信用

In the era of credit economy,government credit is the foundation of social credit system.

市场经济是信用经济，政府信用是整个社会信用体系的基石。

Government credit is an important part of social credit system.

摘要政府信用是社会信用体系的重要组成部分，建设和提升良好的政府信用既是保障社会稳定和促进经济发展的必要条件，也是入世对我国政府的基本要求。

But, the large sample investigation by inquisition system for Chinese enterprisers discovered that the character of enterprisers influences badly on the credit of enterprises. Credit sponsion institutions in Zhejiang province widely put the character of enterprisers forward as a chief element in estimating credit level for medium-sized enterprises.

但尤努斯"穷人银行"、中国企业家调查系统的大样本调查和浙江商业信用担保实例却发现，"能力决定信用"的假设并不成立，企业负责人品格对企业信用有着至关重要的影响。

This paper traces developments in the credit risk mea surement literature over the last 20 yearsEssentially,the author reviews the main current credit risk measurement models,egexpert system,credit scoring system,term structure model,mortality model,RAROC model,and CreditMetrics,CreditRisk+,CreditPortfolio View,KmV etcAlso,the author discusses the Suitableness of new models applying in credit risk measuring in credit cooperatives in rural China

本文回顾和介评了 2 0年来特别是近年来信用风险评价方法及模型进展，包括传统的主观分析法、信用评分系统、期限结构模型、死亡率模型、 RAROC模型以及新近推出的所谓内部模型如 Credit- VAR、Ceadit Risk+等。最后，简要分析了国际上流行的信用评价方法对我国农村信用社的适用性

In modern society, government credit is the core of social credit sys tem and the base of social credit development, so it has great importance and significance.

在现代社会，政府信用是社会信用体系的核心，是社会信用发展的良性基础，具有非常重要的意义和作用。

Credit risk premium is the differences between the yields of corporate bonds with credit risk and Treasury bill relatively with no credit risk.

信用风险溢价是指具有信用风险的企业债券的收益与相对无信用风险的国债的收益之间的差异。

As a result, researches in credit analysis and management have become the most important tusks in current time.

本文在结构上采用在纵向上逐步渐进在横向上逐步展开的方式，主要分为四部分：首先从信用入手，简要介绍信用的概念、发展状况以及现代信用的发展特征。

By regressive analyses of yield spread to interest rate and credit rank, building the stepwise linear regressive monitoring model of compound factors. With influence of product deadline, market risk and credit condition, yield spread shows non-linear changes. The main reason is the influence of credit condition and product deadline and market interest rate.

通过收益利差对产品期限、市场利率和信用等级等进行逐步线性回归，建立了OTC金融衍生品复合因子的监控模型；受产品期限、市场利率和信用状况的影响，收益利差呈非线性变化，主要原因是信用状况与产品期限、市场利率三者存在相互影响。

When an enterprise handles the business of commercial acceptance bills, the drawer and the acceptor shall strictly obey the settlement principle of "scrupulously abiding by commitments, and making payments according to the contract", and timely and fully encash the due commercial acceptance bills, so as to create good enterprise credit culture, upgrade their own brands and credit standing, and thus promote the social credit.

企业在办理商业承兑汇票业务时，出票人、承兑人要严格遵守&恪守信用、履约付款&的结算原则，及时足额兑付到期商业承兑汇票，以营造良好的企业信用文化，提升自身的品牌和信誉，并以此促进社会信用的好转。

Base on them, credit riskdegree is brought forward and treated as a new criterion (model's output).Comparing with other typical criteria, traditional ones all fall short of the fouressential attributes in some degree. Especially, when the continuity could not bemet, criteria will fluctuate seriously, which amplify actual credit risk for a whileand minify it for a moment. So the evaluating results are distorted severely.

以此为基础，提出以信用风险度作为新的衡量标准，并分别与典型衡量标准进行了比较分析，发现传统信用风险衡量标准，在这四个基本属性方面都存在不同程度的弊端与不足，尤其在不满足连续性时，衡量标准具有严重的&波动性&，体现为对实际信用风险忽而不同程度地放大，忽而不同程度地缩小，严重扭曲了风险评估结果。

However, as the name（read－only memory）implies, CD disks cannot be written onorchanged in any way.

然而，正如其名字所指出的那样，CD盘不能写，也不能用任何方式改变其内容。

Galvanizes steel pallet is mainly export which suits standard packing of European Union, the North America. galvanizes steel pallet is suitable to heavy rack. Pallet surface can design plate type, corrugated and the gap form, satisfies the different requirements.

镀锌钢托盘多用于出口，替代木托盘，免薰蒸，符合欧盟、北美各国对出口货物包装材料的法令要求；喷涂钢托盘适用于重载上货架之用，托盘表面根据需要制作成平板状、波纹状及间隔形式，满足不同的使用要求。