The Research On Risk Management Of The RMB Structured Deposit Of Commercial Banks

Structured deposit is a deposit product which combines fixed income investment with financial derivatives transaction.It has the characteristics of both financial management and ordinary deposit.In the past two years,a large number of institutional investors have chosen this product for cash management,commercial banks use this product to expand debt actively.With the rapid development of structured deposit business,its hidden problems and risks are constantly emerging,so it is particularly important to identify and prevent product risks.Combining with the actual business situation,this paper studies the risk management of RMB structured deposits,which can provide a realistic basis for commercial banks and government departments to strengthen supervision and for investors to reduce investment risk.This paper studies the risk management of RMB structured deposits by qualitative and quantitative methods.Firstly,this paper reviews the development of structured deposit at home and abroad,and finds that the incoming and development of structured deposit products in China is closely related to the reform and opening up and the process of interest rate marketization.Secondly,through the analysis of various kinds of structured deposit products and the introduction of pricing methods,it is proved that the excess income of structured deposit higher than ordinary deposit should come from the investment income of its derivative structure.Thirdly,the paper analyzes the current situation of the structured deposit business,and concludes that the rapid growth of the scale of small and medium-sized banks at this stage is mainly due to the role of market supply and demand,and summarizes the existing problems in product distribution,sales,operation and supervision.Finally,taking the Bank of X's business development as an example,this paper uses Monte Carlo simulation method to make an empirical analysis to explore the risks and preventive measures faced by the Bank of X's structured deposits.The results are as follows:1.The Bank of X's universal structured deposit product is a kind of fixed income product,using the product to break through the principle for deposit interest rate,so that the bank's debt costs continue to increase,while there are greater regulatory risks.2.The Bank of X's structured deposit products embedded in real value derivative transaction structure can bring intermediate business income to the bank,but because institutional investors need to bear certain market risks,the expected value of product yield is slightly lower than that of universal products,so the market acceptance is low.Combined with the research conclusion,this paper puts forward risk prevention countermeasures from different angles.For commercial banks,a comprehensive risk control system should be established to speed up the marketing layout of new products and create a professional marketing team;for investors,the product structure and terms should be fully understood,and reliable sales channels should be selected;for regulatory authorities,relevant laws and regulations should be further improved.We should give full play to the regulatory functions of industry associations and improve the regulatory system of financial derivatives.