利率市场化与我国国有商业银行对策.doc

利率市场化与我国国有商业银行对策The interest rate in market and the strategy of our commercial bank in China利率市场化是中国金融体制改革的一项重要内容。随着中国金融市场的开放以及外资银行抢滩中国市场的深入，国有商业银行如何面对利率市场化的挑战，充分利用国际分工，积极参与国际金融竞争, 以适应国际经济、金融一体化的要求, 成为商业银行需要认真研究的课题。The interest rate in market is an important content in reforming Chinese banking system。As the public access of the Chinese banking market and the robbing Chinese market of the foreign capital bank in depth，The Chinese commercial bank how to face the challenge of the interest rate in market，to exploit the international division of labor adequately，to participate in the challenge with the international finance，and to suit the requests of the international economy and finance in an organic whole，all become a topic that commercial banks need to study hard。什么是利率市场化所谓利率市场化，是指金融市场资金供求双方自主确定利率水平的利率决定机制的变迁过程。具体讲，利率市场化是指中央银行根据货币政策的需要调控基准利率，各商业银行根据资金市场的供求变化自主调节存贷款利率，最终形成以中央银行基准利率为引导，多层次、能够充分体现资金供求状况和反映中央银行货币政策意图的利率运行机制。利率市场化强调利率真实地反映资金成本与供求关系，灵活有效地发挥其经济杠杆作用What is the interest rate in market ？ The interest rate in market is the changing process that both sides of supply and demand of fund in finance market decide the interest level for themselves as a system 。 That is ，the interest rate in market is a system of the interest rate in motion that the center bank adjusts the standard interest rate according to the need of currency policy，every commercial bank adjusts the interest rate of bank savings and loan for themselves according to the change of supply and demand in fund market，finally ，to form that leading according to the interest rate of the center bank，many administrative levels，representing supply and demand of fund and the currency policy of the center bank adequately。The interest rate in market accentuates that the interest rate reflects the relationship of fund cost and supply and demand truly，elaborates the affect of economical lever elastic and effectively。 一、我国利率市场化的现状相对于中国经济改革和对外开放的整体步伐而言，利率市场化改革进展较慢。就目前情况看，我国尚未完全实现利率市场化，利率管制造成利率这一重要的价格杠杆在资源配置方面的作用受到严重约束，利率结构扭曲。我国利率体系的市场化程度还比较低，主要表现在以下几个方面：Firstly、The present situation of our interest rate in market In opposition to the whole steps of economy reformation and opening up for foreign in China，the progress of reforming the interest rate in market is slow。Now，our country does nt the interest rate in market completely，controlling interest rate causes that the affect the interest rate price lever deploys resources is repressed hardly，the composition of interest rate is out of shape。Our interest rate in market is just low ，mainly in the several sides：1利率管制程度高，利率水平和结构不尽合理，银行自主性受到限制。当前我国利率政策的运行环境以管制利率为主，利率水平的决定、差别利率政策的制订等有关利率的各个方面的政策都由政府严格控制，表现出高度的计划性和封闭性。1:The level of controlling interest rate is high ,the level and composition of interest rate arent reasonable, the autonomy of bank is limited .Now our environment to be in motion of interest rate is mainly controlled, all kinds of policy about decision interest rate level and formulating interest rate policy of difference is controlled by the government strictly , shows high plan and closed.2利率水平的确定带有一定的主观盲目性，利率调整的灵活度不够。目前我国利率水平的决定是由货币政策委员会作出的，利率决策权高度集中于中央政府，利率的制定和调整存在着严重的时滞效应。2.The decision of interest rate level is blindness surely, the flexibility of adjusting interest rate is not enough. Now our decision of interest rate level is decided by The committee of fund policy , the legal right of interest rate decision is centralized by the center government highly, the decision and adjusting of interest rate is highly delayed .3缺乏有效的市场基准利率。2003 年11 月1 日，全国人大常委会副委员长成思危在一次论坛上指出：“ 利率市场化的关键是确定基准利率。这个基准利率确定后，才能确定利率结构、风险结构。没有基准利率的确立，利率市场化就是一句空话。”基准利率在整个利率体系中起核心作用并能制约其他利率，从某种意义上说，基准利率的选择和确定是利率市场化改革的核心步骤。3.Short of effective standard interest rate in market .Nov,1st ,2003, Cheng si wei the secondary chairman of the representing people constant committee in the whole country pointed out in one forum :the key to interest rate in market is decision of standard interest rate. After the decision of the standard interest rate ,we can decide the composition of interest rate and risks. without the decision of standard interest rate, interest rate in market is hollow words. The standard interest rate plays a center part in the whole interest rate system and can restrict other interest rate, in some meaning, the selection and decision of standard interest rate is the center steps of interest rate reformation in market .二、国有商业银行利率市场化存在的问题（一）资产和负债的结构单一国有商业银行的资产结构单一，除存款准备金与备付金外,绝大部分为贷款资产。在负债总量中，资金来源的95%依靠吸收各种存款。对利率敏感性较大，搭配极不合理，银行净利差波动较大。Secondly,the problem of interest rate in market in the Chinese commercial bank (1) The composition of assets and liabilities are singleThe assets composition of the Chinese commercial bank is single, without bank deposit preparing fund and preparing fund , mainly is loan assets. In the overall in debt 95% origin of fund is relied on all kinds of bank deposit . The sensitivity to interest rate is just big, the collocation is not sensible, the undulation of bank net profit difference is just big.（二）业务与收入结构不合理主要表现在两个方面：一是仍以传统存贷款业务为主，利息收入所占比重较大；二是中间业务品种少，档次低，科技含量不高。从以下数字看出，2001年四大国有商业银行中间业务平均占比仅为8.5%，2002年，建设银行实现中间业务收入43.7亿元，占总收入的12.3%；工商银行实现中间业务收入50亿元，约占总收入的5%。虽然2002年中国银行的中间业务收入有所增长,但和国际银行业务相比还是低得多。与此同时，国内商业银行的赢利状况中，利息收入平均占总收入的七成左右，基层一、二级分行占比更高，不少达90%以上。即使在占比低的中间业务中，业务品种也非常单一。主要表现为一些筹资功能较强，操作简单的代理类业务以及跟单信用证、银行承兑汇票等与贸易相关的业务，而那些以为市场提供智力服务并从中收取手续费为主的业务相对较少，不少基层行甚至还未介入。(2) The composition of business and income is not sensible Mainly in two sides：First is mainly in bank savings and loan business of traditions ，specific gravity of interest income is big ；Second is middle business breed is less，low level ， the content of science and technology is not high 。These numerals seem，in 2001 the four Chinese commercial banks middle business divines only 8.5% equally，in 2002，construction banks middle business income 43.7 billion Yuan ，divines 12.3% in whole income；Industrial and commercial banks middle business income 50 billion Yuan ，about divines 5% in whole income 。In 2002 Chinese banks middle business income goes up ，but lower than international bank business。At the same time ，in the profit condition of Chinese commercial bank ，interest income divines about 70% in whole income ，first、second branch of bank of the basic level divines much ，more above 90%。Even in the middle business that divines lowly ，business breed is also single 。Mainly in the represented business that prepares much money and operated simply and the business that heel credit certificate、bank exchanges check which about trade，but the business that procedures expenses comes from the intelligence work for market is less，some bank of the basic level is out。 （三）利率水平和利率结构不合理利率水平和利率结构不合理主要表现在：利率水平处于历史最低点，存贷款利差不断缩小。政府采取低利率政策，目的是维持宽松货币环境以促进经济增长但适得其反，不仅个人储蓄没有大量流失，相反个人储蓄在去年以18%的速度增长；利率管制导致银行利差缩小，尽管农村信用社贷款利率浮动40%50 %，但利差也仅五个百分点左右，这不仅抑制了商业银行发放贷款的冲动，而且还使商业银行经营活动的盈利性、安全性和流动性受到较大影响。（3）The level of interest rate and the composition of interest rate is not sensible The level of interest rate and the composition of interest rate is not sensible ，that is mainly in：The level of interest rate is the lowest in history，the difference of bank deposit and loan is reduced continuously。The government take the policy of low interest rate ，the purpose is to keep relaxed currency environment to increase economy ，but on the other ，the personal savings do not run off much ，on the other ，the personal savings increase at 18% last year；Controlling interest rate leads the difference of bank s income reduced，though the credit union of the countryside s loan interest rate is between with 40%50 %，but the difference of income is only 5%，this not only restrains the impulse that commercial bank provide loan ，but also effects commercial bank s profit、safety and circulating largely。（四）利率浮动权限受到严格管制,利率运用缺乏机动性和灵活性由于受到中央银行利率管制的影响，商业银行的存款利率定价理念淡薄，缺乏存款利率定价机制研究的动力。在实际操作中,商业银行只是被动按既定的利率执行，难以考虑成本与效益；贷款利率定价既缺乏科学性，也缺乏弹性。（4）The limits of authority of interest rate fluctuation is controlled strictly，the application of interest rate is short of mobility and flexibility As a result of the influence of controlling interest rate by the center bank ，the concept that commercial bank makes a price of bank deposit interest rate is thin，is short of the research motive power making a price of bank deposit interest rate。In practice，commercial bank just carries out as the decided interest rate passively，is difficult to think about the cost and benefit；Making a price of bank deposit interest rate is short of scientific knowledge ，also elasticity。三、国有商业银行适应利率市场化改革的对策随着利率市场化的推进，利率对国有商业银行的影响越来越大，在此情况下，国有商业银行应积极寻求应对策略。1.建立金融产品定价体系。在利率市场化的情况下，商业银行能否制订一个科学合理的定价体系，具备灵活有效的报价能力，实现风险 收益之间的平衡，是其能否持续发展的关键。在这个过程中，要建立有效的综合收益测算体系，综合考虑客户对商业银行带来的综合收益，客户的信用风险大小，贷款期限的长短即利率风险大小，以及商业银行的筹集资金成本和运营成本的分摊等方面的问题。Tirdly、The strategy our commercial bank in China to get with the interest rate in market reformationAs to advance the interest rate in market，the interest rate effects our commercial bank in China more and more largely，so，our commercial bank in China should look for the strategy。1To set up a system of making a price of finance products。As the interest rate in market，commercial bank will be develop continued or not is the key that can make a scientific and reasonable system of making a price，has the ability of informing price elastic and effectively ，make the balance between risks and receiving benefit。In the process，we should set up effective and synthetic system of reckoning receiving benefit ，think over synthetic receiving benefit which customer give to commercial bank，the proportions of customer s credibility risks ，the length of loan deadline or interest rate risks，and the cost of commercial bank raising fund and the problem sharing the expenses of the cost in motion，etc。2.增加中间业务产品开发能力，调整利润结构。利率市场化后，银行存、贷款利差缩小，利润水平降低，这就要求国有商业银行必须大力发展中间业务。银行可在积极拓展代收、代付等业务的同时，充分利用商业银行市场主体资格，积极为其他金融机构提供代理发行债券、银证转帐、代理保险、基金托管、代客理财、资产管理、财务顾问、投资咨询等，提高中间业务收人，积极主动地开发低风险、高收益的中间业务新品种，以此大幅度提升银行的盈利能力，促进银行可持续发展。2To increase the ability of exploiting middle business products，adjust the composition of profit。After the interest rate in market，the difference of bank deposit and loan is reduced ，the level of profit is lowed ，so our commercial bank in China must develop middle business hardly 。Bank develops the business of taking the place of receiving and paying actively ，also uses independent character of our commercial bank in China adequately，supplies for the other finance organization with taking the place of issuing bond、stocks and bonds transferring accounts、taking the place of insurance、trusteeship of fund、taking the place of managing money、assets management、adviser of financial affairs、in consultation with investment ，etc actively，increases the middle business income ，develops new middle business products of low risks and high receiving benefit actively，to promote the profit-making ability of bank substantially，to promote bank to develop continuously。（三）分阶段推进利率市场化第一步，从目前我国宏观经济的态势来看，经济发展速度虽然较快，但有效需求不足，货币政策的传导机制不灵，可以先放开贷款利率，如流动资金贷款利率，一年后将贷款利率全部放开; （3）To advance the interest rate in market by phaseFirstly，now the situation of our macroscopic economy seems that the velocity of economy developing is big ，but the effective demand is not enough ，the transmitting machine-processed of money policy is not effective，so let the loan interest rate free first ，such as circulating fund interest rate， after a year let the loan interest rate free totally；第二步，根据贷款利率放开情况，将部分长期存款利率放开，如一年期储蓄存款，协定对公存款等；第三步，由中央银行总结经验，解决存在的问题后，将利率全面放开，即2005年实现利率市场化，与国际接轨。Secondly，according to the circumstances letting the loan interest rate free ，let long-range bank deposit in part free，such as one-year savings，an agreement public savings etc；Thirdly，the center bank sums up experience，to solve the being problem ，let the interest rate free totally，in 2005 let the interest rate in market，to connect international。（四）强化全面成本管理，积极处置不良资产第一，强化利率成本管理。存款利率的提高意味着银行成本的上升，贷款利率的降低意味着银行收入的减少。面对利率市场化，国有商业银行要做好利率定价工作，增强利率的效益意识,把利率政策管理与经营效益紧密结合，提高利率管理水平；（4）To strengthen the total cost management ，to deal with bad assets activelyFirstly，to strengthen the interest rate cost management。To raise bank deposit interest rate is to raise the bank cost，to lower the loan interest rate is to lower the bank income 。Face the interest rate in market，our commercial bank in China should work for making a price of interest rate，to strengthen consciousness of interest rate benefit，to combine the interest rate policy management and managing benefit tightly，to raise the level of interest rate management；第二，严格控制营业费用支出。坚持量入为出、以收定支原则，将员工的劳动报酬与个人业绩、物质奖励与精神激励结合起来，防止人工费用任意扩大；第三，成立专门的不良资产清收部门集中清理处置不良贷款。不良资产清收部门的职责权限必须明确实行独立考核；Secondly，to control the expenses expenditure on business strictly。Put the principles that to exit according to enter，to prop up according to gather，to combine the employeesrewards and the personal triumph and the matter reward and the spirit excitation，to prevent the man-made expenses to enlarge wantonly；Thirdly ，to establish specialized department of clearing bad assets to clear bad loan。To check the departmentduty and limits of authority of clearing bad assets carefully and independently is a must；第四，积极探索不良资产的有效处置方法和手段，提高不良资产清收成效。Fourthly，to explore the effective way and means for clearing bad assets actively，to raise the effects to clear bad assets。 （五）建立利率风险预警系统，创新规避利率风险的金融工具第一，制定和落实利率风险管理的岗位责任制，明确分工，各司其责，加强利率风险管理职责履行情况的监督和检查。（5）To establish a system of interest rate risks in advance，to innovate the finance tool evading interest rate risksFirstly，to establish and carry out the system of post responsibility of interest rate risks management，to make division of labor definite，everyone do his job，to strengthen to oversee and check the circumstances