VI: 澳大利亚商业银行风险管理 发言人：Ken Waller, 澳洲联邦银行高级顾问 ASIA-PACIFIC DEVELOPMENT CENTRE WORKSHOP ON RISK MANAGEMENT IN COMMERCIAL BANKS SHANGHAI, 20/21ST DECEMBER 2005 VI: 澳大利亚商业银行风险管理 发言人：Ken Waller, 澳洲联邦银行高级顾问

Agenda 综述 1. Why risk management is critical to good banking 风险管理对于银行经营的重要性 2. Summary of key risks impacting on banks 银行业面临的主要风险 Australia’s economic environment 澳洲经济环境 4. Australia – financial regulatory approach 澳洲金融监管体系 Major risk management challenges 风险管理面临的挑战 6. Responses to risk challenges 应对挑战 7. Implementing Basel II – Australia’s experience 澳洲实施新巴塞尔协议的经验 Challenges in implementing Basel II 　　新巴塞尔协议面临的挑战 Benefits from strengthened risk management 深化风险管理的益处 Conclusions 结论

1. Why risk management is critical to good banking 风险管理的重要性 I refer to the comments I made in Session II of this workshop 请参照我在第二讲中所讲的内容 Summarising: 小节 - fundamental obligation to protect depositors 保护储户的基本义务 - returns to shareholders 回报股东 - vital for confidence in banks/banking system 保持银行业/银行系统信心 - stability for growth and national development 有助于国家经济的稳健发展

2. Summary of key risks impacting on banks 银行业面临的主要风险 Domestic and international economic and political environment 国内国际政治经济环境 Quality of monetary and budget policies and the legal framework 货币、预算政策和法律框架的有效性 Global growth outlook, and risks 全球发展前景及风险

3.Australia’s economic environment 澳洲经济环境 Relevant in context of risk management- 与风险管理相关联的经济环境 - continuing a long period of relatively strong economic growth 经济发展在较长时间内保持稳健 - low inflation 低通货膨胀 - budgets in surplus – strong fiscal outlook 预算盈余- 乐观的财政前景 - solid global outlook – with risks 全球前景稳定 Good banking sector: profitable, well capitalised, low non-performing loans – highly competitive 银行业运作良好-赢利、资本配置合理、不良贷款率低-竞争激烈

4. Australia – financial regulatory approach 澳洲金融监管体系 Present system has evolved after a long period of reform 现有体制经历了长期改革演变而来 Major changes followed the Financial System Inquiry in 1997 1997年“金融体制质询” 引起重大改变 Led to formation of Australian Prudential Regulatory Authority (APRA) - to supervise all deposit taking institutions (ADIs)and life and general insurance and superannuation 　设立澳大利亚金融监管局 -监管所有授权存款机构 (ADIs)、人寿和一般保险、以及退休金体制 ADIs include banks, building societies, credit unions and other licensed deposit takers　 　授权存款机构 (ADIs）包括银行、建筑资金融资合作社、信用合作社以及其它授权存款机构

4.2 Australia - financial regulatory approach (continued) 澳洲金融监管体制（续） Reserve Bank of Australia (RBA) – central bank, responsible for　澳大利亚储备银行－中央银行 - monetary policy　制定货币政策 - systemic stability　维持金融系统的稳定 - payments system　建立并维护支付系统 and is lender of last resort　最后贷款人 Australian Securities and Investment Commission (ASIC) – responsible for　澳大利亚证券和投资委员会 - enforcement and regulation of company　　 and financial services laws to protect consumers, investors and creditors　 　　　　执行公司法及金融法规以保护消费者、投资者和　　　债权人的利益

4.3 Australia – financial regulatory approach (continued) 澳洲金融监管体系（续） Australian Competition and Consumer Commission (ACCC), responsible for: 　　澳大利亚竞争和消费者委员会： - promotion of fair trade in the market place to benefit consumers, business and the community　 　　提倡市场公平交易以使消费者、商业界和社会群体受益 Banks are subject to and impacted under various laws and regulations to requirements of APRA, RBA, ASIC and ACCC 　为达到监管机构的要求，银行受到APRA、RBA、ASIC和ACCC多种法律和规章的制约及影响

4.4 Australia - financial regulatory approach (continued) 澳洲金融监管体系（续） Regulatory structure aims to:监管体系的目的 - provide consistent regulation for similar financial products　统一监管性质相似的金融产品 　- be responsive to technological changes and innovations in financial services　 　　负责金融服务的技术更新和产品创新 - achieve competitive neutrality　　 efficient markets, reduced costs to consumers 　　在市场竞争中保持中立地位 ，提升市场效率，　　　　　为消费者节省开支 - provide effective regulation of conglomerates　 　　有效的监管金融集团　 - be internationally competitive 　　加强国际竞争力

5. Major risk management challenges 风险管理面临的主要挑战 complacency arising from strong economic environment 　 强劲的经济发展环境导致了自我满足心态的滋生 new technology and outsourcing　 　 新科技的涌现和外包服务的兴起 competition, and for individual banks maintaining and growing market share 银行需要维持和扩大市场份额 operational risks　操作风险 governance and skills base　治理和技术基础 - regulatory risk　监管风险

Responses to risk challenges 应对挑战的措施 Major responses 主要措施 integrated risk management under strong governance systems 将风险监管纳入有力的管理体系中 - constantly refine credit and modeling processes 不断改进信用和建模流程 - strengthen portfolio quality assurance 加强投资组合质量保证 stress testing under different scenarios 在不同场景下进行压力测试 sound procurement policies 良好的采购政策 business continuity strategies 业务持续发展战略 skilled board, management and staff 专业的董事会、管理层和员工 constructive public discussion to remove regulatory overlap 展开建设性的公众讨论以消除重复监管

7. Implementing Basel II – Australia’s experience 澳洲实施新巴塞尔协议的经验 Banks supervised under Basel I capital adequacy requirements and move to Basel II is seen as a logical and constructive advance 　新巴塞尔协议肯定了旧巴塞尔协议对银行资本充足率的要求，认为这是符合逻辑的，并且是建设性的进步。 Basel II framework widely supported by banks and by regulatory authorities 　　新巴塞尔协议框架得到了银行业和监管部门的广泛认同 To be implemented on 1 January 2008 　将在2008 年１月１日实施

7.2 Implementing Basel II – Australia’s experience (continued) 　澳洲实施新巴塞尔协议的经验（续） Australian internationally active banks (7 banks) seeking advanced internal rating based status (AIRB) for credit risk and the advanced measurement approach (AMA) for operational risk　 　澳洲国际活跃银行（ ７家）采用高级内部评级法来衡量信用风险，采用进阶衡量法来计量操作风险 Regional banks (around 46) will seek standardised approach 　区域性银行（约46家）将采用标准法

7.3 Implementing Basel II – Australia’s experience (continued) 澳洲实施新巴塞尔协议的经验（续） Banks support Basel II　银行支持新巴塞尔协议 - aligns supervisory arrangement with credit rating and processes in operation in most major banks for last 10 years or so 　　10多年来，一直在监管措施与银行的信用评级和操作流程间协调 Better aligns regulatory capital with banks’ assessment of economic capital 　　将监管资本与银行对经济资本的评估本更好的结合起来 Principles based approach rather than rules-based – preferred 　　采用原则导向方法而非准则导向方法

8. Challenges in Implementing Basel II 实施新巴塞尔协议面临的挑战 Developing an integrated approach to risk management is complex in terms of managerial processes – requiring a concerted effort to implement by boards and management　 　从管理流程角度来讲，开发一种统一协调的风险管理方法是非常复杂的－这需要董事会和管理层的通力合作 For most if not all banks, it requires a constant upgrade of data, testing and modeling for managing credit, market and operational risk 　对大多数银行来讲，这要求不断更新数据系统、进行信用风险、市场风险和操作风险管理测试以及针对三种风险管理设计模型

8.2 Challenges in implementing Basel II (continued) 实施新巴塞尔协议面临的挑战（续） Changes required to improve “culture” 　要求“文化”的改进 Critical improvement needed in governance structures –要求治理结构关键性的改进 　 - in response to Basel II 　　对新巴塞尔协议作出反应 - changing corporate environment　 　　改变企业环境 - Sarbanes Oxley 　　萨班斯·奥克斯利法案

9. Benefits from strengthened risk management 深化风险管理的益处 Confidence in banks – deposit growth slowing - but banks offering diversified services to individual and corporate clients, facilitated by skilled risk management　 　提升银行信心－虽然存款增长缓慢，但是专业化的风险管理有助于银行为个人或公司客户提供多元化的金融服务 And while highly competitive financial sector with new and monotype service providers, banks generally continue to grow strong returns to shareholders　 　尽管银行与新出现的服务商或单一服务提供商竞争激烈，总的来讲银行仍在为股东赚取利润

9.2 Benefits from strengthened risk management (continued) 深化风险管理的益处（续） Pillar 3 - better assessment by markets of banks with high quality risk management systems　 　　支柱３－银行市场运用高质量的风险管理系统进行更好的评估　 - should lead to lower costs of capital for well rated banks　 　　对于信用等级高的银行，其资金成本应该降低 　　Enhances capacity of banks to lend to riskier business – at right risk premium 　　提高银行向高风险企业贷款的能力－以适当的风险溢价 Expected modest reduction in overall regulatory capital charges – perhaps approaching the floor of 90% under the Basel II framework 　期望适当降低总的监管资本要求－在新协议框架内可能接近下限的90%　

9.3 Benefits from strengthened risk management (continued) 　　　深化风险管理的益处（续） To regional banks – standardised approach - depositors more secure because of more disciplined approach to lending　 　区域性银行－标准法－由于贷款受到有效约束，存款人将更有保障 - standardised approach will be “default” option, allowing banks to move to advanced approach 　将标准法做为“默认”选定的方法后，银行仍可改选高级内部评级法 　- overall, expectation of a modest reduction in capital requirement (high proportion of lending in housing mortgages)　 　总之，有希望适当降低资本要求（住房抵押贷款比例较大）

10. Conclusions 结论 Many factors influence risk for banks 银行风险受多种因素的影响 　银行风险受多种因素的影响 Basel II is a sensible progression of banking supervision – well focused on quality of risk management　 　新协议构建了一套更具风险敏感性的银行监管体系 －强调风险管理质量 Australian banks welcome Basel II　 　新协议受到澳洲银行界的欢迎 Many challenges in upgrading credit, market and (new) operational risk management – strong governance　 　在改进信用、市场及操作风险管理中仍遇到不少挑战－完善的治理 Benefits to depositors and shareholders and to community – economic growth.　 　储户、股东及社会三方受益－经济增长