商业银行中间业务发展的国际比较-毕业论文外文翻译

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商业银行中间业务国际比较分析

综合以上分析，国银行中间业务收入占比最高的是我
而旗集团中间业务收入平均占比为６．５，于同行业最结算业务收入，美国则为资本市场收入。这与我国近年１８％属导至国际结算业务成为高，间业务收入占据了它们总收入的半壁江山。而我国来国际贸易的快速发展密切相关，中中间业务开展得比较早、务较大的中国银行中间业务收银行的一大亮点。而美国银行之所以能在资本市场方面取业主入占总收入的平均水平也才１．９，国外水平相差近三得巨额收益，要是因为美国对银行实行的是一种混业经３９与银保同四倍，外建设银行、商银行、通银行平均水平达不到营的模式，行可以参与证券、险行业，时由于美国金此工交融市场发育相对完善，融产品丰富，此为银行发展衍生金因ｌ％。Ｏ
收入占比年均为１。７，用卡业务收入占比年均为１．２６％信２７，中间业务收入占比最高的是资本市场收入，均占５而年
是银行的发展步伐。
（）整体上看，２从西方国家中间业务的品种及技术含量比达到２．９其中投资银行收入，券交易收入所占资２３％，证

商业银行中间业务的国际比较与发展战略

收稿日期:收稿日期:2003-6-6作者简介:张国海(1963-),男,安徽全椒人,安徽财贸学院金融系副教授,硕士生导师。

高　怿(1979.1-),男,安徽合肥人,安徽财贸学院金融系硕士研究生。

①系指爱立信南京分公司以中资银行无法提供保理业务为由转投花旗银行之事件。

2003年第8期(总278期)金　融　研　究Journal of Financial Research No .8,2003General No .278商业银行中间业务的国际比较与发展战略张国海　高　怿(安徽财贸学院金融研究所,安徽蚌埠　233041) 摘　要:中间业务的拓展是商业银行自身发展的内在要求。

本文通过中间业务发展的国际比较,系统地分析了中外商业银行在中间业务运作上的差异以及我国商业银行中间业务发展过程中存在的问题及其产生的原因,并就此提出若干具体对策。

关键词:商业银行中间业务;国际比较中图分类号:F832.2 文献标识码:A 文章编号:1002-7246(2003)08-0129-06 随着我国金融业对外开放程度的日益加深,中外银行业间的竞争日趋激烈,南京爱立信的“倒戈”①被业间普遍视作现时中外银行直面交锋的一个标志性事件。

竞争的加剧使得国内商业银行发展所面临的外部环境变得更为严峻。

在传统业务市场竞争惨烈、利润趋微的今天,积极寻求新的效益增长点、争取更大的生存空间、提高商业银行的经营绩效也因之变得尤为迫切。

在此背景下,风险小但收益颇丰的中间业务自然成为未来国际银行业竞争的焦点,对比地研究商业银行中间业务的拓展问题也因此显得意义重大。

一、商业银行中间业务发展的国际比较1994年至1998年间,我国四大国有商业银行的中间业务收入在其总收入中的比重在6.7-9.6%之间,仅占美国银行业1990年平均水平的22.66%。

而在1980年至1990年的10年间,外资银行中间收入占其总收入的比重则呈明显的快速上升趋势,美国银行的中间业务服务收入占其总收入的比重早已由1980年的22%上升到1996年的39%。

商业银行中间业务发展的国际比较【外文翻译】

外文原文：Intermediate business of commercial banks and the development of intermediate business of commercial banks in china with a comprehensive internationalAuther : Clus IrisFirst，The middle of a commercial banking business development of activity because of1.1An inevitable choice for commercial banksIntermediate business of commercial banks and the rapid development of the emergence of the underlying reasons are not only driven,but also the result of external factors.First of all,the international community to enter the countries have relaxed controls,the liberalization of banking and international trends,including greatly to the middle of the business,including the pace of fina ncial innovation;Second,market competition has also promoted the development of intermediary business,traditional business of commercial banks not only faced competition in the same industr y,and along with the development of capital market countries,greatly increased the proportion of direct financing,the traditional commercial banks assets,liabilities,business increasingly showing a"sunset industry"the decline,therefore,commercial banks were forced to carry out new busines s innovation to create a new source of profits;again,the middle of business innovation is the result of market demand,due to frequent fluctuations in interest rates and exchange rates,enterprises an d commercial banks in which the uncertainty of economic environment,increasing the risk of whi ch the effective management tools,in particular,a number of financial derivatives had a demand f or the development of the banking intermediary business that is risk management in order to satisf y customers,as well as other diversified financial services;Finally,the banks have their own adva ntages,as well as20practical information technology since the80's the development and extensiv e use of commercial banks for the development of intermediary business possible.February1987 at Northwestern University in the United States held a deposit-taking institutions on asset securitization and the risk of development of intermediary business se minar,a scholar on the development of commercial banks in themiddle of a large number of busin ess reasons for concluding,that is,commercial banks the development of intermediary business and technology,control,interest rate risk,customer competition,factors such as capital adequacy ratio are closely related.1.2The significance of the development of intermediary business(A)Can be extended into a commercial bank intermediary function,to expand their business scale.(B)Commercial banks can spread business risks,and enhance the bank's ability to resist risk s.(C)Can play a variety of business,"bundling"effect to enhance the competitiveness of the ba nks.Intermediate business of commercial banks between other business interaction and mutual inf luence,and the development of intermediary business for the banks not only bring direct profits,b ut also with other business,the second interaction of the market to enhance the competitiveness of banks.Second,commercial banks in the development of intermediary business2.1The broader business scope,a wide variety.Western countries of the middle-run commercial banks and a wide variety of products to meet the diverse needs of customers,the c ommercial banks for the new business innovation.The scope of business covered by the middle of the traditional banking,trust services,investment banking,mutual funds and insurance business. They can engage in money market operations,but also can engage in discounting commercial pap er and capital markets business.2.2 Gradually expand the business scale of,rising income levels.From1993to1996among the U.S.banking business grew from912billion U.S.dollars to1 2.188trillion U.S.dollars,accounting for bank assets from78%to142.9%,of which the seven lar gest banks in the middle of the business lending per cent more than doubled and more.Living in t he forefront of the U.S.banking industry,Citigroup,the Americas,such as the middle of the five m ajor banking groups involved in the operational activities of the total assets of more than2.2trillio n U.S.dollars has the same period,assets and liabilities that banks under the total assets of780bill ion U.S.dollars for the capital sum for the45billion U.S.dollars;intermediary business3years th e average growth rate to54.2%,much higher than the9percent average annual total assets and tot al capital at an average annual growth rate of21.6percent.2.3Middle-income structure of the business change.Western commercial banks from1980to1990of10years,the total income of non-spread revenue rapid upward trend in both.The middle of foreign banks operating income generall y accounts for40%of total revenue-50%.Acceptance in the United States,Citibank,credit investigation,credit rating companies,asse ts evaluation business,personal financial advisor business,long-term foreign exchange trading,foreign exchange futures,foreign exchange options,and other inter mediary business represented80percent brought their profits deposit and lending business profits accounted for only20%of the total profits.2.4Service means of advanced and high technology.Improvement in the level of science and technology for the development of intermediate busi ness of commercial banks to provide a strong foundation for technical support and innovation,esp ecially in recent years can be at any time and any place in any way to provide customers with pers onalized service network of banks,the emergence of Internet banking promoted thedevelopment o f intermediary business.With the international advanced banking payment system on its strong bu siness in the middle was a huge amount of service fee revenue.Third,commercial banks Analysis of intermediate products3.1Clearing-type intermediate productsClearing products are usually divided into promissory notes,bills ofexchange,the three types of checks.Settlement of funds between the time of the settlement a ct,for the customers,the main demand is to use the banking clearing system,security and timely tr ansfer of funds.Settlement is therefore a means of clearing operations to ensure the successful co mpletion of an important link.On the characteristics of the clearing business,its risk may come fr om three aspects:customer risk factors,risk factors of post and telecommunications sector and ba nking risk factors.For the banks,the first two banks of external risks,which is the bank's internal r isk.3.2security type of intermediate productsWith the development of international trade,the Western commercialbanks faster development of the security business,including standby letters of credit,guarantee the payment,performa nce bond,bid security,supervision,such as payment by the common varieties.Chinese and foreig n commercial banks,the security business is production of the intermediate business with commer cial banks to carry out security operations is the use of banks to provide credit support,that one ha s to bear because of the risks associated with credit support.3.3Intermediate goods ManagementMainly divided into the banking business,safe operations,Personal Financial Services.Si nce the last century is the era,as the world's financial system,industry structure,organizational str ucture,operational modalities and competition is undergoing a profound transformation.The chan ges in the traditional banking,securities,insurance,trust business increasingly blurred boundaries between the business,while seeking to promote and strengthen the commercial banking and financ ial activities of globalization and virtualorganizations,the banks of the insurance industry to flourish here development.With the develop ment of the world economy,personal financial services showing a huge space for development.A nd personal financial services customers of commercial banks is the core personal financial servic es in the commercial banks to the"financial services supermarket"the process of development,pe rsonal financial services of commercial banks at home and abroad has become the focal point of re tail business one.3.4Advisory type of intermediate productsIntermediary business consulting category refers to the transfer,sale information and provi de intelligence services to the main contents of theintermediary mercial banks on th eir own information,talent,credibility and other areas,the collection and presentation of informati on and information of these customers,as well as banks and financial analysis of campaign record s to form a system of information and programs made available to customers,one to meet their ma nagement or business development needs.Include:credit,corporate credit rating,assets evaluation business and financial information;business and personal financial advisor business;business con sultant business investment and financing,including financing and the international syndicated loa n arrangement.3.5bank cards,online banking intermediate productsBank credit card is the issue of commercial banks to the community with consumer credit, debit settlement,access to cash in whole or in part,such as a credit payment function.Its fast dev elopment,many countries have become an important business,many banks and the major source o f profit for variety.Internet banking is a banking service to provide customers with new tools,whic h the existing banking business,based on the use of Internet technology to provide customers with comprehensive,consent,security,real-time financial services.Internet banking is not only a banking innovation is the organizational stru cture of a bank.At the same time,the emergence of Internet banking so that the expansion of com mercial banks to find new channels for the middle of the business.Fourth,the middle of the latest developments in the direction of business4.1 Securitization of credit assetsSecuritization of credit assets refers to a group of poor liquidity through a portfolio of assets, so that this group of assets to generate stable and predictable cash flow proceeds through the inter mediary of certain credit enhancement,the proceeds of these assets the right to change as flows in the financial markets,higher credit rating of bond-type securities.In essence,will be financing the securitization of future cash proceeds of the assets and the corresponding right to transfer the risk to investors,and the transfer of ownership of the a ssets may not be entirely.4.2fund businessA long time,China's commercial banks to develop intermediary business not as a main indus try and the new profit growth point to run,but also our country's strict separation of management a nd other factors,so that the development of the banking sector has been greater restrictions.A dire ct consequence of these restrictions is that domestic commercial banks and weak financial innovat ion.Have been carried out in the middle of the retail business of the development of varieties,not to profit maximization as the goal,but as absorbing as a means of customer deposits,which resulte d in business receipts in the middle of the contribution rate for banks with low profit situation.Co mmercial banks in China's current total income,the proportion of all interesincome more than90 %.This revenue structure is to enable the assets of China's commercial banks profitability in the la st century since the90's has been in a continuous downward trend in one of the main reasons.Stud ies have shown that commercial banks in the U.S.the average asset profit rate of China's four state -owned commercial banks average of12.86times.This shows that the middle of my business cards ,many types of projects though,but their purpose and profit with the situation in Western develop ed countries,significant differences between the modern commercial banking business and a lot of content has yet to enter our field of vision.Fifth, China’s commercial banks lag in the middle of the easons for business development5.1on the traditional state-owned commercial businesses,as well as the long-term monopoly control of the central bank's interest rates led directly to commercial banks t o create a modern inadequate.From abroad,the development of banking business,the increasingly intensified competiti on in the market forces and customers is to continuously strengthen the bank to speed up the expa nsion of the main reasons fornon-margin business.China's banking industry from the historical path of development,the historical f actors strangle a certain extent,the domestic commercial banks to expand their business and the au tonomy of consciousness."Unification"of thinking,as well as the banking system more rigid dom estic commercial banks used to make the government's command,the lack of response to the econ omic situation to customers and the market as guide,based on the formulation and implementation of their own advantages for their own development strategies of motivation and ability.5.2the development of intermediate business of commercial banks led to a substantial ri sk of financial regulation will make the existing system is facing tremendous pressure.The financial sector at the policy orientation of business limits the room for the development of int ermediary business.Most of the middle of the business belonging to banks and non-bank financial institutions operating in the field of cross-cutting,so inrong the state's macroeconomic management policies of banks,non-bank financial institutions,the limited scope of business directly determines the intermediate busin ess of commercial banks to open up space.I started in1993from a banking,securities,insurance, trust the strict separation of management,the banks can not create a cross-sectoral,comprehensive,multi-faceted business intermediate products,it is difficult to raise the level of business and level of intensive5.3Bank charges among the business and the lack of standardization.In the absence of corresponding fees and charges based mechanism,the intermediary busines s difficult and hard to charge fees,particularly the phenomenon of table.Charges not specifically r eflected in the financiainstitutions among the business no express provision charges.Difficult to c harge in fees and charges due to lack of enforcement mechanism,financial institutions are afraid of arbitrary collection of charges the suspect.5.4China's banking industry has developed the"marketing model"and the"marketing habit"has severely constrained the development of intermediary business.From foreign banks to expand business model point of view,primarily by the consumer to fac ilitate this,fast,safe and customer service benefits,are a typical"product marketing."As for the d omestic banking industry,the product quality and price are often relegated to a secondary position, "relationship marketing"has become the domestic banking industry to explore the middle of the main mode of business.At present,commercial banks remain the main customer base to large and medium-sized state-owned enterprises,state-owned enterprises and property rights Fuzzy principal-agent problem makes enterprise managers pay more attention to the pursuit of personalinterests,at this time the relationship between banks a nd their customers has become a successful product whether or not the key.外文译文正文：商业银行中间业务发展的国际比较一、商业银行中间业务发展的原因：1.1商业银行的必然选择商业银行及相关原因出现快速发展的中间业务不仅推动，也是外部因素造成的。

我国商业银行中间业务与其发展的综合国际之间的比较【外文翻译】

外文翻译原文Intermediate business of commercial banks and the development of intermediate business of commercial banks in China with a comprehensive internationalcomparisonMaterial Source:/Article_en/CJTotal-BUSI200422051.htmAuthor:LIU He1.1 The broader business scope, a wide variety.Western countries of the middle-run commercial banks and a wide variety of products to meet the diverse needs of customers, the commercial banks for the new business innovation. The scope of business covered by the middle of the traditional banking, trust services, investment banking, mutual funds and insurance business. They can engage in money market operations, but also can engage in discounting commercial paper and capital markets business.Gradually expand the business scale of1.2 rising income levels.From 1993 to 1996 among the U.S. banking business grew from 912 billion U.S. dollars to 12.188 trillion U.S. dollars, accounting for bank assets from 78% to 142.9%, of which the seven largest banks in the middle of the business lending per cent more than doubled and more. Living in the forefront of the U.S. banking industry, Citigroup, the Americas, such as the middle of the five major banking groups involved in the operational activities of the total assets of more than 2.2 trillion U.S. dollars has the same period, assets and liabilities that banks under the total assets of 780 billion U.S. dollars for the capital sum for the 45 billion U.S. dollars; intermediary business 3 years the average growth rate to 54.2%, much higher than the 9 percent average annual total assets and total capital at an average annual growth rate of 21.6 percent.1.3 Middle-income structure of the business change.Western commercial banks from 1980 to 1990 of 10 years, the total income of non-spread revenue rapid upward trend in both. The middle of foreign banksoperating income generally accounts for 40% of total revenue -50%. Acceptance in the United States, Citibank, credit investigation, credit rating companies, assets evaluation business, personal financial advisor business, long-term foreign exchange trading, foreign exchange futures, foreign exchange options, and other intermediary business represented 80 percent brought their profits deposit and lending business profits accounted for only 20% of the total profits.1.4 Service means of advanced and high technology.Improvement in the level of science and technology for the development of intermediate business of commercial banks to provide a strong foundation for technical support and innovation, especially in recent years can be at any time and any place in any way to provide customers with personalized service network of banks, the emergence of Internet banking promoted the development of intermediary business. With the international advanced banking payment system on its strong business in the middle was a huge amount of service fee revenue.Third, commercial banks Analysis of intermediate products2.1 Clearing-type intermediate productsClearing products are usually divided into promissory notes, bills of exchange, the three types of checks. Settlement of funds between the time of the settlement act, for the customers, the main demand is to use the banking clearing system, security and timely transfer of funds. Settlement is therefore a means of clearing operations to ensure the successful completion of an important link. On the characteristics of the clearing business, its risk may come from three aspects: customer risk factors, risk factors of post and telecommunications sector and banking risk factors. For the banks, the first two banks of external risks, which is the bank's internal risk.2.2 security type of intermediate productsWith the development of international trade, the Western commercial banks faster development of the security business, including standby letters of credit, guarantee the payment, performance bond, bid security, supervision, such as payment by the common varieties. Chinese and foreign commercial banks, the security business is production of the intermediate business with commercial banks to carry out security operations is the use of banks to provide credit support, that one has to bear because of the risks associated with credit support. Intermediate goods2.3 Management Mainly divided into the banking business, safe operations, Personal Financial Services.Since the last century is the era, as the world's financial system, industry structure, organizational structure, operational modalities and competition is undergoing a profound transformation. The changes in the traditional banking, securities, insurance, trust business increasingly blurred boundaries between the business, while seeking to promote and strengthen the commercial banking and financial activities of globalization and virtual organizations, the banks of the insurance industry to flourish here development. With the development of the world economy, personal financial services showing a huge space for development. And personal financial services customers of commercial banks is the core personal financial services in the commercial banks to the "financial services supermarket" the process of development, personal financial services of commercial banks at home and abroad has become the focal point of retail business one.2.4 Advisory type of intermediate productsIntermediary business consulting category refers to the transfer, sale information and provide intelligence services to the main contents of the intermediary business. Commercial banks on their own information, talent, credibility and other areas, the collection and presentation of information and information of these customers, as well as banks and financial analysis of campaign records to form a system of information and programs made available to customers, one to meet their management or business development needs. Include: credit, corporate credit rating, assets evaluation business and financial information; business and personal financial advisor business; business consultant business investment and financing, including financing and the international syndicated loan arrangement.2.5 bank cards, online banking intermediate productsBank credit card is the issue of commercial banks to the community with consumer credit, debit settlement, access to cash in whole or in part, such as a credit payment function. Its fast development, many countries have become an important business, many banks and the major source of profit for variety. Internet banking is a banking service to provide customers with new tools, which the existing banking business, based on the use of Internet technology to provide customers with comprehensive, consent, security, real-time financial services. Internet banking is not only a banking innovation is the organizational structure of a bank At the same time, the emergence of Internet banking so that the expansion of commercial banks to find new channels for the middle of the business.Fourth, the middle of the latest developments in the direction of business Securitization of credit assets3.1 Securitization of credit assets refers to a group of poor liquidity through a portfolio of assets, so that this group of assets to generate stable and predictable cash flow proceeds through the intermediary of certain credit enhancement, the proceeds of these assets the right to change as flows in the financial markets, higher credit rating of bond-type securities. In essence, will be financing the securitization of future cash proceeds of the assets and the corresponding right to transfer the risk to investors, and the transfer of ownership of the assets may not be entirely.3.2 fund business A long time, China's commercial banks to develop intermediary business not as a main industry and the new profit growth point to run, but also our country's strict separation of management and other factors, so that the development of the banking sector has been greater restrictions. A direct consequence of these restrictions is that domestic commercial banks and weak financial innovation. Have been carried out in the middle of the retail business of the development of varieties, not to profit maximization as the goal, but as absorbing as a means of customer deposits, which resulted in business receipts in the middle of the contribution rate for banks with low profit situation. Commercial banks in China's current total income, the proportion of all interest income more than 90%. This revenue structure is to enable the assets of China's commercial banks profitability in the last century since the 90's has been in a continuous downward trend in one of the main reasons. Studies have shown that commercial banks in the U.S. the average asset profit rate of China's four state-owned commercial banks average of 12.86 times. This shows that the middle of my business cards, many types of projects though, but their purpose and profit with the situation in Western developed countries, significant differences between the modern commercial banking business and a lot of content has yet to enter our field of vision.4 China's commercial banks lag in the middle of the reasons for business development4.1 on the traditional state-owned commercial businesses, as well as the long-term monopoly control of the central bank's interest rates led directly to commercial banks to create a modern inadequate.From abroad, the development of banking business, the increasingly intensified competition in the market forces and customers is to continuously strengthen the bank to speed up the expansion of the main reasons for non-margin business. China'sbanking industry from the historical path of development, the historical factors strangle a certain extent, the domestic commercial banks to expand their business and the autonomy of consciousness. "Unification" of thinking, as well as the banking system more rigid domestic commercial banks used to make the government's command, the lack of response to the economic situation to customers and the market as guide, based on the formulation and implementation of their own advantages for their own development strategies of motivation and ability.4.2 the development of intermediate business of commercial banks led to a substantial risk of financial regulation will make the existing system is facing tremendous pressure.The financial sector at the policy orientation of business limits the room for the development of intermediary business. Most of the middle of the business belonging to banks and non-bank financial institutions operating in the field of cross-cutting, so inrong the state's macroeconomic management policies of banks, non-bank financial institutions, the limited scope of business directly determines the intermediate business of commercial banks to open up space. I started in 1993 from a banking, securities, insurance, trust the strict separation of management, the banks can not create a cross-sectoral, comprehensive, multi-faceted business intermediate products, it is difficult to raise the level of business and level of intensive4.3 Bank charges among the business and the lack of standardization.In the absence of corresponding fees and charges based mechanism, the intermediary business difficult and hard to charge fees, particularly the phenomenon of table. Charges not specifically reflected in the financial institutions among the business no express provision charges. Difficult to charge in fees and charges due to lack of enforcement mechanism, financial institutions are afraid of arbitrary collection of charges the suspect.4.4 China's banking industry has developed the "marketing model" and the "marketing habit" has severely constrained the development of intermediary business.From foreign banks to expand business model point of view, primarily by the consumer to facilitate this, fast, safe and customer service benefits, are a typical "product marketing." As for the domestic banking industry, the product quality and price are often relegated to a secondary position, "relationship marketing" has become the domestic banking industry to explore the middle of the main mode of business. At present, commercial banks remain the main customer base to large andmedium-sized state-owned enterprises, state-owned enterprises and property rights Fuzzy principal - agent problem makes enterprise managers pay more attention to the pursuit of personal interests, at this time the relationship between banks and their customers has become a successful product whether or not the key.译文我国商业银行中间业务与其发展的综合国际之间的比较资料来源: /Article_en/CJFDTotal-BUSI200422051.htm作者：Liu He1.1 品种繁多发展的商业银行商业银行的中间业务和西方国家的各种产品，可以满足客户的多样化需求，为商业银行中间业务创新做好准备。

中国商业银行中间业务与发展的国际比较【外文翻译】

外文翻译原文Intermediate business of commercial banks and the development of intermediate business of commercial banks in China with a comprehensive internationalcomparisonMaterial Source: China Daily. (North American Ed.) New York, N.YAuthor: Tobias AdrianFirst, The middle of a commercial banking business development activity because of1.1 An inevitable choice for commercial banksIntermediate business of commercial banks and the rapid development of the emergence of the underlying reasons are not only driven, but also the result of external factors. First of all, the international community to enter the countries have relaxed controls, the liberalization of banking and international trends, including greatly to the middle of the business, including the pace of financial innovation; Second, market competition has also promoted the development of intermediary business, traditional business of commercial banks not only faced competition in the same industry, and along with the development of capital market countries, greatly increased the proportion of direct financing, the traditional commercial banks assets, liabilities, business increasingly showing a "sunset industry" the decline, therefore, commercial banks were forced to carry out new business innovation to create a new source of profits; again, the middle of business innovation is the result of market demand, due to frequent fluctuations in interest rates and exchange rates, enterprises and commercial banks in which the uncertainty of economic environment, increasing the risk of which the effective management tools, in particular, a number of financial derivatives had a demand for the development of the banking intermediary business that is risk management in order to satisfy customers, as well as other diversified financial services; Finally, the banks have their own advantages, as well as 20 practical information technology since the 80's the development and extensive use of commercial banks for the development of intermediary business possible. February 1987 at Northwestern University in the United States held adeposit-taking institutions on asset securitization and the risk of development of intermediary business seminar, a scholar on the development of commercial banks in the middle of a large number of business reasons for concluding, that is, commercial banks the development of intermediary business and technology, control, interest rate risk, customer competition, factors such as capital adequacy ratio are closely related.1.2 The significance of the development of intermediary business(A) Can be extended into a commercial bank intermediary function, to expand their business scale.(B) Commercial banks can spread business risks, and enhance the bank's ability to resist risks.(C) Can play a variety of business, "bundling" effect to enhance the competitiveness of the banks. Intermediate business of commercial banks between other business interaction and mutual influence, and the development of intermediary business for the banks not only bring direct profits, but also with other business, the second interaction of the market to enhance the competitiveness of banks.Second, commercial banks in the development of intermediary business2.1 The broader business scope, a wide variety.Western countries of the middle-run commercial banks and a wide variety of products to meet the diverse needs of customers, the commercial banks for the new business innovation. The scope of business covered by the middle of the traditional banking, trust services, investment banking, mutual funds and insurance business. They can engage in money market operations, but also can engage in discounting commercial paper and capital markets business.2.2 Gradually expand the business scale of rising income levels.From 1993 to 1996 among the U.S. banking business grew from 912 billion U.S. dollars to 12.188 trillion U.S. dollars, accounting for bank assets from 78% to 142.9%, of which the seven largest banks in the middle of the business lending per cent more than doubled and more. Living in the forefront of the U.S. banking industry, Citigroup, the Americas, such as the middle of the five major banking groups involved in the operational activities of the total assets of more than 2.2 trillion U.S. dollars has the same period, assets and liabilities that banks under the total assets of 780 billion U.S. dollars for the capital sum for the 45 billion U.S. dollars; intermediary business 3 years the average growth rate to 54.2%, muchhigher than the 9 percent average annual total assets and total capital at an average annual growth rate of 21.6 percent.2.3 Middle-income structure of the business change.Western commercial banks from 1980 to 1990 of 10 years, the total income of non-spread revenue rapid upward trend in both. The middle of foreign banks operating income generally accounts for 40% of total revenue -50%. Acceptance in the United States, Citibank, credit investigation, credit rating companies, assets evaluation business, personal financial advisor business, long-term foreign exchange trading, foreign exchange futures, foreign exchange options, and other intermediary business represented 80 percent brought their profits deposit and lending business profits accounted for only 20% of the total profits.2.4 Service means of advanced and high technology.Improvement in the level of science and technology for the development of intermediate business of commercial banks to provide a strong foundation for technical support and innovation, especially in recent years can be at any time and any place in any way to provide customers with personalized service network of banks, the emergence of Internet banking promoted the development of intermediary business. With the international advanced banking payment system on its strong business in the middle was a huge amount of service fee revenue.Third, commercial banks Analysis of intermediate products3.1 Clearing-type intermediate productsClearing products are usually divided into promissory notes, bills of exchange, the three types of checks. Settlement of funds between the times of the settlement act, for the customers, the main demand is to use the banking clearing system, security and timely transfer of funds. Settlement is therefore a means of clearing operations to ensure the successful completion of an important link. On the characteristics of the clearing business, its risk may come from three aspects: customer risk factors, risk factors of post and telecommunications sector and banking risk factors. For the banks, the first two banks of external risks, this is the bank’s internal risk.3.2 security type of intermediate productsWith the development of international trade, the Western commercial banks faster development of the security business, including standby letters of credit, guarantee the payment, performance bond, bid security, supervision, such as payment by the common varieties. Chinese and foreign commercial banks, thesecurity business is production of the intermediate business with commercial banks to carry out security operations is the use of banks to provide credit support that one has to bear because of the risks associated with credit support.3.3 Intermediate goods ManagementMainly divided into the banking business, safe operations, Personal Financial Services. Since the last century is the era, as the world's financial system, industry structure, organizational structure, operational modalities and competition is undergoing a profound transformation. The changes in the traditional banking, securities, insurance, and trust business increasingly blurred boundaries between the business, while seeking to promote and strengthen the commercial banking and financial activities of globalization and virtual organizations, the banks of the insurance industry to flourish here development. With the development of the world economy, personal financial services showing a huge space for development. And personal financial services customers of commercial banks is the core personal financial services in the commercial banks to the "financial services supermarket" the process of development, personal financial services of commercial banks at home and abroad has become the focal point of retail business one.3.4 Advisory type of intermediate productsIntermediary business consulting category refers to the transfer, sale information and provide intelligence services to the main contents of the intermediary business. Commercial banks on their own information, talent, credibility and other areas, the collection and presentation of information and information of these customers, as well as banks and financial analysis of campaign records to form a system of information and programs made available to customers, one to meet their management or business development needs. Include: credit, corporate credit rating, assets evaluation business and financial information; business and personal financial advisor business; business consultant business investment and financing, including financing and the international syndicated loan arrangement.3.5 bank cards, online banking intermediate productsBank credit card is the issue of commercial banks to the community with consumer credit, debit settlement, access to cash in whole or in part, such as a credit payment function. Its fast development, many countries have become an important business, many banks and the major source of profit for variety. Internet banking is a banking service to provide customers with new tools, which the existing bankingbusiness, based on the use of Internet technology to provide customers with comprehensive, consent, security, real-time financial services. Internet banking is not only a banking innovation is the organizational structure of a bank. At the same time, the emergence of Internet banking so that the expansion of commercial banks to find new channels for the middle of the business.Fourth, the middle of the latest developments in the direction of business4.1 Securitization of credit assetsSecuritization of credit assets refers to a group of poor liquidity through a portfolio of assets, so that this group of assets to generate stable and predictable cash flow proceeds through the intermediary of certain credit enhancement, the proceeds of these assets the right to change as flows in the financial markets, higher credit rating of bond-type securities. In essence, will be financing the securitization of future cash proceeds of the assets and the corresponding right to transfer the risk to investors, and the transfer of ownership of the assets may not be entirely.4.2 fund businessA long time, China's commercial banks to develop intermediary business not as a main industry and the new profit growth point to run, but also our country's strict separation of management and other factors, so that the development of the banking sector has been greater restrictions. A direct consequence of these restrictions is that domestic commercial banks and weak financial innovation. Have been carried out in the middle of the retail business of the development of varieties, not to profit maximization as the goal, but as absorbing as a means of customer deposits, which resulted in business receipts in the middle of the contribution rate for banks with low profit situation. Commercial banks in China's current total income, the proportion of all interest income more than 90%. This revenue structure is to enable the assets of China's commercial banks profitability in the last century since the 90’s have been in a continuous downward trend in one of the main reasons. Studies have shown that commercial banks in the U.S. the average asset profit rate of China's four state-owned commercial banks average of 12.86 times. This shows that the middle of my business cards, many types of projects though, but their purpose and profit with the situation in Western developed countries, significant differences between the modern commercial banking business and a lot of content has yet to enter our field of vision.Fifth, China's commercial banks lag in the middle of the reasons for business development5.1 on the traditional state-owned commercial businesses, as well as the long-term monopoly control of the central bank's interest rates led directly to commercial banks to create a modern inadequate.From abroad, the development of banking business, the increasingly intensified competition in the market forces and customers is to continuously strengthen the bank to speed up the expansion of the main reasons for non-margin business. China's banking industry from the historical path of development; the historical factors strangle a certain extent, the domestic commercial banks to expand their business and the autonomy of consciousness. "Unification" of thinking, as well as the banking system more rigid domestic commercial banks used to make the government's command, the lack of response to the economic situation to customers and the market as guide, based on the formulation and implementation of their own advantages for their own development strategies of motivation and ability.5.2 The development of intermediate business of commercial banks led to a substantial risk of financial regulation will make the existing system is facing tremendous pressure.The financial sector at the policy orientation of business limits the room for the development of intermediary business. Most of the middle of the business belonging to banks and non-bank financial institutions operating in the field of cross-cutting, so inuring the state's macroeconomic management policies of banks, non-bank financial institutions, the limited scope of business directly determines the intermediate business of commercial banks to open up space. I started in 1993 from banking, securities, insurance, trust the strict separation of management, the banks can not create a cross-sect oral, comprehensive, multi-faceted business intermediate products, and it is difficult to raise the level of business and level of intensive.5.3 Bank charges among the business and the lack of standardization.In the absence of corresponding fees and charges based mechanism, the intermediary business difficult and hard to charge fees, particularly the phenomenon of table. Charges not specifically reflected in the financial institutions among the business no express provision charges. Difficult to charge in fees and charges due to lack of enforcement mechanism, financial institutions are afraid of arbitrary collection of charges the suspect.5.4 China's banking industry has developed the "marketing model" and the "marketing habit" has severely constrained the development of intermediary business.From foreign banks to expand business model point of view, primarily by the consumer to facilitate this, fast, safe and customer service benefits, are a typical "product marketing." As for the domestic banking industry, the product quality and price are often relegated to a secondary position; "relationship marketing" has become the domestic banking industry to explore the middle of the main mode of business. At present, commercial banks remain the main customer base to large and medium-sized state-owned enterprises, state-owned enterprises and property rights Fuzzy principal - agent problem makes enterprise managers pay more attention to the pursuit of personal interests, at this time the relationship between banks and their customers has become a successful product whether or not the key.译文中国商业银行中间业务与发展的国际比较资料来源:China Daily.(North American Ed.) New York,N.Y作者：Tobias Adrian1.商业银行中间业务发展的原因：1.1 商业银行的必然选择商业银行中间业务的出现以及快速发展的根本原因并不是单纯的，而是外部环境综合作用的结果。

中国银行业的改革和盈利能力毕业论文中英文资料对照外文翻译文献综述

中英文资料对照外文翻译文献综述China’s Banking Reform and Profitability1Erh-Cheng Hwa Yang Lei1. IntroductionThe World Bank (1997) once claimed that China’s financial sector was the soft-belly in the economy. Financial sector reform has long been argued as necessary to raise efficiency in the use of the capital and in rebalancing the economy toward consumption-based growth, without which the country’s growth sustainability is in jeopardy (see Lardy, 1998; Prasad, 2007).Indeed, not too long ago, China’s state banks were deemed “technically insolvent”and their survival hinged solely on the nation’s abundant liquidity.However, after the launching of banking reform, strong profitability has returned to state commercial banks recently. But it may be too early to declare a complete victory on banking reform as yet, since Chinese state banks have embarked on the path of reform not too long ago. In addition,their strong financial performance has ridden on the back of strong but unsustainable growth. As growth has begun to soften under the weight of a global recession in 2008, banks are expected to navigate in a more difficult economic terrain than hitherto. The aim of this paper is not to evaluate the effect of banking reform on bank performance, which is better tackled after the completion of a full credit cycle. Rather, our aim is to take stock of the progress in reforming China’s state banks by reviewing the banking reformstrategy and analyzing their recent strong post-reform financial performancewhich, however, cannot be entirely separated from reforms efforts1Review of Pacific Basin Financial Markets and PoliciesVol. 13, No. 2 (2010) 215–236©World Scientific Publishing Co.and Center for Pacific Basin Business, Economics and Finance ResearchDOI: 10.1142/S0219091510001925undertaken thus far.This paper has three sections. In Section 2, we review the reform strategy of China’s large state banks, which is the main thrust of China’s banking reform, as well as its implementation. The Section 3 analyzes 2007 financial performance focusing on the four largest state commercial banks that have floated shares in the market: Industrial Commercial Bank of China (ICBC),China Construction Bank (CCB), Bank of China (BOC), and Bank of Communications (BOCOM). The conspicuous exception is Agriculture Bank of China (ABC), which is still in the process of restructuring for market listing at an appropriate time later. Section 4 concludes with an assessment on bank performance.2. Bank Reform Strategy and Its Implementation2.1. Bank reform strategyBefore reform, state banks were solely owned by the State and served national economic policy goals.1 Since they were not wholly profit-making commercial entities, common commercial banking criteria for evaluating their financial performance do not apply strictly. Nevertheless, as soon as the country decided to embark upon the path of a socialist market economy in the October 1992 CCP Congress, commercialization of the state banks had become a foregone conclusion. The goal of banking reform is to turn state banks into commercial entities that are competitive in the marketplace and can provide efficient intermediation of the nation’s saving. Given their dominance in financial intermediation, the banks play a crucial role in the efficient allocation of capital.2.1.1. Creating the enabling environment for banking reformThe country’s market reform and opening program has greatly accelerated since 1992 when in October that year the 14th CCP Congress declared that the goal of reform and opening was to create a socialist market economy,which effectively ended the experimental nature of economic reform and opening program launched since the late 1970s. The firming up of market-oriented reforms has created an enabling environment for a host of reforms central to the socialist market economy construct including foremost the banking reform. In early 1994, in response to the inflation threat, the government launched macroeconomic reform encompassing central banking,exchange rate management, and fiscal policy and taxation. The macroeconomic reform permitted the central authorities to regain macroeconomiccontrol lost to local authorities in the decade of the 1980s under the decentralization policy of “fang quan rang li”.2 While decentralization ushered a period of rapid growth, it also generated significant macroeconomic instability.Indeed, the pursuit of macroeconomic reform significantly dampened macroeconomic cycles in the 1990s. Second, in the same year, the government created three policy banks —State Development Bank, Agriculture Development Bank, China ExportImport Bank —to relieve state commercial banks of their traditional policy mandates.Third, the government promulgated central banking and commercial banking laws in 1995 to provide the legal foundation for banking reform.Fourth, beginning from 1996 the government began to vigorously pursuit enterprise reform that paved the way for banking reform, even this resulted in large and painful layoffs of redundant state workers. Pursuingenterprise reform ahead of banking reform was necessary considering that state-owned enterprises were the main clients of state banks and hence their main source of non-performing loans NPLs, which was at the same time the contingent liability to the government. Hence, unless the reform of stateowned enterprises takes hold, any reform effort of the state banks would be in vain. On the other hand, as soon as the state-owned enterprise reform was pressed forward, the banking reform could no longer be postponed. This is because as state-owned enterprises were restructured, liquidated, merged, or bankrupted out of existence, the banks must start to recognize the hidden losses on their books. This, in turn, triggered the need to recapitalize the banks, as a large amount of non-performing loan was written-off.Fifth, the State Council in February 2002 decided to reform solely stateowned commercial banks into internationally competitive financial enterprises, transform them into state-controlled shareholding commercial banks,and encourage listing their shares in the market.Sixth, China Banking Supervisory Committee was created in 2003 to raise the regulatory capacity to supervise banks. Finally, adhering to the 2001 WTO accession agreement, the government uses the entry of foreign banks into the local banking market to inject competitive pressure to the local banking industry in order to gain efficiency. Beginning from the end of 2006, foreign banks can engage in local currency business.2.1.2. Reforming corporate governance and restructuringthe balance sheetThe country’s large state banks have followed several steps to undertake internal corporate reform. The first is to reform the corporate governance by inviting other investors to dilute the sole state ownership while still retaining its dominance. In particular, the banks have made an effort to seek foreign strategic partnership with the view to bringing in modern banking practices and technology. The broadening of ownership also entails selling a portion of bank shares to the equity market to make bank management accountable to the marketplace. To successfully woo outside investors, be it strategic partners or public investors, the banks must put forward a creditable inhouse reform plan and implement it credibly. No doubt, the better and more credible the internal reform plan is, the more likely it is for the banks to attract reputable outside partners and fetch a better deal with their counterparts or in the equity market.Hence, the first step the government undertook was to strengthen the balance sheet of state banks whose credit flows had been clogged up by inadequate capital and piles of bad debts accumulated under the previous economic planning regime. In 1998, the government issued RMB270 billion (US$32.6 billion) worth of 30-year fiscal bonds to recapitalize the balance sheets of the four largest state banks: ICBC, BOC, CCB, and ABC in order to comply with the international capital adequacy standards. Again, on December 30, 2003, the government provided US$22.5 billion each to CCB and BOC, with US$15 billion provided later in April 2005 to ICBC to support their respective listings in the Hong Kong stock exchange.Among the four largest state banks, CCB was the first to have its shares successfully listed in the Hong Kong stock exchange and thus the first to have its reform effort passed by the market test. In addition, as part of the scheme of recapitalization, the banks also issued subordinated debt to the local market:BOC, RMB60 billion; CCB, RMB40 billion; ICBC, RMB35 billion; and BOCOM, RMB12 billon.In 1999, the government created four asset management corporations AMCs, one for each of the “big four”: ICBC, CCB, BOC, and ABC, to manage RMB1.4 trillion of loans purchased from the books of the state banks at face value, of which 1.3 trillion were deemed non-performing (about 15% of GDP). The transaction was financed partly by central bank loan(RMB573 billion) and partly by treasury bonds (RMB820 billion). A second transferring of NPLs in the amount of RMB1.186 trillionto the AMCs took place during the period from June 2004 through June 2006.The banks also launched reform measures to improve internal management including strengthening the human resource base, introducing modern risk management practices, and moving up the standard of NPL classification to comply with the international standards.2.2. Implementation of reform2.2.1. Seeking diversification and attracting foreign strategic partners Following the blueprint of reform, the banks have successfully launched and implemented the reform strategy. ICBC, CCB, BOC, and BOCOM all have their full state stake in the company diluted to below 70% by incorporating non-state ownerships, which includes foreign ownership, domestic legal persons, and public ownership (publicly owned and traded shares). Among non-state owners, foreign strategic partnership usually has the highest stake in the company: ICBC, 7.2%, BOC, 13.9%, CCB, 10.3%, and BOCOM,18.7% (Table 1).The participation of foreign and domestic capital as well as public shares in state commercial banks has not only strengthened bank capital, but also exerted a positive influence on the corporate governance, in particular in the case of foreign participation, in so far as it stems the undue intrusion of government into the banking business. Second, all state commercial banks have installed modern corporate governance structure encompassing shareholders congress, corporate board plus outside directors and supervisors,supervisory board, and senior management structure. By the end of 2007, 33 foreign institutional investors have invested in twenty-five domestic banks, with a total capital injection of US$21.3 billion.These foreign strategic investors have entered in various strategic corporative agreements with domestic partners in widely diversified areas of banking,including retail banking, corporate governance and risk-management,trading, RMB derivatives and currency swaps, foreign exchange structured products, and trade and small-and-medium enterprises SME financing. In addition, domestic banks and their foreign partners share their networks and custom base for providing services and cross-selling financial products.Finally, human resource development program is a common feature in strategic corporative agreements, with training courses offered in SME management and financing, wealth management, fund trading, risk management, and implementation of the Basel Capital Agreements, etc.2.2.2. Successful public listingsAfter launching internal restructuring and successful attraction of reputable foreign strategic partners, state commercial banks were successful in listing their shares in the Hong Kong (H share) and Shanghai (A share) stock exchanges and hence for the first time subject to the market discipline:BOCOM, June 2005; CCB, October 2005; BOC, June 2006; ICBC, October 2006 (which was the first double listing in both the Hong Kong stock exchange and the Shanghai stock exchange). Public listing of bank shares together raised RMB445 billion (US$60 billion) in the open market, about 26% of combined net capital. In comparison, the funds raised through foreign strategic partners was US$15 billion. In 2007, two small shareholding banks were listed in the Shanghai stock exchange, bringing the total listed to seven among 12 shareholding banks. In addition, three city commercial banks based, respectively, in Beijing, Nanjing, and Ningbo were listed in the Shanghai A share market, paving the way for other city commercial banks to restructure and then seek listing in the stock exchange. Having benefited from rising share prices, ICBC, CCB, and BOC were, respectively, the first,second, and the fourth largest bank in the world by market capitalization at the end of 2007: US$338.9 billion, US$2202.5 billion, and US$197.8 billion.2.2.3. Strengthening capitalBy the end of 2007, nearly 80% of banks by asset have fulfilled capital adequacy standards. The capital adequacy ratio for the four listed state commercial banks was, respectively, 13% for ICBC; 13.3% for BOC; 12.6% for CCB; and 14.1 for BOCOM. The core capital adequacy ratio was, respectively, 11% for ICBC; 10.7% for BOC;10.4% for CCB; and 10.2% for BOCOM.2.2.4. Building risk management systemsSince 2006 CCB and other large state commercial banks have begun to introduce a vertical risk management system to consolidate risk management into the hands of the newly created chief risk officer. The reform has helped to stem undue interferences in the loan decision process at the local level. At the same time, by taking advantage of information technology, banks have begun to streamline and optimize the operational processes and procedures in order to reduce operational risks. Banks have also begun to use quantitative risk models to gauge and simulate various risk scenarios facing them such as stress test. The concept of economic/risk capital has been adopted to manage risk quotas, allocate bank resources, and pricing of products. Banks have alsostrengthened the analysis of market and liquidity risks while controlling operational risks through improved internal control procedures by employing quantitative tools and models. Last but not least, banks have taken steps to build a new risk or credit culture.2.2.5. Pursuing strategic transformation of the business modelChinese banks have traditionally focused on corporate businesses, the wholesale banking so to speak. However, as the local capital market gradually matures and the income and wealth of Chinese households continue to grow apace, the banks find growing business opportunities in consumer-oriented financial services such as mutual funds, mortgage financing, wealth management, and personal loans. These are also areas of financial services where the newly arrived foreign banks aim to capture with their competitive strength.Hence, both for seeking new sources of profit growth and achieving a more diversified and balanced revenue base, as well as for meeting the competition from foreign banks head on, the Chinese banks are compelled to seize the opportunity and meet the challenge to embark on the path of a strategic transformation of the traditional business model toward retailing banking.New thrusts of retail banking include credit card, personal loans, and wealth management, mutual fund, insurance products and other products generating fee-based income. Retail banking, in turn, has called for greater investment in information technology to develop efficient systems in processing personal loan, internet banking, and tele-banking, as well as improve the efficiency of retail networks to better serve the needs of retail rge state commercial banks like CCB have also initiated special programs to cater to the need of small and medium enterprises, SMEs. In addition, they have started to branch out into new areas of financial services, thus gradually and steadily moving toward universal banking encompassing investment banking, issuance, securities, private banking, and financial leasing.Banks have also started to grow overseas business either by establishing more new overseas branches or through merging and acquisitions of foreign financial entities.4. Conclusion: Assessment of Bank PerformanceThe strong financial performance of large state banks was carried into the first half of 2008 even as growth slowed by nearly 2 percentage points to 10.4% from the firsthalf of 2007 due to a combination of falling external demand and tighter credit policy. In the first half of 2008, net profit (profit after tax) grew, respectively, 71.3% for CCB, 56.8% for ICBC, and 36% for BOC over a year ago. Although the reduction of corporate income tax from 33% to 25% accounted for partly the increase in profit, but the key underlying factors driving profit growth remained the same as the last year. First,net interest income continued to benefit from rising interest margins as well as rapid asset growth and still is the main source of operating income, possibly for the foreseeable future. Second, fee and commission income again witnessed an explosive growth: CCB, 59.3%; BOCOM, 50%, ICBC, 48%;BOC, 45.1%, in spite of a sharply cooled stock market that has curtailed income derived from hot-selling market-based financial products of the previous year such as stock mutual funds. For large state commercial banks,the share of fee and commission income in total operating income reached a new record in the first half of 2008: CCB 14.9%; ICBC, 12.3%; BOC,31.4%. In the meantime, asset quality continued to improve as the NPL ratio continued to drop. By the end of June, the NPL ratio of ICBC and CCB were, respectively, 2.4% and 2.2%, representing a decline of 0.33 and 0.39 percentage points, respectively, from the end of 2007.Judged by record profit, much improved asset quality, and high ROE,the recent financial performance of the four large state commercial banks is nothing short of spectacular. Furthermore, as fee and commission income and more broadly retail banking revenue has taken off to become a strong source of profit growth, banks appear on track to realize their long-term strategic goal of diversifying into a more stable base of income generation that is less prone to business cycle risks. Thus, large state commercial banks appear to have come a long way in reforming themselves into a modern commercial bank. This outcome should be a surprise to some of earlier research findings that argue state commercial banks did not seem to have changed bank behavior fundamentally after launching banking reform. For instance,Podpiera (2006) shows that banks do not appear to make lending decision based on a commercial basis. Dobson and Kashyap (2006) assemble macroeconomic, microeconomic and anecdotal evidence suggesting that the pressure to make policy loans is continuing despite the reforms. However, the recent empirical work by Demetriades et al. (2008) seems to counter their findings by showing that bank loans is positively correlated with future value added and TFP growth during 1999–2005,even for state-owned enterprises. Moreover they find that firms with access to bank loans tend to grow faster in regions with greater banking sector development.Can this financial performance of banks be sustained? It appears that the good financial performance has been the result of two crucial factors,although it is not easy to delineate the two. First, a supportive macroeconomic environment —with a strong growth averaging 10.7% per annum over the period: 2003–2007 and a partially liberalized interest rate regime —helped to boost revenues. Second, banking reform has been instrumental in raising efficiency and holding down costs, both of which boost the return on capital.Compared to the impact of banking reform, the supportive macroeconomic environment exerts more a cyclical than fundamental impact on bank performance and is thus a less sustainable force. Indeed, the surging inflation as well as bubbles in the stock and real estate markets in 2007 already served as warning signals that the high growth in last several years is unsustainable. In 2008, the economic growth slowed sharply as a result of tightened money and credit policy and an unexpected large decline in external demand that sharply slowed down export growth. Although bank performance held up pretty well so far, a precipitous economic slowdown would sooner or later raise business risks and worsen asset quality for the banks. The immediate challenge of banks is how to skillfully navigate the more difficult economic water by properly controlling risks and staying on the course of restructuring and reform.If the successful public listing marked the end of the first phase of banking reform, it is clear that banks have entered a new phase of reform only a short while ago with much of the journey still lying ahead. Many of the recently launched corporate reforms: governance, internal control and operation procedures, risk management, and human resources are still work in progress and have not yet been brought to fruition. Banks are also in the early phase in adapting to the new business model mandating more attention being paid to retail customers and commission and fee-based incomes. Hence, they have to continue to be valiant on reform and learn to adapt to the vagaries of financial markets while catering to the evolving needs of customers as their demand for new financial services grow.While putting the bet on banking reform, there is no reason to be overly pessimistic on the short-term macroeconomic risks. China ran a budget surplus and had a lowgovernment debt of about 22% of GDP in 2007, as well as a relatively low urbanization ratio at around 44%. More importantly, Chinese banks have embarked on a reform path with healthy balance sheets and a strong capital base. Thus, China enjoys considerable flexibility to deploy a strong public sector investment program in order to strengthen domestic demand and mitigate the downside risks caused by the expected sharp decline in exports. The government unveiled such a public sector investment program with price tag of RMB4 trillion in mid-November 2008 (about 12% of GDP) that covered two years to last through 2010. The program complimented the expansionary money and credit policy that had been initiated a couple of months ago. If properly implemented and, in particular, in conjunction with structural rebalancing policies, the program should help to sustain strong growth in the short-run and even more important to regain macroeconomic balance over the medium-term.中国银行业的改革和盈利能力1概述世界银行（1997年）曾声称，中国的金融业是其经济的软肋。

商业银行中间业务外文文献翻译2014年译文3173字

外文出处：Dutt N, Hawn O. The Intermediary Business of Commercial Bank:An Overview[J]. Academy of Management Journal, 2014, 26: 117-132.（声明：本译文归百度文库所有，完整译文请到百度文库。

）原文The Intermediary Business of Commercial Bank：An OverviewDutt N, Hawn OAbstractIntermediate business does not constitute a commercial bank statement of assets, liabilities sheet, and the formation of banks1 non-interest income business. Intermediate business tying up funds for small business varieties, small risk, higher income, more and more attention of the commercial banks. Vigorously develop intermediary business beneficial to increase the sources of profits of commercial banks, help enhance the anti-risk ability of commercial banks, but also conducive to actively respond to the interest rate market and financial challenges "disintermediation" has a very important significance.Keywords: Commercial Banks; Intermediary business; Characteristic; Classification1 IntroductionAt present, financial innovation is the main power to promote the development of the financial sector, financial innovation and the development of intermediary business is to do. The concept of innovation is first and foremost by Schumpeter, (1939) in its written "the economic cycle," believes that innovation is to build a new production function, we've never seen a production elements and production conditions of production combinations, is introduced into the process of social production system. With the development of the theory of innovation, innovation began to introduce the financial sector. West pare (Sliber, 1970) think is the main reason for financial innovation, financial enterprises in order to avoid facing the various internal and external restriction. Kane (Kane, 1978) argues that the government for various financial controls, limiting the financial industry's profitability and financial enterprises in order to avoid these controls, financial innovation willvigorously.Hicks (Hicks, 1981) studies financial innovation transaction costs, which is the purpose of financial innovation in order to decrease the cost of financial transactions. North (North, 1981) think any institutional change in the financial sector can be seen as a kind of financial innovation. Benven (1984) and Berger (1987) argues that as a result of the existence of information asymmetry, the regulator of deposit insurance system to limit the expansion of the commercial bank deposit and lending business, in order to seek new profit point, commercial Banks can only vigorously develop intermediary business. Christopher James (1989) consider from the Angle of investors, that commercial Banks rely on deposit and loan business and equity investment is unable to meet the requirements of investors on earnings, while the development of intermediary business can enhance the profit and competition ability of commercial Banks, so as to meet the requirements of investors. Except for the study of the theory of financial innovation, many foreign scholars also the risk of intermediary business and economic benefits for the related research.M. K.H (1994) on the stock prices of listed Banks and intermediate business carries on the analysis, thought the intermediate business rarely brings marketability system risk, it can even reduce the risk of traditional business, which reduces the overall risk of commercial bank however Dara Kharabat (2002) is at the opposite point of view, he is studying the Japanese financial data of the 20 biggest Banks, thought in the development of intermediary business of commercial bank at the same time, should also consider the risk it contains, otherwise it may cause the risk of the entire financial system. Cebenovan (1989) studied the data of commercial Banks in New York, the intermediary business is obtained, and a variety of loan business between the more significant scope is not economic.There are a number of studies on the changing patterns of the structure of banks' income with the inclusion of OBS activities. Among them, Rogers and Sinkey (1999:8) investigated the relationship between the non-traditional activities and some variables by analyzing financial statements of 8.931 banks for the period 1989-1993. They found a negative and significant relationship between net interest margin andnon-traditional activities. In addition, they argued that mostly the big banks focused on non-commercial activities.Davis and Tuori (2000) analyzed the structure of banks' income in OECD countries for the period 1979-1995, using the data on bank profitability. They found evidence of changes in the income structure from interest income to non-interest income, with rapid growth of OBS activities in most of the EU countries. In addition, their results indicate that larger banks tend to maintain high levels of non-interest income. In addition to the analysis done on the changing patterns of the structure of banks' income with the inclusion of OBS activities, empirical investigation has also been done on the risks associated with these activities. Among these studies, Boyd and Graham (1986:10) examined the risks associated with diversification of banks into non-bank activities for the period 1971-1983. They found no significant relationship between non-bank activities and risk. However, non-bank activities were positively related to the risk of the banks during the period 1971-1977. They highlighted that the level of association between risk of failure and non-bank activities increases when there is no tight regulation on non-bank activities. As a result, the positive relationship between the two variables disappears when there are more stringent regulations.2 Classification of the intermediary businessThe Basel committee according to the development of intermediary business level, the intermediary business is mainly divided into four classes: the first kind is the customer asset management business, here includes trust, agency, consultation, securities, leasing, information and so on types of services; The second category is the guarantee business, mainly including the tender guarantee, performance guarantee and advance payment guarantee, quality guarantee, maintenance reserve guarantee, the customs duty free guarantee, loan guarantee, overdraft guarantee, bail guarantee, guarantee payment guarantee, compensation trade, lease guarantee, note confirming guarantee and so on, here I am not list one by one; Kind of business, the third class is loan commitments, including the advance convenience, the issuance of commercial paper, revolving credit, credit line,. Repurchase agreements, standby credits,reciprocal deposit agreement, etc.The last category is financial tool innovation class business, including the currency swaps and interest rate swaps, financial futures and options contracts, syndicated loans, asset securitization, etc. 9.From the above we can see that in the classification of the first kind of business is relatively minimal risk, while the second and the third type of business is likely to be more brings to the commercial bank risk, while the last can be used to avoid risk on one hand, on the one hand, at the same time may bring huge benefits to commercial Banks, and even the whole financial system bring great risk. Such as the financial crisis occurred in 2008, is due to the U.S. banking sector excessive, unreasonable use of financial innovation tool, without pay more attention to their huge risks that accompany, to the global economy into a swamp.Carried out in accordance with the commercial bank provides the service object, intermediary business can be divided into the following two kinds: internal service business, this is someone who is mainly in order to meet the needs of the Banks themselves, generally do not only pay attention to this kind of business bank profitability, it will also consider the impact on the overall and long-term development bank; Foreign service business, mainly in view of the intermediary business external customers, provide most of the intermediary business of commercial bank belongs to this category, the first purpose of this kind of business is for the sake of profit, so should reflect flexibility when providing such services."3 TURKISH BANKING SYSTEM AND THE DEVELOPMENT OF THE OFF- BALANCE SHEET TRANSACTIONSAfter 1982, in Turkey, commitments were excluded from the balance sheet and became the main item of OBS. It continued to be the major item in the following years. With the increase in public sector borrowing during 1990s the repo transactions became more attractive and their share increased within OBS items. Repo transactions were subsequently excluded from OBS items and included into balance sheet. Since 2000 the use of derivative financial instruments has become widespread and afterexcluding safe-custody and pledged securities, the derivatives constituted 43 percent of OBS items at the end of 2008. Safe-custody and pledged securities item which is a sub account of OBS items includes the securities deposited in Settlement and Custody Bank of Istanbul Stock Exchange (ISE). Following the change of methodology applied in calculating and accounting of these securities, the share of safe-custody and pledged securities item within total OBS items accounts for approximately 95 percent since 2005. Figure 1 indicates that the derivative transactions experienced an increasing trend during the period of 2002-2007. As a result of the fact that banks reduced their on-balance sheet foreign exchange positions since the global crisis, derivative transactions in general experienced a decrease in 2008.4. METHODOLOGY AND DATAThis study examines the influence of OBS activities on the performance of Turkish commercial banks in terms of banks' risk, profitability, leverage, and liquidity. The study starts with the analysis of the effect of OBS activities on bank risk exposures. The first estimation takes into account the influence of OBS activities on banks' market risk, unsystematic risk, and total risk. The traditional market model which assumes that banks are subject to systematic risk and unsystematic risk will be utilized in estimating market risk, unsystematic risk, and total risk for the commercial banks studied.Systematic risk is non-diversifiable since it resulted from changes in the market and economic environment where the bank operates and therefore, known as market risk. On the other hand, the bank-specific risk is measured by unsystematic risk and can be diversified with proper portfolio management. The traditional market model is given by Equation.5. EMPIRICAL FINDINGSA. Off-Balance Sheet Activities and the Risks of Locally-Owned Commercial BanksThe results of the Hausman test are presented in Table 1. The null hypothesis that the unobserved effect is independent from other explanatory variables cannot berejected. Hence, the random effect model will be used to estimate the relationship between OBS activities and bank's performance.B. Off-Balance Sheet Activities and Bank's ProfitabilityTo further analyze the impact of OBS activities on bank's performance, we also run the estimation with stock returns and returns on equity ratio as the dependent variables. This is because, besides risk exposures, OBS activities might also affect bank's profitability. The results of the estimation of the effect of OBS activities on bank's profitability are presented in Table 5. Based on the results, it is clear that OBS activities improve bank's stock returns, which is statistically significant even at 1% level. However, the return on equity is negatively related to OBS activities and is significant at 10% level. As suggested by Brewer et al. (1996: 20), the negative relationship might be due to the fact that stockholders expect returns to drop when OBS activities significantly reduce the risk exposure of the banks. Thus, this contributes to higher stock returns due to the perception of lower risk.译文商业银行中间业务：特点及分类达特；霍恩；摘要中间业务是指不构成商业银行表内资产、表内负债，形成银行非利息收入的业务。

商业银行中间业务的发展_问题与对策大学论文

商业银行中间业务的发展：问题与对策摘要商业商业银行的中间业务是指银行不动用自己的资产或是只动用极少的自己的资产，利用银自己人才、机构、技术、信息等优势，从中间人的身份替客户办理收付以及其他委托事项，提供更各类金融服务并收取手续费的业务。

现今商业银行间的竞争愈加激烈，而利润率却日渐下降，商业银行的生存压力逐年增加。

特别是1997年东南亚金融危机爆发后，商业银行本身对竞争意识、盈利意识、风险防范意识也有所加强，寻求稳定可持续发展业务愿望更加迫切。

而中间业务因其具有的特性，地位不断提升。

但我国商业银行在中间业务目前发展状况并不理想。

我国商业银行中间业务同西方发达国家仍有很大差距。

因此，我们需要从思想上重视，并未其发展提高良好和环境。

关键词：商业银行；中间业务The development of intermediate business of commercial banks:Problems and CountermeasuresABSTRACTThe intermediate business of commercial banks refers to the bank not to use their own assets or only use very little of their assets, use their talents, institutions, silver technology, information and other advantages, from the middle of the identity of the person for the customer for the payment and other matters entrusted, provides various financial services and to collect the fees business. Nowadays, the competition among commercial banks is becoming increasingly fierce, and the profit margins are declining, the commercial banks to survive the pressure is increasing year by year. Especially in the Southeast Asia financial crisis broke out in 1997, commercial bank itself to the consciousness of competition, profitability awareness, awareness of risk prevention has also been strengthened, stable and sustainable development of business to seek a more urgent desire. Intermediate business is due to its characteristics, the status of continuous improvement. But our country commercial bank in the middle of the current business development is not ideal. The intermediate business of commercial banks in China is still a big gap with the developed countries of the west. Therefore, we need to pay attention to from the thought, not the good and environment development.Key words:Commercial Bank; Intermediate Business目录1绪论 (1)1.1 选题目的和意义 (1)1.2文献综述 (1)1.3 论文思路 (2)2商业银行中间业务的概述 (3)2.1 商业银行中间业务的含义…..……………………………………………………. .32.1.1 商业银行中间业务的概念 (3)2.1.2商业银行中间业务的性质 (5)2.2 商业银行中间业务的地位和作用 (6)2.2.1中间业务在商业银行业务中的地位 (6)2.2.2 商业银行中间业务的作用 (6)3 我国商业银行中间业务的发展 (8)3.1我国商业银行中间业务发展的现状 (8)3.2我国商业银行中间业务发展存在问题 (9)3.3应对我国商业银行中间业务问题的策略 (10)4结论 (12)参考文献 (13)致谢 (15)1 绪论1.1 选题目的和意义商业银行的中间业务是指对银行资产负债表不会带来影响的，形成银行非利息收入的业务。

商业银行中间业务的发展情况

商业银行中间业务的发展情况在国内，商业银行的中间业务发展起步较晚，主要是从1994年开始。

当时，中国政府逐步放开对金融市场的管制，引入了外资银行，并鼓励国内商业银行进行创新。

于是，商业银行开始开展起了中间业务。

由于当时中国金融市场的不成熟和缺乏经验，商业银行的中间业务发展相对缓慢。

然而，随着中国经济的快速发展和金融市场的成熟，商业银行的中间业务开始迎来了新的机遇。

2001年中国加入了世界贸易组织（WTO），这进一步推动了金融市场的开放和国际化程度的提高。

外资银行的进入和国内银行的国际化发展，提高了商业银行的综合竞争力。

商业银行开始更加注重中间业务的创新和拓展，以满足不断增长的客户需求。

投资银行业务是商业银行中间业务中的重要组成部分。

投资银行业务包括企业融资、证券承销、并购重组等。

随着中国资本市场的发展，企业的融资需求日益增加，商业银行在投资银行业务领域有了更大的发展空间。

商业银行作为融资的渠道和纽带，为企业提供了多样化的融资工具和服务，推动了企业的发展和经济增长。

资产管理业务也是商业银行中间业务的另一个重要方面。

资产管理业务包括基金管理、信托业务、私人银行等。

随着人民收入水平的提高和理财需求的增加，资产管理业务成为商业银行的重要利润来源之一。

商业银行通过推出各种类型的理财产品，满足了客户的不同投资需求，也提升了自身的盈利能力。

证券交易业务是商业银行中间业务发展的另一亮点。

证券交易业务包括股票交易、债券交易、衍生品交易等。

随着中国资本市场的快速发展，证券交易业务逐渐成为商业银行的核心竞争力之一。

商业银行通过建立自己的证券交易平台和发展自身的研究团队，提供了丰富的投资产品和交易工具，为客户提供全方位的证券服务。

总的来说，商业银行的中间业务在过去几十年中取得了显著的发展。

中间业务不仅丰富了商业银行的业务范围，也提升了银行的盈利能力和竞争力。

随着中国金融市场的不断开放和国际化程度的提高，商业银行的中间业务有望迎来更大的发展机遇。

商业银行中间业务的国际比较与发展战略

商业银行中间业务的国际比较与发展战略一、本文概述随着全球经济一体化的深入发展和金融市场的日益开放，商业银行中间业务作为银行非利息收入的重要组成部分，已成为银行业务创新和发展的重要方向。

中间业务不仅为银行带来了丰厚的利润，还拓宽了银行的服务领域，提升了银行的综合竞争力。

然而，由于各国金融市场环境、监管政策以及银行自身发展策略的差异，商业银行中间业务在国际间呈现出多样化的发展态势。

本文旨在通过对商业银行中间业务的国际比较，深入剖析不同国家商业银行中间业务的发展特点、优势与挑战，进而探讨商业银行中间业务的发展战略。

文章首先将对商业银行中间业务的基本概念进行界定，明确其业务范围和分类。

随后，通过对比分析不同国家和地区商业银行中间业务的发展状况，揭示其背后的市场环境、客户需求、监管政策等因素对业务发展的影响。

在此基础上，文章将探讨商业银行中间业务的发展趋势和未来展望，为商业银行制定中间业务发展策略提供参考和借鉴。

二、商业银行中间业务的国际比较在全球范围内，商业银行中间业务的发展呈现出显著的多样性和差异性。

这种差异不仅体现在业务规模、结构和增长速度上，更体现在业务模式、创新能力和市场适应性等方面。

下面我们将选取几个具有代表性的国家和地区，对其商业银行中间业务的发展进行国际比较。

美国：美国的商业银行中间业务以其高度的市场化和创新性而著称。

在金融市场高度发达的背景下，美国银行利用先进的技术手段，如大数据、云计算和人工智能等，不断推出新的中间业务产品和服务，如资产托管、理财顾问、支付结算等。

同时，美国银行还注重与其他金融机构的合作，通过构建广泛的金融生态圈，实现资源共享和优势互补。

欧洲：欧洲的商业银行中间业务则以其深厚的历史底蕴和稳健的风险管理而著称。

在欧洲，许多银行都拥有百年以上的历史，积累了丰富的金融资源和经验。

这些银行在发展中间业务时，注重风险管理和内部控制，通过完善的风险管理体系和内部控制机制，确保业务的稳健发展。

商业银行中间业务的国际比较

对中间业务的概念、可开办的业务
用入世后过渡期米加快商业银行中问业务的发展，是一个非常迫切的
问题。
银行中间业务发展的国际比较
（）发展背景的比较一西方商业银行中间业务的兴起
源自２世纪７００年代的金融自由化和金融创新。在激烈的竞争环境
度较高。通常，中间业务占比的高低可以在一定程度上衡量一国商业银行的发达程度。中间业务的收从
障，为刺激产品创新开辟了广阔的
空间。
找新的利润增长点，西方商业银行把业务经营的重点转向ｒ既能带来收益，又对资本无要求的中间业
务。因为银行中间业务的特点就是不增加资产额，会降低资本与资产的比率，既能增加收入，义能满
领市场。在缺乏有效监管的情况
下，各银行之间展开恶性竞争。从
行６％以上的收入来自中问业务，０
英国最大的商业银行巴克莱银行中
监管的角度分析，由于中问业务属于新兴业务，有关收费等相关的管理规定尚未出台，商业银行缺乏明确的收费依据。不收费或少收费的政策导致中问业务缺乏持续开展的生存基础，中间业务开展的积极性受到打击。
行和中国银行竞争的焦点任于不占用自身资金收益良好的中间业
务。而我国商业银行的中问业务虽
市场业务，也可从事商业票据贴现及资本市场业务。我国商业银行的中间业务发展起步较晚，在业务品种上大部分属于、操作简单、技术含量较低、筹资功能较强的品种，如代收代付、评估查账等等，在产品品种上仅仅限于结算、代理收费等劳动密集型

我国商业银行中间业务比较发展目标论文

我国商业银行中间业务的比较分析及发展目标中图分类号：f832 文献标识：a 文章编号：1009-4202（2011）03-054-02摘要我国商业银行的发展远远落后于发达国家，从发展历程上看，商业银行的中间业务收入是呈上升趋势的，我国目前中间业务是处于起步阶段的，中间收入比重占总利润比重和中间业务收入总额远远低于金融成熟国家水平。

本文从对我国商业银行与外国商业银行中间业务横向比较，找到一些相同点和主要差距；从我国商业银行发展的不同阶段，找到我国商业银行的发展方向。

并且根据我国的国情提出我国商业银行发展中间业务的目标。

关键词中介业务博弈知识密集型一、简要介绍商业银行中间业务是指不构成商业银行表内资产、表内负债，形成银行非利息收入的业务，中间业务与资产业务、负债业务，被并称为现代商业银行的“三架马车”。

它的发展可以说是随着银行业的发展和发展的，最古老银行的产生也是由于为商人提供资金的保管，并收取一定的保管费，这个在现在看来就属于中间业务的一种。

特别到布雷顿森林体系后美元崩盘，巴塞尔协议的签署标志着中间业务必然成为银行提高自身利润的一个重要源泉。

近年来，中国商业银行的中间业务发展迅速，中间业务的收入却提高很慢。

可以说中国商业银行中间业务的发展是一种必然趋势。

随着2005年以来加息、加准备金率等紧缩政策的施行，特别是2010年以来央行开始执行稳健的货币政策，这就意味着中国商业银行提高自身利润的途径不能光放到存贷款产生的利差上来，因为这一利差将会逐渐缩小，而且存贷款量也会受到准备金率提高等诸多紧缩政策的负面影响，我国商业银行要把提高利润的重点放在增加中间业务收入上来。

自2003 年10 月1 日《商业银行服务价格管理暂行办法》开始实施以来。

国内商业银行对中间业务的收费已经日渐增多，近期中国四大国有商业银行与交通银行相继宣布，从2006 年6 月1 日起，对银行卡atm 跨行查询，收取0.3 元手续费。

9月，农业银行开始对小额账户收费，这些举措都大大推动了中间业务商业化的进程，同时也向世人显示中国商业银行中间业务免费的时代将一去不复返。

我国商业银行中间业务的国际比较

一
“ 不惜血本”压价销售或亏本销售的恶性竞争屡见不鲜。二者拓展非利整业务的经济基础也不一样。与西方国家企业不同，在长期的计划经济影响下，国的众多企业还我不能完全按照市场经济的要求和规律进行生产和经营，还没有产生出对一些创新金融产品（如信息咨询、现金管理、理财投资等）的需求，企业对银行更多的是资金的需求，却很少有
资金如何运用和管理等方面的指导需求。因此，限的金融有
套“ 戏规则” 同年ｌ游。２月１３日中国正式加人ＷＴ我Ｏ．
国商行与将要大批涌人的外资银行的业务交锋点就在中间
业务上，视我国商业银行在中间业务上与外资银行的差正
年７月４日，由中国人民银行行Байду номын сангаас 戴相龙签署的（０１第０２０］５
号中国人民银行令，宣布《业银行中间业务暂行规定》商正式发布实施。《暂行规定》的出台，实际上是商业银行发展中间
业务的指南，为商业银行在中间业务方面的金融创新提供了
维普资讯
●专题研究
湖北农村盒融研究・０２年第５期２０
我国商业银行中间业务的国际比较
戴晓岚
新经济的发展为商业银行中间业务带来了极大的想象和发展空间，随着全球范围内金融自由化不断加深和银行伴再造理论的广泛运用，中间业务已成为国际商业银行新的利
８０年代，西方银行业的竞争主要集中在产品质量及价格高低等方面。进入９０年代，经营环境变化令银行业的竞争更趋激烈，银行在服务种类、质量及价格方面的差异不断缩小，新产品的寿命逐步缩短，竞争优势所能维持的时间板为有限。同时，先进的科技和激烈的市场竞争使客户能够认识和享用前所未有的银行产品、服务及传送渠道。多元化的传送渠道逐渐改变了客户享用银行服务的习惯，其行为特征开始出现变化。各种中间业务作为丰富服务内容满足客户需求的重要手段也就不断应运而生。如索有 “ 融百货公金

国际商业银行中间业务的发展情况和中国商业银行中间业务的发展情况全面的比较

外文翻译：国际商业银行中间业务的发展情况和中国商业银行中间业务的发展情况全面的比较原文来源：LI Meng-jue, ZENG Xiao-ling( 信息管理系, 湖南长沙商业学院, , 410205, 中国 )译文正文：虽然中国的商业银行已开展多重中间业务，但他们还需要创造更多多样化的银行信用产品。

此外，随着中国加入世贸组织，地方银行和外资银行的竞争越来越激烈。

商业银行中间业务的发展：虽然中国的商业银行已开展多重中间业务，但他们还需要创造更多多样化的银行信用产品。

此外，随着中国加入世贸组织，地方银行和外资银行的竞争越来越激烈。

1.1商业银行发展的必经之路中间业务不仅带动商业银行的快速发展出现，他的出现是银行发展的必经之路。

首先，国际社会进入政府管制放松时代，自由化是国际商业银行的发展趋势，包括了扩大中间业务规模，加快金融创新的部分；第二，日益激烈额市场竞争也促进了金融中介组织业务的发展，商业银行的传统业务，不仅面临着同行业的竞争，而且随着资本市场的发展，直接融资的比重大大提高，传统的商业银行资产，负债业务日益呈现出日薄西山之势，因此，商业银行被迫开展新的业务创新，以增加一个新的利润来源；再次，中间业务的创新是市场需求的必然结果，由于利率和汇率的频繁波动，企业和商业银行在市场环境中增加了不确定性和风险，金融衍生品和中介业务的开展势必成为有效避险的管理手段，特别是商业银行中间业务以及其他多元化的金融服务，这样的风险管理能满足客户的需求；最后，银行有他自己独特的优势，1987年2月在美国西北大学举办的对资产证券化和风险中间业务发展研讨会上进行了总结，学者对商业银行大量发展中间业务是有利于商业业务的，商业银行中间业务是发展和技术，控制，利率风险，加强客户的竞争，也与资本充足率等因素密切相关。

商业银行发展中间业务的意义：A）可以扩展商业银行的中介功能，扩大业务规模。

B）商业银行可以分散经营风险，提高银行的抗风险能力。

商业银行中间业务外文文献翻译

文献出处：Aktan B, Chan S G, Zikovic S, et al. Off-balance sheet activities impact on commercial banks performance: an emerging market perspective[J]. Ekonomska Istrazivanja ,2013, 26: 117-132.原文OFF-BALANCE SHEET ACTIVITIES IMPACT ON COMMERCIAL BANKS PERFORMANCE: AN EMERGING MARKET PERSPECTIVEBora; Sok ; Sasa;PinarABSTRACTThis paper examines the effect of off-balance sheet (OBS) activities on performance of the banks listed on Istanbul Stock Exchange (ISE). We use four measures of performance including bank's risk exposures, profitability, leverage, and liquidity position. We find that both bank-specific risk and foreign exchange rate risk are positively related with OBS activities. This indicates that OBS activities increase bank-specific and foreign exchange risk exposures of the banks in Turkey. The positive relationship might serve as a warning to bank's speculative action using OBS transactions in the market. The results also indicate that OBS activities, due to its hedging perception, improve bank's stock returns but have a negative impact on return on equity. In addition, OBS activities do not have a statistically significant impact on leverage or liquidity.Keywords: Banking; Off-balance sheet activities; Risk exposure; Istanbul Stock Exchange; Turkey1. INTRODUCTIONIn today's financial markets, one of the striking developments is the increasing tendency of banks to engage in off-balance sheet (OBS) activities. In recent years the development and deregulation of the financial markets, improvements in financial innovation and decreases in banks' margins, as a result of low-quality loan applicants, encourage the banks to offer new products and services to increase their profits (Jurman, 2005). Edwards and Mishkin (1995) argue that the rate of traditional banking has been decreasing while the OBS activities have been increasing.Decreasing profitability of traditional banking and increasing competitiveness of markets actually forces banks to undertake OBS activities. Ebrahim and Hasan (2004) analysed the banks' profits from traditional and non-traditional activities. They argue that improvement of non-interest earnings of the banks arose from the development of new types of financial instruments.OBS or fee-related items such as guarantees, commitments and derivatives sometimes become the main sources of bank revenues. By engaging in OBS activities, besides providing high earnings, banks can avoid regulatory costs or taxes since reserve requirements and deposit insurance premiums are not imposed on OBS activities. However, these activities can involve risks such as market, operational and credit risks, which might affect bank's solvency and liquidity. On the other hand, significant growth in derivatives activities by commercial banks might be explained by increased interest rate, credit and foreign exchange risk exposures, which banks face in domestic and international markets. Derivatives offer a way to hedge these risks without having to make extensive changes on the balance sheet.This paper aims to examine the effect of OBS activities on the performance of the banks listed on Istanbul Stock Exchange (ISE). We examine the effect of OBS activities on bank's risk exposures, profitability, leverage, and liquidity position. Since we could not find any study dealing with this topic in Turkey we try to fill this gap.The paper proceeds as follows; section 2 presents the background on banking system and OBS activities in Turkey, section 3 provides a review of the literature, section 4 discusses methodology and data, section 5 presents our empirical results and analysis. Section 6 presents our conclusions.II. TURKISH BANKING SYSTEM AND THE DEVELOPMENT OF THE OFF- BALANCE SHEET TRANSACTIONSAfter 1982, in Turkey, commitments were excluded from the balance sheet and became the main item of OBS. It continued to be the major item in the following years. With the increase in public sector borrowing during 1990s the repo transactions became more attractive and their share increased within OBS items. Repo transactions were subsequently excluded from OBS items and included into balance sheet. Since 2000 the use of derivative financial instruments has become widespread and after excluding safe-custody and pledged securities, the derivatives constituted 43 percentof OBS items at the end of 2008. Safe-custody and pledged securities item which is a sub account of OBS items includes the securities deposited in Settlement and Custody Bank of Istanbul Stock Exchange (ISE). Following the change of methodology applied in calculating and accounting of these securities, the share of safe-custody and pledged securities item within total OBS items accounts for approximately 95 percent since 2005. Figure 1 indicates that the derivative transactions experienced an increasing trend during the period of 2002-2007. As a result of the fact that banks reduced their on-balance sheet foreign exchange positions since the global crisis, derivative transactions in general experienced a decrease in 2008.III. PREVIOUS STUDIESThere are a number of studies on the changing patterns of the structure of banks' income with the inclusion of OBS activities. Among them, Rogers and Sinkey (1999:8) investigated the relationship between the non-traditional activities and some variables by analyzing financial statements of 8.931 banks for the period 1989-1993. They found a negative and significant relationship between net interest margin and non-traditional activities. In addition, they argued that mostly the big banks focused on non-commercial activities.Davis and Tuori (2000) analyzed the structure of banks' income in OECD countries for the period 1979-1995, using the data on bank profitability. They found evidence of changes in the income structure from interest incometo non-interest income, with rapid growth of OBS activities in most of the EU countries. In addition, their results indicate that larger banks tend to maintain high levels of non-interest income. In addition to the analysis done on the changing patterns of the structure of banks' income with the inclusion of OBS activities, empirical investigation has also been done on the risks associated with these activities. Among these studies, Boyd and Graham (1986:10) examined the risks associated with diversification of banks into non-bank activities for the period 1971-1983. They found no significant relationship between non-bank activities and risk. However, non-bank activities were positively related to the risk of the banks during the period 1971-1977. They highlighted that the level of association between risk of failure and non-bank activities increases when there is no tight regulation on non-bank activities. As a result, the positive relationship between the two variables disappears when there are more stringent regulations.Hassan (1993:33) examined the relationship between OBS activities and market risk of large commercial banks of the US. He found that OBS activities contribute to the overall diversification of the bank portfolio risk by reducing the total risk. Nevertheless, OBS items do not influence the systematic risk of banks and this may be due to the fact that OBS items are not a concern of well- diversified stockholders.Chaudhry (1994) investigated the impact of OBS activities on commercial banks' exposure to market-based risk in the US by utilizing a two-stage model. He found that larger banks are more efficient in interest rate risk management as compared to the smaller ones. In contrast, in their study, DeYoung and Roland, (2001) found that the banks' earnings volatility increased when banks tilted their product mixes towards fee based activities and away from traditional intermediation activities. Lepetit et al. (2005) found that the banks which expanded into non- interest income activities, presented a higher level of risk than banks which principally supplied traditional intermediation activities.More recently, Karim and Gee (2007: 5) examined how OBS activities of the locally owned commercial banks in Malaysia affected the performance of the banks through banks' exposure to various forms of risks, bank profit, leverage and liquidity by conducting a panel regression and indicated that only the market risk is significantly positively related with OBS activities. According to them, this might be due to the fact that OBS activities were not the main source of funds for these banks since the use of OBS items was still in its emerging phase. In addition, they found that the stock returns were negatively related to OBS activities. There was no significant relationship between return on equity, leverage and liquidity ratio with the OBS activities.As we mentioned in the previous section, although there has been an increasing trend in the OBS bank activities in Turkey, there are no studies which examine the effects of OBS activities on the bank's performance.IV. METHODOLOGY AND DATAThis study examines the influence of OBS activities on the performance of Turkish commercial banks in terms of banks' risk, profitability, leverage, and liquidity. The study starts with the analysis of the effect of OBS activities on bank risk exposures. The first estimation takes into account the influence of OBS activities onbanks' market risk, unsystematic risk, and total risk. The traditional market model which assumes that banks are subject to systematic risk and unsystematic risk will be utilized in estimating market risk, unsystematic risk, and total risk for the commercial banks studied.Systematic risk is non-diversifiable since it resulted from changes in the market and economic environment where the bank operates and therefore, known as market risk. On the other hand, the bank-specific risk is measured by unsystematic risk and can be diversified with proper portfolio management. The traditional market model is given by Equation.V. EMPIRICAL FINDINGSA. Off-Balance Sheet Activities and the Risks of Locally-Owned Commercial BanksThe results of the Hausman test are presented in Table 1. The null hypothesis that the unobserved effect is independent from other explanatory variables cannot be rejected. Hence, the random effect model will be used to estimate the relationship between OBS activities and bank's performance.B. Off-Balance Sheet Activities and Bank's ProfitabilityTo further analyze the impact of OBS activities on bank's performance, we also run the estimation with stock returns and returns on equity ratio as the dependent variables. This is because, besides risk exposures, OBS activities might also affect bank's profitability. The results of the estimation of the effect of OBS activities on bank's profitability are presented in Table 5. Based on the results, it is clear that OBS activities improve bank's stock returns, which is statistically significant even at 1% level. However, the return on equity is negatively related to OBS activities and is significant at 10% level. As suggested by Brewer et al. (1996: 20), the negative relationship might be due to the fact that stockholders expect returns to drop when OBS activities significantly reduce the risk exposure of the banks. Thus, this contributes to higher stock returns due to the perception of lower risk.译文中间业务对商业银行业绩的影响:一个新兴的市场角度博拉；索克；莎莎；皮纳尔摘要本文分析了伊斯坦布尔证交所上市的商业银行，其中间业务对银行经营业绩的影响。

商业银行中间业务的国内外比较

维普资讯
３７
中国招标９１－
＞＞＞观察研究
— … — … — … — … ● … — … — … — … — … — … — … — …
商业银行中间业务
的国内外比较
中南财经政法大学宋慧玲
商业银行是以追求最大利润为目标．以多种金融负债筹集资金以多种金融资产为经营对象，能利用负债进行信用创造，并向客户提供多功能综合性服
使以追求利润最大化为目的的商业银行积极开拓新业务一方面，融自由化又为商业银行提供了开拓新另金业务的契机。着金融自由化，融风险不断加剧，随金商
和经济咨询服务信托业务、代理收付业务、险箱保
活动需要指出的是，中间业务不等同表外业务表外业务是指商业银行经营的不列入资产负债表的业务，如贷款承诺业务、金融担保业务、掉期业务等。表外业务同资产负债业务关系密切，在一定条件下会转化为资产负债业务但是，表外业务只是中间业务的一部分，中间业务的
近甚至超过了利差收入。如花旗汇丰渣打等商业银行．其中间业务收入己占到总利润的七成以上。西方国家推行的中间业务范围十分广泛种类繁
原则，实行自主经营自担风险自负盈亏自我约
束。商业银行除办理传统存贷款基本业务外，还以中
多，涵盖了代理结算．担保．融资．咨询和金融衍生等众多领域。自出现混业经营 ” 以来，中间业务产品更是日新月异层出不穷，使商业银行成为名副

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成都理工大学
学生毕业设计（论文）外文译文
译文标题（中英文）：商业银行中间业务发展的国际比较（Intermediate business of commercial banks and the development of intermediate business of commercial banks in china with a comprehensive international）
3.2证券类中间产品
随着国际贸易的发展，西方商业银行证券业务迅速发展起来，包括备用信用证，担保支付，履约保证金，投标保证金，监督，如付款的常见品种。中国和外国的商业银行，担保业务是生产中间业务与商业银行进行安全操作是利用银行提供信贷支持，即一个人因为与信贷支持有关的风险承担。
3.3中间产品的管理
主要分为银行业务，安全业务，个人理财业务。自上世纪年代，由于世界金融体系，产业结构，组织结构，运作模式和竞争正在经历一场深刻的变革。在传统的银行，证券，保险，业务之间的信托业务界限越来越模糊，这些变化同时力求促进和加强全球化和虚拟的商业银行和金融活动组织，保险业的银行在这里蓬勃发展。随着世界经济的发展，个人金融服务，显示了巨大的发展空间。与商业银行的个人金融服务客户的核心是个人理财在商业银行服务的“金融服务超市”发展的过程中，商业银行在国内和国外的个人理财服务已成为零售企业一个焦点。
2.3业务中间收入结构的改变
西方商业银行1980〜1990年的10年间，在这两个非利差收入快速上升趋势的总收入。外资银行营业收入的中间一般占40％，占总收入的50％。在接受美国银行，花旗银行，信用调查，信用评级公司，资产评估业务，个人财务顾问业务，远期外汇买卖，外汇期货，外汇期权，及其他中间业务占80％所带来的利润存款贷款业务的利润仅占20％的总利润。
2.4服务手段先进和高科技。
提高科学和技术为商业银行提供技术支持和创新，尤其是近年来一个坚实的基础的中间业务的发展水平可以在任何时间，任何地点以任何方式为客户提供个性化的服务网络银行，网上银行的出现，促进了中间业务的发展。在中间其强大的业务国际先进银行的支付系统是一个巨大的数额的服务费收入。
三、商业银行中间产品析
2.2逐步扩大业务量达到2.2万亿，大幅提高了收入水平
从1993年到1996年，美国银行业务中增长从9120亿美元到12.188万亿美元，占银行资产的78％〜142.9％，其中在百分之商业贷款的中间的七个最大的银行增加了一倍多等等。居住在美国的银行业，花旗集团，美洲，如涉及超过2.2万亿美元总资产的业务活动的五大银行集团的中间前列具有相同的周期，资产及负债7800亿美元的资金总和的450亿美元总资产项下的银行;中间业务3年平均增长率为54.2％，比21.6％的年均增长率9％的年均总资产及总资本要高得多。
3.1清算类中间业务
清算类产品通常分为：银行承兑，汇票，三类票据。结算行为的时间之间的资金结算，为客户，主要需求是利用银行结算系统，安全，及时转移资金。因此，结算清算业务，以确保圆满完成的一个重要环节的一种手段。对结算业务的特点，其风险可能来自三个方面：客户的风险因素，邮电通信业和银行业风险因素的风险因素。对银行来说，外部风险，这是银行的内部风险前两个银行。
1.2中间业务发展的重大意义
（A）可以扩展到商业银行的中介功能，扩大业务规模。
（B）商业银行可以分散经营风险，增强银行的抗风险能力。
（C）可以播放多种业务，“捆绑”效应，提升银行的竞争力。其他业务互动和相互影响的商业银行的中间业务，中间业务的发展，为银行带来的不仅是直接的利润，也可以与其他企业，市场第二的互动，以提高银行的竞争力。
二、中间业务发展中的商业银行
2.1扩大业务范围，实现产品多样化
中间经营的商业银行和各种各样的产品，以满足客户，商业银行的新业务创新多样化需求的西方国家。业务涵盖传统银行业务，信托业务，投资银行，共同基金，保险等业务的中间范围。他们可以从事货币市场操作，也可以从事贴现商业票据及资本市场业务。逐步扩大业务规模，收入水平上升。
3.4咨询类中间产品
中间业务咨询类指转让，出售信息，并theintermediary业务的主要内容提供智能服务。关于自己的信息，人才，信誉等方面，这些客户的资料和信息的收集和展示，以及银行和活动记录的财务分析商业银行形成的信息和程序的系统提供给客户，一以满足他们的管理或业务发展需要。包括：信用，企业信用评级，资产评估业务及财务资料;企业和个人财务顾问业务;业务顾问业务的投资和融资，包括融资和国际银团贷款安排。3.5银行卡，网上银行中间产品，银行信用卡是商业银行的问题与消费者的信用卡，借记卡结算，存取现金的全部或部分，如信用支付功能的社区。它的快速发展，许多国家已成为一项重要的业务，许多银行和利润品种的主要来源。网上银行是银行服务，为客户提供新的工具，其现有的银行业务的基础上，利用互联网技术，为客户提供全面的，同意，安全，实时的金融服务。网上银行不仅是金融创新是银行的组织结构，同时，网上银行的出现，使商业银行的扩张找到适合的中间业务新渠道。
译文出处：中国与世界经济
指导教师审阅签名：
外文译文正文：
商业银行中间业务发展的国际比较
一、商业银行中间业务发展的原因：
1.1商业银行的必然选择
商业银行及相关原因出现快速发展的中间业务不仅推动，也是外部因素造成的。首先，国际社会进入该国已放宽管制，银行及国际趋势，包括大大的中间业务，包括金融创新步伐的自由化;二，市场竞争也促进了中间业务的发展，商业银行的传统业务，不仅面临着在同行业的竞争，而且随着资本市场国家的发展，大大提高直接融资比重，传统的商业银行资产，负债，业务日益呈现出“夕阳产业”的下降，因此，商业银行被迫开展新的业务创新创造新的利润来源;再次，业务创新的中间是市场需求的结果，由于频繁波动的利率和汇率，企业和商业银行在经济环境的不确定性，增加了它的风险的有效管理工具，特别是一些金融衍生品有对银行中间业务是风险管理，以满足客户，以及其他多元化金融服务的发展需求;最后，银行有自己的优势，以及20个实用信息技术自商业银行的80年代为中间业务的发展提供了可能的发展和广泛使用。1987年2月在西北大学在美国举行的存款在资产证券化和中间业务研讨会上，一位学者对商业银行大量的业务原因themiddle发展发展的风险缔结的机构，也就是说，商业银行中间业务与技术，控制利率风险，客户竞争发展的因素，如资本充足率密切相关。