1) Understand the problem. Knowledge is the forerunner of action. In a certain sense, the understanding of the importance of developing intermediary business by the senior management of commercial banks determines the development degree of intermediary business. Restricted by the system, vision, concept, way of thinking and practical experience, some domestic banks have insufficient understanding of the rapid development trend of international banking intermediary business, the accelerated pace of interest rate marketization and the pressure of commercial banks' survival and development after the full opening of financial markets, the imminent implementation of the new Basel Capital Accord, the impact of capital constraints on commercial banks' asset-liability business, and the fact that asset-liability business is more important than intermediary business. Intermediary business is still regarded as an auxiliary means to expand the traditional deposit and loan business, and there is not much thinking, research and investment in intermediary business, and the initiative and urgency of developing intermediary business are not strong.
(2) There are few types of intermediary business and single means. After more than ten years of development, although the variety of intermediary business of commercial banks in China has greatly increased, compared with foreign banks and market demand, the variety is still less. At present, the intermediary business of China's commercial banks is mainly limited to traditional settlement, remittance, collection and payment, credit cards, letters of credit, bills of exchange and other products, accounting for about 60% of the intermediary business types. However, there are still shortcomings in providing customers with high-quality and high-level services by using the information, technology and talents of commercial banks. The development of high-tech, high-value-added intermediary businesses such as consulting services, investment and financing, and derivative financial instruments trading is obviously insufficient, and the coverage is narrow, failing to form economies of scale; In particular, policies such as cash management, project financing, syndicated loan organization arrangement, and merger and acquisition consultants allow a low level of business development, resulting in more homogeneous products, lack of brand products and characteristic businesses, and weak profitability and competitiveness of individual products. The "Ericsson defection incident" in 2002 reflects from another aspect that in the face of changing customer needs, commercial banks will not be able to take the initiative in the market competition if they cannot provide a steady stream of innovative products, which will inevitably lead to the loss of high-quality customers. The problems existing in the intermediate business products of commercial banks not only expose the weaknesses of commercial banks, such as lack of innovation power and vitality, lagging product management, but also reflect the problems of complicated approval procedures, long approval period and coordination mechanism between supervision departments to be further improved.
(3) The operation is not standardized, and there is a lack of complete and systematic scientific management. At present, most domestic commercial banks do not have specialized institutions to systematically manage the development and operation of intermediary business, and lack long-term planning, coordination and cooperation. In operation, most commercial banks are limited to issuing intermediary business completion plans, but there is no perfect management method and feasible operating rules on how to strengthen the organization of intermediary business development and improve the development level. The lack of manpower, material resources and financial resources often makes grass-roots banks in a passive situation in the development of intermediary business market. In addition, the management mode of intermediate business is mostly split mode, and the management of intermediate business is completed by different departments respectively. This decentralized management, and each department often adopts different management methods and different assessment objectives and incentive measures, is not conducive to information communication, is not conducive to improving management efficiency, is not conducive to the formation of scale effect, and promotes the overall development of intermediary business.
(D) Irrational competition is prominent, and low-level competition is more common. Irregular competition in the same industry has hindered the progress of intermediary business of commercial banks to some extent, which is an urgent problem to be solved. With the intermediary business increasingly becoming an important field of competition for commercial banks, various behaviors have occupied the market and scale, and the practice of lowering the charging standard, not charging or even exceeding the account has been adopted. You are high and low, you are free, and you are free to post, which seriously threatens the development of the intermediary business market. The most direct consequence is that the intermediary business volume is not proportional to the income, and the bank makes a lot of money and loses a lot of money. In addition, in the innovation of intermediary business, many commercial banks pursue "takenism", adopt the following strategy, wait for other banks to develop new products, and then copy and imitate them to keep up with the introduction of similar products, supplemented by low-price strategy, which harms the interests of other commercial banks.
(5) The problem of unbalanced development. Judging from the situation, the development level of intermediary business of domestic banks is uneven, with great contrast. First, the development between regions is unbalanced, with the eastern region developing rapidly and the central and western regions lagging behind; Second, large state-owned or state-controlled banks and medium-sized joint-stock commercial banks have developed rapidly, while small banks have lagged behind; Third, there is a big gap between Chinese banks and foreign banks in China. If effective measures cannot be taken to solve these problems, the gap between the eastern region and the central and western regions, between large banks and small banks, and between Chinese banks and foreign banks will continue to widen, which will not be conducive to the improvement of the overall level of intermediary business in China's banking industry.
(six) the contribution to the operating efficiency is still insufficient. At present, the proportion of intermediary business income in the operating income of commercial banks is still obviously low, and its contribution to the overall profitability of commercial banks is still limited. In 2004, among the four major banks, only China Bank accounted for 14% of the net operating income, and the other three banks were all below 10%. Some emerging joint-stock commercial banks may have a slightly higher proportion of intermediary business income because of their small assets, but overall they are still relatively low, which is far from foreign-funded commercial banks.
(7) Inadequate understanding and measurement of intermediate business risks. Intermediary business not only helps banks improve efficiency, profitability and service level, but also brings various risks to banks, such as credit risk, market risk, operational risk, legal risk, reputation risk and technical risk, which need to be strictly guarded against. Especially at present, banks still lack management experience in many intermediary businesses and have insufficient understanding of potential risks. Judging from the scope of intermediary business defined in the Law on Commercial Banks and the Interim Provisions on Intermediary Business of Commercial Banks, most of the businesses are low-risk businesses, except the guarantee and commitment business and the financial derivatives trading business, but low risk does not mean no risk. From the supervision practice in the past few years, the risks of intermediary business are mainly manifested as policy risk, operational risk, associated risk and reputation risk. For example, the CBRC has accepted all aspects of the personal products and personal wealth management products launched in cooperation with securities companies and other intermediaries, and has given risk warnings.
(8) Lack of professional talents and scientific and technological support. Intermediary business involves a wide range of fields and knowledge, and needs a large number of high-level and compound talents. At present, China's commercial banks do not have enough support for the development of intermediary business in terms of professional talents, technical equipment and technical means. They lack efficient information management systems and supporting equipment, as well as compound talents who are familiar with banking, computers, international finance, investment, securities and other professional knowledge. Some employees have outdated knowledge, low professional quality, incomplete marketing skills and low bargaining power, which restricts the promotion of new products and the improvement of the service quality of intermediary business.
Solution:
With the acceleration of financial globalization, especially after 65438+February 1 1 next year, China's financial market will be fully opened to the outside world. Domestic commercial banks, regulatory authorities and banking associations should make great efforts, make practical moves, grasp management and innovation, and comprehensively promote the faster and better development of intermediary business of commercial banks with a broader vision and a more positive attitude.
(A) improve the understanding of the development of intermediary business, adjust the strategic focus. What is the key to developing intermediary business? I think the most important thing for senior management is to improve their understanding of intermediary business and treat it as a strategic height to ensure the sustainable and healthy development of banks. We should truly realize that developing intermediary business is an important means for commercial banks to improve their profitability, improve their customer structure and enhance their core competitiveness in the future, strengthen their leadership over intermediary business, truly establish the "troika" strategy for developing asset business, liability business and intermediary business, and form a new idea of driving the development of intermediary business with traditional business advantages. Support and promote the consolidation and development of traditional business with the development of intermediary business, and do a good job in intermediary business.
(2) Standardize the internal management of banks and optimize the intermediate business management department. All commercial banks should, according to the actual situation, integrate and rebuild the existing intermediary business management departments, establish specialized institutions to centrally manage intermediary business, be responsible for formulating intermediary business management systems, methods and operational procedures, be responsible for the research, development, design and promotion of intermediary business varieties throughout the bank, and conduct daily management and coordination of intermediary business to ensure the stable and healthy development of intermediary business.
(3) Accelerate product innovation and strictly guard against bank risks. If domestic banks want to survive and develop in the competition, they must increase the research and development of products. We should be market-oriented, break through the business scope and mode of traditional business, fully tap the potential market demand, study the market consumption psychology, analyze the market development trend, and actively develop new intermediate business products. On the premise of preventing risks, we should adhere to the principles of differential treatment, strengthening internal control and full disclosure, and bring intermediary business into the comprehensive risk management system of banks. For credit risk, we should establish a scientific and effective rating system and follow the principle of "improving classification accuracy?" Get ready? Really profitable? The capital adequacy ratio meets the regulatory requirements and the ability to resist risks is improved; For market risks, a management system for identifying, measuring, monitoring and controlling related risks should be established and improved in accordance with the requirements of the Measures for the Administration of Derivatives Trading and the Guidelines for Market Risk Management. For operational risks, banks should actively cultivate compliance culture, further improve and implement relevant rules and regulations, improve business processes and information systems, and increase the prevention of operational risks. In the process of developing intermediary business, banks should fully consider their own tolerance, control and capital strength for various risks, truly maximize their income by developing intermediary business, and avoid blindly following the trend and violating the original intention of development.
(four) to strengthen supervision, encourage and support banks to carry out intermediary business. The rapid development of intermediary business has brought new topics and challenges to supervision. Banking supervision departments must strengthen the initiative of supervision, organically combine the development of intermediary business of commercial banks with strengthening supervision, strengthen overall research, reduce disorderly competition, guide the benign development of intermediary business of commercial banks, and achieve the purpose of effectively resolving various risks.
At the beginning of the establishment of the CBRC, promoting financial stability and financial innovation was regarded as one of the good regulatory standards. To this end, a series of departmental regulations such as Interim Measures for the Management of Service Prices of Commercial Banks, Interim Measures for the Management of Derivatives Transactions of Financial Institutions, Guidance on External Marketing of Commercial Banks and Guidance on Market Risk Management of Commercial Banks have been formulated and promulgated one after another. In conjunction with relevant departments, the Measures for the Pilot Management of the Establishment of Fund Management Companies by Commercial Banks and the Measures for the Pilot Management of Credit Asset Securitization were formulated and promulgated to innovate the business of commercial banks in a timely manner. At present, in order to better promote the development of intermediary business of commercial banks and effectively prevent risks, the CBRC has prepared to set up the Bank Innovation Business Cooperation Department to provide organizational guarantee for the development of intermediary business of commercial banks, and will further improve the relevant policies and regulations system, improve market access and continuous supervision, and ensure the steady development of intermediary business of banks.
(5) Strengthen cooperation with the industry and improve the cooperation mechanism of the industry. China Banking Association and local banking associations should play an active role in strengthening the self-discipline and coordination of intermediary business of banks. This year, the China Banking Regulatory Commission promulgated the Working Guidelines of the Banking Association, which stipulates that the work of the Association this year will focus on regulating the intermediary business charges of commercial banks, safeguarding the legitimate rights and interests of banks, maintaining market order, promoting fair competition, and playing a role in improving the counter service and self-service level of retail customers of commercial banks and revealing the risks of bank lending counterparties. It is hoped that the staff of the Association will actively perform the functions of self-discipline, rights protection, coordination, service and publicity of the Association, adapt to the needs of banking reform and development in accordance with the requirements of the Working Guidelines of the Banking Association, and formulate banking standards in combination with the ongoing China Convention on Banking Self-discipline, the Convention on Rights Protection, the China Convention on Civilized Service of Banking Industry and the Banking Association, so as to assist the banking supervision and management departments in maintaining the order of financial market operation.
(six) pay attention to personnel training, improve the quality of professionals. Developing intermediary business requires high-quality professionals. Therefore, it is necessary to strengthen the training of intermediary business personnel, strict post standards, improve the service level of intermediary business, ensure the protection of consumers' legitimate rights and interests, and enable banks to prevent credit risk, market risk, operational risk, legal risk and reputation risk to the maximum extent. With regard to the training of supervisors, the CBRC will continue to adopt various ways to tap domestic and foreign resources, intensify the knowledge updating and skills training of supervisors, and constantly improve the professional level of supervision to meet the requirements of financial innovation.