| In recent years, commercial bank bill businesses developed rapidly, becoming the major method of commercial banks acquiring great profits and the main means of enterprises building up short-term capital. The main reason for this is that our capital market is underdeveloped, the bill businesses alleviate corporates financial difficult for some degree and meet the profit targets and regulatory diversification needs of commercial banks as well, attracting commercial banks and enterprises to deals with the different bill businesses in violation of rules and regulations without hesitate, However, with the rapid development of bill businesses, the risk is also increasing. On the one hand, the actions of main members of bill market are not regulate and there are a lot of irregularities, the bill businesses are faced huge credit risk and operational risk, on the other hand, as China's financial market reform is deepening, particularly, with the advance of interest rate market, the interest rate risk is becoming a major market risk of bill businesses.Risk is an objective existence, the correct attitude toward risk is proactive risk management. Only in basis of risk identification, measurement, can risk be handled and resolved to some degree scientificly. VaR is the mainstream risk measurement method of financial market risks, which overcome the deficiencies of traditional methods of measuring risk, many financial institutions have been applied. This article is based on VaR risk measurement model and analyses various risks of commercial bank bill businesses facing and the reasons, and reaserchs the interest rate risks and the credit risks and the operating risks of bill businesses on both theory and empirical studying.The content is divided into four study sections, from the basic theory of bill businesses the first introduces bills, notes acts and basic risk management knowledge of the bill market, in order to make this paper have a rich theoretical basis.Secondly,... |
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