1、 外文翻译 原文 Intermediate business of commercial banks and the development of intermediate business of commercial banks in China with a comprehensive international comparison Material Source: China Daily. (North American Ed.) New York, N.Y Author: Tobias Adrian First, The middle of a commercial banking
2、business development activity because of 1.1 An inevitable choice for commercial banks Intermediate business of commercial banks and the rapid development of the emergence of the underlying reasons are not only driven, but also the result of external factors. First of all, the international communit
3、y to enter the countries have relaxed controls, the liberalization of banking and international trends, including greatly to the middle of the business, including the pace of financial innovation; Second, market competition has also promoted the development of intermediary business, traditional busi
4、ness of commercial banks not only faced competition in the same industry, and along with the development of capital market countries, greatly increased the proportion of direct financing, the traditional commercial banks assets, liabilities, business increasingly showing a “sunset industry“ the decl
5、ine, therefore, commercial banks were forced to carry out new business innovation to create a new source of profits; again, the middle of business innovation is the result of market demand, due to frequent fluctuations in interest rates and exchange rates, enterprises and commercial banks in which t
6、he uncertainty of economic environment, increasing the risk of which the effective management tools, in particular, a number of financial derivatives had a demand for the development of the banking intermediary business that is risk management in order to satisfy customers, as well as other diversif
7、ied financial services; Finally, the banks have their own advantages, as well as 20 practical information technology since the 80s the development and extensive use of commercial banks for the development of intermediary business possible. February 1987 at Northwestern University in the United State
8、s held a deposit-taking institutions on asset securitization and the risk of development of intermediary business seminar, a scholar on the development of commercial banks in the middle of a large number of business reasons for concluding, that is, commercial banks the development of intermediary bu
9、siness and technology, control, interest rate risk, customer competition, factors such as capital adequacy ratio are closely related. 1.2 The significance of the development of intermediary business (A) Can be extended into a commercial bank intermediary function, to expand their business scale. (B)
10、 Commercial banks can spread business risks, and enhance the banks ability to resist risks. (C) Can play a variety of business, “bundling“ effect to enhance the competitiveness of the banks. Intermediate business of commercial banks between other business interaction and mutual influence, and the de
11、velopment of intermediary business for the banks not only bring direct profits, but also with other business, the second interaction of the market to enhance the competitiveness of banks. Second, commercial banks in the development of intermediary business 2.1 The broader business scope, a wide vari
12、ety. Western countries of the middle-run commercial banks and a wide variety of products to meet the diverse needs of customers, the commercial banks for the new business innovation. The scope of business covered by the middle of the traditional banking, trust services, investment banking, mutual fu
13、nds and insurance business. They can engage in money market operations, but also can engage in discounting commercial paper and capital markets business. 2.2 Gradually expand the business scale of rising income levels. From 1993 to 1996 among the U.S. banking business grew from 912 billion U.S. doll
14、ars to 12.188 trillion U.S. dollars, accounting for bank assets from 78% to 142.9%, of which the seven largest banks in the middle of the business lending per cent more than doubled and more. Living in the forefront of the U.S. banking industry, Citigroup, the Americas, such as the middle of the fiv
15、e major banking groups involved in the operational activities of the total assets of more than 2.2 trillion U.S. dollars has the same period, assets and liabilities that banks under the total assets of 780 billion U.S. dollars for the capital sum for the 45 billion U.S. dollars; intermediary busines
16、s 3 years the average growth rate to 54.2%, much higher than the 9 percent average annual total assets and total capital at an average annual growth rate of 21.6 percent. 2.3 Middle-income structure of the business change. Western commercial banks from 1980 to 1990 of 10 years, the total income of n
17、on-spread revenue rapid upward trend in both. The middle of foreign banks operating income generally accounts for 40% of total revenue -50%. Acceptance in the United States, Citibank, credit investigation, credit rating companies, assets evaluation business, personal financial advisor business, long
18、-term foreign exchange trading, foreign exchange futures, foreign exchange options, and other intermediary business represented 80 percent brought their profits deposit and lending business profits accounted for only 20% of the total profits. 2.4 Service means of advanced and high technology. Improv
19、ement in the level of science and technology for the development of intermediate business of commercial banks to provide a strong foundation for technical support and innovation, especially in recent years can be at any time and any place in any way to provide customers with personalized service net
20、work of banks, the emergence of Internet banking promoted the development of intermediary business. With the international advanced banking payment system on its strong business in the middle was a huge amount of service fee revenue. Third, commercial banks Analysis of intermediate products 3.1 Clea
21、ring-type intermediate products Clearing products are usually divided into promissory notes, bills of exchange, the three types of checks. Settlement of funds between the times of the settlement act, for the customers, the main demand is to use the banking clearing system, security and timely transf
22、er of funds. Settlement is therefore a means of clearing operations to ensure the successful completion of an important link. On the characteristics of the clearing business, its risk may come from three aspects: customer risk factors, risk factors of post and telecommunications sector and banking r
23、isk factors. For the banks, the first two banks of external risks, this is the banks internal risk. 3.2 security type of intermediate products With the development of international trade, the Western commercial banks faster development of the security business, including standby letters of credit, g
24、uarantee the payment, performance bond, bid security, supervision, such as payment by the common varieties. Chinese and foreign commercial banks, the security business is production of the intermediate business with commercial banks to carry out security operations is the use of banks to provide cre
25、dit support that one has to bear because of the risks associated with credit support. 3.3 Intermediate goods Management Mainly divided into the banking business, safe operations, Personal Financial Services. Since the last century is the era, as the worlds financial system, industry structure, organ
26、izational structure, operational modalities and competition is undergoing a profound transformation. The changes in the traditional banking, securities, insurance, and trust business increasingly blurred boundaries between the business, while seeking to promote and strengthen the commercial banking
27、and financial activities of globalization and virtual organizations, the banks of the insurance industry to flourish here development. With the development of the world economy, personal financial services showing a huge space for development. And personal financial services customers of commercial
28、banks is the core personal financial services in the commercial banks to the “financial services supermarket“ the process of development, personal financial services of commercial banks at home and abroad has become the focal point of retail business one. 3.4 Advisory type of intermediate products I
29、ntermediary business consulting category refers to the transfer, sale information and provide intelligence services to the main contents of the intermediary business. Commercial banks on their own information, talent, credibility and other areas, the collection and presentation of information and in
30、formation of these customers, as well as banks and financial analysis of campaign records to form a system of information and programs made available to customers, one to meet their management or business development needs. Include: credit, corporate credit rating, assets evaluation business and fin
31、ancial information; business and personal financial advisor business; business consultant business investment and financing, including financing and the international syndicated loan arrangement. 3.5 bank cards, online banking intermediate products Bank credit card is the issue of commercial banks t
32、o the community with consumer credit, debit settlement, access to cash in whole or in part, such as a credit payment function. Its fast development, many countries have become an important business, many banks and the major source of profit for variety. Internet banking is a banking service to provi
33、de customers with new tools, which the existing banking business, based on the use of Internet technology to provide customers with comprehensive, consent, security, real-time financial services. Internet banking is not only a banking innovation is the organizational structure of a bank. At the same
34、 time, the emergence of Internet banking so that the expansion of commercial banks to find new channels for the middle of the business. Fourth, the middle of the latest developments in the direction of business 4.1 Securitization of credit assets Securitization of credit assets refers to a group of
35、poor liquidity through a portfolio of assets, so that this group of assets to generate stable and predictable cash flow proceeds through the intermediary of certain credit enhancement, the proceeds of these assets the right to change as flows in the financial markets, higher credit rating of bond-ty
36、pe securities. In essence, will be financing the securitization of future cash proceeds of the assets and the corresponding right to transfer the risk to investors, and the transfer of ownership of the assets may not be entirely. 4.2 fund business A long time, Chinas commercial banks to develop inte
37、rmediary business not as a main industry and the new profit growth point to run, but also our countrys strict separation of management and other factors, so that the development of the banking sector has been greater restrictions. A direct consequence of these restrictions is that domestic commercia
38、l banks and weak financial innovation. Have been carried out in the middle of the retail business of the development of varieties, not to profit maximization as the goal, but as absorbing as a means of customer deposits, which resulted in business receipts in the middle of the contribution rate for
39、banks with low profit situation. Commercial banks in Chinas current total income, the proportion of all interest income more than 90%. This revenue structure is to enable the assets of Chinas commercial banks profitability in the last century since the 90s have been in a continuous downward trend in
40、 one of the main reasons. Studies have shown that commercial banks in the U.S. the average asset profit rate of Chinas four state-owned commercial banks average of 12.86 times. This shows that the middle of my business cards, many types of projects though, but their purpose and profit with the situa
41、tion in Western developed countries, significant differences between the modern commercial banking business and a lot of content has yet to enter our field of vision. Fifth, Chinas commercial banks lag in the middle of the reasons for business development 5.1 on the traditional state-owned commercia
42、l businesses, as well as the long-term monopoly control of the central banks interest rates led directly to commercial banks to create a modern inadequate. From abroad, the development of banking business, the increasingly intensified competition in the market forces and customers is to continuously
43、 strengthen the bank to speed up the expansion of the main reasons for non-margin business. Chinas banking industry from the historical path of development; the historical factors strangle a certain extent, the domestic commercial banks to expand their business and the autonomy of consciousness. “Un
44、ification“ of thinking, as well as the banking system more rigid domestic commercial banks used to make the governments command, the lack of response to the economic situation to customers and the market as guide, based on the formulation and implementation of their own advantages for their own deve
45、lopment strategies of motivation and ability. 5.2 The development of intermediate business of commercial banks led to a substantial risk of financial regulation will make the existing system is facing tremendous pressure. The financial sector at the policy orientation of business limits the room for
46、 the development of intermediary business. Most of the middle of the business belonging to banks and non-bank financial institutions operating in the field of cross-cutting, so inuring the states macroeconomic management policies of banks, non-bank financial institutions, the limited scope of busine
47、ss directly determines the intermediate business of commercial banks to open up space. I started in 1993 from banking, securities, insurance, trust the strict separation of management, the banks can not create a cross-sect oral, comprehensive, multi-faceted business intermediate products, and it is
48、difficult to raise the level of business and level of intensive. 5.3 Bank charges among the business and the lack of standardization. In the absence of corresponding fees and charges based mechanism, the intermediary business difficult and hard to charge fees, particularly the phenomenon of table. C
49、harges not specifically reflected in the financial institutions among the business no express provision charges. Difficult to charge in fees and charges due to lack of enforcement mechanism, financial institutions are afraid of arbitrary collection of charges the suspect. 5.4 Chinas banking industry has developed the “marketing model“ and the “marketing habit“ has severely constrained the development of intermediary business. From foreign banks to expand business model point of view, primarily by the consumer to facilitate this, fast, saf
