结构性存款

此外，投资黄金挂钩结构性存款与直接投资黄金的回报有显著差异。

In addition , there is a significant difference between investment in gold directly and investment in gold-linked structured deposit .

在有利的政策环境、旺盛的投资需求及充足的供给动力下，我国黄金挂钩结构性存款自2005年发行以来发展迅速。

In a favorable policy environment , gold-linked structured deposit has been developing rapidly in China with strong investment demand and adequate power of supply since 2005 .

中国最大的铁路运营商中铁集团（ChinaRailwayGroup）上周股价大跌25.8%，此前该公司宣布，截至9月份，在结构性存款产品投资上亏损2.84亿美元。

Shares in China Railway Group fell 25.8 per cent last week after the country 's biggest railway operator announced a loss of $ 284m from structured deposits as of September .

与利率关联的外汇结构性存款是可赎回债券。

Interest rate linked foreign exchange structured deposits are equivalent to callable bonds .

外汇结构性存款的期权定价方法及投资风险分析

Option Pricing Method and Investment Risk Analysis for Structured Deposits of Foreign Currency

外汇结构性存款的定价

Pricing Foreign Exchange Structured Deposits

外汇结构性存款具有期权特征，使存款收益变得不确定。

Structured deposits of foreign currency are of option features , which make profits of the deposits uncertain .

外汇结构性存款包括两个部分：固定收益部分和衍生产品部分，衍生产品部分主要包括各种期权。

Foreign exchange structured deposits include two parts : fixed income and derivative products , and the derivative products are meanly options .

使用每日波动率代替传统中为常数的历史波动率，利用蒙特卡罗模拟结构性存款中期权部分的价格。

Instead of the constant historical volatility , we use daily volatility for Monte Carlo simulation to price the options part of the product .

本文主要根据金融工程的组合分解原理，对外汇结构性存款的基本价值构成和定价方法框架进行分析与探讨。

According to the principle of decomposition and integration for financial engineering , the paper analyses and explores the basic valuation structure and pricing methods for FX structured deposits .

对产品进行敏感性分析，发现挂钩标的资产价格的波动对结构性存款中内嵌的期权价值有较大影响。

After sensitivity analysis of the product , we found that the price volatility of underlying asset have a greater impact on the option value embedded in the structural deposits .

本文分析了本金无风险和本金有风险两种类型外汇结构性存款的期权特征，并结合定价方法，探讨了相应的投资风险。

This paper analyzes the option features of structured deposits of foreign currency with both non-risk principal and risk principal respectively . And the paper discusses corresponding investment risks combining with their pricing methods .

投资者该如何正确识别商业银行结构性存款的投资风险，从种类繁多的产品中选择？商业银行如何对结构性产品进行风险管理？了解结构性理财产品的设计和风险是本研究的主要动机。

How the Investors correctly identify the investment risks of structured deposits , from a wide variety of products to choose ? And how the Commercial Banks manage the risk of the structured products ?

美元黄金挂钩结构性存款投资回报低于美国股市，而其他币种的产品投资回报明显高于相应股市的投资收益。

The return of the gold-linked structured deposit invested in USD is higher than the stock index , while the return of the products invested in other currencies was significantly higher than the stock .

随着经济的发展和个人收入的提高，人们的理财需求迅速上升，国内各金融机构纷纷推出外汇理财产品，外汇结构性存款应运而生。

With the development of economy and the increase of personal income , people financial needs rise rapidly . Domestic financial institutions have introduced many foreign exchange financing products , and foreign exchange structured deposits have emerged .

并对现阶段的商业银行个人理财产品进行分类，主要有准货币市场基金类型的产品、结构性存款、固定收益组合理财产品和其他类型的理财产品四种类型。

Then it defines the personal financial products by commercial banks and classifies the current products into quasi-money-market funds types of products , structural deposits , fixed-income portfolio financing products and other types of financial products four types .

认为本金无风险的外汇结构性存款有其投资价值，但由于其价值与标的资产挂钩，因此也存在着一定的投资风险。

Draws the conclusion that the Structured Deposits of Foreign Currency with no capital risks has its investment value , but as a result of its value and sign property suspension hook , therefore also has certain investment risk .

自2002年9月，中国光大银行首推外币结构性存款以来，外汇结构性存款成为国内各商业银行及外资银行的香饽饽，市场发展迅速。

Since the China Everbright Bank issued the first foreign exchange structured deposits in our country in September 2002 , foreign exchange structured deposits have become the " Xiangbobo " of domestic commercial banks and foreign banks . The market has developed rapidly .

结构性外汇存款的投资属性与银行盈利模式的转变

The Investing Features of Structural FX Deposits And the Change of the Bankis Earning Modes

结构性产品（StructuredProducts）是近三十年来国际金融领域最重要的金融创新工具之一，中国自2001年首次以外汇结构性存款的形式开始了针对境内个人的结构性理财产品的试点发行工作。

Structured Products are one of the most important financial innovations for the past three decades in the field of international finance . Since 2001 , China has embarked on structured financial products pilot issuance for domestic individuals in the form of currency structured deposits .