倾销应对之策与进风险管理-毕业论文外文翻译.docxVIP

Measures of Antidumping and Import Risk Management（Partly）Anthony M. SantomeroIII. Measures for AntidumpingHow are these techniques of risk management employed by the commercial banking sector? To explainthis, one must begin by enumerating the risks which the banking industry has chosen to manage and illustrate. how the four-step procedure outlined is applied in each area. The risks associated with the provision of bankingservices differ by the type of service rendered. For the sector as a whole, however the risks can be brokeinto six generic types: systematic or market risk, credit risk, counterparty risk, liquidity risk, operational riskand legal risks. Here, we will discuss each of the risks facing the banking institution, and in Section IV wwill indicate how they are managed.Systematic riskis the risk of asset value change associated with systematic factors. It is sometimereferred to as market risk, which is in fact a somewhat imprecise term. By its nature, this risk can be hedgedbut cannot be diversified completely away. In fact, systematic risk can be thought of as undiversifiable risk. All investors assume this type of risk, whenever assets owned or claims issued can change in value as a resultof broad economic factors. As such, systematic risk comes in many different forms. For the banking sector，however, two are of greatest concern, namely variations in the general level of interest rates and the relativevalue of currencies.Because of the banks dependence on these systematic factors, most try to estimate the impact of theseparticular systematic risks on performance, attempt to hedge against them and thus limit the sensitivity tovariations in undiversifiable factors. Accordingly, most will track interest rate risk closely. They measure and manage the firms vulnerability to interest rate variation, even though they can not do so perfectly.Atthe same time, international banks with large currency positions closely monitor their foreign exchange riskand tr