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论文编号：	11175
作者编号：	2120163166
上传时间：	2019/12/8 17:08:27
中文题目：	T银行理财业务发展策略研究
英文题目：	Study on the Development Strategy of T Bank''s Financial Management Business
指导老师：	张耀伟
中文关键字：	银行资产管理业务；理财子公司；非标资产；影子银行；资金池
英文关键字：	bank asset management business； financial subsidiary company； non-standard assets； shadow bank； capital pool
中文摘要：	2018年国内监管对资管业务先后颁布“关于规范金融机构资产管理业务的指导意见”、“商业银行理财业务监督管理办法”、“商业银行理财子公司管理办法”，其中对银行资产管理业务(即理财业务)明确指出当前业务发展存在的问题：收益刚性兑付、资金池、资产投资多层嵌套、影子银行等，理财业务十几年的疯狂增长，在国内金融体系内滋生系统性风险。为规避此类风险的发生，维护金融市场稳定、维护投资者权益，监管机构指导金融资金投资实体经济、指导有能力的银行成立理财子公司，实现理财业务风险与银行相隔离。 本文通过分析国外先进资产管理机构的发展经验，借鉴摩根资产管理公司、瑞银集团和道富银行在资产管理业务领域的发展经历，结合自身资产管理业务发展定位，寻求特色发展之路；对照国有制银行、股份制银行以及资产管理业务发展领先城商行的实践方案，列明T银行理财业务发展中存在的问题，并分析问题原因，有外部经济周期处于低迷阶段、资本市场环境对银行理财有欠公平、市场客户投资策略偏保守等外部因素，也有理财销售端倾力不足业务导向不清、投资研究起步晚风险管理受限、内部管理体系有待优化等内部因素。提出T银行理财业务发展策略：引领理财销售、打造产品品牌、完善风险防控体系、加强内部管理为业务发展提供保障等。本次监管规定理财子公司配备资产管理业务“公募、私募、信托”的超级牌照，这是理财业务新格局面对的诱惑与挑战，T银行资产管理业务积极依靠全行业务优势，充分认识自身不足，积极探索与公募基金、私募信托的竞合模式，摸索国内银行资产管理业务发展的新路径。 2018年发文到2020年底为银行资产管理业务整改的过渡期，银行资产管理业务在过渡期内压缩与新规不符的业务并转移、新发合规产品，为过渡期结束制定一步一步扎实的工作计划。短期而言，同业银行理财业务都在转型、都在探索，长期来看，理财业务比拼的是哪家银行发展理念和商业模式更具有前瞻性、持久性，有着同业银行短期不可复制的优势，实现在资产管理领域占有重要的一席之地。
英文摘要：	In 2018, domestic supervision has promulgated "Guiding Opinions on Regulating Asset Management Business of Financial Institutions", "Measures for Supervision and Management of Financial Business of Commercial Banks" and "Measures for Management of Financial Subsidiaries of Commercial Banks". Among them, it clearly points out the existence of current business development for the asset management business of banks (i.e., financial business). Questions: Income rigidity, capital pool, multi-layer nesting of asset investment, shadow bank, etc., the crazy growth of financial management business in more than ten years, breeds systemic risk in the domestic financial system. In order to avoid such risks, maintain the stability of financial markets and protect the rights and interests of investors, regulators guide financial funds to invest in the real economy, guide banks with ability to set up financial subsidiaries, and isolate financial business risks from banks. This paper analyzes the development experience of foreign advanced asset management institutions, draws on the development experience of Morgan Asset Management Corporation, UBS Group and State Street Bank in the asset management business field, and combines the development orientation of its asset management business to seek the path of characteristic development; Banks, joint-stock banks, and asset management business development of leading commercial banks in the practice program, set out the problems in the development of T Bank's wealth management business, and analyze the causes of the problem, the external economic cycle is in a downturn, the capital market environment is owed to bank wealth management Equity, market customers' investment strategies are conservative, and other external factors, such as the lack of financial management, the lack of business orientation, the limited risk management of investment research, and the internal management system to be optimized. Put forward the development strategy of T Bank's wealth management business: lead the financial sales, build product brands, improve the risk prevention and control system, and strengthen internal management to provide guarantee for business development. This regulation stipulates that the financial management subsidiary is equipped with a super license for the “public offering, private placement, and trust” of the asset management business. This is the temptation and challenge facing the new pattern of wealth management business. The asset management business of T Bank actively relies on the business advantages of the whole bank and fully understands itself. Insufficient, actively explore the co-opetition model with public funds and private equity trusts, and explore new paths for the development of domestic bank asset management business. In the transition period from 2018 to the end of 2020, the bank asset management business will review the business that does not conform to the new regulations and transfer and develop new compliance products during the transition period, so as to formulate a solid work plan step by step for the end of the transition period. In the short run, the financial management business of interbank is in transition and exploration. In the long run, what the financial management business competes with is which bank's development concept and business model is more forward-looking and durable, which has an important position in the field of asset management and has the advantage that interbank can not replicate in the short run.
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