Research On A Securities Company's Liquidity Risk Evaluation

Liquidity risk of securities companies is an integral part of financial systemic risk.Generally speaking,securities companies are faced with market risks,liquidity risks and policy risks in their operation,but liquidity risks are the core,and scientific assessment of them is the key to their risk management.This paper starts from the definition of liquidity and liquidity risk,divides liquidity into macro level and micro level,focuses on analyzing the characteristics of liquidity risk of securities companies,and analyzes the impact of fund raising on the formation of liquidity risk and the mechanism of action by using the accident tree analysis method.Secondly,the liquidity risk evaluation index system including liquidity coverage ratio and net stable fund rate of securities companies is constructed,and then the liquidity risk of A securities company is measured by using the established index system.Once again,factor analysis method is used to conduct longitudinal comparison of the measurement results,to find out the factors that affect the fluctuation of the measurement index,analyze the causes of these factors' fluctuation and put forward the problems.This article find that A securities company exists in the liquidity risk management of internal funds transfer pricing mechanism was flawed,debt financing behavior is not enough as A whole,its own funds management system defects,lack of liquidity is mandated by the competent department of the risk management theory to solve these problems,the internal control theory and other scientific theory for A securities company put forward the optimization of its own funds management system,the liquidity risk management is more sophisticated,refined,liquidity risk management related organization structure improvement measures.