商业银行风险分析之利率风险【外文翻译】

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1、外文文献翻译译文一、外文原文原文：AnAnalysisofCommercialBankExposuretoInterestRateRiskBanksearnreturnstoshareholdersbyacceptingandmanagingrisk,includingtheriskthatborrowersmaydefaultorthatchangesininterestratesmaynarrowtheinterestspreadbetweenassetsandliabilities.Historically,borrowerdefaultshavecreatedthegreates

2、tlossestocommercialbanks,whereasinterestmarginshaveremainedrelativelystable,evenintimesofhighratevolatility.Althoughcreditriskislikelytoremainthedominantrisktobanks,technologicaladvancesandtheemergenceofnewfinancialproductshaveprovidedthemwithdramaticallymoreefficientwaysofincreasingordecreasingi

3、nterestrateandothermarketrisks.Onthewhole,thesechanges,whenconsideredinthecontextofthegrowingcompetitioninfinancialserviceshaveledtotheperceptionamongsomeindustryobserversthatinterestrateriskincommercialbankinghassignificantlyincreased.Thisarticleevaluatessomeofthefactorsthatmaybeaffectingtheleve

4、lofinterestrateriskamongcommercialbanksandestimatesthegeneralmagnitudeandsignificanceofthisriskusingdatafromthequarterlyReportsofConditionandIncome(CallReports)andananalyticapproachsetforthinapreviousBulletinarticle.Thatriskmeasure,whichreliesonrelativelysmallamountsofdataandrequiressimplifyingas

5、sumptions,suggeststhattheinterestrateriskexposureforthevastmajorityofthebankingindustryisnotsignificantatpresent.Thisarticlealsoattemptstogaugethereliabilityofthesimplemeasure’sresultsforthebankingindustrybycomparingitsestimatesofinterestrateriskexposureforthriftinstitutionswiththosecalculatedbya

6、morecomplexmodeldesignedbytheOfficeofThriftSupervision.Theresultssuggestthatthisrelativelysimplemodelcanbeusefulforbroadlymeasuringtheinterestrateriskexposureofinstitutionsthatdonothaveunusualorcomplexassetcharacteristics.SOURCESOFINTERESTRATERISKInterestrateriskis,ingeneral,thepotentialforchange

7、sinratestoreduceabank’searningsorvalue.Asfinancialintermediaries,banksencounterinterestrateriskinseveralways.Theprimaryandmostoftendiscussedsourceofinterestrateriskstemsfromtimingdifferencesintherepricingofbankassets,l