银行业务中提前还款的经济学分析——谈抵押贷款的隐含性选择权

Economic Analysis of the Advance Repayment of Loan inBanking Business ——On Implied Option of Mortgage Loan

根据银行业务中抵押贷款提前偿还的经济学分析,指出了隐含于银行业务中的选择权的本质,并建立相关业务风险的简单模型,详细讨论了提前还款的隐含性选择权暴露后对于银行和客户的得失,提出了银行对借款人的选择权征收一定的费用是合理的和必须的,而且是应该被量化或定价。

Based on the economics analysis of the advance repayment of the loan in banking business, this paper indicates the optional nature implied in the banking business and establishes some simple models of related business risks .It makes a detailed discussion about the advantages and disadvantages for banks and customers owing to the revelation of implied option of the advance repayment of the loan. Finally, it turned out to be reasonable and necessary that banks impose certain amount of expenses for the option of the borrowers, furthermore, the expenses should be quantified and fixed in some degree.