Risk Management Research Onnon-Financial Debt Underwriting Of Commercial Banks

Bond market as an important part of the financial markets, is including the issuance of the bonds market and the market for investment and financing to provide a low-risk investment and financing platform. Given the importance of the bond market, governments have to give them some domestic bond market regulation, but in the manner and intensity of regulation, the countries there are also some differences. In our country, the current taken management system is the co-regulatory management system. Meanwhile, China's such a system is in a particular historical conditions, there are objective reasons for its existence, which promote the development of China's bond market, bond market to maintain stability plays an important role, but there are some problems.The rapid development of China's direct financing market, product categories, while continuing the rich, from the beginning of the market in 2012 it has been found in more than credit risk events, and finally, by balancing the interests of all parties, without exception, have to pay the government ended, Subsequently, the market demands to break the bonds were "no default" situation demands more and more. March 4,2014, as a result of solar ultra-day Shanghai has run into a serious crisis, was forced to admit that on the same day in the evening that it has not scheduled a full second term bond interest payment due soon, the interest on the total amount of 89.80 million, interest on the company explained in a statement the company currently paid only 4 million. This is only this, "ultra-day debt" event of default may be regarded as a first starting material breach of the bond in the history of the event, the company's statement also declared the country has long been difficult to break the rigidity of cash and government reveal all the details of shattered. Although the "ultra-day debt" event of default has not occurred in the inter-bank bond market, but its investors and bond underwriting banks have a great sense of caution, the event ended the myth of China's bond market development in the long perspective, which has a very good role in promoting the healthy development of China's bond market. Faced with the new normal bond defaults, commercial banks should quickly adjust their development strategies, improve risk identification and control, strengthen the non-financial corporate debt financing business risk management is imperative.This paper summarizes the basis of domestic and international risk management experience, combined with the bond underwriting business in China's banking industry in the actual development, by using fishbone diagram method and the Delphi method for China's banking sector to carry out non-financial corporate debt financing underwriting main identify risk factors and establish a complete risk analysis and evaluation system of non-financial corporate debt financing underwriting business, and then give a comprehensive evaluation index system of risk weighting of risk factors through the use of heavy AHP and fuzzy comprehensive evaluation method, and then the business comprehensive evaluation of the overall risk types. For the evaluation results, the non-financial corporate debt financing viable underwriting risk management measures.Through research, we believe that the risk of non-financial bonds to do the control key to do the work of three. First, strict issuers access pass. Client screening programs should pay attention to the marketing phase reference national policy guidance and access management requirements of commercial banks to develop targeted marketing campaigns. In the line of the audit phase of the project, should also maintain a customer relationship with department approval of the competent authorities and risk departments were involved, so that customer information to understand the business qualification examination and assessment of the credit risk of the operating mode of the Trinity. Meanwhile, commercial banks should establish internal classification and approval system, namely business originating bank, provincial bank branches, the head office of three audits. The second is to establish process control release phase. Issuer admission interviews, effectively improve the quality of registration issued to submit material. If you need to upgrade the credit rating of the issuer by way of a credit promotion, the commercial banks to the Issuer and third party credit agencies should also enhance access to appropriate review mechanisms established. Third, the ongoing risk management. Commercial banks should establish a follow-up to the management of debt financing system, the head office, branches and provincial business launch line should strengthen awareness and subsequent management of risk awareness, establish and improve management report follow-up system.