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近几十年来,全球金融市场交易活动发展迅猛,商业银行交易业务规模迅速扩大,交易业务结构日趋复杂。本轮全球金融危机中,交易业务,特别是复杂衍生品交易,导致部分全球大型金融机构出现巨额亏损,成为危机爆发的重要导火索,并显著扩大了金融危机的负面影响。本轮国际金融危机以来,巴塞尔委员会从根本上反思和完善市场风险资本监管制度,并大幅度提高了市场风险资本监管标准。相对而言,国内金融市场的规模、产品种类、投资者群体等都还处于初期发展阶段,国内银行交易业务整体规模较小,交易产品简单,因此在本轮危机中受到的冲击很小。
In recent decades, the trading activities in the global financial markets have witnessed rapid development. The scale of the trading business of commercial banks has rapidly expanded, and the structure of the trading business has become increasingly complicated. In the current round of global financial crisis, trading business, especially the trading of complex derivatives, led to huge losses in some of the world’s major financial institutions, becoming an important fuse for the crisis and significantly widening the negative impact of the financial crisis. Since the current round of international financial crisis, the Basel Committee has fundamentally reviewed and improved the market risk capital supervision system and substantially raised the market risk capital supervision standards. Relatively speaking, the scale of domestic financial markets, the types of products and the investor groups are still at an early stage of development. The overall size of the trading business of domestic banks is relatively small and trading products are simple. Therefore, the impact of this round of crisis is small.