銆€銆€2013骞淬€婇ⅷ(f膿ng)闅�(xi菐n)绠＄悊銆嬬涓夌珷鑰冮粸(di菐n)锛氫俊鐢ㄩⅷ(f膿ng)闅�(xi菐n)瑷�(j矛)閲�

     3.2 淇＄敤棰�(f膿ng)闅�(xi菐n)瑷�(j矛)閲�

銆€銆€淇＄敤棰�(f膿ng)闅�(xi菐n)瑷�(j矛)閲忔槸鐝�(xi脿n)浠ｄ俊鐢ㄩⅷ(f膿ng)闅�(xi菐n)绠＄悊鐨勫熀绀�(ch菙)鍜岄棞(gu膩n)閸电挵(hu谩n)绡€(ji茅)銆備俊鐢ㄩⅷ(f膿ng)闅�(xi菐n)瑷�(j矛)閲忕稉(j墨ng)姝蜂簡寰炶€佸斧鍒ゆ柗娉�銆佷俊鐢ㄨ⿻(p铆ng)鍒嗘ā鍨嬪埌閬曠磩姒傜巼妯″瀷鍒嗘瀽涓夊€�(g猫)涓昏鐧�(f膩)灞曢殠娈�锛岀壒鍒ユ槸銆婂反濉炵埦鏂拌硣鏈崝(xi茅)璀般€嬮紦鍕�(l矛)鏈夋浠剁殑鍟嗘キ(y猫)閵€琛屼娇鐢ㄥ熀浜庡収(n猫i)閮ㄨ⿻(p铆ng)绱�(j铆)楂旂郴鐨勬柟娉�(InternaRating-Based Approach)渚嗚▓(j矛)閲忛仌绱勬鐜�銆侀仌绱勬悕澶卞苟鎿�(j霉)姝よ▓(j矛)绠椾俊鐢ㄩⅷ(f膿ng)闅�(xi菐n)灏�(du矛)鎳�(y墨ng)鐨勮硣鏈姹�锛屾湁鍔涘湴鎺ㄥ嫊(d貌ng)浜嗗晢妤�(y猫)閵€琛屼俊鐢ㄩⅷ(f膿ng)闅�(xi菐n)鍏�(n猫i)閮ㄨ⿻(p铆ng)绱�(j铆)楂旂郴鍜岃▓(j矛)閲忔妧琛�(sh霉)鐨勬繁鍏ョ櫦(f膩)灞曘€�

銆€銆€鍟嗘キ(y猫)閵€琛屽皪(du矛)淇＄敤棰�(f膿ng)闅�(xi菐n)鐨勮▓(j矛)閲忎緷璩翠簬灏�(du矛)鍊熸浜哄拰浜ゆ槗棰�(f膿ng)闅�(xi菐n)鐨勮⿻(p铆ng)浼�?锛佹爧鑵块邯鏍冩拨Y鏈崝(xi茅)璀般€嬫槑纰鸿姹�锛屽晢妤�(y猫)閵€琛岀殑鍏�(n猫i)閮ㄨ⿻(p铆ng)绱�(j铆)鎳�(y墨ng)鍩轰簬浜岀董瑭�(p铆ng)绱�(j铆)楂旂郴锛氫竴缍槸瀹㈡埗瑭�(p铆ng)绱�(j铆)锛屽彟涓€缍槸鍌甸爡(xi脿ng)瑭�(p铆ng)绱�(j铆)銆�

銆€銆€3.2.1 瀹㈡埗淇＄敤瑭�(p铆ng)绱�(j铆)

銆€銆€1. 瀹㈡埗淇＄敤瑭�(p铆ng)绱�(j铆)鐨勫熀鏈蹇�

銆€銆€瀹㈡埗淇＄敤瑭�(p铆ng)绱�(j铆)鏄晢妤�(y猫)閵€琛屽皪(du矛)瀹㈡埗鍎熷偟鑳藉姏鍜屽劅鍌垫剰鎰跨殑瑷�(j矛)閲忓拰瑭�(p铆ng)鍍�(ji脿)锛屽弽鏄犲鎴堕仌绱勯ⅷ(f膿ng)闅�(xi菐n)鐨勫ぇ灏�?锛熻浕绮紆(p铆ng)绱�(j铆)鐨勮⿻(p铆ng)鍍�(ji脿)涓婚珨鏄晢妤�(y猫)閵€琛�锛岃⿻(p铆ng)绱�(j铆)鐩(bi膩o)鏄鎴堕仌绱勯ⅷ(f膿ng)闅�(xi菐n)锛岃⿻(p铆ng)鍍�(ji脿)绲�(ji茅)鏋滄槸淇＄敤绛夌礆(j铆)鍜岄仌绱勬鐜�(PD)銆�

銆€銆€(1)閬曠磩鐨勫畾缇�

銆€銆€鏍规摎(j霉)銆婂反濉炵埦鏂拌硣鏈崝(xi茅)璀般€嬬殑瀹氱京锛岀暥(d膩ng)涓嬪垪涓€闋�(xi脿ng)鎴栧闋�(xi脿ng)浜嬩欢鐧�(f膩)鐢熸檪(sh铆)锛屽偟鍕�(w霉)浜哄嵆琚鐐洪仌绱勶細

銆€?銆佸仌铏(y猫)閵€琛岃獚(r猫n)瀹�锛岄櫎闈為噰鍙栬拷绱㈡帾鏂�锛屽璁婄従(xi脿n)鎶垫娂鍝�(濡傛灉瀛樺湪鐨勮┍)锛屽€熸浜哄彲鑳界劇娉曞叏椤嶅劅閭勫皪(du矛)鍟嗘キ(y猫)閵€琛岀殑鍌靛嫏(w霉)銆�

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銆€?銆佸灐闊佃檻闂唕灏囪瑕栫偤鍙兘鐒℃硶鍏ㄩ鍎熼倓鍌靛嫏(w霉)锛�

銆€銆€閵€琛屽仠姝㈠皪(du矛)璨告瑷�(j矛)鎭�;

銆€銆€鍦ㄧ櫦(f膩)鐢熶俊璨搁棞(gu膩n)绯诲悗锛岀敱浜庝俊璨歌唱(zh矛)閲忓嚭鐝�(xi脿n)澶у箙搴︿笅闄嶏紝閵€琛屾矕閵蜂簡璨告鎴栬▓(j矛)鎻愪簡灏堥爡(xi脿ng)婧�(zh菙n)鍌欓噾;

銆€銆€閵€琛屽皣璨告鍑哄敭骞剁浉鎳�(y墨ng)鎵挎摂(d膩n)浜嗚純澶х殑缍�(j墨ng)婵�(j矛)鎼嶅け;

銆€銆€閵€琛屽悓鎰忔秷妤靛偟鍕�(w霉)閲嶇祫锛岀敱姝ゅ彲鑳界櫦(f膩)鐢熻純澶ц(gu墨)妯＄殑娓涘厤鎴栨帹閬插劅閭勬湰閲�銆佸埄鎭垨璨�(f猫i)鐢�锛岄€犳垚鍌靛嫏(w霉)瑕�(gu墨)妯℃笡灏�;

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銆€銆€鍌靛嫏(w霉)浜虹敵璜�(q菒ng)鐮寸敘(ch菐n)锛屾垨宸茬稉(j墨ng)鐮寸敘(ch菐n)锛屾垨铏曚簬椤炰技鐙€鎱�(t脿i)锛岀敱姝ゅ皣涓嶅饱琛屾垨寤舵湡鍎熼倓閵€琛屽偟鍕�(w霉)銆�

銆€銆€(2)閬曠磩姒傜巼

銆€銆€閬曠磩姒傜巼鏄寚鍊熸浜哄湪鏈締涓€瀹氭檪(sh铆)鏈熷収(n猫i)鐧�(f膩)鐢熼仌绱勭殑鍙兘鎬с€傚湪銆婂反濉炵埦鏂拌硣鏈崝(xi茅)璀般€嬩腑锛岄仌绱勬鐜囪鍏烽珨瀹氱京鐐哄€熸浜哄収(n猫i)閮ㄨ⿻(p铆ng)绱�(j铆)1骞存湡閬曠磩姒傜巼鑸�0.03%涓殑杓冮珮鑰�銆傚反濉炵埦濮斿摗鏈�(hu矛)瑷�(sh猫)瀹�0.03%鐨勪笅闄愭槸鐐轰簡绲﹂ⅷ(f膿ng)闅�(xi菐n)娆�(qu谩n)閲嶆柊瀹氫笅闄愶紝涔熸槸鑰冩叜鍒板晢妤�(y猫)閵€琛屽湪妾㈤(y脿n)灏忔鐜囦簨浠舵檪(sh铆)鎵€闈㈣嚚鐨勫洶闆�銆�

銆€銆€閬曠磩姒傜巼鐨勪及瑷�(j矛)鍖呮嫭鍏╁€�(g猫)灞ら潰锛氫竴鏄柈涓€鍊熸浜虹殑閬曠磩姒傜巼;浜屾槸鏌愪竴淇＄敤绛夌礆(j铆)鎵€鏈夊€熸浜虹殑閬曠磩姒傜巼銆傘€婂反濉炵埦鏂拌硣鏈崝(xi茅)璀般€嬭姹傚(sh铆)鏂藉収(n猫i)閮ㄨ⿻(p铆ng)绱�(j铆)娉曠殑鍟嗘キ(y猫)閵€琛屼及瑷�(j矛)鍏跺悇淇＄敤绛夌礆(j铆)鍊熸浜烘墍灏�(du矛)鎳�(y墨ng)鐨勯仌绱勬鐜�锛屽父鐢ㄦ柟娉曟湁姝峰彶閬曠磩缍�(j墨ng)椹�(y脿n)銆佺当(t菕ng)瑷�(j矛)妯″瀷鍜屽閮ㄨ⿻(p铆ng)绱�(j铆)鏄犲皠涓夌ó鏂规硶銆�

銆€銆€鑸囬仌绱勬鐜囧鏄撴贩娣嗙殑涓€鍊�(g猫)姒傚康鏄仌绱勯牷鐜�锛屽嵆閫氬父鎵€瑾殑閬曠磩鐜�銆傞仌绱勯牷鐜囨槸浜嬪悗妾㈤(y脿n)鐨勭祼(ji茅)鏋�锛岃€岄仌绱勬鐜囨槸鍒嗘瀽妯″瀷浣滃嚭鐨勪簨鍓嶉爯(y霉)娓�(c猫)锛屽叐鑰呭瓨鍦ㄦ湰璩�(zh矛)鐨勫崁(q奴)鍒�銆�

銆€銆€鑸囬仌绱勬鐜囧鏄撴贩娣嗙殑鍙︿竴鍊�(g猫)姒傚康鏄笉鑹巼锛屼娇涓嶈壇鍌甸爡(xi脿ng)浣欓鍦ㄦ墍鏈夊偟闋�(xi脿ng)浣欓鐨勫崰姣�锛屼簩鑰呬笉鍏锋湁鍙瘮鎬�銆�

銆€銆€2.瀹㈡埗淇＄敤瑭�(p铆ng)绱�(j铆)鐨勭櫦(f膩)灞�

銆€銆€(1)鑰佸斧鍒ゆ柗娉�

銆€銆€鍗宠€佸斧绯荤当(t菕ng)(Expert System)锛屾槸鍟嗘キ(y猫)閵€琛屽湪闀�(zh菐ng)鏈熺稉(j墨ng)鐕�(y铆ng)淇¤哺妤�(y猫)鍕�(w霉)銆佹壙鎿�(d膩n)淇＄敤棰�(f膿ng)闅�(xi菐n)閬庣▼涓€愭鐧�(f膩)灞曞苟瀹屽杽璧蜂締鐨勫偝绲�(t菕ng)淇＄敤鍒嗘瀽鏂规硶銆�

銆€?銆佸€鍊熸浜烘湁闂�(gu膩n)鐨勫洜绱狅細

銆€銆€鑱茶(y霉)(Reputation)

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銆€銆€鏀剁泭娉㈠嫊(d貌ng)鎬�(Volatility of Earnings)

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銆€銆€缍�(j墨ng)婵�(j矛)鍛ㄦ湡(Economic Cycle)

銆€銆€瀹忚缍�(j墨ng)婵�(j矛)鏀跨瓥(Macro-Economy Policy)

銆€銆€鍒╃巼姘村钩(Leveof Interest Rates)

銆€銆€鐩墠鎵€浣跨敤鐨勮€佸斧绯荤当(t菕ng)锛屽叾涓�锛屽皪(du矛)浼佹キ(y猫)淇＄敤鍒嗘瀽鐨�5Cs绯荤当(t菕ng)浣跨敤鏈€鐐哄唬娉涖€�5Cs绯荤当(t菕ng)鎸囷細

銆€銆€鍝佸痉(Character)

銆€銆€璩囨湰(Capital)

銆€銆€閭勬鑳藉姏(Capacity)

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銆€銆€缍�(j墨ng)鐕�(y铆ng)鐠�(hu谩n)澧�(Condition)

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銆€銆€20涓栫磤(j矛)60骞翠唬锛屼俊鐢ㄥ崱鐨勬帹鍑轰績浣夸俊鐢ㄨ⿻(p铆ng)鍒嗘妧琛�(sh霉)鍙栧緱浜嗘サ澶х櫦(f膩)灞�锛屽苟杩呴€熸摯(ku貌)灞曞埌鍏朵粬妤�(y猫)鍕�(w霉)闋�(l菒ng)鍩熴€傚ェ鑰岀壒鏇�(Altman锛�1968)鎻愬嚭浜嗗熀浜庡鍏冨垽鍒ュ垎鏋愭妧琛�(sh霉)鐨刏瑭�(p铆ng)鍒嗘ā鍨�;棣竵(Martin锛�1977)銆佸ェ鐖炬．(Ohlson锛�1980)鍜屽▉閲戦爴(Wiginton锛�1980)鍓囬娆￠亱(y霉n)鐢↙ogit妯″瀷鍒嗘瀽浼佹キ(y猫)鐮寸敘(ch菐n)鍟忛銆�

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銆€銆€(5)閬曠磩鎼嶅け鐜�

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銆€銆€鈶犵敘(ch菐n)鍝佸洜绱�

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銆€銆€鈶㈣妤�(y猫)鍥犵礌

銆€?銆佽壙璨恀(q奴)鍥犵礌

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銆€銆€鈶″洖鏀剁従(xi脿n)閲戞硶銆傛牴鎿�(j霉)閬曠磩姝峰彶娓呮敹鎯呮硜锛岄爯(y霉)娓�(c猫)閬曠磩璨告鍦ㄦ竻鏀堕亷绋嬩腑鐨勭従(xi脿n)閲戞祦锛屽苟瑷�(j矛)绠楀嚭LGD锛屽嵆LGD=1-鍥炴敹鐜�=1-(鍥炴敹閲戦-鍥炴敹鎴愭湰)/閬曠磩棰�(f膿ng)闅�(xi菐n)鏆撮湶銆�

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銆€銆€鍦ㄥ垎椤為亷绋嬩腑锛屽晢妤�(y猫)閵€琛屽繀闋堣嚦灏戝仛鍒颁互涓嬪叚鍊�(g猫)鏂归潰锛�

銆€銆€鈶� 寤虹珛鍋ュ叏鍏�(n猫i)閮ㄦ帶鍒舵(j墨)鍒�锛屽畬鍠勪俊璨歌(gu墨)绔�銆佸埗搴﹀拰杈︽硶;

銆€銆€鈶� 寤虹珛鏈夋晥鐨勪俊璨哥祫绻旂鐞嗛珨鍒�;

銆€?銆�?瀵�(sh铆)琛屽璨稿垎闆�;

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銆€?銆�?鏀归€�(j矛n)绠＄悊淇℃伅绯荤当(t菕ng)锛屼繚璀夌鐞嗗堡鑳藉鍙婃檪(sh铆)鐛插緱鏈夐棞(gu膩n)璨告鐙€娉佺殑閲嶈淇℃伅;

銆€?銆�?鐫ｄ績鍊熸浜烘彁渚涚湡瀵�(sh铆)婧�(zh菙n)纰虹殑璨�(c谩i)鍕�(w霉)淇℃伅銆�

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銆€ 姝峰勾閵€琛屽緸妤�(y猫)璩囨牸鑰冭│鐪熼鍖附(word涓嬭級鐗�)

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銆€銆€鐩搁棞(gu膩n)鎬ф槸鎻忚堪鍏╁€�(g猫)鑱�(li谩n)鍚堜簨浠朵箣闁撶殑鐩镐簰闂�(gu膩n)绯�锛岃€屼笉鍍呭儏鏄寚鍏╁€�(g猫)浜嬩欢姒傜巼鐨勭啊(ji菐n)鍠箻绌�銆傞仌绱勭浉闂�(gu膩n)鎬х殑瑷�(j矛)閲忓寘鎷浉闂�(gu膩n)绯绘暩(sh霉)鍜岄€ｆ帴鍑芥暩(sh霉)鍏╃ó鏂规硶銆�

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銆€銆€灏�(du矛)浜庨潪绶氭€х浉闂�(gu膩n)锛屽彲閫氶亷绉╃浉闂�(gu膩n)绯绘暩(sh霉)(Spearman)鍜屽潕寰风埦绯绘暩(sh霉)(Kendall)閫�(j矛n)琛岃▓(j矛)閲忋€�

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銆€銆€(2)閫ｆ帴鍑芥暩(sh霉)

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銆€銆€瑙ｆ瀽妯″瀷銆傞€氶亷涓€浜涚啊(ji菐n)鍖栧亣瑷�(sh猫)锛屽皪(du矛)淇¤哺璩囩敘(ch菐n)绲勫悎绲﹀嚭涓€鍊�(g猫)鈥滄簴(zh菙n)纰衡€濈殑瑙�銆傝В鏋愭ā鍨嬭兘澶犲揩閫熷緱鍒扮祼(ji茅)鏋滐紝浣嗙己榛�(di菐n)鏄渶瑕佸缓绔嬪湪灏�(du矛)閬曠磩棰�(f膿ng)闅�(xi菐n)鍥犵礌璜稿鑻涘埢鐨勫亣瀹氬熀绀�(ch菙)涓�銆�

銆€銆€浠跨湡妯″瀷銆傜敤澶ч噺浠跨湡瑭﹂(y脿n)(鎯呮櫙妯℃摤)鎵€鐢�(ch菐n)鐢熺殑缍�(j墨ng)椹�(y脿n)鍒嗗竷渚嗚繎浼间唬鏇跨湡瀵�(sh铆)鍒嗗竷銆備豢鐪熸ā鍨嬪叿鏈夊緢澶х殑闈堟椿鎬�锛屼絾鏄皪(du矛)淇℃伅绯荤当(t菕ng)鐨勮▓(j矛)绠楄兘鍔涜姹傚緢楂�銆�

銆€銆€(1)CreditMetrics妯″瀷

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銆€銆€鑳屾櫙鐭ヨ瓨(sh铆)锛氥€婂反濉炵埦鏂拌硣鏈崝(xi茅)璀般€嬫杩�

銆€銆€銆婂反濉炵埦璩囨湰鍗�(xi茅)璀般€嬪皣鍟嗘キ(y猫)閵€琛屼俊鐢ㄩⅷ(f膿ng)闅�(xi菐n)璩囩敘(ch菐n)鍒嗙偤鍥涘ぇ椤�锛屽垎鍒ヤ互鐩告噳(y墨ng)鐨勬瑠(qu谩n)閲�(K)鍙嶆槧鍏堕ⅷ(f膿ng)闅�(xi菐n)澶�?銆�?/P>

銆€銆€缍�(j墨ng)婵�(j矛)鍚堜綔鑸囩櫦(f膩)灞曠祫绻�(OECD)涓ぎ鏀垮簻鐨勫偟娆�(qu谩n)棰�(f膿ng)闅�(xi菐n)鏆撮湶娆�(qu谩n)閲嶇偤0;

銆€銆€灏�(du矛)浜嶰ECD鐨勫晢妤�(y猫)閵€琛屽強OECD浠ュ鐨勪腑澶斂搴滅殑鍌垫瑠(qu谩n)棰�(f膿ng)闅�(xi菐n)鏆撮湶娆�(qu谩n)閲嶇偤20%;

銆€銆€鎶垫娂璨告鐨勯ⅷ(f膿ng)闅�(xi菐n)鏆撮湶娆�(qu谩n)閲嶇偤50%;

銆€銆€鍏朵粬鎵€鏈夊晢妤�(y猫)閵€琛屻€佷紒妤�(y猫)銆佸€�(g猫)浜虹殑棰�(f膿ng)闅�(xi菐n)鏆撮湶娆�(qu谩n)閲嶉兘鐐�100%.

銆€銆€绗﹀悎鐩�(ji膩n)绠¤姹傜殑鍟嗘キ(y猫)閵€琛屽繀闋堟豢瓒筹細璩囨湰/淇＄敤棰�(f膿ng)闅�(xi菐n)鍔犳瑠(qu谩n)璩囩敘(ch菐n) > 8%.鍏朵腑锛屼俊鐢ㄩⅷ(f膿ng)闅�(xi菐n)鍔犳瑠(qu谩n)璩囩敘(ch菐n)鐐哄晢妤�(y猫)閵€琛屾墍鏈夊偟闋�(xi脿ng)棰�(f膿ng)闅�(xi菐n)鏆撮湶椤嶈垏灏�(du矛)鎳�(y墨ng)娆�(qu谩n)閲嶄箻绌嶄箣鍜�銆�

銆€銆€銆婂反濉炵埦鏂拌硣鏈崝(xi茅)璀般€�锛屼笉鍍呮(g貌u)寤轰簡鏈€浣庤硣鏈厖瓒崇巼銆佺洠(ji膩n)鐫ｆ鏌ャ€佸競鍫�(ch菐ng)绱勬潫涓夊ぇ鏀煴锛屾槑纰烘渶浣庤硣鏈厖瓒崇巼瑕嗚搵浜嗕俊鐢ㄩⅷ(f膿ng)闅�(xi菐n)銆佸競鍫�(ch菐ng)棰�(f膿ng)闅�(xi菐n)銆佹搷浣滈ⅷ(f膿ng)闅�(xi菐n)涓夊ぇ涓昏棰�(f膿ng)闅�(xi菐n)渚嗘簮锛岃€屼笖灏�(du矛)淇＄敤棰�(f膿ng)闅�(xi菐n)鐨勮▓(j矛)閲忔彁鍑轰簡妯�(bi膩o)婧�(zh菙n)娉�銆佸収(n猫i)閮ㄨ⿻(p铆ng)绱�(j铆)娉曞垵绱�(j铆)娉�銆佸収(n猫i)閮ㄨ⿻(p铆ng)绱�(j铆)娉曢珮绱�(j铆)娉曚笁绋柟娉曘€�

銆€銆€淇＄敤棰�(f膿ng)闅�(xi菐n)瑭�(p铆ng)绱�(j铆)鍒嗙偤澶栭儴瑭�(p铆ng)绱�(j铆)鍜屽収(n猫i)閮ㄨ⿻(p铆ng)绱�(j铆)銆傚閮ㄨ⿻(p铆ng)绱�(j铆)鏄皥妤�(y猫)瑭�(p铆ng)绱�(j铆)姗�(j墨)妲�(g貌u)灏�(du矛)鐗瑰畾鍌靛嫏(w霉)浜虹殑鍎熷偟鑳藉姏鍜屾剰鎰跨殑鏁撮珨瑭�(p铆ng)浼帮紝涓昏渚濋潬鑰佸斧瀹氭€у垎鏋�锛岃⿻(p铆ng)绱�(j铆)灏�(du矛)璞′富瑕佹槸鏀垮簻鎴栧ぇ浼佹キ(y猫);鍏�(n猫i)閮ㄨ⿻(p铆ng)绱�(j铆)鏄晢妤�(y猫)閵€琛屾牴鎿�(j霉)鍏�(n猫i)閮ㄦ暩(sh霉)鎿�(j霉)鍜屾(bi膩o)婧�(zh菙n)(鍋�(c猫)閲嶄簬瀹氶噺鍒嗘瀽)锛屽皪(du矛)瀹㈡埗鐨勪俊鐢ㄩⅷ(f膿ng)闅�(xi菐n)鍙婂偟闋�(xi脿ng)鐨勪氦鏄撻ⅷ(f膿ng)闅�(xi菐n)閫�(j矛n)琛岃⿻(p铆ng)鍍�(ji脿)锛屽苟鎿�(j霉)浠ヤ及瑷�(j矛)閬曠磩姒傜巼鍙婇仌绱勬悕澶辩巼锛屼綔鐐轰俊鐢ㄨ⿻(p铆ng)绱�(j铆)鍜屽垎椤炵鐞嗙殑妯�(bi膩o)婧�(zh菙n)銆�

銆€銆€宸村鐖惧鍝℃渻(hu矛)閲濆皪(du矛)鍚勫晢妤�(y猫)閵€琛岄ⅷ(f膿ng)闅�(xi菐n)绠＄悊姘村钩鐨勪笉鍚�锛屾彁鍑轰簡淇＄敤棰�(f膿ng)闅�(xi菐n)瑷�(j矛)閲忕殑鍏╁ぇ椤炴柟娉曪細妯�(bi膩o)婧�(zh菙n)娉�锛屽熀浜庡晢妤�(y猫)閵€琛岃硣鐢�(ch菐n)鐨勫閮ㄨ⿻(p铆ng)绱�(j铆)绲�(ji茅)鏋�锛屼互妯�(bi膩o)婧�(zh菙n)鍖栨柟寮忚▓(j矛)閲忎俊鐢ㄩⅷ(f膿ng)闅�(xi菐n);鍏�(n猫i)閮ㄨ⿻(p铆ng)绱�(j铆)娉�锛屽熀浜庡晢妤�(y猫)閵€琛岃嚜韬仴鍏ㄥ拰瀹屽倷鐨勫収(n猫i)閮ㄨ⿻(p铆ng)绱�(j铆)楂旂郴瑷�(j矛)閲忎俊鐢ㄩⅷ(f膿ng)闅�(xi菐n)锛屼絾蹇呴爤缍�(j墨ng)閬庣洠(ji膩n)绠＄暥(d膩ng)灞€鐨勬妧琛�(sh霉)妾㈤(y脿n)鍜屾寮忔壒婧�(zh菙n)銆�

銆€銆€1.妯�(bi膩o)婧�(zh菙n)娉�

銆€銆€鈶犲晢妤�(y猫)閵€琛岀殑淇¤哺璩囩敘(ch菐n)鍒嗙偤灏�(du矛)涓绘瑠(qu谩n)鍦嬪鐨勫偟娆�(qu谩n)銆佸皪(du矛)涓€鑸晢妤�(y猫)閵€琛岀殑鍌垫瑠(qu谩n)銆佸皪(du矛)鍏徃鐨勫偟娆�(qu谩n)銆佸寘鎷湪鐩�(ji膩n)绠￠浂鍞硣鐢�(ch菐n)涓殑鍌垫瑠(qu谩n)銆佷互灞呮皯鎴跨敘(ch菐n)鎶垫娂鐨勫偟娆�(qu谩n)銆佽〃澶栧偟娆�(qu谩n)绛�13椤�;

銆€?銆佽动?du矛)涓绘瑠(qu谩n)銆佸晢妤�(y猫)閵€琛�銆佸叕鍙哥殑鍌垫瑠(qu谩n)绛夐潪闆跺敭椤炰俊璨歌硣鐢�(ch菐n)锛屾牴鎿�(j霉)鍌靛嫏(w霉)浜虹殑澶栭儴瑭�(p铆ng)绱�(j铆)绲�(ji茅)鏋滃垎鍒ョ⒑瀹氭瑠(qu谩n)閲嶏紝闆跺敭椤炶硣鐢�(ch菐n)鏍规摎(j霉)鏄惁鏈夊眳姘戞埧鐢�(ch菐n)鎶垫娂鍒嗗垾绲︿簣75%銆�35%鐨勬瑠(qu谩n)閲嶏紝琛ㄥ淇¤哺璩囩敘(ch菐n)閲囩敤淇＄敤棰�(f膿ng)闅�(xi菐n)杞�(zhu菐n)鎻涚郴鏁�(sh霉)杞�(zhu菐n)鎻涚偤淇＄敤棰�(f膿ng)闅�(xi菐n)鏆撮湶;

銆€?銆佸⒓璇昐鍟嗘キ(y猫)閵€琛岄€氶亷鎶垫娂銆佹摂(d膩n)淇�銆佷俊鐢ㄨ鐢熷伐鍏风瓑淇¤哺璩囩敘(ch菐n)鐨勯ⅷ(f膿ng)闅�(xi菐n)鏁忔劅鎬�锛屼絾缂洪粸(di菐n)涔熷緢鏄庨’锛氶亷鍒嗕緷璩翠簬澶栭儴瑭�(p铆ng)绱�(j铆)锛屽皪(du矛)浜庣己涔忓閮ㄨ⿻(p铆ng)绱�(j铆)鐨勫叕鍙搁鍌垫瑠(qu谩n)绲�(t菕ng)涓€绲︿簣100%鐨勯ⅷ(f膿ng)闅�(xi菐n)娆�(qu谩n)閲�锛岀己涔忔晱鎰熸€�;姝ゅ锛屼篃娌掓湁鑰冩叜鍒颁笉鍚岃硣鐢�(ch菐n)闁撶殑鐩搁棞(gu膩n)鎬�銆�

銆€銆€2.鍏�(n猫i)閮ㄨ⿻(p铆ng)绱�(j铆)娉�

銆€銆€鍏�(n猫i)閮ㄨ⿻(p铆ng)绱�(j铆)娉曡鍘诲晢妤�(y猫)閵€琛屽缓绔嬪仴鍏ㄧ殑鍏�(n猫i)閮ㄨ⿻(p铆ng)绱�(j铆)楂旂郴锛岃嚜琛岄爯(y霉)娓�(c猫)閬曠磩姒傜巼(PD)銆侀仌绱勬悕澶辩巼(LGD)銆侀仌绱勯ⅷ(f膿ng)闅�(xi菐n)鏆撮湶(EAD)銆佹湡闄�(M)绛変俊鐢ㄩⅷ(f膿ng)闅�(xi菐n)鍥犵礌锛屽苟鏍规摎(j霉)濡備笅娆�(qu谩n)閲嶅叕寮忚▓(j矛)绠楁瘡绛嗗偟闋�(xi脿ng)鐨勪俊鐢ㄩⅷ(f膿ng)闅�(xi菐n)璩囨湰瑕佹眰(K)锛�

銆€銆€(1)鍏徃銆佷富娆�(qu谩n)鍙婂晢妤�(y猫)閵€琛屾毚闇�

銆€?銆佷繙娌乣绱勯ⅷ(f膿ng)闅�(xi菐n)鏆撮湶

銆€?銆佽岸`绱勯ⅷ(f膿ng)闅�(xi菐n)鏆撮湶

銆€銆€(2)闆跺敭鏆撮湶

銆€銆€鏍规摎(j霉)灏�(du矛)鍟嗘キ(y猫)閵€琛屽収(n猫i)閮ㄨ⿻(p铆ng)绱�(j铆)楂旂郴渚濊炒绋嬪害鐨勪笉鍚岋紝鍏�(n猫i)閮ㄨ⿻(p铆ng)绱�(j铆)娉曞張鍒嗙偤鍒濈礆(j铆)娉曞拰楂樼礆(j铆)娉曞叐绋細

銆€?銆佷开璺�?j铆)娉曡姹傚晢妤�(y猫)閵€琛岄亱(y霉n)鐢ㄨ嚜韬鎴惰⿻(p铆ng)绱�(j铆)浼拌▓(j矛)姣忎竴绛夌礆(j铆)瀹㈡埗閬曠磩姒傜巼锛屽叾浠栭ⅷ(f膿ng)闅�(xi菐n)瑕佺礌閲囩敤鐩�(ji膩n)绠＄暥(d膩ng)灞€鐨勪及姗�(j墨)鍊�;

銆€?銆佽療鍛�?j铆)娉曡姹傚晢妤�(y猫)閵€琛岄亱(y霉n)鐢ㄨ嚜韬簩缍⿻(p铆ng)绱�(j铆)楂旂郴鑷浼拌▓(j矛)閬曠磩姒傜巼銆侀仌绱勬悕澶辩巼銆侀仌绱勯ⅷ(f膿ng)闅�(xi菐n)鏆撮湶銆佹湡闄愩€�

銆€銆€鍒濈礆(j铆)娉曞拰楂樼礆(j铆)娉曠殑鍗€(q奴)鍒嗗彧閬╃敤浜庨潪闆跺敭鏆撮湶锛屽皪(du矛)浜庨浂鍞毚闇�锛屽彧瑕佸晢妤�(y猫)閵€琛屾焙瀹氬(sh铆)鏂藉収(n猫i)閮ㄨ⿻(p铆ng)绱�(j铆)娉�锛屽氨蹇呴爤鑷浼拌▓(j矛)PD鍜孡GD.

銆€ 姝峰勾閵€琛屽緸妤�(y猫)璩囨牸鑰冭│鐪熼鍖附(word涓嬭級鐗�)

    閵€琛屽緸妤�(y猫)鑰冭│銆婂€�(g猫)浜虹悊璨�(c谩i)銆嬭€冮粸(di菐n)闆ｉ粸(di菐n)瑙ｆ瀽鍖附