Fitch Bohua - Examining the Capital Attributes and Credit Risks of Subordinated Debt Through Recent Interest Non-Payments Events (Non-IDT)
December
 
5th
, 
2018

Paul Taylor

President & CEO

Paul Taylor is president and chief executive officer of Fitch Group, a leading provider of essential financial information and services to the global financial markets. Mr. Taylor was appointed to this position in April 2012 and is based in London.


Mr. Taylor previously served as President of Fitch Ratings, the group’s largest business and a leading provider of credit ratings, commentary and research. Prior to this appointment in 2010, he spent two years as global head of structured finance ratings, presiding over numerous ratings reforms following the 2007 collapse of the U.S. housing market. Mr. Taylor has held a variety of analytical leadership positions at Fitch Ratings, including global head of sovereign, public finance, corporate, and financial institution ratings. He also headed the agency's operations in Europe, Middle East, and Africa.

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Company Name

Fitch Bohua - Examining the Capital Attributes and Credit Risks of Subordinated Debt Through Recent Interest Non-Payments Events (Non-IDT)

惠誉博华短评 — 从“不付息”看次级债资本属性与信用风险差异

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When

2026年5月19日 | 北京时间16:00

Where

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惠誉博华近期对外分别发布了钢铁、工程机械及重卡行业2020年年报及2021年一季报点评,报告对2020年以来上述行业发展趋势、供需变化、市场热点和政策动态进行了重点研究与总结,并就未来发展趋势做出前瞻性分析,同时就上市样本企业财务表现与信用状况进行了横向分析与纵向比较。

现诚挚地邀请您参与2021年5月28日上午10:30点举行的“年报点评:钢铁、工程机械及重卡”网络研讨会,惠誉博华分析师将与您分享惠誉博华团队的最新观点。

 


相关报告
2020年年报及2021年一季报点评:资本品之工程机械与重卡行业
2020年年报及2021年一季报点评:钢铁行业

 


参与者的相关问题将有机会在网络直播期间得到解答,您可以将问题提前发送至 fitchbohuabrm@fitchbohua.com。

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About the webinar

近期长春发展农村商业银行股份有限公司宣布暂缓支付二级资本债利息,与此前同样未能及时支付二级资本债利息的延边农村商业银行股份有限公司一致,该行当前处于省内农信系统相关改革工作之中。

 

商业银行发行的二级资本债在条款设计上具有损失吸收功能,除发生触发事件时可以减记之外,还规定了清偿顺序在存款人和一般债权人之后,股权资本、其他一级资本工具和混合资本债券之前;分红或派息必须来自于可分配项目;债券的派息需遵守监管现时有效规定等多个方面。上述一系列条款要求为长春发展农商银行及延边农商银行在风险化解中暂缓支付利息提供依据,相关实践也反映出该类债务工具在风险化解过程中的资本属性。此外资本新规实施后发行的二级资本债在条款上发生一定变化,但惠誉博华认为该变化不会使同类新老债券面临风险产生差异。

 

从境外其他地区案例观察,特定债务工具的风险评估亦需要结合其偿付顺序地位进行,拥有充足的深度次级债务作为缓冲可降低损失程度。

 

现诚挚地邀请您参与2026年5月19日下午 4:00点举行的“惠誉博华短评 — 从“不付息”看次级债资本属性与信用风险差异”,惠誉博华分析师将与您分享最新的行业观点。


参与者的相关问题将有机会在网络直播期间得到解答,您可以将问题提前发送至 fitchbohuabrm@fitchbohua.com。

 


扫描下方二维码报名参与本次研讨会          

主讲人

李沄桥

惠誉博华金融机构部高级分析师


李沄桥先生目前主要从事国内金融机构的评级和研究工作。拥有硕士学历及海外留学经历。

李沄桥先生曾任职于国内知名券商机构,熟悉资本市场业务。曾参与多个一级资本市场企业融资业务,对于商业银行、证券公司、金融租赁公司等金融机构拥有深入了解。

张可欣

惠誉博华金融机构部分析师

张可欣女士目前主要从事国内金融机构的评级和研究工作。拥有硕士学历。

张可欣女士曾任职于知名保险公司。参与的信用评级项目涉及行业丰富,包括大型及区域性中小商业银行、金融控股公司、城投公司、融资租赁公司、证券公司、资产管理公司、其他多元金融以及金融主体发行的资产证券化项目等。除项目工作以外还长期从事商业银行及非银行金融机构的分析及研究工作,在相关行业领域具有深入的理解。

相关报告

从“不付息”看次级债资本属性与信用风险差异

主讲人:

Paul M. Patterson

CEO

Earthworks Garden

Cassandra Bernstein

Vice President

Broker Garden

Katherine Moore

Marketing Specialist

City Paradigm

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如果您无法通过上述链接参加会议或者您希望通过手机端参加会议,可通过微信扫描下方二维码注册报名。(手机端会议将在 5月28日下午3:30 点举行)

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Clear your calendar - It's going down! You're invited to take part in the festivities. Come one, come all, bring a guest, and hang loose. This is going to be epic!

Speakers

Paul Taylor

President & CEO

Paul Taylor is president and chief executive officer of Fitch Group, a leading provider of essential financial information and services to the global financial markets. Mr. Taylor was appointed to this position in April 2012 and is based in London.


Mr. Taylor previously served as President of Fitch Ratings, the group’s largest business and a leading provider of credit ratings, commentary and research. Prior to this appointment in 2010, he spent two years as global head of structured finance ratings, presiding over numerous ratings reforms following the 2007 collapse of the U.S. housing market. Mr. Taylor has held a variety of analytical leadership positions at Fitch Ratings, including global head of sovereign, public finance, corporate, and financial institution ratings. He also headed the agency's operations in Europe, Middle East, and Africa.

Robert Harpel

Chief Technology Officer

Robert Harpel is Chief Technology Officer at Fitch Group. Mr. Harpel oversees information technology for Fitch Group's corporate offices and all of its business units, including Fitch Ratings, Fitch Solutions, and Fitch Learning.


Prior to joining Fitch Group in 2011, Mr. Harpel was Senior Vice President, Sales Systems for Viacom's MTV Networks. At Viacom he oversaw applications that supported more than $6 billion in sales. Mr. Harpel previously held senior technology and consulting roles with International Masters Publishers, HotJobs (a Yahoo! company), and Booz & Company, where he specialized in technology strategy for media & entertainment and financial service clients. He began his career at Price Waterhouse in Management Consulting Services.

CEO Series Video

Check out our CEO speak on the state of Fitch Ratings.

惠誉博华信用评级有限公司于2018年7月成立,现已完成中国人民银行营业管理部信用评级机构备案及中国银行间市场交易商协会的注册,在中国开展银行间债券市场金融机构债券、结构化产品信用评级业务。


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惠誉博华信用评级有限公司于2018年7月成立,现已完成中国人民银行营业管理部信用评级机构备案及中国银行间市场交易商协会的注册,在中国开展银行间债券市场金融机构债券、结构化产品信用评级业务。




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