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随着布雷顿森林体系的崩溃和各国对利率管制的逐步放松,国际金融市场上利率、汇率的波动明显加剧。金融全球化的不断深化使金融机构的投资组合越来越多地暴露在汇率风险之中,而金融衍生产品市场的急剧发展,使银行的市场风险被具有杠杆性质的衍生产品交易成倍扩大,同时混业经营也使银行面临更多、更复杂的市场风险。导致2008年美国金融危机爆发的重要原因之一,就是金融创新的衍
With the collapse of the Bretton Woods system and the gradual easing of interest rate controls by various countries, the volatility of interest rates and exchange rates in international financial markets has increased markedly. With the deepening of financial globalization, the investment portfolios of financial institutions are exposed more and more to the exchange rate risk. The rapid development of the financial derivative products market has enlarged the market risk of the banks by the leveraged derivatives transactions. At the same time, mixed operation also exposes banks to more and more complicated market risks. One of the important reasons that led to the outbreak of the U.S. financial crisis in 2008 is that of financial innovation