A Study Of Information Disclosure Quality Of The China’s Credit Risk Mitigants

Since the1990s, With financial globalization trends and the volatility of thefinancial markets intensified, national banks and investors by the unprecedentedchallenges of the credit risk. Credit derivatives originated in the1990s and thehigh-speed development in the past ten years, and quickly became the fastest growingand one of the most innovative financial products in the international financialmarkets.October29,2010, the inter-bank market Dealers Association released theGuidelines for the inter-bank market and credit risk mitigation instruments pilotbusiness "(hereinafter referred to as the " Guidelines "), which marked China’s creditrisk mitigation instruments (CRW) pilot business officially launched in theinter-bank bond market. Credit risk mitigation tool (CRM) is the credit riskmitigation contracts, credit risk mitigation certificates and other simple basic creditderivatives used to manage credit risk.As a means of risk management, theimplementation of the CRW is conducive to improve the risk-sharing mechanisms onthe country’s financial market, maintain market stability. The launch of the CRW,the completeness of the information disclosure system of the country’s financialmarket and regulatory effectiveness of proposed higher requirements, it is necessaryto carry out an in-depth study of the information disclosure system of credit riskmitigation tools, learn from foreign advanced ideas and practical experienceinformation disclosure system, to further improve the market of credit risk mitigationinstruments, to escort through continuous optimization of the institutionalenvironment for the market healthy and sustainable development.From both theoretical and practical aspects of disclosure of information on creditrisk mitigation tool market research, analysis of information disclosure status ofcredit risk mitigation instruments at home and abroad and compared, summed up thecharacteristics and influencing factors of information disclosure of credit riskmitigation instruments.And try to build the index evaluation system of informationdisclosure of credit risk mitigation instruments to measure the level of informationdisclosure stage of China’s credit risk mitigation instruments market, the differencebetween the quality of information disclosure in the comparison of different dealers,so as to improve our credit risk mitigation instruments market information disclosure system operability strengthened recommendations to guard against the risks offinancial derivatives, to maintain the stability of the country’s financial market, andpromote the reform of China’s financial system...