Research On Bond Investment Credit Risk Management Of A Securities Company

In recent years,bond investment has become more important for securities companies in China.The global finance market is still in the turbulence caused by the subprime crisis.Credit events of bonds occurred more frequently in Chinese market.The credit risk of bond investment is surging.Meanwhile,the regulatory agencies have put forward stricter requirements on the credit risk management of securities companies.Under the pressure from market and regulatory environment,securities companies are facing severe challenges in credit risk management of bond investment.In this situation,researching on the bond investment credit risk of securities companies make this paper with certain practical significance.This paper takes A Securities Company as research object.This paper makes a brief introduction of A Securities Company and its bond investment,and makes a detailed analysis on its whole progress of credit risk management in this field.Based on the problems existing in the pre-investment evaluation,investment decision-making,post-investment tracking and performance appraisal,this paper put forward targeted improvement measures.These measures include the establishment of a unified rating mechanism and the gradual improvement of the rating system,the full consideration of bond credit risks in investment decisions,the integration of system data and the establishment of a regular rating adjustment mechanism,the consolidation of the responsibility of investment managers and the establishment of a credit risk reserve mechanism.These improvement measures are operable and in line with the actual situation of A securities Company.They can conducive to improving the credit risk management ability of the bond investment of A Securities Company.