我国商业银行与黄金挂钩的结构性存款产品研究.pdfVIP

摘摘 要要 摘摘 要要 随着我国国民经济持续快速健康地发展，居民的投资意愿及现代理财观念的增强，金 融服务需求也日趋多样化，个人理财业务的发展成为商业银行发展的一个重点。在这样的 背景下，作为一种新型的理财产品，与黄金挂钩的结构性存款产品综合了固定收益证券和 黄金的特点，满足了人们对于抵御通货膨胀和实现资产保值增值的需要，得到了快速的发 展，但该产品隐藏的风险和问题却未引起有关投资者和监管部门的重视。 鉴于此，本文通过收集和调查我国各商业银行与黄金挂钩的结构性存款产品的相关资 料，尝试采用系统分析、比较分析的方法从历史、理论及实践的角度全方位地剖析该产品 的属性及特点，并利用合理的定价模型对中国银行的与黄金挂钩的结构性存款产品进行定 价，发现与黄金挂钩的结构性存款产品的收益率优于普通存款。此外，还对与黄金挂钩的 结构性存款的出现对微观主体和宏观主体产生的影响进行研究，指出在相关法规健全、投 资者利益保护、风险教育等方面存在的问题和不足。 关键词关键词：结构性存款、挂钩黄金、衍生工具、定价、风险防范 关键词关键词 I Abstract In the past decade, we had witnessed the rapid, profound, and ongoing development of Chinese economy. As the household accumulation of financial resources, the need of wealth management captured people’s attention. Personal financial services are becoming one of the promising operations for modern commercial banks. As one of newly designed financing instruments, gold linked structured notes have experienced a massive boom in China. One of the reasons for their appeal is that gold linked structured notes offer the joint benefits of fixed rate notes with gold. However, the hidden risks which are of primary importance to investors did not received deserved attention. Concerning all above factors, this article attempted to shed some light on gold linked structured notes based on some researches. The unique array of features of these notes was provided in both academic and practical way. A pricing model was then used to analyze the performance. It is founded that gold linked structured notes do offer a preferable option to deposits in yield. Besides, comparison