Intermediate business of commercial banks and the development of intermediate business of commercial banks in China with a comprehensive international comparison The middle of a commercial banking business development activities because of 1 an inevitable choice for commercial banks Intermediate business of commercial banks and the rapid development of the emergence of the underlying reasons are not only driven， but also the result of external First of all， the international community to enter the countries have relaxed controls， the liberalization of banking and international trends， including greatly to the middle of the business， including the pace of financial innovation; Second， market competition has also promoted the development of intermediary business， traditional business of commercial banks not only faced competition in the same industry， and along with the development of capital market countries， greatly increased the proportion of direct financing， the traditional commercial banks assets， liabilities， business increasingly showing a "sunset industry" the decline， therefore， commercial banks were forced to carry out new business innovation to create a new source of profits; again， the middle of business innovation is the result of market demand， due to frequent fluctuations in interest rates and exchange rates， enterprises and commercial banks in which the uncertainty of economic environment， increasing the risk of which the effective management tools， in particular， a number of financial derivatives had a demand for the development of the banking intermediary business that is risk management in order to satisfy customers， as well as other diversified financial services; Finally， the banks have their own advantages， as well as 20 practical information technology since the 80's the development and extensive use of commercial banks for the development of intermediary business February 1987 at Northwestern University in the United States held a deposit-taking institutions on asset securitization and the risk of development of intermediary business seminar， a scholar on the development of commercial banks in the middle of a large number of business reasons for concluding， that is， commercial banks the development of intermediary business and technology， control， interest rate risk， customer competition， factors such as capital adequacy ratio are closely 2 The significance of the development of intermediary business (A) can be extended into a commercial bank intermediary function， to expand their business (B) commercial banks can spread business risks， and enhance the bank's ability to resist (C) can play a variety of business， "bundling" effect to enhance the competitiveness of the Intermediate business of commercial banks between other business interaction and mutual influence， and the development of intermediary business for the banks not only bring direct profits， but also with other business， the second interaction of the market to enhance the competitiveness of Second， commercial banks in the development of intermediary business 1 The broader business scope， a wide Western countries of the middle-run commercial banks and a wide variety of products to meet the diverse needs of customers， the commercial banks for the new business The scope of business covered by the middle of the traditional banking， trust services， investment banking， mutual funds and insurance They can engage in money market operations， but also can engage in discounting commercial paper and capital markets Gradually expand the business scale of 2， rising income From 1993 to 1996 among the US banking business grew from 912 billion US dollars to 188 trillion US dollars， accounting for bank assets from 78% to 9%， of which the seven largest banks in the middle of the business lending per cent more than doubled and Living in the forefront of the US banking industry， Citigroup， the Americas， such as the middle of the five major banking groups involved in the operational activities of the total assets of more than 2 trillion US dollars has the same period， assets and liabilities that banks under the total assets of 780 billion US dollars for the capital sum for the 45 billion US dollars; intermediary business 3 years the average growth rate to 2%， much higher than the 9 percent average annual total assets and total capital at an average annual growth rate of 6 ① 3 Middle-income structure of the business Western commercial banks from 1980 to 1990 of 10 years， the total income of non-spread revenue rapid upward trend in The middle of foreign banks operating income generally accounts for 40% of total revenue -50% Acceptance in the United States， Citibank， credit investigation， credit rating companies， assets evaluation business， personal financial advisor business， long-term foreign exchange trading， foreign exchange futures， foreign exchange options， and other intermediary business represented 80 percent brought their profits deposit and lending business profits accounted for only 20% of the total ② 4 Service means of advanced and high Improvement in the level of science and technology for the development of intermediate business of commercial banks to provide a strong foundation for technical support and innovation， especially in recent years can be at any time and any place in any way to provide customers with personalized service network of banks， the emergence of Internet banking promoted the development of intermediary With the international advanced banking payment system on its strong business in the middle was a huge amount of service fee Third， commercial banks Analysis of intermediate products 1 Clearing-type intermediate products Clearing products are usually divided into promissory notes， bills of exchange， the three types of Settlement of funds between the time of the settlement act， for the customers， the main demand is to use the banking clearing system， security and timely transfer of Settlement is therefore a means of clearing operations to ensure the successful completion of an important On the characteristics of the clearing business， its risk may come from three aspects: customer risk factors， risk factors of post and telecommunications sector and banking risk For the banks， the first two banks of external risks， which is the bank's internal ③ 2 security type of intermediate products With the development of international trade， the Western commercial banks faster development of the security business， including standby letters of credit， guarantee the payment， performance bond， bid security， supervision， such as payment by the common Chinese and foreign commercial banks， the security business is production of the intermediate business with commercial banks to carry out security operations is the use of banks to provide credit support， that one has to bear because of the risks associated with credit Intermediate goods 3 Management Mainly divided into the banking business， safe operations， Personal Financial S Since the last century is the era， as the world's financial system， industry structure， organizational structure， operational modalities and competition is undergoing a profound The changes in the traditional banking， securities， insurance， trust business increasingly blurred boundaries between the business， while seeking to promote and strengthen the commercial banking and financial activities of globalization and virtual organizations， the banks of the insurance industry to flourish here With the development of the world economy， personal financial services showing a huge space for And personal financial services customers of commercial banks is the core personal financial services in the commercial banks to the "financial services supermarket" the process of development， personal financial services of commercial banks at home and abroad has become the focal point of retail business 4 Advisory type of intermediate products Intermediary business consulting category refers to the transfer， sale information and provide intelligence services to the main contents of the intermediary Commercial banks on their own information， talent， credibility and other areas， the collection and presentation of information and information of these customers， as well as banks and financial analysis of campaign records to form a system of information and programs made available to customers， one to meet their management or business development Include: credit， corporate credit rating， assets evaluation business and financial information; business and personal financial advisor business; business consultant business investment and financing， including financing and the international syndicated loan 5 bank cards， online banking intermediate products Bank credit card is the issue of commercial banks to the community with consumer credit， debit settlement， access to cash in whole or in part， such as a credit payment Its fast development， many countries have become an important business， many banks and the major source of profit for Internet banking is a banking service to provide customers with new tools， which the existing banking business， based on the use of Internet technology to provide customers with comprehensive， consent， security， real-time financial Internet banking is not only a banking innovation is the organizational structure of a bank穿心At the same time， the emergence of Internet banking so that the expansion of commercial banks to find new channels for the middle of the Fourth， the middle of the latest developments in the direction of business Securitization of credit assets 1 Securitization of credit assets refers to a group of poor liquidity through a portfolio of assets， so that this group of assets to generate stable and predictable cash flow proceeds through the intermediary of certain credit enhancement， the proceeds of these assets the right to change as flows in the financial markets， higher credit rating of bond-type In essence， will be financing the securitization of future cash proceeds of the assets and the corresponding right to transfer the risk to investors， and the transfer of ownership of the assets may not be ④ 2 fund business A long time， China's commercial banks to develop intermediary business not as a main industry and the new profit growth point to run， but also our country's strict separation of management and other factors， so that the development of the banking sector has been greater A direct consequence of these restrictions is that domestic commercial banks and weak financial Have been carried out in the middle of the retail business of the development of varieties， not to profit maximization as the goal， but as absorbing as a means of customer deposits， which resulted in business receipts in the middle of the contribution rate for banks with low profit Commercial banks in China's current total income， the proportion of all interest income more than 90% This revenue structure is to enable the assets of China's commercial banks profitability in the last century since the 90's has been in a continuous downward trend in one of the main Studies have shown that commercial banks in the US the average asset profit rate of China's four state-owned commercial banks average of 86 This shows that the middle of my business cards， many types of projects though， but their purpose and profit with the situation in Western developed countries， significant differences between the modern commercial banking business and a lot of content has yet to enter our field of ⑥ 8， China's commercial banks lag in the middle of the reasons for business development 1 on the traditional state-owned commercial businesses， as well as the long-term monopoly control of the central bank's interest rates led directly to commercial banks to create a modern From abroad， the development of banking business， the increasingly intensified competition in the market forces and customers is to continuously strengthen the bank to speed up the expansion of the main reasons for non-margin China's banking industry from the historical path of development， the historical factors strangle a certain extent， the domestic commercial banks to expand their business and the autonomy of "Unification" of thinking， as well as the banking system more rigid domestic commercial banks used to make the government's command， the lack of response to the economic situation to customers and the market as guide， based on the formulation and implementation of their own advantages for their own development strategies of motivation and 2 the development of intermediate business of commercial banks led to a substantial risk of financial regulation will make the existing system is facing tremendous The financial sector at the policy orientation of business limits the room for the development of intermediary Most of the middle of the business belonging to banks and non-bank financial institutions operating in the field of cross-cutting， so inrong the state's macroeconomic management policies of banks， non-bank financial institutions， the limited scope of business directly determines the intermediate business of commercial banks to open up I started in 1993 from a banking， securities， insurance， trust the strict separation of management， the banks can not create a cross-sectoral， comprehensive， multi-faceted business intermediate products， it is difficult to raise the level of business and level of intensive 3 Bank charges among the business and the lack of In the absence of corresponding fees and charges based mechanism， the intermediary business difficult and hard to charge fees， particularly the phenomenon of Charges not specifically reflected in the financial institutions among the business no express provision Difficult to charge in fees and charges due to lack of enforcement mechanism， financial institutions are afraid of arbitrary collection of charges the 4 China's banking industry has developed the "marketing model" and the "marketing habit" has severely constrained the development of intermediary From foreign banks to expand business model point of view， primarily by the consumer to facilitate this， fast， safe and customer service benefits， are a typical "product " As for the domestic banking industry， the product quality and price are often relegated to a secondary position， "relationship marketing" has become the domestic banking industry to explore the middle of the main mode of At present， commercial banks remain the main customer base to large and medium-sized state-owned enterprises， state-owned enterprises and property rights Fuzzy principal - agent problem makes enterprise managers pay more attention to the pursuit of personal interests， at this time the relationship between banks and their customers has become a successful product whether or not the ⑦ Main References: ① Bank for International Settlements: "International Financial Market Development Report"， published in 1999 ② Ho five-star: "Financial Innovation in Development"， Southwest University of Finance and Economics Press， 2000 ③ Yang Ming-sheng: "Commercial Bank's Intermediary Business Products practical " Beijing， China Financial Publishing House， 2002 ④ Peter • Rose book， Liu Garden translation: "Commercial Bank Management"， Beijing， Mechanical Industry Press， 2001 ⑤ after lam-chun: "commercial banks intermediate innovative business risk prevention and control"， containing "China's financial fortnightly" 2003 Zhang Guohai ⑥: "Commercial Bank's Intermediary Business Development Strategy in the International Comparison"， in "Financial Research"， 2003 ⑦姚德良: "I have been the middle of the commercial business development implied by the low level of research"， in "Finance and Trade Economy"， 2004
