新常态下商业银行债券投资风险研究

Research on the Risk of Bond Investment of Commercial Bank under New Normal Economy

在经济新常态下,随着市场对外进一步开放、利率市场化进程不断推进,债券市场规模快速扩大,发行总量大幅上涨,托管总量持续增加,债券产品不断创新,债券市场迎来了"新常态"式的发展。这也使投资风险进一步升级,呈现信用违约多样化、政策突袭习惯化、利率波动扩大化的特点。债券投资所面临的风险问题,正在影响银行业的稳健经营,并威胁到银行间市场的健康发展。这对债券投资风险的管理提出了新的挑战。

Under the new normal economy,with the market opening up,the interest rate market continues to advance,the scale of the bond market is enlarging,the total amount of the bond issuance expands,the total amount of collocation continues to increase,bond products continue to innovate,and the bond market ushered in the new normal type of development.This also makes the investment risk to be further upgraded,showing the characteristics of a diversification of the credit default,as well as the impact of policy changes,and the expansion of interest rate fluctuations.The risk of bond investment is affecting the healthy operation of the banking industry,and having threat to the healthy development of the inter-bank market.This is a new challenge to the management of bond investment risk.