信用风险-CREDITRISK

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AnnualReport2003ChinaDevelopmentBank838220034&' *' &' *&'  &' *&' &' **&' &(1)(2)(3)Inthefourthquarterof2003,usingtheabovematrixsystemandotherassessmentcriteriajudgementally,wecompletedanassessmentofcredit,marketandoperationalrisksinallareasoftheBank.AllresultsweresummarisedinaRiskProfileReport,whichwassubmittedtoALCO.Inaddition,wehavedevelopedbenchmarkriskmetricsandkeyperformanceindicatorsinordertoevaluatetheeffectivenessofmanagementÕseffortsatmanagingrisk.CDBisexposedtothreeprincipaltypesofrisk-(i)creditrisks,(ii)marketrisks,and(iii)operationalrisk.RISKMANAGEMENT&' *&&' *&' * &' **1.2.&' *&&'3.&' *&'&4.&'&' *&' *CREDITRISK5.&' *CreditriskistheriskthataborrowermaynotmeetitsobligationaccordingtotheoriginalcontractualtermsofitsfacilitywithCDB,anditisthemostsignificantriskfacedbyCDB.Giventhenatureofourlending-largebalance,longtermandhighconcentrationinafewindustries-effectivemanagementofcreditriskisourtopriskmanagementpriority.Ourcreditriskmanagementapproachiscomprisedofthefollowingkeyelements:1.Segregationoftheunderwriting,creditadministrationandriskmonitoringfunctions.2.Soundunderwritingproceduresandqualitycontrolstandardsdesignedtoensureahighlevelofassetqualityup-front.3.Proprietarycreditgradingtechniquesandmethodologiesthatprovideaconsistentbasisforeffectivelymanagingourcredits.4.Portfolioexposureandconcentrationlimitstodiversifyourrisktotheextentpossiblegiventhenatureofourbusiness.5.Robustcollectioneffortsandotherlossmitigationprocedurestoresolvenon-performingloans.&' *&' *&' *&' &' *&' *&' * &' *&' *AnnualReport2003ChinaDevelopmentBank8584RISKMANAGEMENTSEGREGATIONOFDUTIESTheultimateresponsibilityforcreditriskmanagementrestswithourGovernor.TheAsset/LiabilityManagementandCreditRiskRatingCommittees,whichareindependentofourbusinessunitsandreportdirectlytoourGovernor,havebeendelegatedtheauthorityfordirectingourcreditriskmanagementactivities.TheCreditRiskManagementDepartment,whichreportstotheCreditRiskRatingCommittee,isresponsiblefortheimplementationofourriskmanagementactivities.Throughtheindependenceofthesefunctionsandtheirclearlydefinedroles,CDBhasestablishedclearriskmanagementresponsibilitiesatboththeheadofficeandbranchlevels.Transactionsareexecutedinourbranchesandsubjecttothecontrolsputintoplacebymanagement.&' *&'  *&' *&&' *&&'&' *&' &' *&' * &' *&' *&&' *&' ()&' *&' *&' &' *SOUNDUNDERWRITINGPROCEDURESANDCREDITENHANCEMENTBecauseoftherelativelylargesizeofindividualloansinourloanportfolio,ourunderwritingprocedureshavebecomeverythoroughandstringent.Theunderwritingofourlargeloansalsoinvolvesindustryspecialistswhoarefamiliarwiththeuniquefundingneedsandrelatedrisks.Theygetinvolvedintheprojectduediligenceprocesslongbeforetheactualcreditapplicationissubmitted.Astheapprovaloflocalandprovincialgovernmentsisoftenrequiredforlargeinfrastructureloans,CDBalsoassessesthebudgetarycapacityofthesegovernmentstosupportinfrastructuredevelopmentloansindefault.Whilemanyloansarenotexplicitlyguaranteedbyanygovernmentbody,CDBhasestablishedmutuallyproductiverelationshipswithmanylocalandprovincialgovernmentsthathavefacilitatedthecollectionofpaymentsondefaultedloans.Whencreditapplicationsaresubmitted,thoroughanalysisisperformedbyanindependentunderwritinggroup.TheunderwritingprocessfocusesontheborrowerÕspastcreditperformance,itsfinancialpositionanddebtpaymentcapacity,theproposedcreditfacilitytermsandstructure,itsindustry,localgovernmentsupport(explicitandimplicit)andeconomictrends.Ofcourse,collateralandthirdpartyguaranteesarealsoconsidered.Suchanalysisisnormallypreparedbyboththeloanofficerandindustryspecialisttoensureitsobjectivity.TheapprovalofloansrestswiththeCreditRiskRatingCommittee.&&' *&' *(13)(7)&'(10)(12)&' &' *&&' *&' *AnnualReport2003ChinaDevelopmentBank8786RISKRATINGTOOLSANDMETHODOLOGIESWehavestartedthedesignofanInternalBasedRatingsystemthatincludesbothborrower(13grades)andfacilityratings(7grades)inaccordancewiththenewBASLEAccord.Inaddition,wehavealsodevelopedindustryratings(10grades)andgeographic

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