利率市场化背景下的商业银行个人理财产品

Discussions on the Individual Financing Products of Commercial Banks against the Background of Interest Rate Liberalization

目前我国商业银行个人理财产品层出不穷,但是就产品种类而言,缺乏突破,原因在于利率没有完全放开,金融风险因子不够丰富,商业银行无法为客户提供风险梯度完整的产品,也无法有效进行套期操作保值。利率市场化的深入将有助于解决这些问题。同时,商业银行个人理财产品将逐步替代部分银行存款,从而有助于放开银行存款利率,实现利率市场化。

In the recent years, an inexhaustible variety of individual financing products have been introduced by our commercial banks. However, the range of these financing products is limited. The major reasons lie in the fact that interest rate is not thoroughly liberalized and financial risk factor is not enough so that commercial banks can neither provide risk-diversified financing products nor undertake arbitrage and hedge efficiently. Surely, the further development of interest rate liberalization will help to solve these problems. Meanwhile, the individual financing products of commercial banks will gradually become the alternatives for partial bank deposits, which will contribute to abandoning the control over bank deposit interest rate and promoting the liberalization of interest rate.