实证分析表明：通过确立目标项目，调整资产与负债结构，可以较好地实现商业银行的利率风险免疫。
Meanwhile, it is showed by demonstration that interest risk immunization can be achieved by setting target item and adjusting asset and liability structure.
在此基础上，探讨了将随机利率与信用风险相结合的信用风险定价模型——结构模型和简约模型。
After that, the paper introduces two kinds of credit risk pricing models which adopt stochastic interest rate and credit risk: structural model and reduced-form model.
利率期限结构的估计在金融研究中有着重要的地位，它是资产定价、金融产品设计、保值和风险管理的基准。
The estimation of interest rate of term structure has an important estate in financial research, for it is the benchmark for asset pricing, financial products design, hedging and risk management.
在发达的金融市场上，回购利率的期限结构服从纯预期假设，无论从经济意义上还是从统计意义上来说风险溢酬都不显著。
In the developed financial markets, the term structure of repo rate follows pure expectation hypothesis, and risk premium is not significant both economically and statistically.
利率期限结构分析是资产定价、金融产品设计、保值和风险管理、套利等的基础。
Analysis of the term structure of interest rate is the basis of asset pricing, financial product design, hedging and risk management, arbitraging and so on.
并且在诸如股票、利率、股指期货等标的资产的交易市场中，人们往往希望知道标的资产未来价格的波动率，从而知道该资产的未来风险结构。
The volatility of the future prices of the underlying assets which can be stocks, interest, futures and so on, is a wonder. When one knows the volatility, risk structure of those assets is in hand.
而流动性风险的影响因素主要有资产负债结构、中央银行政策、金融市场发育程度、信用风险和利率变动等方面。
Influencing factors of liquidity include asset and debt structure, the center bank policy, degree of money market development, credit risk and fluctuation of interest rate.
利率期限结构是指在某个时点上具有相同的风险和流动性，不同期限的利率所组成的一条利率曲线。
ABSTRACT The interest rate term structure is the curve formed by interest rates of the same risk and liquidity, but the different maturities at any point.
就我国商业银行自身而言，在信贷期限结构、利率杠杆作用、利率风险控制、信贷业务种类、银行人员素质等方面存在各种各样的问题。
They have various problems in such respects as term structure of credit, interest rate leverage, interest rate risk control, business variety and bank personnel quality.
并通过无风险利率与到期期限之间的函数关系来确定无风险利率的期限结构。
The term structure of riskless interest rates was established by the relationship between riskless interest rates and the terms of mature.
短期无风险利率是金融市场上最基本也是最重要的价格决定因素，它驱使着整个期限结构的变动。
The short-term riskless rate is one of the most fundamental and important prices determined in financial markets. It is driving the changes in the entire term structure.
利率的数量结构、期限结构和风险结构应由市场自发选择；
Market chooses the composition of quantity, limitation and risk of interest rate.
考虑到无风险利率的随机波动对可转债价值的影响，文章采用了利率期限结构，利用三次多项式来推导。
Considering the influence of the risk-free interest rate's random fluctuations on convertible bonds, the thesis USES the term structure of interest rates, which is derived by the cubic polynomial.
单因子利率模型中，只设定一个状态变量，即无违约风险的瞬时利率。 瞬时利率的运动变化决定了整个利率期限结构的运动变化。
In case of single-factor interest rate models, there is only one state variable, the default-free instantaneous interest rate.
单因子利率模型中，只设定一个状态变量，即无违约风险的瞬时利率。 瞬时利率的运动变化决定了整个利率期限结构的运动变化。
In case of single-factor interest rate models, there is only one state variable, the default-free instantaneous interest rate.
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