【作者】 王磊；

【导师】 李远慧；

【作者基本信息】 北京交通大学 ， 工商管理硕士（专业学位）， 2019， 硕士

【摘要】 金融租赁公司因业务的特殊性,资产负债存在期限错配的天生劣势,“短资长用”的现象较为明显,随着2017年下半年以来,金融行业“去杠杆、控风险”使得市场整体流动性偏弱,金融租赁公司流动性安全受到了极大冲击,加之2018年银保监会成立之初,便发布《商业银行流动性风险管理办法》,对包括金融租赁公司在内的流动性风险管控提出了更高的监管要求,内外部因素的共同作用使得金融租赁公司流动性压力逐年增大。本文首先从流动性管理相关理论出发,结合监管对流动性硬性要求,找出流动性风险的本质和关键影响因素。查阅相关文献,结合商业银行等金融机构流动性管理的先进经验,从定性和定量两个角度分析ZX金融租赁有限公司现有流动性管理的现状及问题,找出产生流动性风险产生的内外部原因。构建以租金回收率、融资续借率及未使用授信额度三个关键因素的压力测试体系,分析其极端情况的流动性风险抵御能力。最后,从制度建设、融资产品、资金走势的角度提出如何对ZX金融租赁有限公司流动性管理提出改进措施,以提高ZX金融租赁有限公司的流动性风险抵御能力。本文通过以ZX金融租赁有限公司流动性风险管理的研究,参照国内外商业的先进流行性管理经验,构建了适合金融租赁公司的压力测试体系,压力测试指标考虑了金融租赁公司的信用风险、利率风险、声誉风险和操作风险,较为贴切金融租赁公司的实际经营情况,可以为其他金融租赁公司流动性管理起到借鉴作用,也可以为保理公司、信托公司等其他非银行金融机构流动性管理提供一定的参考,加强其流动性管理水平,有一定的理论价值和实践意义。更多还原

【Abstract】 Considering the particularity of financial leasing industry’s business and the inherent disadvantage of mismatching assets and liabilities,the phenomenon of "short-term borrowing used for long-term loan" is more obvious.Since the second half of 2017,the"de-leverage and risk control" of the financial industry has weakened the overall liquidity of the market,and the liquidity security of financial leasing industry has been greatly impacted.In addition;,at the beginning of the establishment of CBIRC in 2018,it issued"The manual liquidity risk management measures for Commercial bank" require higher supervision for liquidity risk of financial leasing industry.The combination of internal and external factors makes the liquidity pressure of financial leasing companies increase year by year.Starting with the relevant theory of liquidity management,and combing the rigid requirements of supervision on liquidity,this paper finds out the fundamental and key influencing factors of liquidity risk.Through reviewing relevant literature,combing with the advanced experience of financial institutions such as commercial banks,this paper analyses the current status and problems of ZX Financial Leasing,from the qualitative and quantitative perspectives,and the internal and external causes of liquidity risk.We built a stress test system based on three key factors:rent recycling rate,financing renewal rate and unused credit amount,and analyzed the liquidity risk resilience of extreme conditions.Finally,from the perspective of regulation establishment,financing new products,and capital trends,it proposes how to improve the liquidity management of ZX Financial Leasing,to improve the liquidity risk resilience of ZX Financial Leasing.Based on the research of liquidity risk management of ZX financial leasing company and the advanced management experience of domestic and foreign businesses,this paper constructs a stress testing system suitable for financial leasing companies of which indicators take into account the credit risk,interest rate risk,reputation risk and operational risk.It is more relevant to the actual operation of financial leasing companies,it can be used as reference for the liquidity management of other financial leasing companies,and other non-bank financial institutions such as factoring or trust.A certain reference to strengthen its liquidity management level has certain theoretical and practical significance.更多还原