Study On Pledge-rate Of Warehouse Receipts Pledge Under Credit Rating And Price Volatility

Warehouse receipts pledge is an active logistics financial service which started in China only a few years ago. It can break through the enterprise fund "bottleneck" and revitalize the stock effectively. Also it can greatly increase the survival and development opportunities for SMEs, especially for the production of the manufacturing SMEs. Banks need to further improve the method of business risk control to match the pace of development of warehouse receipts pledge. The pledge-rate is the appropriate key to the Pledge and has an important significance for bank risk control. This paper is to study the factors and calculation methods of the pledge-rate.This paper is based on the research of pledge-rate, the paper focuses on analyzing the risk of warehouse receipts pledge after a brief description of the concept models and functions. Then it proposes a concept of pledge-rate differentiation, and summarizes the factors affecting the pledge-rate, including:the quality of pledge-materials, pledge-materials price, credit level, storage strategy, frequency of marking to market, loan periods and interest rates. Then it identify the pledge-materials price and credit level as the main factors in order to determine the flow of pledge-rate. This paper also proposes a method to measure the credit rating of corporate loans. After established a new target system, it uses fuzzy comprehensive method to get the result of credit rating. At last, this paper makes a function of pledge-rate, which leads to a maximum profit of banks, and also takes the tactic of marking to market into account.This paper provides a new way for the further study on pledge-rate, it helps in-depth understanding of the warehouse receipts pledge business, and contributes to the risk prevention and control of warehouse receipts pledge。...