Financial Products Of Commercial Banks Under The New Management Regulations Research On Pricing And Innovation

On April 28,2018,the pedestrian,the CSRC,silver circ jointly issued the "on a standard financial institutions in the asset management business guidelines"(hereinafter referred to as the "new rules" or "information technology new rules"),in accordance with the unified the type of asset management products and services the whole of the information technology industry regulatory policy and caliber,opened a new era to information technology industry competition.It is necessary to establish unified regulatory standards for the same management product to make the market more transparent,minimize regulatory arbitrage and prevent financial risks.In the current market,there are a wide variety of products under management with complex structure,as well as a large number of channels and false regulatory arbitrage.Information technology new rules in the introduction affirmed the asset management industry make a positive contribution in the development of national economy,but also explicitly pointed out that some chaos existing in the current information technology industry,main products are multilayer nested hiding real risks,for the shadow banking supervision,the pool model exist liquidity risk hidden danger,rigid to honour the risk in the financial system,part of the non-financial institutions disorderly conduct information technology business,etc.In response to the new regulatory requirements,carry out the supervision of the information and new rules on product design concept,this paper analyzes the information net management put forward by the new rules,not just against the limits of non-standard,encourage the development of standardized products such as ideas,put forward the design method of structured products,can meet the requirements of regulation for the supervision of the information product,and can effectively meet the market demand,in this paper,the overall structure is as follows:The first part is the introduction,discussing the research background and significance of this paper,literature review on pricing theory at home and abroad,the full text of the structure,research methods and innovation;The second part analyzes the main content and influence of the new asset management regulations.As for the related conditions of product design,it puts forward the general idea,method and model of structured product design,and puts forward the general idea of designing and developing financial products of commercial Banks under the existing constraints of the new asset management regulations.The third part will conduct an empirical analysis,to select the common on the market of our country commercial bank issued by bank of structured finance products,analyzes the pricing principle,and try to use black scholes model and the method to establish model of interest rate simulation to back its value,at the same time explore information technology under the new rules of structured financial products innovation.The fourth part is the policy Suggestions,including the policy Suggestions,development paths and general ideas of the structural product design,innovation and risk management of China's commercial Banks in the new era under the new rules of asset management.