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Analysis on the problems and countermeasures of credit for small and micro enterprises
With the development of the financial market and the opening of the banking industry, the credit business of banks is facing unprecedented fierce competition and challenges, and the credit of small and micro enterprises has gradually become the top priority to break through business bottlenecks and development restrictions. This paper expounds the risks existing in the development of small and micro enterprise credit business, and puts forward corresponding countermeasures for commercial banks, hoping to provide reference for the relevant theoretical research of small and micro enterprise credit and the commercial practice of small and micro enterprise credit in commercial banks. Keywords: small and micro enterprise credit; Financial risks; Classification number of the map in risk countermeasures: F830 Document ID: A Article Series16) 010-000-01.
I. Introduction As a large number of enterprises in China, small and micro enterprises have played an inestimable role in China's economic development. This problem is still the main factor hindering the development of small and micro enterprises. In view of this, this paper starts with the research of bank risk management, caters to the hot spots in this field, and analyzes the current situation of credit for small and micro enterprises in commercial banks, hoping to provide some help to relevant decision makers and leaders of banks. Second, although the credit risk analysis of small and micro enterprises has developed rapidly and has a good momentum, there are still many problems that need to be improved in the development, and small and micro enterprises themselves also have some credit risks. According to the statistics of China Banking Regulatory Commission, by the end of 20 14, there were three or four non-performing enterprises in China. Conclusion 2. What innovations are there in credit risk management of small and micro enterprises?
The innovations of credit risk management of small and micro enterprises are as follows: 1. Mode innovation, using asset guarantee and third-party guarantee to reconstruct the trading mode of credit default swap. 2. Effective post-loan management, which adopts the method of gradual distribution and allocates funds in batches to ensure the use channels of funds.
Third, discuss how to manage the credit risk of small business loans.
Since the company started the pilot in 2005, it has made vigorous development in a short time. As a new type of credit company, the company has brought new vitality and new opportunities to private financing, played an indelible role in promoting the development of small and medium-sized enterprises and building a new socialist countryside, and found a realistic financing road for small and micro enterprises. However, while developing rapidly, the risks are also worrying. The small loan industry still has the phenomenon of confusing fish with pearls and irregular management. There are many irregularities in the small loan industry when private capital pursues the maximization of interests. Therefore, improving the quality of credit assets and effectively preventing risks have become an unavoidable topic. So, how should the company control the credit risk? Below, Bian Xiao will briefly summarize it for your reference. 1. Strengthen the awareness of credit risk management. The general company's loan process is top-down, first obtaining the loan intention of the superior, and then handling it step by step. As a result, many grassroots personnel form the habit that their superiors have the intention to borrow money and follow the convenience. This reverse procedure operation will make some credit managers have a weak sense of risk. More serious will be false, inaccurate, concealing first-hand information and other false acts. Therefore, the company needs to improve the financial system learning, job skills training and moral cultivation of credit personnel. And formulate assessment and punishment mechanism, and constantly improve the management level, so as to effectively prevent and resolve credit risks. 2. Strengthen internal risk control. At present, the company still has management risks such as lax payment and weak internal control system. The pre-lending investigation is not deep enough, the borrower's data analysis is inaccurate, and the degree of attention is not enough. Only one-sided first-hand data analysis is attached importance. On the other hand, without knowing the borrower's operation and the use of funds, large loans are issued. Finally, the company's internal auditors lack independence and authority, and there is a lack of effective supervision and restriction between posts, so it is impossible to find and prevent risks in time. Therefore, the company should strengthen credit management, standardize the operation process of credit business, organize the establishment of customer credit file system, and strengthen tracking supervision. Taking Chongqing as an example, with the policy inclination and support of the People's Bank of China and Chongqing Business Management Department, Chongqing Company has created a "Chongqing Model" in which companies access the People's Bank's credit information system for centralized declaration, one-stop intervention and real-time inquiry, which is convenient for small loan companies to inquire about customer information conveniently and quickly. Two months after accessing the credit information system, six companies approved nearly 600 loans with the amount of 1. 13 hospital; 290 loan bonuses were refused, amounting to RMB 6,543,804,000, and 654.38+063 1 requisition report was inquired. The data proves that in order to strengthen the internal control risk, the company must pay attention to the collection of credit information, business ability and business equipment of the loan individual or company before lending, and standardize the business operation process. 3. Improve the level of risk identification and prediction, and improve the credit risk prediction mechanism. At present, some evaluations are interest-driven. When evaluating customers' assets, they are not evaluated according to their actual market value, but according to their requirements, which leads to serious real-time evaluation and finally serious losses. Therefore, when identifying and measuring various risk factors of loans, microfinance companies must use qualitative and quantitative analysis methods and take targeted evaluation to provide basis. In addition, small loan companies should make a clear analysis of policy risks, so that the final evaluation results can truly reflect the status and causes of credit risks. Therefore, although the rapid development of the company is a good thing, it seems that it also needs to be treated rationally and invested cautiously. Small loan companies themselves should strengthen risk management, constantly improve relevant internal control management systems, strengthen supervision and inspection, and ensure their healthy operation and development.
4. How to understand the relationship between financial innovation and risk management?
First, the financial innovation risk
1, Overview of Financial Innovation Risks
The risk of financial innovation refers to the possibility that the innovation measures of the innovation provider can not be implemented smoothly or the innovation income will be lost in the process of financial innovation. It consists of two parts, one is the various risks in the process of financial innovation design; The second is the risk in the implementation of financial innovation.
Financial innovation risk is different from industrial innovation risk. First of all, the risk of industrial innovation mainly lies in the degree of market recognition and potential income of new achievements, while the financial industry not only has the risk of industrial innovation, but also has special industry risks such as credit risk, interest rate risk and exchange rate risk. Financial innovation not only pursues profits, but also creates new risks. Secondly, financial innovation cannot be patented and is widely imitated and popularized. Only through imitation and promotion activities can innovation be truly accepted by the society. Otherwise, due to the uneconomical market scale and low acceptance, the market demand for innovation results is too small, and the innovation cost is too high, resulting in market defects, functional defects and value defects, it is difficult for innovators to obtain all potential benefits and maximize profits. Finally, the financial industry involves all aspects of the national economy, so the risk of financial innovation has a wider and greater impact than the risk of industrial innovation.
2. The composition of financial innovation risk.
(1) design risk. Design risk refers to the possibility that financial innovation measures cannot be introduced as scheduled due to various uncertain factors in the process of financial innovation design.
(2) Market risk. Market risk, also known as price risk, refers to the risk brought by the price change of financial derivatives caused by market price change. The market price here is mainly the price of the assets of the indicators. Different derivatives involve different market risks.
(3) Credit risk. Credit risk, also known as performance risk, refers to the risk caused by one party's failure to perform according to the terms of the contract in derivative products transactions.
(4) Liquidity risk. Liquidity risk refers to the risk that the holders of financial derivatives can only sell their derivatives at a lower price than the market price when they can't find a suitable opponent.
(5) Operational risk. Operational risk, also known as operational risk, refers to the risk caused by the failure of internal control system or clearing system.
(6) operational risk. Operational risk refers to the possibility of financial institutions' losses due to the complexity of financial products in the transaction process, such as misjudgment, bookkeeping error, settlement error, delivery error and contract error.
(7) Speculative risk. Speculation risk is the risk that financial market participants use financial innovation to speculate.
(8) Partner risk. Partner risk is the risk caused by the partnership between financial market participants.
(9) Legal risks. Legal risk is the risk brought to the transaction subject because the content of the transaction contract does not conform to the legal norms, the transaction contract does not have legal effect or other legal reasons.
(10) Reputation risk. Reputation risk refers to the adverse impact on the reputation of an institution or a party to a transaction that organizes financial innovation due to operational errors, failure to perform on time, violation of relevant laws and regulations or other reasons.
3, the causes of financial innovation risk
(1) Financial innovation makes inflation possible. First of all, financial innovation has expanded the main body of money supply. In the traditional financial system, the responsibility of money supply is mainly borne by the central bank and commercial banks. The central bank controls the supply of base money, while commercial banks create and contract money in the form of derivative deposits. After financial innovation, this pattern was broken. Many new liability accounts similar to demand deposits appeared in the financial innovation of commercial banks, which have strong deposit derivative ability. Moreover, non-bank financial institutions also use the electronic fund transfer system to open checking accounts, negotiable certificates of deposit, telephone payment, securitization loans and other businesses to create money. Although their ability to create money is not as good as that of commercial banks, they have expanded the main body of money supply and made it more difficult for banks to control credit. Driven by interests, banks and non-bank institutions will also expand credit indefinitely, thus increasing the money supply.
Secondly, financial innovation has improved the speed of currency circulation. Financial electronization is one of the characteristics of financial innovation. Financial institutions use electronic technology to change their business from traditional manual operation to automatic and mechanized operation. The popularity of new tools such as multifunctional credit card, automatic transfer service and bank telephone payment has obviously shortened the transaction time and improved the currency circulation speed.
(2) Financial innovation reduces the stability of the financial system. Since the 1990s, there have been several financial events that shocked the world: Mexican financial crisis, American orange incident, the collapse of Bahrain Bank, Southeast Asian financial crisis, Hong Kong stock market crash, etc., all because of excessive financial risks, which undermined the stability of the financial system. Therefore, both financial institutions and financial authorities generally carry out risk management and financial supervision with risk control as the core, putting risk prevention and stability in the first place.
(3) Financial innovation weakens the effectiveness of financial supervision. The field of financial supervision has expanded and the number of targets has increased. Under the background of financial innovation, the types of financial institutions have obviously increased, and various quasi-financial institutions have sprung up like mushrooms after rain. Due to the rapid development of production internationalization, a large number of multinational companies have emerged, and the demand for global financial services has increased. In addition, the continuous innovation in various financial fields has also promoted the development of multinational banks as financial institutions. Moreover, on the basis of business and organizational innovation of financial institutions, the business of various financial institutions has penetrated each other, and the division of labor between traditional banks and non-bank financial institutions has become increasingly blurred. Therefore, financial supervision should not only supervise traditional financial institutions, but also supervise various new financial institutions and quasi-financial institutions; It is necessary to supervise not only domestic financial institutions, but also multinational financial institutions; We should not only supervise the traditional financial business, but also supervise the emerging business. This increases the difficulty of financial supervision and reduces the effectiveness of financial supervision.
Judging from the relationship between financial innovation and financial supervision, the financial supervision system is always formulated for the existing financial business and business scope. However, in order to get rid of or escape from the control of financial authorities, financial institutions enhance their competitiveness through innovation in order to obtain more profits. On the contrary, when these financial innovations pose a threat to monetary policy or the objectives of financial authorities, the government or financial authorities will take new control and intervention measures, thus triggering a new round of targeted financial innovations. In this process, the innovation of financial supervision lags behind the innovation of financial business or tools, which makes the effectiveness of real financial supervision decline.
Second, the prevention of financial innovation risks.
1, financial innovation risk prevention system
Financial innovation risk prevention system is the main body of financial innovation risk prevention. In order to minimize the possible economic losses caused by financial innovation at home and abroad, we use relevant methods and means to identify, measure and control the risks of financial innovation. The system consists of four elements: the risk prevention target, the subject, the object and the method of financial innovation.
First, the goal of financial innovation risk prevention system. The goal of financial innovation risk prevention system is also the ultimate goal of constructing financial innovation risk prevention system, that is, to minimize the losses caused by financial innovation risks at home and abroad and the losses that may lead to reduced income and increased costs.
Second, the main body of the financial innovation risk prevention system. The main body of the financial innovation risk prevention system is the undertaker of the financial innovation risk prevention behavior, including the decision-makers and executors of the behavior, that is, the regulators and innovators of the financial market. In the practice of risk prevention, it is difficult to separate the subjects of these two levels.
Third, the object of financial innovation risk prevention system. The object of financial risk prevention system refers to the object of financial innovation risk prevention, that is, financial innovation risk, which includes design risk, market risk, credit risk, liquidity risk, operational risk, business risk, speculation risk, partner risk, legal risk and reputation risk.
Fourth, the methods of risk prevention in financial innovation. The risk prevention method of financial innovation refers to the technical measures to control the risk object of financial innovation, which is the key to the risk prevention system of financial innovation. The main methods to guard against the risk of financial innovation are risk avoidance, risk dispersion, risk distribution and transfer, risk early warning and pre-control management.
The construction of financial innovation risk prevention system is a systematic project, which uses systematic methods to systematically manage and prevent different financial innovation risks in order to reduce the probability or loss of risks.
(1) Avoidance of financial innovation risks. Risk avoidance refers to stopping or abandoning a decision-making scheme or adjusting or changing the risk handling mode of a decision-making scheme by considering many risk factors that affect the realization of the predetermined goal and combining the risk preference and risk tolerance of the decision-maker. The premise of avoiding risks is that financial innovation subjects can accurately understand their own conditions and external conditions, as well as the attributes and sizes of objective risks.
The correct risk avoidance strategy of financial innovation is not to avoid risks blindly, but to avoid risks at the right time and in the right way. The risk avoidance of financial innovation should be strategic, artistic and technical. When the main body of financial innovation is unable to bear possible losses by its own strength, it really cannot effectively prevent and control risks; When the subject of financial innovation has a variety of projects and fields to choose from, different choices may have different risks; When there is no need for financial innovation subjects to set foot in a certain field or take risks, they can adopt risk avoidance strategies.
(2) The dispersion of financial innovation risks. Risk diversification means that the same investor invests in different projects, so as to achieve the purpose of risk diversification. Most enterprises usually use portfolio, project portfolio and diversified management to spread risks, but in financial innovation, portfolio and diversified management can be used to spread risks.
First, the portfolio. There are many uncertainties in financial innovation, which makes the unsystematic risk much greater than that of ordinary financial business, so the possible investment income is also greater than that of ordinary business. Innovators are more willing to take greater risks just because they value this extraordinary income. However, in practice, innovative investors must carefully consider the losses caused by investment failure.
Second, diversification. One advantage of diversification is to reduce the fluctuation of profits, so the main body of financial innovation should strive to achieve the combination of minimum risk and maximum income. The innovation subject should choose the innovation combination with negative price correlation, which is conducive to dispersing risks, while the innovation combination with high correlation is not conducive to dispersing risks. However, we can't overestimate the role of risk diversification. Diversification not only disperses the resources used for financial innovation, but also puts forward higher requirements for the quality of innovators. Without forward-looking strategic vision and sensitive risk awareness, it will increase the cost of innovation and lead to the failure of financial innovation.
(3) Distribution and transfer of financial innovation risks. Risk allocation is different from risk dispersion. Risk allocation means that multiple investors participate in the same project, which makes more risks.
Allocate among investment entities. Obviously, with the increase of the number of investors, the risks borne by investors are decreasing. And with the increase of the number of investors, the overall risk is decreasing.
Risk transfer refers to the transfer of risk from one undertaker to another, which can be divided into financial transfer and non-financial transfer. The financial transfer of risks is that the undertaker of risk activities remains unchanged, but the subject of financial losses has shifted, such as taking insurance or guarantee to transfer risks. Non-financial transfer of risk is entity transfer, that is, all risk activities and their financial responsibilities are transferred from one undertaking entity to another, such as entrustment, contracting, bidding or sale to transfer risks. However, the transfer of financial innovation risk is different from the general project risk transfer, and the transfer of financial innovation risk is mostly realized through financial derivatives.
(4) Early warning and pre-control management of financial innovation risks. Effective risk early warning and pre-control management is the first barrier to ensure the safety of financial innovation. By monitoring the possible trends and symptoms of financial innovation risks, we can provide decision-making basis for financial innovation in time and prevent financial innovation risks from turning into financial crises. The management of financial innovation risk early warning and pre-control is mainly the selection of early warning and pre-control indicators and the operation of early warning and pre-control system.
The financial industry is a high-risk field with strong technology, rich profits and fierce competition. There is no financial operation system without any risk. Therefore, if we can predict the risk level in advance and take corresponding measures to prevent and resolve risks in time, we can avoid the financial crisis. Drawing lessons from the experience of world financial risk prevention, in the process of financial innovation, we can adopt the vertical risk early warning and pre-control management which combines macro, meso and micro early warning subsystems. Among them, the macro-financial early warning system mainly monitors macro-financial risks, that is, monitors the trend of international financial risks and the risks faced by a country's entire financial system; The meso-financial early warning system mainly monitors the financial risks faced by the financial system in various economic regions of China; The early warning system of micro-finance is mainly to monitor the financial risks faced by micro-financial institutions in a certain financial environment. These three early warning subsystems should coordinate their actions and implement monitoring from top to bottom.
2. Precautionary strategies for financial innovation risks.
(1) Risk prevention of financial supervision departments. First, improve legislation. Set up a complete set of legal procedures for financial innovation activities, and formulate unified financial transaction management standards to eliminate unnecessary risks in the transaction process, so that the whole process of financial transactions from the signing of contracts to the final implementation is regulated by corresponding laws. At the same time, establish an effective risk management and transaction consultation mechanism, so that financial institutions have measures to guard against financial risks and ensure investment safety.
Second, participate in the research and development of financial innovation. Financial supervision institutions should send special personnel to participate in the research and development of financial innovation, fully understand the process of financial innovation, accurately grasp the risks of their products, and organize relevant experts and professors to conduct a comprehensive demonstration of financial innovation products to investigate whether financial innovation can be carried out.
Third, strictly supervise the financial innovation activities of financial institutions. In addition to the capital adequacy ratio of financial institutions in accordance with the Basel Accord, a series of risk monitoring indicators should be given according to their capital, credit status, operating ability, risk resilience and current market fluctuations to control risks within an acceptable range.
Finally, strengthen the coordination of financial policies among countries. Traditional regulatory agencies are basically nationalized, and governments of all countries generally formulate financial policies from their own interests. Due to the lack of effective coordination between policies, large-scale speculative capital frequently enters and exits the financial markets of various countries to seek arbitrage, which magnifies financial risks. With the acceleration of international financial integration, the existing international financial system must be reformed accordingly, international cooperation should be strengthened, and monetary policy should be coordinated, so as to minimize the risks brought by financial innovation.
(2) Risk prevention of financial innovation subjects. First, establish a sense of risk management. In the process of innovation, the risks of financial institutions are increasing day by day, showing a trend of diversification and complexity. Facing the reality of the change of financial environment and the increase of risks, financial enterprises must establish the awareness and concept of risk management in order to achieve good operating benefits. It is necessary to establish a sense of risk among employees and let them understand that it is impossible to avoid risks blindly in a risky business environment. Only in the face of risks can we formulate effective measures to prevent and resolve risks.
Second, define the principles of risk management. Financial institutions should first follow the principle of prudent decision-making when innovating products and developing new business, and should not blindly rush for success. Financial institutions should also follow the principle of risk diversification, expand their business scope and implement diversified operations in order to achieve the purpose of risk diversification. In addition, in the process of innovation, financial institutions should follow the principle of avoiding risks, and in order to avoid risks, they should avoid high-risk businesses.
Third, establish a risk management system. Financial institutions should formulate an effective and feasible risk prevention system, combine their own characteristics, and establish a set of scientific risk prediction and evaluation index system on the basis of practice to make correct risk prediction. In addition, financial institutions should ensure the smooth flow of information in the system, constantly improve and perfect the internal control system, and timely repair and improve the loopholes in the financial risk early warning and pre-control system.
Fourth, strengthen internal supervision. To strengthen the internal supervision of financial innovation subjects, we should start from the following aspects. First, strengthen the management of off-balance sheet business. The main body of financial innovation should determine the proportion of off-balance sheet business in total assets according to its own scale, capital and ability, and grasp the off-balance sheet position well. At the same time, it is necessary to manage off-balance sheet business and on-balance sheet business separately, establish and improve the off-balance sheet business reporting system, and strengthen the statistics and accounting of off-balance sheet business. The second is to strengthen the regular and irregular internal audit of off-balance sheet business. Timely discover the problems existing in the operation of off-balance-sheet business and formulate measures to deal with emergencies. In order to strengthen the management of overseas branches, the headquarters should conduct centralized and unified regulation and control of overseas branches, stipulate their business scope, the scale of various businesses and the examination and approval authority, and strengthen the management of capital flow of overseas branches by the headquarters. Third, strengthen the internal control of financial institutions, divide important and high-risk departments within financial institutions and clarify their responsibilities, so that all departments can not only maintain coordination and cooperation, but also separate functions and share risks on the basis of mutual constraints.
Three. conclusion
The risk system of financial innovation is a complex chain in which various risks are intertwined and restricted. They both affect and act on the whole process of financial innovation. There are many reasons for the risk of financial innovation. This paper only analyzes the causes of financial innovation risk from three aspects: inflation, the stability of financial system and the effectiveness of financial supervision. In addition, the risk transmission in the international financial market is also one of the reasons for the risk of financial innovation. Therefore, the causes of financial innovation risk need to be further studied.
When carrying out financial innovation in China, we should fully consider the current national conditions, take serving economic development as the basic foothold, and take the market as the starting point and destination of financial innovation. When innovating, we should give full consideration to the characteristics of China's financial system and the developed degree of financial market, selectively develop financial products or introduce foreign innovation achievements, and avoid a one-size-fits-all approach. The purpose of financial innovation is to avoid risks and gain benefits. Therefore, before financial innovation, we should use various methods to analyze its risks and lay a theoretical foundation for the success of innovation.