短期融资及设备融资风险管理RiskManagementofShortterm.ppt
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1、短期融资及设备融资风险管理 Risk Management of Short-term Financing and Equipment Financing,引言 Introduction,数据一:上市公司数与中小企业数的比较 Data I: Comparing the number of public companies and small and medium-sized enterprises (SME) 截止2008年6月5日 国内中小企业数 As of June 5, 2008 the number of small and medium-sized enterprises 2006年
2、底3151.8万家,较上年增长 11.2% ,预计2012年将达到5000万 家,年均增长率 7%-8% There were 31.518 million SMEs at the end of 2006, an increase of 11.2% year-on-year. It is estimated to be up to 50 million SMEs by 2012, a yearly average increase of 7%-8%.,VS,引言 Introduction,数据二:直接融资额与间接融资额的比较 Data II: Comparing of the value of
3、 direct financing and indirect financing,引言 Introduction,数据分析 Data Analysis 能直接融资的企业仍为少数,大多数企业需依赖自有资金及银行融资 Few enterprises are able to finance directly. Most of the enterprises depends on owned-capital and bank financing. 直接融资比例虽有所提高,但间接融资仍居于主导地位。 Though the percentage of direct financing increased,
4、 indirect financing still occupies a leading position.,引言 Introduction,中国金融机构贷款余额及构成 Loan Balance and break down of China Financial Institutions,单位:亿元 In RMB, Hundred Million,贷款余额年平均增长16% The yearly average increase of 16% in the loan balance.,Short-term loan,Medium and long-term loan,Others,第一部分 国内
5、短期融资主要品种 Part I The Varieties of Domestic Short-term Financing Products,不基于单笔贸易的短期融资品种 The varieties of short-term financing products based on non-single trade transaction 营运资金贷款 Working capital loan 周转限额贷款 Revolving line of credit loan 临时贷款 Temporary loan 搭桥贷款 Bridge loan 贷款承诺 Loan commitment,1、营运资
6、金贷款 1. Working capital loan 满足借款人日常经营中合理的连续使用需求 The borrower uses for normal business operations or to meet continuous need for capital 未来综合收益和其他合法收入等作为还款来源 Future income and other legal income are the resources for repayment. 可采用循环贷款方式,一次签约、多次提款、逐笔归还,循环使用 It could be revolving loans. Sign contract
7、once, draw down several times, repayment by transactions.,第一部分 国内短期融资主要品种 Part I The Varieties of Domestic Short-term Financing Products,2、周转限额贷款 2. revolving line of credit loan 满足借款人日常经营中确定产品用途项下的资金短缺需求 Finance confirmed products in normal operation when borrower are short of capital 以约定的、可预见的经营收入
8、作为还款来源 The agreed predicted operating income is the repayment resource.,第一部分 国内短期融资主要品种 Part I The Varieties of Domestic Short-term Financing Products,3、临时贷款 3. Temporary loan 满足季节性或临时性的资金需求 To finance the seasonal or temporary capital needs. 依据订单组织备货和生产 Preparing the material and production accordi
9、ng to the order. 以对应的产品(商品)销售收入和其他合法收入等作为还款来源 The sales of relevant products and other legal income are the repayment resources.,第一部分 国内短期融资主要品种 Part I The Varieties of Domestic Short-term Financing Products,4、搭桥贷款 4. Bridge loan 满足阶段性的资金需求 To finance the interim capital needs. 以未来所获政府拨款等非经营性现金流作为还款
10、来源 The cash flow from non-operation is the repayment resource, such as government funding. 主要适用已落实计划内资金暂时无法到位,需要先行垫付资金的借款人(学校、医院等事业法人或城市建设投资公司等企业法人) It is mainly to finance the borrowers until permanent or the next stage of financing can be obtained, such as school, hospital or other non-profit orga
11、nizations and urban develop and investment companies.,第一部分 国内短期融资主要品种 Part I The Varieties of Domestic Short-term Financing Products,5、贷款承诺 5. Loan commitment 满足借款人未来一定时期内或有的融资需求,向其出具的具有法律约束力、允许其在需要时按照合同约定条件提取贷款的信贷承诺 To meet the contingent financing needs in a certain period in the future, the a len
12、der makes commitments that are contractual obligations for future funding to a borrower on specific terms in return for a fee 为借款人提供信用支持(发行债券或商业票据、向第三方融资、收购资产) Provide credit support to borrowers such as bonds, commercial paper, financing from a third party, acquiring assets, etc.,第一部分 国内短期融资主要品种 Pa
13、rt I The Varieties of Domestic Short-term Financing Products,基于单笔贸易的短期融资品种 The varieties of short-term financing products based on single trade transaction 保理 Factoring 打包贷款 Packing loan 国内发票融资 Domestic invoice financing,第一部分 国内短期融资主要品种 Part I The Varieties of Domestic Short-term Financing Products,
14、1、保理 Factoring 应收账款须符合以下条件: The accounts receivable (AR) should meet the following requirements: 1.应收账款权属清楚,销货方未将其转让给任何第三人,也未在其上为任何第三人设定任何质权和其他优先受偿权; The property of the AR should be clear. The seller neither sell it to any other third party nor set any other pledge right or priority right to be rep
15、aid on the AR. 2.销货方与购货方在合同中未约定应收账款不得转让的条款 There are not any terms that the AR couldt be sold in the contract between the seller and debtor. 3.应收账款账期与行业特征相吻合 The period of AR should be accord with the industry.,销货方 Seller,购货方 Debter,购销合同 Contract,银行(保理商) Bank (Factor),应收账款转让 Sells its accounts recei
16、vable,融资、账款 管理 Financing and account managmeent,还款 repayment,资信 调查 Credit investigation,第一部分 国内短期融资主要品种 Part I The Varieties of Domestic Short-term Financing Products,2、打包贷款 2. Packing loan 用于出口商装船前生产、收购、运输等费用的支出 provide support to export enterprise to finance the expenses of production, acquisition
17、, transportation before shipping. 出口商以收到的信用证项下的预期收汇款项作为还款来源 The predicted remittance under L/C from export enterprise is the repayment resource.,第一部分 国内短期融资主要品种 Part I The Varieties of Domestic Short-term Financing Products,3、国内发票融资 3. Domestic invoice financing 境内销货方(借款人)在不让渡应收账款债权情况下,以其在国内商品交易中所产生
18、的发票为凭证向银行融资 If the seller doesnt sell its AR, the seller get loan from the bank by the invoice of domestic trade. 发票所对应的应收账款为第一还款来源 The amount of the AR on the invoice is the first repayment resource. 适用于与银行核心客户具有稳定购销关系、并为其提供上游配套产品的中小客户或中低端客户 It applies to medium and small customers who has a stable
19、 relationship between the key customers of the banks. 发票及其对应的应收账款须符合以下条件: The invoice and the AR should meet the following requirements: 1. 发票真实、合法、有效;The invoice is authentic, legal and effective. 2. 发票所列商品为销货方的主营产品 The product listed in the invoice should be the main product of the seller. 3. 应收账款
20、还款期限一般不超过半年;The account period of the AR cant exceed half a year. 4. 应收账款权属清楚 The property of the AR should be clear.,第一部分 国内短期融资主要品种 Part I The Varieties of Domestic Short-term Financing Products,第二部分 短期资金授信风险分析 Part II The analysis on the credit risk of short-term capital,短期资金授信相关风险 The credit ris
21、ks of short-term capital 债务主体风险 debtor risk 市场风险 market risk 业务风险 operation risk 政策风险 policy risk 担保风险 guarantee risk 银行管理风险 bank management risk,1、债务主体风险 Debtor risk 风险 识别 “5C” 法则 5C principles in defining risks,特质(Character),资本(Capital),能力(Capacity),环境(Condition),抵押(Collateral),风险规避措施: Means of av
22、oiding risks,信 息 收 集,财 务 分 析,非 财 务 分 析,趋 势 分 析,第二部分 短期资金授信风险分析 Part II The analysis on the credit risk of short-term capital,Information collection,Financial analysis,Non-financial analysis,Trend analysis,2、市场风险 2. Market risk 市场 风险 识别 Define the Market risk,宏观经济 Macro economy,行业周期及波动 Industry cycle
23、 & fluctuation,竞争状况 competition,行业壁垒 Industry barriers,产品替代性 Product Substitutability,风险规避措施: Means of avoiding risks,行业分析 Industry analysis,汇 率 风 险,利 率 风 险,产 品 价 格 波 动,受信人风控水平分析 Risks of borrower analysis,第二部分 短期资金授信风险分析 Part II The analysis on the credit risk of short-term capital,Exchange rate ri
24、sk,Interest rate risk,Price fluctuation,3、业务风险 3. Operation risk,不基于单笔贸易的短期融资业务风险 The risks of short-term financing products based on non-single trade transaction 用途合理性 Fair in the usage 金额合理性 Fair in the amount 还款来源的可靠性 Reliability of repayment 风险规避措施: Means of avoiding risks 加强贷后检查 Strengthen the
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