The Risk Management In The Operation Of Pledge Of Warehouse Receipts

ABSTRACT:Pledge of warehouse receipts for modern logistics business is a new mode of value-added services, while banks are also regarded as a kind of new financial products. Warehouse receipts pledged to carry out the business logistics, business flow, information flow, capital flow four streams were integrated for the logistics industry and the financial sector to construct a new mode of cooperation. Pledge of warehouse receipt financing is the bank lending pressure to solve, the difficult problem of corporate finance. The conduct of any business is the benefits and risks coexist, in the development stage of the warehouse receipts pledged no exception. Therefore, the study in the operation of warehouse receipt collateral risk management issues of great significance.This general operation of the selected warehouse receipt pledged in the process of risk as the research object, analyzes the banking business how to carry out this pledge rate risk management. Articles were not on breach of contract and breach of the warehouse receipts pledged under the operation of processes described the elements of risk in sum, on this basis given the specific strategy of risk aversion. Pledge of warehouse receipts by the process of risk in the operation of analysis, the pledge rate directly affects the determination to grant the loan to the bank line of credit business. Low rates guaranteed bank loan collateral security is not conducive to satisfactory financing business line of credit, high collateral business loan rate to meet the financing needs but may cause the risk of banks to recover loans. Therefore, we use mathematics to estimate future changes in the price of the pledge in order to maximize the return on bank loans and expect relationship established with the objective function. Among them, select the logistics business, finance companies and credit situation of the collateral pledged for the rate of price change factors, combined with the probability density distribution function and the formula, and ultimately solve the pledge rate.Different from the past, the pledge rate is calculated, this method not only to maximize the expected profit of bank loans as the goal post, and consider the impact of factors integrated logistics business, finance companies and the pledge of three factors of price changes. In addition, periodic monitoring of risk aversion measures for consideration in the calculation process, in line with the needs of the actual operation of banks. To verify the feasibility of calculation, select the banks to carry out an instance of warehouse receipts to verify the business pledge. Since this paper took into account three factors and the introduction of periodic monitoring of risk aversion measures in the calculation, the results from the pledge rate slightly higher than the Bank when the actual operation of the pledge given rate, indicating that the method presented in this paper identified Pledge rate, both to maximize the return on the banking itself, but also to meet the financing needs of corporate finance.