Sme Guarantee Security Risk Var Case Studies

The SME(Small and medium-sized enterprises)holds more and more important status in our country's economic development.However,the financing problem which the SME faced is also getting more and more prominent.For solving this issue,the small and medium-sized credit guarantee corporation providing the guarantee for the SME has developed rapidly in our country.It is showed that the small and medium-sized credit guarantee corporation plays the influential role in improving the financial environment,setting up the credit belief for the SME and so on.In particular, it has become backbone of the credit guarantee industry as the public financial resources of the government.On the other hand,the service contents of the credit guarantee business decide that the credit guarantee industry is a high risk sector.At the same time,small and medium-sized credit guarantee institutions also face their own risks,especially the credit guarantee risk of the SME.In the existing law and regulations,monetary policy and lagged theoretical studies,the risk of credit guarantee is expanding.Measuring the risk of the small and medium-sized credit guarantee corporation is the necessary part for controlling their own risk and promoting the financial environment.Based on the risk management problem of the small and medium-sized credit guarantee enterprise,this article firstly analyzes the financing present situation of the SME.Combined with the author's work experience,secondly analyzes the credit guarantee industry development situation in Sichuan Province.Furthermore,each kind of risk which faced to the small and medium-sized credit guarantee corporation has carried on the analysis.After that,this article introduces the measurement of modern risk VaR(Value at Risk)to measure the guarantee risk of the small and medium-sized credit guarantee corporation.We classify the guarantee according to the industry and calculate the VaR of each industry's loan guarantees,then compute the VaR of the entire corporation.In view of some key parameter in VaR measure method,we refer to the parameter which is computed by the data of the listed company in the similar industry. Finally,we compute the risk of the guarantee corporation which the author works for based on the VaR method.The research indicates that VaR method could provide the quantifiable reference index for the risk management of the small and medium-sized corporation.In brief,only that the risk of small and medium-sized credit guarantee corporation is under control can provide the guarantee service better,thus promote the SME healthy development and form the virtuous cycle.