金融学院知识库

上个世纪80年代以来，西方商业银行表外业务以惊人的速度迅速膨胀，特别是全球金融衍生品市场（场内与场外市场）的蓬勃发展，使得以金融衍生品业务为重要组成部分的商业银行表外业务迅猛发展。花旗、美洲等28家国际知名大型商业银行的表外业务份额已经从1982年的48.5%，上升到了1998年的76.8%；日本商业银行近年来表外业务以年均40%的速度递增；德国商业银行通过表外业务获得的利润占总利润的45%以上；瑞士银行的表外业务盈利占总盈利的60%～70%。这些都说明表外业务正逐渐成为国际知名商业银行的主要利润增长点，未来发展前景不可小觑。
商业银行表外业务有利于自身增加收入、分散风险、提高自身核心竞争力，同时还可以满足经济主体日益增加的金融服务需求，提高货币资金的配置效率。目前，国际和国内公认的表外业务包括三大类，分别为担保类业务、承诺类业务及金融衍生品交易类业务。而金融衍生品交易类业务在表外业务中起着举足轻重的作用。金融衍生品业务是指商业银行为满足客户保值及自身头寸管理等需要进行的货币和利率的远期、掉期、期权等衍生交易业务。当前国际商业银行参与的主要衍生工具包括场外交易的远期利率协议、货币互换等，以及场内交易的外汇期货及期权、利率期货及期权、指数期货及期权，黄金、石油等各种商品期货及期权交易。
通过研究，论文基于对我国商业银行的金融衍生品发展状况和国际金融衍生品发展现状进行整体的把握，结合中行原油宝事件的案例分析，采用了比较分析法、文献分析法以及案例分析法，认为错误估计当前的市场情况、原油宝产品本事设计缺陷、风险补偿机制不健全、交易时间不连续、世界金融环境动荡等是造成中国银行原油宝事件的主要原因。针对上述状况，论文从多个层面，为我国商业银行金融衍生品风险管理提出了对策建议。

With the development of my country's social economy, the diversified investment needs of Chinese investors are increasing, and bank wealth management products are also innovating. A variety of derivatives transactions used by commercial banks in my country include over-the-counter forward interest rate agreements, currency swaps, etc., as well as exchange-traded foreign exchange futures and options, interest rate futures and options, index futures and options, gold, oil, etc. A variety of commodity futures and options trading. And financial derivatives trading business plays a pivotal role in it. The research in this article is not traditional financial derivatives trading business, but commodity trading business linked to foreign commodity exchange WTI crude oil futures. Because crude oil prices are greatly affected by geopolitics, economic development, emergencies, and international policies, It often fluctuates greatly, and the decline in negative oil prices this time is the root cause of the crude oil treasure incident.
This article mainly analyzes the types and characteristics of my country's commercial bank transaction derivative financial investment products through the Bank of China crude oil treasure incident, and compares and analyzes the structured wealth management products of commercial banks, focusing on the product design and risk types of crude oil treasure wealth management products , Internal defects, etc., and analyzed the risk management, risk control, and investor risk tolerance of crude oil treasure, a non-hedging financial product that can be traded in both directions.
Through research, the thesis is based on the overall grasp of the development status of financial derivatives of my country’s commercial banks and the development status of international financial derivatives, combined with the case analysis of the Bank of China Crude Oil Treasure incident, using comparative analysis, literature analysis and case analysis. It is believed that incorrect estimation of current market conditions, design defects of crude oil treasure products, imperfect risk compensation mechanism, discontinuous trading hours, and turbulence in the world financial environment are the main reasons for the Bank of China crude oil treasure incident. In response to the above situation, the thesis proposes countermeasures and suggestions for the financial derivatives risk management of commercial banks in our country from multiple levels.