks on the securitization business.