The Apply Research Of The Credit Derivatives In Our Commercial Banks

Among the risks of bank,the credit risk is the most important one to avoid.In addition,with the appearance of bond risk and real estate loan risk and rubbish bond and something like this in developing countries,people begin to doubt the traditional credit risk management instruments.Under the background and with themselves'advantages,credit derivatives are emerging.The theory research departments and commercial banks of foreign countries have already study credit derivatives deeply.But the study is still in the first step in China.The thesis uses standard analysis measure,and the aim is to add something to the field of credit risk management. The paper begins with the connotation and characteristics of credit risk.Through analyzing the traditional credit risk management methods the article introduces credit derivatives.There are many major credit derivatives types such as credit default swap,total return swap,credit default options,credit spread options and credit-linked note and so on.The paper brings forward macro and micro management methods after analyzing credit derivatives'practices in west countries and the new risks during their practice period,combined with China's macro and micro actual situation.Finally the paper brings forward three optional models:launch credit derivatives trade between domestic banks,launch credit derivatives between banks and institution investors,launch credit derivatives between foreign banks and foreigh investors.The thesis analyses credit derivatives's practices in west countries innovately.Combined with China's specific situation ,the article analyse credit derivatives'use future and feasible optional models in China deeply.