Microcosmic financial efficiency is its demand factor , and magnificent financial efficiency is its supply factor . concretely , credit derivatives have been promoting the efficiency of financial institution such as commercial bank and institution invertors , the efficiency of financial market , and the financial efficiency of regulation and supervision 微观金融效率是信用衍生品的需求要素,而中观、宏观金融效率则是其供给要素,并且政府在考虑是否提供信用衍生品制度时,主要考虑其宏观金融效率及其实现。
Commercial banks must be stress the emphases on the prevention of listed companies ’ illegal guarantee ’ risk , based on the restriction factors of commercial banks guard against listed companies ’ illegal guarantee ’ risk , the thesis pointed out that commercial banks need to establish listed companies ’ illegal guarantee ’ risk early warning systems , establish risk - adjusted performance assessing system , strengthen the internal audit , pay close attention to the changes of state laws and regulations , active participation in international credit derivatives transactions can effectively prevent listed companies ’ illegal guarantee ’ 上市公司违规担保风险重在预防,本论文就我国商业银行目前制约其预防上市公司违规担保风险能力的影响因素的分析基础之上,指出商业银行必须建立上市公司违规担保风险预警系统、建立以风险为核心的绩效考核制度、加强内部审计、密切关注国家法律法规的变化、积极参与国际信用衍生品市场交易才能有效地预防上市公司违规担保风险。
Precision pricing credit derivatives is its one of preconditions of exertion of efficiency of financial . pricing credit derivatives must at first choose the measure model of credit loss , default model of credit event , the model of rate of recovery payments and the uncertainty of mean of default rate . second , it is critic to choose one of structural model , intensity model and hybrid model for pricing credit derivatives 合理定价信用衍生品是其发挥金融效率的前提之一,定价信用衍生品必须首先考虑信用损失的计量范式、信用事件的违约范式、残值率的模型化方式和违约率均值的不确定性等方面;其次,还要确定具体的定价模型方式:结构化模型、强度模型或"杂合方式" 。