Credit Risk Transfer and the Performance of Commercial Banks --Based on the Panel Data

Based on the panel data, we analyze the US commercial banks＇ CRT. According to the study, we find that the introduction of CRT will increase the level of banks＇ liquid risk. The performance of bank mainly is that its supervision and review of risk will drop, based on the impact of asymmetric information, commercial Banks transfer the bad loans to investors. Through the analysis we can see that after the transfer of credit risk in commercial bank did not increase income and reduce risk. Because commercial Banks can extend more bad loans to expand its lending scale, and bad loans will increase the bank overall risk.

The Mathematical Analysis on the Risk Management Effect of Crop Insurance Plan

As a variant index, variation has an inherent shortcoming that it can only reflect the static fluctuation of the crop. This paper makes complementary analysis about it on the basis of the comment on Miranda＇s approach of β index and goes on to analyze the β index approach under the condition of three kinds of crop insurance plans, β index approach has the advantage that it can dynamically reflect the risk transfer effect of crop insurance plan. At the same insurance level, the smaller the β index is, the better the corresponding risk transfer effect of crop insurance plan is; And vice versa.

Research on the Pricing of Convertible bonds in China Migration risk based on credit rating

At present,further research and exploration on credit risks are being carried out in the global field,and increasingly profound modem credit risks are exposed to the bond market.This requires that we cannot ignore the impact of credit rating migration risk on bond pricing,so as to adapt to the sustainable and healthy development of the bond market under the new normal of China's economy.The innovation point of this paper is to try to analyze the pricing of Convertible bonds in China from the perspective of credit rating migration risk.Tsiveriotis and Femandes(1998)model is selected,and the credit risk in the model is assumed to be caused by the credit rating migration risk,and the credit spread is used to measure the credit rating migration risk.The research conclusion of this paper is as follows:First,it is valid to consider the risk of credit rating migration in the TF(1998)model.The market price of convertible bonds is on average 1.22% higher 1han the theoretical value of the model.In general,the theoretical value obtained from the model has little deviation from the market price,and has a good fitting degree.Second,from the Angle of credit rating,the selection of 32 samples of convertible bonds only empirical research shows that the credit rating of AA-convertible bonds average deviation rate is negative,suggest that the credit rating of AA-the phenomenon of convertible bonds value is underestimated,and AAA credit rating to AA,AA+,the average deviation rate of convertible bonds is positive,that credit rating AA(containing AA)more convertible bond value is overrated phenomenon,and the higher the credit rating of the average deviation rate of convertible bond,the greater the overvalued levels.It has certain guiding significance for participants in the convertible bond market.

Probabilistic Seismic Risk Assessment in Manizales,Colombia: Quantifying Losses for Insurance Purposes

A fully probabilistic seismic risk assessment was developed in Manizales, Colombia, considering assets of different types. The first type includes elements that are part of the water and sewage network, and the second type includes public and private buildings. This assessment required the development of a probabilistic seismic hazard analysis that accounts for the dynamic soil response,assembling high resolution exposure databases, and the development of damage models for different types of elements. The economic appraisal of the exposed assets was developed together with specialists of the water utilities company of Manizales and the city administration. The risk assessment was performed using several Comprehensive Approach to Probabilistic Risk Assessment modules as well as the R-System, obtaining results in terms of traditional metrics such as loss exceedance curve, average annual loss, and probable maximum loss. For the case of pipelines, repair rates were also estimated. The results for the water and sewage network were used in activities related to the expansion and maintenance strategies, as well as for the exploration of financial retention and transfer alternatives using insurance schemes based on technical,probabilistic, and prospective damage and loss estimations.In the case of the buildings, the results were used in the update of the technical premium values of the existing collective insurance scheme.