金融专业毕业论文外文翻译--关于巴塞尔ii：新巴塞尔资本协议的影响-金融财政(编辑修改稿)

金融专业毕业论文外文翻译--关于巴塞尔ii：新巴塞尔资本协议的影响-金融财政(编辑修改稿)内容摘要：

aselI is used in more than 100 countries,far more than was initially expected. Despite this apparent success in achieving its primary goals,it is clear that Basel I has also had some unintended and undesirable effects,owing to the relatively crude way in which minimum capital requirements are currently the current approach,banks must hold 8 percent of riskweighted assets(RWAs) in eligible book equity (Tier 1 and Tier 2 capital).Most assets are fullyweighted,with very limited recognition of underlying credit risk. The lack of risksensitivity of the current accord has meant that many banks have migrated away from attractively priced,fully RWAs to higherrisk lending or to zero RWAs,even if these assets are to low quality corporate issuers and OECD banks/ symptom of the undesirable effects of Basel I has been the increasing use of regulatory arbitrage aimed at growing returns while limiting regulatory balance sheet growth( revolving loans and RWAdriven securitizations).Another deficiency of the current approach is that it only considers credit and market risk,ignoring operational risk for has meant that certain business lines such as advisory services,asset management,custody and deposit taking have e to be thought of as“riskfree”. The way in which Basel II seeks to address many of the problems associated with its predecessor is briefly summarized in Figure can be seen,Basel II is built around three pillars covering minimum capital requirements,supervisory review and market discipline. Pillar I specifies minimum capital requirements for banks39。 exposure to credit risk(substantially revised and enhanced from Basel I),market risk(unchanged from a 1997 Amendment to Basel I) and operational risk(new in Basel II). For credit risk,banks can choose from three approaches under Pillar I:The standardized approach relies largely on external ratings and regulatory other approaches are both internal ratingsbased(IRB)approaches,that allow banks to use their internal models to calculate capital two approaches differ in their relative sophistication and the degree to which a bank is allowed to rely on its actual portfolio behavior:the simpler is known as the IRB foundation approach,the more plex as the IRB advanced ,unlike the Basel I approach,individual banks will have different minimum capital requirements depending upon the sophistication of their internal credit risk management capabilities and the risk characteristics of their respective lending books,as described in Figure 2. Figure 1 Framework of the Basel II Accord Figure 2 The three approaches to credit risk under Pillar I There are also three possible approaches for operational two simplest,the basic and standardized approaches,require a percentage of gross ine(or,in special cases,assets)to be held against operational most sophisticated,the advanced measurement approach(AMA),pushes the frontier of operational risk quantification,and its capital implications have not yet been finalized. Pillar II of Basel II requires regulators to assess the appropriateness of a bank39。 s risk management processes and capital position to sustain a target level of II is explicit in its expectation that banks will continue to hold capital in excess of the minimum levels derived through the Pillar I assessment is to be based on a thorough review of the institution39。 s firmwide risk management capabilities and degree to which such internal risk measurement tools are used by individual banks inconducting daytoday business. Regulators are required to intervene if risk or capital management processes are deemed unsatisfactory. Finally,Pillar III is intended to foster increased market discipline into the traditionally private and historically opaque world of bank risk and capital will fundamentally transform financial reporting for banks by demanding increased depth and breadth of disclosure including,for the first time,pulsory reporting of sensitive risk parameters and the risk profile of the banks39。 Basel Committee has worked with the International Ac。