【作者】 徐伟；

【导师】 颜嘉川；

【作者基本信息】 中南财经政法大学 ， 金融学， 2019， 硕士

【摘要】 随着我国经济的高速发展,居民人均收入水平不断提升,理财需求较为旺盛,个人理财业务得到了迅速的发展,尤其是商业银行的个人财富管理业务,已然成为各大银行的竞争热点,其中尤其是高净值人士、高净值家庭的个人及家族理财业务,已成为银行业中收重要的来源。2018年4月27日,中国人民银行发布了纲领性文件《中国人民银行、中国银行保险监督管理委员会、中国证券监督管理委员会、国家外汇管理局关于规范金融机构资产管理业务的指导意见》,《资管新规》的正式落地给当下商业银行理财业务带来巨大变革。变革即意味着新的发展机会,百万亿资管产品面临转型调整,对国内银行业理财业务影响深远。本文从对中国理财业务的起源及发展过程进行研究,对国内外商业银行理财业务的发展、特点、管理模式及现状进行纵向及横向的对比,结合对《资管新规》出台背景的社会及经济背景的分析,提出我国股份制商业银行当下的理财业务存在刚性兑付、多层嵌套、“资金池”操作模式积累资金风险、监管盲点等诸多风险隐患。《资管新规》的相关条例直指前述问题,旨在打破商业银行理财产品的刚性兑付,实现理财的净值化管理,明确规定金融机构不得开展表内资产管理业务,即禁止银行不允许再发行保本理财;规范资金池降低期限错配风险,要求银行成立资管子公司独立管理和运营理财产品等。笔者在实证研究的基础上,结合《资管新规》主要规定及其对商业银行理财业务的影响的探讨,提出国内商业银行理财业务应当从健全现有的理财产品体系、打破原有刚性兑付、转变现有理财业务盈利模式、设立专业化、精细化的销售队伍、设立具备独立法人资格的资产管理子公司等诸多方面进行调整,才能在《资管新规》发布后的过渡期实现平稳转型,以适应未来商业银行理财业务的发展。根据前述相关的分析,结合国外个人理财暨个人财富管理业务的发展情况横向研究我国未来理财在《资管新规》过渡期(2020年)后,对商业银行理财未来业务转型发展的方向及对策提出一些切实可行的建议,指出了未来可能的研究方向。更多还原

【Abstract】 With the rapid development of China’s economy,the per capita income of residents keeps rising,the demand for financial management is relatively strong,and the personal finance business has developed rapidly,especially the personal wealth management business of commercial Banks,which has become a hot spot of competition among major Banks,especially the personal and family finance business of high net worth individuals and high net worth families,which has become an important source of income in the banking industry.On April 27,2018,the people’s bank of China issued a framework document "the people’s bank of China,bank of China insurance regulatory commission,China securities regulatory commission,the state administration of foreign exchange of normative guidance of financial institutions in the asset management business,formal ground of new rules on information technology to change the present commercial bank financing business is great.Reform means new opportunities for development.The 100 trillion RMB asset management products are facing transformation and adjustment,which will have a profound impact on the financial services of the domestic banking industry.This article from the origin and development of Chinese financial business process,the development of domestic and foreign commercial bank financing business,characteristics,management mode and current situation of the longitudinal and transverse comparison,combination of the information technology the new rules for the analysis of the background of social and economic background,joint-stock commercial Banks in China are put forward the current financing business is rigid to honour,multi-layer nested,"pool" operating mode risk accumulation funds,regulatory blind spots,and many other risks.The relevant regulations of the new rules on assets management refer to the above problems,aiming to break the rigid payment of financial products of commercial Banks and realize the net value management of financial management.It clearly stipulates that financial institutions shall not carry out the business of asset management in the balance sheet,that is,Banks are prohibited from issuing capital guarantee financial management;We will standardize capital pools to reduce the risk of maturity mismatch,and require Banks to set up asset management companies to manage and operate wealth management products independently.The author on the basis of empirical research,combined with "information technology new rules on" main regulation and its impact on commercial bank financing business discussion,put forward the domestic commercial bank financial business shall be from the existing financial product system,breaking the original rigid payment,change the existing financing business profit model,the setting up of specialization,intensification of sales team,set up an independent legal personality of the adjustment,many aspects,such as asset management subsidiary in the information technology the new rules after the release of the transition period of smooth transition,to adapt to the development of the commercial bank financing business in the future.According to the relevant analysis,combining with the personal finance and personal wealth management business of foreign cross-sectional study finance in our country in the future development in the information technology new rules "(2020)after the transition period,the commercial bank financing business transformation in the future development direction and countermeasures put forward some practical Suggestions,possible future research directions are pointed out.更多还原