关键词: 2008版SNA, FISIM, 参考利率法, 金融风险管理, 风险调整

Abstract: SNA2008 suggests that reference rate in FISIM accounting should be adjusted to adding up credit-default risk premium, to make the FISIM accounting more accurately. Since the approaches that have been suggested cannot meet the demands of practicality, stability and international comparability at the same time, ISWGNA Task Force recommends that research continues in this area. In this paper, we construct a model to analyze the fundamental theory of risk-adjusted reference rate approach, and present the probable reference rate risk-adjusting methods. Through the analysis on three representative methods, we induce the differences of these methods. Moreover, we probe into these differences and thus suggest a new kind of reference rate risk-adjusting method by stating the mechanism of risk management and the management status globally. Test on Chinese data shows that this new method is practicable, stable and international comparable.

Key words: SNA2008, FISIM, Reference Rate Approach, Financial Risk Management, Risk Adjustment