At present, the domestic commercial banks are increasingly feeling the impact of the macroeconomic cycle and the impact of the financial industry competition is becoming more intense, and the new type of financial industry has a more far-reaching impact. How to achieve a new coordinated and balanced on a higher level, which is an important problem to be solved in the future management and development of commercial banks.
One, in recent years, commercial banks in the process of innovation and reform is slow
History of painful risk management cost of the commercial banks in market expansion and innovation showed obvious "risk averse" orientation, as time passes and vine give birth to "conservative path dependence and invisible" to avoid the culture of accountability ", resulting in slow response to the market, market expansion and growth of getting tired.
(a) the development of commercial banks in recent years, the existence of "path conservative" signs
Throughout the 30 years of domestic commercial banks, which is mixed with the macroeconomic cycle changes as well as financial turmoil, the impact of the financial crisis, has not yet fully open interest rate market reform, subject to a higher degree of business structure, business performance, earnings and credit risk has been closely related to the scale of non-performing loans.
In particular, the large commercial banks, due to the history of the cost of risk management is too painful, but also the risk management and internal control in the management of the important position. At the same time, commercial banks in the process of the implementation of risk management and internal control policies, usually appear too much emphasis on risk prevention "risk averse" tendency, when the market risk, and competition of conflict prevention, in both choices often choose to give up the market, the development of conservative path dependence signs more obvious. In the fierce competition in the market, innovation and innovation, initiative, the initiative to run the risk of power shortage, the pursuit of a low risk will limit market space, customer base and competition.
(two) invisible "avoiding responsibility culture" is the impact of innovation and vitality of the new norm in the commercial banks' innovation and risk management He Chongyang
Abstract: compared to other financial institutions in the country. In recent years, the innovation of commercial banks in the process of change is relatively slow, in the development and management of existence "path conservative and intangible" to avoid responsibility culture "tendency. Commercial banks should be considered moderate increase in risk tolerance, due diligence exemption system construction, in order to better leveraging innovation and better risk control at a higher level to reach a new balance. This paper analyzes the current situation of the innovation of commercial banks, and puts forward the measures to further accelerate the innovation of commercial banks.
Keywords: commercial banks, financial innovation, risk control, F83, A, 1006-1770 (2014) 012-029-05 in recent years, commercial banks to fully share in China's rapid economic growth dividend, but its understanding of the problem, the practice of learning inertia that the better results are the results of their own business management capabilities. And commercial banks on macro economy into the downward cycle of the preparation is not enough, one-sided view that domestic financial demand still far beyond financial supply, effective credit demand remains strong, rely on loan spreads can smooth operation, do not pay attention to challenge the status quo, continue to promote the reform and innovation, a sense of crisis is not strong.
Over time, the commercial banks in the market development and innovation in a certain extent, the formation of an invisible to avoid responsibility culture, in order to avoid the risk of responsibility, may be afraid of business innovation, conflict process change. Moreover, due to the lack of "due diligence" in the risk management is a positive incentive, often lead to passive to give up market opportunities, business innovation and management efficiency. Despite this "avoiding responsibility culture" in an invisible state, it has become the "unspoken rules" of the business lines, which restricted the full play of the new business, new markets, new customers and the full play of innovation.
(three) the neglect of other financial industry innovation, innovation and innovation power shortage
Compared to other financial institutions, commercial banks are still used to act as the "boss", "door" awareness. Do not see their own gap, the neglect of the fund, insurance, securities or emerging financial formats, innovation and reform momentum, the development of the sense of burnout, the implementation of innovation and performance of competitors to take for granted that is the result of illegal operations, short-term behavior. In this kind of arrogant thought under the control, commercial banks in the environment, market, customers, competitors understand changes is not deep, reaction, coping ineffective, or even in many ways has been catch up with and even beyond time, thought ahead of others and sit back and relax.
Although commercial banks have been encouraging business, products, services and processes, management, institutional innovation, but to promote the process of innovation and reform is still relatively slow. In fact, the implementation of various innovative changes to a certain extent still stay on the shallow level, learning from many, original innovation and less, more passive and less active innovation, more innovative and more systematic innovation. For new requirements, new business, new customer acceptance ability, business processing efficiency is low, the service process is long, the customer experience is poor, management is not enough, in the financial industry competition is in a passive position, innovation and reform of the institutional mechanism failed to release the full of enthusiasm and business development of energy.
Two, leveraging the commercial bank innovation and risk control to achieve the new balance at a higher level
(a) the dialectical relationship between innovation and risk control
The relationship between risk control and innovation is the eternal theme of the commercial banks are facing, according to the traditional ideas, both of which may exist the shift. But in the new normal economic environment, commercial banks should use the comprehensive view and development ideas to correctly grasp the relationship between the market and risk. On the one hand, a comprehensive view is to assess the risk of a comprehensive, management risk to be comprehensive. To objectively analyze business and customer risk, to recognize that good customers in bad business, poor customers also have a good business, not because of a business, a customer's partial risk and negative. On the other hand, the development of thinking is to use the vision of development of risk, to rely on development to avoid risks.
Risk has no, not big, can not take it for granted, take the head, some problems with the old vision is a risk, with the development of vision may be an opportunity. New things can not easily be rejected for some new markets, new business, to allow exploration; some of the risk control aspects, to be as simple as possible, to allow the pilot, and feasible to further promote.
Facing the complex and challenging market environment and market demand, the competition of financial industry is becoming more and more intense, and the new financial format will have a more profound impact. In this new stage, there are some problems, such as the risk control, the risk tolerance, the slow development of macro economic growth, the growth of financial reform, the development of new technology and the new technology.
Of course, prudent and comprehensive risk management system, rich experience in risk management and risk management capabilities can not be abandoned, but commercial banks can appropriately improve the risk tolerance and risk control flexibility, not simply to reduce the risk, but to a more long-term judgment and a more comprehensive measure of the framework, in innovation and risk control to find a reasonable balance point. Especially by real, high quality, leading the market dynamic, lasting and advanced innovation and change, for as soon as possible, practical and effective innovation change uncord, under the premise of effective risk control enhance profitability, innovation of leveraging the better and better risk control at a higher level a new balance.
(two) in order to improve risk tolerance as the breakthrough point, to comprehensively promote the reform and innovation of products, services, processes, management and institutional mechanisms
Appropriately increase the risk tolerance, the premise is to promote innovation and innovation is compliance. On this basis, commercial banks should weigh the relationship between innovation and risk control, optimize the risk appetite, and maintain a proper degree of risk tolerance.
1 moderate increase in risk tolerance, to promote innovation and innovation is the premise of compliance
Innovation and change in compliance with the laws and regulations as the premise, is in compliance with the bank management rules on the basis of practice exploration, not free modifications, not to fight the "edge ball", "red light", not "touch high wire". According to the essence of the gauge is refers to the commercial banks follow the laws, regulations and policy, institutional, regulatory, reflect the spirit of the rule of law, rule consciousness and robust operation. But stressed that compliance in accordance with the law, does not mean that deny people's enthusiasm and creativity, conservative, rigid is not in compliance with the laws and regulations.
Commercial banks must adhere to the law compliance and accelerate innovation and innovation, in accordance with the premise of bold innovation, in the innovation platform to reflect higher quality compliance, through the legal regulations and rules and regulations for more profound research and to design a more competitive products and services to better optimize the product and service, integrated business and management processes, optimize the system and mechanism to improve the overall effectiveness of innovation.
2 moderately improve credit risk tolerance, and promote the commercial bank credit business innovation
At present, credit business is still the main business of domestic commercial banks, credit spread is still the most important source of income. Therefore, credit risk prevention, the prevention and control of non-performing loans is still the most important field of commercial banks' risk management.
First, commercial banks should try to change the risk prevention and control of the risk prevention and control for the rate of non-performing loans to reduce the rate of non-performing loans, in order to improve the credit risk tolerance to do a good job of ideological awareness. It can be said that the current commercial banks non-performing loan ratio is basically in the "drop" of "floor" level, especially large commercial banks non-performing loan ratio, from the average of more than 20% in 2003, fell to 4% in 2005, and continued to fall in 2006-2011 years, 2%, 1% and 1% years, as of now, although a slight rebound, but still maintained at a level of slightly over 1%. And throughout the 2003 ~ 2012 years, 10 years, Citigroup, HSBC, Barclays, Scotland, Paris, France, Germany and MITSUBISHI and other major international banks have never reached such a low level of non-performing loan ratio. Even the Bank of America, JP Morgan chase and Wells Fargo, but only in the 2003 ~ 2007 was close to the level of non-performing loans of domestic commercial banks. Among them, the United States bank maintained between 0.26% ~ 0.87%, JP Morgan chase maintained between 0.48% ~ 1.41%, Wells Fargo between 0.49% ~ 1.01%, but the rate of non-performing loans in the Bank of the three banks in 2012 is 2 ~ 4 times (Table 1).
Therefore, from the past history and future trend, the current domestic commercial banks' non-performing loan ratio has reached a very low level. In the fierce competition of the market, if blindly pursue the low risk, will limit its market space and competition.
In addition, the low level of non-performing loans, easy to lead to the capital market 1 of the domestic commercial banks asset quality indicators, the appropriate rate of non-performing loans is also expected to rebound in the external reasonable expectations, will not lead to investment in domestic commercial banks over the stock price. Especially in the context of macroeconomic entry into the new normal, the risk of financial operation in the face of continuous change, but also the need for commercial banks to change ideas, innovation and reform, in order to more effective means to resolve non-performing loans pressure, maintain a reasonable level of non-performing loan ratio.
Secondly, sustained release of the risk of non-performing loans from a ready to see, domestic commercial banks in the provision coverage ratio respectively before and after in 2007 exceeded 100%, in 2010 exceeded 200%, in 2012 and close to or more than 300%. And during the same period, Bank of America respectively by 194.8% dropped to 128.2% and 102.6%, Citigroup and JP Morgan Chase is a bit better, seven other major international provision coverage rate were 100% below (Table 2). Therefore, domestic commercial banks, super high provision coverage levels for to reduce the credit risk tolerance, an appropriate increase in bad loans rate to promote reform and innovation to provide the space.
Appropriately raise the credit risk tolerance, and promoting the flexibility of non-performing loan ratio control, stimulate the credit management activity in the form of more complex, the commercial banks to put the credit operation system reform in a prominent position, stepping up to solve main problems of credit management, focus on improving the adaptability to the market, focused on solving the problem of too many aspects of the process, overlapping reciprocating and desk workload overweight problem, improved credit due diligence basic work, strengthen marketing and customer daily maintenance management. To customers as the center, to distinguish between different enterprises and business, design a more targeted operation process. To improve the authority management, the approval authority and the necessary system control matters of the low credit risk business shall be appropriately delegated to the branch offices.
3 appropriately improve the market risk tolerance, and promote the commercial banks to invest and trade in business innovation
For a long time, commercial banks are accustomed to doing zero risk, low risk investment business and business customers. As of the end of 4000000000000, a large bank of 2012 net investment in zero risk, ultra low risk of national bonds, central bank bonds and policy bank bonds accounted for more than 81%; moreover, the remaining less than 20% of other bonds, there is a considerable proportion of the central bank bills. It can be said that under the influence of zero risk, low risk and the strict control of market risk investment ideas, the domestic commercial banks rarely involve high risk investment banking. Therefore, the appropriate increase in market risk tolerance, accelerate the innovation of investment business, but also the domestic commercial banks to adjust the asset investment structure, investment risk investment preferences, the real need to forge a high-end investment talent.
From the income structure, the domestic commercial banks and the Commission and commission business and net income gap between the international large banks. Moreover, in the more able to reflect the investment and trading capacity of the investment and trading business with the international large bank of the gap. In contrast, the other non interest income (mainly the investment income and exchange rate of the products) of the domestic commercial banks has been low, and the gap is very obvious. Especially state-owned large banks, the average of other non interest income accounted for about 5% of the level of basic. In contrast, 2009-2012, Barclays Bank, the proportion has remained at more than 27%, the Royal Bank of Scotland, Paris, France, the Bank of the accounting for more than 20%, HSBC Holdings, Citibank also maintained at around 16% (Table 3). Especially in the context of the regulatory authorities to strengthen the regulation of banking charges business, to further optimize the structure of income, commercial banks should improve the market risk tolerance, and increase the intensity of investment and trading business innovation.
To meet the interest rate market, the RMB internationalization, financial market innovation and integrated management of the new requirements, commercial banks should promote positive market risk management, and actively enter the market. Not only to dare, but also to be good at doing high-risk investment and trading business, to enhance their ability to identify the market risk in the practice of market risk, risk pricing, risk control ability, innovation and investment and trade transactions, to expand investment and business income contribution.
In the future, commercial banks to accelerate investment and trading business direction is mainly reflected in the following two aspects: on the one hand, grasp the country to increase the proportion of direct financing, and vigorously develop the capital market and bond market opportunities, to adhere to the higher investment value of the varieties, optimize the investment portfolio structure, increase credit bonds and other investment, improve the proportion of the sale of bonds, increase band operation, in the same time to earn interest margin, expand exchange spread income. Explore the scale of investment in debt by means of self - liability. On the other hand, the degree of standardization of financial transactions, customer demand is increasingly strong, commercial banks must grasp the exchange rate market in the process of customer demand and hedging, and vigorously develop the exchange rate class trading business, increase the account of precious metals and other accounts to enhance the transaction activity and customer development, improve the development of commodity trading, and actively promote the development of interest rate, credit and other transactions.
4 to improve the operational risk tolerance, and promote the business process and customer service mode of the commercial banks
Market and customer demand is changing, but the commercial banks provided by the product service homogeneity is very obvious. Although commercial banks have realized the importance of service differentiation, and some attempt is made, but in general, the difference is still relatively low. At the same time, the business process of commercial banks is rigid and single, and not according to different business and different customers with different needs and different risks to design different business processes. In business practice, commercial banks are often based on the amount of business to divide the management authority, the high-end customers, quality customers and general customers to implement the same business processes, the lack of a variety of service models.
It is worth noting that, too rigid set, away from business practices, and even reduce the operational risk requirements of customers experience has begun to reduce business banking frontline staff to deal with business, improve efficiency, service customer enthusiasm, affecting its closest to the market and the most direct customer service business unit of combat, which may be "customer centered" business oriented to vacant, it is difficult to form "everyone concerned about customers, all service customers" benign service situation. To this end, commercial banks should also be appropriate to reduce the operation risk tolerance, in the process of service customers, the process of setting the process more humane, close to the market, enhance the applicability.
And, to enhance the enthusiasm and sense of responsibility, so that the form and substance of the operation risk, in order to avoid operational risk management and control to stay in the form, it is difficult to effectively play a role. At the same time, in a wider and deeper level of integration and development of resources, to break the long-term existence of the commercial banks information fragmentation, product sector and service homogenization bottleneck constraints, improve customer service level and competitive ability, to maximize meet customer's comprehensive financial needs. With the choice of non financial services closely related to the customer to the overall service to provide more value-added services to the high-end customers, from the homogenization of services to personalized, differentiated services.
5 to build a "due diligence" system, open the commercial banks to speed up the innovation of innovation
Appropriately increasing the risk tolerance will provide more space for innovation and innovation. The construction of the system of due diligence will solve the problem of how to solve the problem of innovation and change, and solve the problem of the positive and negative direction of the innovation. To determine the good "job" and "responsibility" two key elements, the "due diligence" to define, and clear the "free" form, for the courage to innovate and eliminate worries, according to regulations to protect innovation, tolerance of failure, open commercial banks to accelerate the innovation of innovation.
To this end, to build a "due diligence" system indicators. Define the scope of the "due diligence", a clear "exemption" form, the establishment of innovation and reform of the duty free indicators, including compliance, normative indicators, etc.. "Due diligence" innovation is the change in accordance with the procedures of decision, the decision compliance in accordance with the law, not for personal gain, there is no moral hazard to promote reform and innovation; "exemption" is due to national policies, natural disasters, major change can not force factor and failure to achieve expected target, the relevant departments and individuals can not be held accountable for or mitigated punishment. But if innovation chapter not to follow orders and prohibitions, do not have a strong sense of responsibility, the work is not in place, or the presence of moral hazard, and potential risk or loss, it is necessary to accountability for dereliction of duty, shall be prosecuted in accordance with regulations related responsibilities.
Three, commercial banks to seek innovative mechanisms to break through the measures
In order to continue to promote innovation and reform of commercial banks, but also focus on innovation and reform top design, strengthening innovation and strategic planning, create a climate of innovation, innovation and innovation to implement the system, and effectively protect the innovation and reform work has been implemented.
(a) to change the concept of risk, to build a culture of innovation and change
In the concept of risk and promote commercial banks from the "main concern" to "take into account the risk prevention and innovation development", from "strong control and risk prevention" to "active management and management risk", to enhance the ability to balance risk, based on the risk appetite and risk tolerance, deepen innovation and promote business development.
The innovation culture of the construction of practical science. With the construction of new type of banks as the starting point, and strive to cultivate the spirit of innovation. Combined with the actual encourage all business lines, all levels of organization and bank staffs, restless mind, bold innovation, make innovation constantly have new bright spot, a new improvement, new breakthroughs. To promote innovation and innovation of the outstanding achievements of collective and individual. Actively carry out the activities of the masses of financial research and theoretical research, and create a cultural atmosphere of innovation, respect for innovation and innovation and innovation.
(two) the emphasis on innovation from the strategic level, to strive for greater policy space
The innovation and Reform in the development of commercial banks in various products, business, all links, various management and various fields, from the breadth and depth of comprehensive innovation and reform. To expand new markets, new customers, new business and the implementation process, management, mechanism, institutional change as an important strategic task to accelerate the transformation and development, to achieve sustainable and steady growth.
Based on the current macroeconomic situation, the financial innovation and reform, the domestic regulatory attitude is gradually from the strict restriction to gradually release the transition, the recent launch of a variety of financial instruments, and continuously regulate financial markets. Commercial banks can make the best use of the circumstances and reasoned to regulatory authorities drew the needs of reform and innovation, to as much as possible for transformation and innovation first mover advantage, and converted to the dynamic, advanced and lasting core competitiveness.
(three) quasi entry point, the pilot implementation of the due diligence system
Building "due diligence exemption system in the aspects of product, business, services, processes, management and institutional mechanisms innovation and change, in the field of commercial bank still belongs to the essay exploring stage, according to the different area, different business line differences of endowments and comparative advantages, the pilot implementation of due diligence exemption" system.
Commercial banks can be considered in the national policy to support the economic and financial reform pilot areas (such as Shanghai free trade area, the former sea, Pingtan, Hengqin or Wenzhou) establish a base of innovation and change, the increase of innovation risk tolerance, due diligence exemption "system on a trial basis, to riser base layer to expand business flexibility, enthusiasm, give full play to the first demonstration and radiation driven utility, for commercial banks to develop innovative products and services, grasp the market opportunities, promote structural reform and provide important examples and guidelines, stimulate new vitality of the reform and development of the power.
At the same time, commercial banks can explore the implementation of innovation and reform, as long as the laws and regulations, national policy does not prohibit restrictions, to encourage bold reform and innovation, the law does not prohibit the freedom, and non law without authorization, the record of the local regulatory authorities and innovation can do, to break through the institutional barriers for commercial banks continued growth and structural adjustment to provide a more solid support. (omitted)
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