摘要
由于次级长期债兼有债务和股权的特征,因此可用来补充资本金。作为银行资本有机组成部分,发行次级债还可降低资本金平均成本,提高股东回报率。面对外资银行的冲击,国内商业银行都相继选择发行次级债券来改变其资本充足率,特别是作为股改上市后补充资本金的一条重要渠道,发行次级债券一直为各家商业银行所采用。所以,对商业银行发行次级债券进行了国际比较并进行对策研究,就要借鉴国外成熟经验,不断完善科学定价体系,加强与金融监管当局的协调与配合,改善商业银行的经营状况,防范因发行次级债券而引起的金融危机。
Long-term subordinated bonds can be used to supplement the capital because of its characteristics of both debt and equity.As an organic part of the bank capital,banks issue subordinated bonds in order to reduce the average capital cost and increase shareholder returns.Faced with the impact of foreign banks,domestic commercial banks issue bonds one after another to choose to issue subordinated bonds to improve capital adequacy ratio.Particularly as a very important way of supplement the capital after the shareholding reform and becoming listed companies,issuing subordinated bonds has been utilized by commercial banks.So if we would like to study international comparison and countermeasures of issuing subordinated bonds in Chinese commercial banks,we should learn from foreign mature experiences,keep improving scientific pricing systems,strengthen financial regulators' coordination and cooperation,improve the performance of commercial banks,and prevent financial crisis because of issuing subordinated bonds.
出处
《商丘职业技术学院学报》
2011年第1期35-37,共3页
JOURNAL OF SHANGQIU POLYTECHNIC
关键词
次级债券
附属资本
核心资本
资本充足率
subordinated bonds
supplementary capital
core capital
capital adequacy ratio
