Bank Z's Risk Management On The Business Model Of Equity Pledge Financing

Loan is the main way to solve the problem of capital shortage in the process of enterprise development.I In recent years,equity pledge has gradually become one of the financing methods of listed companies and major shareholders.According to the statistics of wind,by the end of February 2019,there were 3383 companies with equity pledge financing,accounting for 94.26%.Equity pledge financing is a very common phenomenon in A-share market.With the continuous expansion of the scale of pledge and the fluctuation of stock price,the risks brought by equity pledge financing to listed companies and banks can not be ignored.The inability to replenish stocks after pledge often leads to the liquidation of stocks,and the bursting of stocks has become a problem that can not be ignored by listed companies and banks.Especially during the bear market,the forced selling of stocks by creditors caused by the sharp fall in the stock price of a company may lead to the price drop of stocks in the same industry or other related industries,and may further lead to the "compulsory sale" of other stocks with high pledge ratio.Once investors panic in the stock market,it will bring huge risks to companies,especially those with high equity pledge financing rate,and then to banks providing equity pledge financing services.According to the new regulations on stock reduction and pledge issued intensively in 2017 and 2018,as well as the relevant norms of bank asset management business,we can see that the risk hidden dangers of equity pledge financing business of listed companies have attracted the attention of the regulatory level.The equity pledge financing of listed companies,once a large-scale liquidation or explosion occurs,will easily lead to systemic risk,and will have a greater impact on financial security.Therefore,how to avoid the risks and hidden dangers of equity pledge financing has become one of the contents of risk management of listed companies and banks.In the form of case analysis,this paper takes the risk management of Z Bank's stock pledge financing as the main line,and introduces the concept,development process and operation mode of stock pledge financing in detail.At the same time,this paper uses the capital management theory of commercial bank risk management,through the process of risk identification,risk analysis and evaluation,risk control and risk treatment,respectively,based on the case of three listed companies with different share pledge ratios A,B and C,from the perspective of listed companies and banks,this paper uses the Delphi method to analyze the possible risks and hidden dangers,and puts forward corresponding management suggestions for the risks and hidden dangers.Suggestions for management are put forward.