{"id":10701,"date":"2026-09-19T23:56:12","date_gmt":"2026-09-19T14:56:12","guid":{"rendered":"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/g2-pm-31\/"},"modified":"2026-09-20T00:19:15","modified_gmt":"2026-09-19T15:19:15","slug":"g2-pm-31","status":"publish","type":"post","link":"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/g2-pm-31\/","title":{"rendered":"\u30af\u30ec\u30b8\u30c3\u30c8\u30ea\u30b9\u30af\u3068\u306f\uff1f\u610f\u5473\u3068\u8a66\u9a13\u3067\u554f\u308f\u308c\u308b\u30dd\u30a4\u30f3\u30c8\uff5c\u8a3c\u5238\u30a2\u30ca\u30ea\u30b9\u30c82\u6b21\u30fb\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u30fb\u30de\u30cd\u30b8\u30e1\u30f3\u30c8"},"content":{"rendered":"<style>.cma-tbl{margin:1.2em 0 1.6em;overflow-x:auto;-webkit-overflow-scrolling:touch;border-radius:8px;box-shadow:0 1px 4px rgba(34,0,94,.12);}.cma-tbl table{width:100%;border-collapse:collapse!important;margin:0!important;font-size:15px;line-height:1.6;background:#fff;border:none!important;}.cma-tbl th,.cma-tbl td{padding:10px 12px!important;border:1px solid #e3def0!important;vertical-align:middle;word-break:break-word;}.cma-tbl thead th{background:#22005e!important;color:#fff!important;font-weight:700;text-align:center;white-space:nowrap;}.cma-tbl tbody tr:nth-child(even) td{background:#f7f5fc;}.cma-tbl tbody th{background:#f3eee0!important;color:#22005e!important;font-weight:700;text-align:left;width:28%;border-left:4px solid #b08833!important;}.cma-tbl.kv tbody tr:nth-child(even) td{background:#fff;}.cma-tbl td.num{text-align:right;white-space:nowrap;font-weight:700;color:#22005e;}.cma-tbl td.q{text-align:center;white-space:nowrap;font-weight:700;color:#b08833;}.cma-tbl tr.total td{background:#f3eee0!important;font-weight:700;}@media (max-width:640px){.cma-tbl table{font-size:13px;}.cma-tbl th,.cma-tbl td{padding:8px 7px!important;}.cma-tbl thead th{white-space:normal;}.cma-tbl tbody th{width:32%;}.cma-tbl.kv tbody th,.cma-tbl.kv tbody td{display:block;width:100%;box-sizing:border-box;}.cma-tbl.kv tbody th{border-left:4px solid #b08833!important;border-bottom:none!important;padding:6px 10px!important;}.cma-tbl.kv tbody td{border-top:none!important;padding:8px 10px 12px!important;}.cma-tbl.sched td:first-child{white-space:nowrap;font-weight:700;color:#22005e;background:#f3eee0;}}.cma-tbl.two tbody td:first-child,.cma-tbl.three tbody td:first-child{font-weight:700;color:#22005e;background:#faf8f2;}.cma-tbl.two tbody td:first-child{width:38%;}.cma-tbl.three tbody td:first-child{width:26%;}.pr-note{font-size:12px!important;color:#777!important;margin-bottom:1em!important;line-height:1.5!important;}.cma-answer{border:2px solid #22005e;border-radius:10px;padding:16px 18px 6px;margin:1.5em 0;background:#f7f5fc;}.cma-answer .cma-answer-title{display:inline-block;background:#22005e;color:#fff;font-weight:700;padding:3px 12px;border-radius:4px;margin:0 0 8px;font-size:14px;}.cma-answer ul{margin:0 0 8px;padding-left:1.2em;}.cma-answer li{margin-bottom:6px;}.kotora-cta{border:2px solid #ff9900;border-radius:10px;background:#fffaf2;padding:18px 18px 14px;margin:2em 0;text-align:center;}.kotora-cta p{margin:0 0 10px!important;text-align:left;}.kotora-cta p:last-child{margin-bottom:0!important;}.cma-link-box p,.cma-answer p{margin:0 0 8px!important;}.kotora-cta .kotora-cta-lead{font-weight:700;color:#22005e;text-align:center;font-size:1.05em;}.kotora-cta .kotora-cta-btn{text-align:center;margin:14px 0 8px;}.kotora-cta .kotora-cta-btn a{display:inline-block;max-width:100%;box-sizing:border-box;background:#ff9900;color:#fff!important;text-decoration:none!important;font-weight:700;padding:14px 28px;border-radius:40px;box-shadow:0 3px 0 #d97f00;font-size:1.05em;line-height:1.4;}.kotora-cta .kotora-cta-btn a:hover{opacity:.9;}.kotora-cta .kotora-cta-note{font-size:12px;color:#666;text-align:center;margin:0;}.cma-link-box{border:2px solid #b08833;border-radius:8px;background:#faf8f2;padding:14px 16px 4px;margin:1.2em 0;}.cma-link-box p{margin:0 0 10px;}.cma-link-box .cma-link-box-title{font-weight:700;color:#22005e;}@media (max-width:640px){.cma-tbl.two tbody td:first-child{width:40%;}.cma-tbl.three tbody td:first-child{width:28%;}.kotora-cta{padding:14px 12px 10px;}.kotora-cta .kotora-cta-btn a{display:block;padding:14px 12px;font-size:1em;}}@media (max-width:640px){.cma-tbl.three{box-shadow:none;border-radius:0;overflow:visible;}.cma-tbl.three table{background:transparent;}.cma-tbl.three thead{display:none;}.cma-tbl.three tbody,.cma-tbl.three tr{display:block;}.cma-tbl.three tr{margin:0 0 12px;border-radius:8px;overflow:hidden;box-shadow:0 1px 4px rgba(34,0,94,.15);background:#fff;}.cma-tbl.three td{display:block;width:100%!important;box-sizing:border-box;border:none!important;background:#fff!important;padding:8px 12px!important;}.cma-tbl.three td:first-child{background:#22005e!important;color:#fff!important;font-size:14px;padding:9px 12px!important;}.cma-tbl.three td:not(:first-child)::before{content:attr(data-label);display:block;font-size:11px;font-weight:700;color:#b08833;margin-bottom:2px;}.cma-tbl.three td:nth-child(2){border-bottom:1px dashed #e3def0!important;}}.amz-cta{border:2px solid #22005e;border-radius:10px;background:#f7f5fc;padding:16px 16px 12px;margin:1.8em 0;text-align:center;}.amz-cta p{margin:0 0 10px!important;}.amz-cta p:last-child{margin-bottom:0!important;}.amz-cta .amz-cta-lead{font-weight:700;color:#22005e;}.amz-cta .amz-cta-btn a{display:inline-block;max-width:100%;box-sizing:border-box;background:#b08833;color:#fff!important;text-decoration:none!important;font-weight:700;padding:14px 32px;border-radius:40px;box-shadow:0 3px 0 #8a6a25;font-size:1.05em;line-height:1.4;}.amz-cta .amz-cta-btn a:hover{opacity:.9;}.amz-cta .amz-cta-note{font-size:12px!important;color:#666;}.key{display:inline-block;min-width:1.6em;text-align:center;border:1px solid #9a93b3;border-bottom-width:3px;border-radius:5px;background:#fff;color:#22005e;font-weight:700;font-size:.85em;line-height:1.5;padding:0 6px;margin:1px 0;white-space:nowrap;font-family:inherit;}.yt-wrap{position:relative;width:100%;aspect-ratio:16\/9;margin:1em 0 1.6em;border-radius:8px;overflow:hidden;box-shadow:0 2px 8px rgba(0,0,0,.15);}.yt-wrap iframe{position:absolute;inset:0;width:100%!important;height:100%!important;border:0;}@media (max-width:640px){.amz-cta .amz-cta-btn a{display:block;padding:14px 12px;font-size:1em;}}.cma-tbl.nums thead th,.cma-tbl.nums td{text-align:center;}.cma-tbl.nums td:first-child{font-weight:700;color:#22005e;background:#faf8f2;white-space:nowrap;}.cma-tbl.nums td.num{text-align:right;}@media (max-width:640px){.cma-tbl.nums th,.cma-tbl.nums td{padding:8px 5px!important;font-size:12.5px;}.cma-tbl.nums thead th{white-space:nowrap;}}.cfa-cta{border:2px solid #22005e;border-radius:10px;background:linear-gradient(180deg,#f7f5fc 0%,#fff 100%);padding:18px 18px 14px;margin:2em 0;text-align:center;}.cfa-cta p{margin:0 0 10px!important;text-align:left;}.cfa-cta p:last-child{margin-bottom:0!important;}.cfa-cta .cfa-cta-lead{font-weight:700;color:#22005e;text-align:center;font-size:1.05em;}.cfa-cta .cfa-cta-btn{text-align:center;margin-top:14px!important;}.cfa-cta .cfa-cta-btn a{display:inline-block;max-width:100%;box-sizing:border-box;background:#22005e;color:#fff!important;text-decoration:none!important;font-weight:700;padding:14px 32px;border-radius:40px;box-shadow:0 3px 0 #b08833;font-size:1.05em;line-height:1.4;}.cfa-cta .cfa-cta-btn a:hover{opacity:.9;}@media (max-width:640px){.cfa-cta{padding:14px 12px 10px;}.cfa-cta .cfa-cta-btn a{display:block;padding:14px 12px;font-size:1em;}}.cma-sum{background:#f7f5fc;border-left:5px solid #b08833;border-radius:6px;padding:12px 14px;margin:0 0 1em;}.cma-sum p{margin:0!important;}.cma-formula{background:#fff;border:2px solid #22005e;border-radius:8px;padding:14px 16px;margin:1em 0 1.4em;text-align:center;font-weight:700;color:#22005e;font-size:1.1em;line-height:1.8;overflow-x:auto;}.cma-formula small{display:block;font-weight:400;font-size:.8em;color:#555;}.cma-exam{border:2px solid #b08833;border-radius:10px;background:#fffaf0;padding:14px 16px 6px;margin:1.2em 0;}.cma-exam .cma-exam-title{font-weight:700;color:#8a6a25;margin:0 0 8px!important;}.cma-exam ul{margin:0 0 8px;padding-left:1.2em;}.cma-exam li{margin-bottom:6px;}.cma-formula{word-break:keep-all;overflow-wrap:normal;}.cma-formula small{word-break:normal;}@media (max-width:640px){.cma-formula{font-size:.95em;padding:12px 10px;}}<\/style>\n<div class=\"cma-answer\">\n<p class=\"cma-answer-title\">\u3072\u3068\u3053\u3068\u3067\u8a00\u3046\u3068<\/p>\n<ul>\n<li><strong>\u30af\u30ec\u30b8\u30c3\u30c8\u30ea\u30b9\u30af<\/strong>\uff08\u4fe1\u7528\u30ea\u30b9\u30af\uff09\u306f\u3001\u50b5\u5238\u306e\u767a\u884c\u4f53\u3084\u53d6\u5f15\u76f8\u624b\u304c\u7d04\u675f\u3069\u304a\u308a\u306b\u652f\u6255\u3048\u306a\u304f\u306a\u308b\uff08\u30c7\u30d5\u30a9\u30eb\u30c8\u3059\u308b\uff09\u3053\u3068\u3067\u640d\u5931\u3092\u88ab\u308b\u30ea\u30b9\u30af\u3067\u3059\u3002<\/li>\n<li>\u8a55\u4fa1\u306e\u57fa\u672c\u306f<strong>\u30c7\u30d5\u30a9\u30eb\u30c8\u78ba\u7387\uff08PD\uff09<\/strong>\u3001<strong>\u30c7\u30d5\u30a9\u30eb\u30c8\u6642\u640d\u5931\u7387\uff08LGD\uff1d1\u2212\u56de\u53ce\u7387\uff09<\/strong>\u3001<strong>\u30a8\u30af\u30b9\u30dd\u30fc\u30b8\u30e3\u30fc\uff08EAD\uff09<\/strong>\u306e3\u3064\u3067\u3001<strong>\u671f\u5f85\u640d\u5931\uff1dPD\u00d7LGD\u00d7EAD<\/strong>\u3068\u8868\u3057\u307e\u3059\u3002<\/li>\n<li>\u7ba1\u7406\u306b\u306f\u3001\u4e0e\u4fe1\u9650\u5ea6\u306e\u8a2d\u5b9a\u3001\u62c5\u4fdd\u30fb\u30cd\u30c3\u30c6\u30a3\u30f3\u30b0\u3001\u5206\u6563\u3001CDS\u306a\u3069\u306b\u3088\u308b\u30d8\u30c3\u30b8\u304c\u4f7f\u308f\u308c\u307e\u3059\u3002<\/li>\n<\/ul>\n<\/div>\n<p>\u3053\u306e\u8a18\u4e8b\u3067\u306f\u3001\u8a3c\u5238\u30a2\u30ca\u30ea\u30b9\u30c82\u6b21\u300c\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u30fb\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\u300d\u306e\u5b66\u7fd2\u30dd\u30a4\u30f3\u30c8\u306e\u3072\u3068\u3064\u300c\u30af\u30ec\u30b8\u30c3\u30c8\u30ea\u30b9\u30af\u306e\u8a55\u4fa1\u3068\u7ba1\u7406\u300d\u306b\u3064\u3044\u3066\u3001\u610f\u5473\u3068\u8a66\u9a13\u3067\u554f\u308f\u308c\u3084\u3059\u3044\u30dd\u30a4\u30f3\u30c8\u3092\u89e3\u8aac\u3057\u307e\u3059\u3002<\/p>\n<div class=\"cma-tbl kv\">\n<table>\n<tbody>\n<tr>\n<th>\u5206\u91ce<\/th>\n<td>2\u6b21 \u8a3c\u5238\u5206\u6790\u3068\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u30fb\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\uff0f\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u30fb\u30de\u30cd\u30b8\u30e1\u30f3\u30c8<\/td>\n<\/tr>\n<tr>\n<th>\u5927\u5206\u985e<\/th>\n<td>(3) \u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306e\u69cb\u7bc9\u3068\u30ea\u30b9\u30af\u7ba1\u7406<\/td>\n<\/tr>\n<tr>\n<th>\u5354\u4f1a\u306e\u5b66\u7fd2\u30dd\u30a4\u30f3\u30c8<\/th>\n<td>\u30af\u30ec\u30b8\u30c3\u30c8\u30ea\u30b9\u30af\u306e\u57fa\u672c\u7684\u306a\u6982\u5ff5\u3068\u8a55\u4fa1\u30fb\u7ba1\u7406\u624b\u6cd5\u306b\u3064\u3044\u3066\u7406\u89e3\u3059\u308b\u3002<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<h2>\u30af\u30ec\u30b8\u30c3\u30c8\u30ea\u30b9\u30af\u3068\u306f<\/h2>\n<p>\u30af\u30ec\u30b8\u30c3\u30c8\u30ea\u30b9\u30af\u306f\u3001\u793e\u50b5\u30fb\u8cb8\u4ed8\u91d1\u30fb\u30c7\u30ea\u30d0\u30c6\u30a3\u30d6\u53d6\u5f15\u306a\u3069\u3067\u3001\u76f8\u624b\u65b9\u304c\u5143\u5229\u91d1\u3084\u6c7a\u6e08\u91d1\u3092\u652f\u6255\u3048\u306a\u304f\u306a\u308b\u3053\u3068\u306b\u3088\u308b\u640d\u5931\u306e\u30ea\u30b9\u30af\u3067\u3059\u3002\u30c7\u30d5\u30a9\u30eb\u30c8\u305d\u306e\u3082\u306e\u3060\u3051\u3067\u306a\u304f\u3001\u683c\u4ed8\u3051\u306e\u5f15\u4e0b\u3052\u3084\u4fe1\u7528\u30b9\u30d7\u30ec\u30c3\u30c9\u306e\u62e1\u5927\u306b\u3088\u3063\u3066\u4fdd\u6709\u50b5\u5238\u306e\u6642\u4fa1\u304c\u4e0b\u304c\u308b\u30ea\u30b9\u30af\uff08\u30b9\u30d7\u30ec\u30c3\u30c9\u30fb\u30ea\u30b9\u30af\u3001\u683c\u4ed8\u3051\u9077\u79fb\u30ea\u30b9\u30af\uff09\u3082\u5e83\u3044\u610f\u5473\u3067\u542b\u307e\u308c\u307e\u3059\u3002\u30c7\u30ea\u30d0\u30c6\u30a3\u30d6\u53d6\u5f15\u306e\u76f8\u624b\u65b9\u306e\u4fe1\u7528\u30ea\u30b9\u30af\u306f\u3001<strong>\u30ab\u30a6\u30f3\u30bf\u30fc\u30d1\u30fc\u30c6\u30a3\u30fb\u30ea\u30b9\u30af<\/strong>\u3068\u547c\u3070\u308c\u307e\u3059\u3002<\/p>\n<h3>\u8a55\u4fa1\u306e3\u3064\u306e\u8981\u7d20<\/h3>\n<ul>\n<li><strong>\u30c7\u30d5\u30a9\u30eb\u30c8\u78ba\u7387\uff08PD\uff09<\/strong>\uff1a\u4e00\u5b9a\u671f\u9593\uff08\u901a\u5e381\u5e74\uff09\u306b\u30c7\u30d5\u30a9\u30eb\u30c8\u3059\u308b\u78ba\u7387\u3002\u683c\u4ed8\u3051\u3054\u3068\u306e\u904e\u53bb\u306e\u30c7\u30d5\u30a9\u30eb\u30c8\u5b9f\u7e3e\u3001\u8ca1\u52d9\u30c7\u30fc\u30bf\u3092\u4f7f\u3063\u305f\u7d71\u8a08\u30e2\u30c7\u30eb\u3001\u682a\u4fa1\u3068\u8ca0\u50b5\u304b\u3089\u63a8\u5b9a\u3059\u308b\u69cb\u9020\u578b\u30e2\u30c7\u30eb\uff08\u30de\u30fc\u30c8\u30f3\u30fb\u30e2\u30c7\u30eb\uff09\u306a\u3069\u3067\u63a8\u5b9a\u3057\u307e\u3059\u3002<\/li>\n<li><strong>\u30c7\u30d5\u30a9\u30eb\u30c8\u6642\u640d\u5931\u7387\uff08LGD\uff09<\/strong>\uff1a\u30c7\u30d5\u30a9\u30eb\u30c8\u3057\u305f\u5834\u5408\u306b\u56de\u53ce\u3067\u304d\u306a\u3044\u5272\u5408\u3067\u30011\u2212\u56de\u53ce\u7387\u3067\u3059\u3002\u62c5\u4fdd\u3084\u50b5\u6a29\u306e\u512a\u5148\u9806\u4f4d\uff08\u30b7\u30cb\u30a2\u304b\u52a3\u5f8c\u304b\uff09\u3067\u5927\u304d\u304f\u5909\u308f\u308a\u307e\u3059\u3002<\/li>\n<li><strong>\u30a8\u30af\u30b9\u30dd\u30fc\u30b8\u30e3\u30fc\uff08EAD\uff09<\/strong>\uff1a\u30c7\u30d5\u30a9\u30eb\u30c8\u6642\u70b9\u3067\u306e\u30ea\u30b9\u30af\u306b\u3055\u3089\u3055\u308c\u305f\u91d1\u984d\u3002\u8cb8\u4ed8\u306a\u3089\u6b8b\u9ad8\u3067\u3059\u304c\u3001\u30c7\u30ea\u30d0\u30c6\u30a3\u30d6\u3067\u306f\u5e02\u5834\u306e\u52d5\u304d\u3067\u5c06\u6765\u306e\u91d1\u984d\u304c\u5909\u308f\u308b\u305f\u3081\u3001\u5c06\u6765\u306e\u30a8\u30af\u30b9\u30dd\u30fc\u30b8\u30e3\u30fc\u3082\u898b\u7a4d\u3082\u308a\u307e\u3059\u3002<\/li>\n<\/ul>\n<h3>\u671f\u5f85\u640d\u5931\u3068\u975e\u671f\u5f85\u640d\u5931<\/h3>\n<p>\u5e73\u5747\u7684\u306b\u898b\u8fbc\u307e\u308c\u308b\u640d\u5931\u304c<strong>\u671f\u5f85\u640d\u5931\uff08EL\uff09<\/strong>\u3067\u3001\u672c\u6765\u306f\u91d1\u5229\u3084\u4fe1\u7528\u30b9\u30d7\u30ec\u30c3\u30c9\u306a\u3069\u306e\u53ce\u76ca\u3067\u8cc4\u3046\u3079\u304d\u30b3\u30b9\u30c8\u3067\u3059\u3002\u4e00\u65b9\u3001\u671f\u5f85\u3092\u4e0a\u56de\u3063\u3066\u767a\u751f\u3057\u3046\u308b\u640d\u5931\u304c<strong>\u975e\u671f\u5f85\u640d\u5931\uff08UL\uff09<\/strong>\u3067\u3001\u3053\u308c\u306b\u5099\u3048\u308b\u306e\u304c\u81ea\u5df1\u8cc7\u672c\u3067\u3059\u3002\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u5168\u4f53\u3067\u306f\u3001\u500b\u3005\u306e\u50b5\u52d9\u8005\u306e\u30c7\u30d5\u30a9\u30eb\u30c8\u306e\u76f8\u95a2\uff08\u666f\u6c17\u60aa\u5316\u6642\u306b\u307e\u3068\u3081\u3066\u30c7\u30d5\u30a9\u30eb\u30c8\u3057\u3084\u3059\u3044\u304b\uff09\u304c\u975e\u671f\u5f85\u640d\u5931\u306e\u5927\u304d\u3055\u3092\u5de6\u53f3\u3057\u3001\u4fe1\u7528VaR\u306a\u3069\u3067\u8a08\u6e2c\u3055\u308c\u307e\u3059\u3002\u4fe1\u7528\u640d\u5931\u306e\u5206\u5e03\u306f\u3001\u307b\u3068\u3093\u3069\u306e\u5834\u5408\u306f\u5c0f\u3055\u306a\u640d\u5931\u3067\u3059\u307f\u3001\u307e\u308c\u306b\u975e\u5e38\u306b\u5927\u304d\u306a\u640d\u5931\u304c\u51fa\u308b\u3001\u53f3\u306b\u9577\u304f\u88fe\u3092\u5f15\u3044\u305f\u5f62\u306b\u306a\u308b\u306e\u304c\u7279\u5fb4\u3067\u3059\u3002<\/p>\n<h3>\u7ba1\u7406\u306e\u624b\u6cd5<\/h3>\n<p>\u4e3b\u306a\u7ba1\u7406\u624b\u6cd5\u306f\u3001\u2460\u50b5\u52d9\u8005\u30fb\u696d\u7a2e\u30fb\u56fd\u3054\u3068\u306e<strong>\u4e0e\u4fe1\u9650\u5ea6\uff08\u30ea\u30df\u30c3\u30c8\uff09<\/strong>\u3092\u8a2d\u3051\u96c6\u4e2d\u3092\u907f\u3051\u308b\u3053\u3068\u3001\u2461<strong>\u62c5\u4fdd<\/strong>\u3084\u4fdd\u8a3c\u306e\u53d6\u5f97\u3001\u30c7\u30ea\u30d0\u30c6\u30a3\u30d6\u306e<strong>\u30cd\u30c3\u30c6\u30a3\u30f3\u30b0<\/strong>\u3084\u62c5\u4fdd\uff08\u8a3c\u62e0\u91d1\uff09\u306e\u3084\u308a\u53d6\u308a\u3067\u30a8\u30af\u30b9\u30dd\u30fc\u30b8\u30e3\u30fc\u3092\u6e1b\u3089\u3059\u3053\u3068\u3001\u2462<strong>\u5206\u6563<\/strong>\u3001\u2463<strong>CDS<\/strong>\uff08\u30af\u30ec\u30b8\u30c3\u30c8\u30fb\u30c7\u30d5\u30a9\u30eb\u30c8\u30fb\u30b9\u30ef\u30c3\u30d7\uff09\u306a\u3069\u3067\u30ea\u30b9\u30af\u3092\u79fb\u8ee2\u3059\u308b\u3053\u3068\u3001\u2464\u683c\u4ed8\u3051\u3084\u4fe1\u7528\u30b9\u30d7\u30ec\u30c3\u30c9\u306e\u7d99\u7d9a\u7684\u306a\u30e2\u30cb\u30bf\u30ea\u30f3\u30b0\u3067\u3059\u3002<\/p>\n<h2>\u62bc\u3055\u3048\u3066\u304a\u304d\u305f\u3044\u516c\u5f0f<\/h2>\n<div class=\"cma-formula\">\u671f\u5f85\u640d\u5931\uff08EL\uff09 \uff1d PD \u00d7 LGD \u00d7 EAD<small>LGD \uff1d 1 \u2212 \u56de\u53ce\u7387<\/small><\/div>\n<div class=\"cma-formula\">\u4fe1\u7528\u30b9\u30d7\u30ec\u30c3\u30c9 \u2252 PD \u00d7 LGD<small>\u30ea\u30b9\u30af\u4e2d\u7acb\u3067\u4ed6\u306e\u30d7\u30ec\u30df\u30a2\u30e0\u3092\u7121\u8996\u3057\u305f\u8fd1\u4f3c\uff08\u5e74\u7387\uff09<\/small><\/div>\n<div class=\"cma-tbl kv\">\n<table>\n<tbody>\n<tr>\n<th>PD<\/th>\n<td>\u30c7\u30d5\u30a9\u30eb\u30c8\u78ba\u7387<\/td>\n<\/tr>\n<tr>\n<th>LGD<\/th>\n<td>\u30c7\u30d5\u30a9\u30eb\u30c8\u6642\u640d\u5931\u7387\uff081\u2212\u56de\u53ce\u7387\uff09<\/td>\n<\/tr>\n<tr>\n<th>EAD<\/th>\n<td>\u30c7\u30d5\u30a9\u30eb\u30c8\u6642\u306e\u30a8\u30af\u30b9\u30dd\u30fc\u30b8\u30e3\u30fc<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<h2>\u5177\u4f53\u4f8b\u3067\u78ba\u8a8d<\/h2>\n<p>\u3042\u308b\u793e\u50b5\u306b10\u5104\u5186\u6295\u8cc7\u3057\u3066\u304a\u308a\u30011\u5e74\u9593\u306e\u30c7\u30d5\u30a9\u30eb\u30c8\u78ba\u7387\u304c2\uff05\u3001\u30c7\u30d5\u30a9\u30eb\u30c8\u6642\u306e\u56de\u53ce\u7387\u304c40\uff05\u3068\u898b\u8fbc\u307e\u308c\u308b\u3068\u3057\u307e\u3059\u3002<\/p>\n<ul>\n<li>LGD \uff1d 1 \u2212 40\uff05 \uff1d 60\uff05<\/li>\n<li>\u671f\u5f85\u640d\u5931 \uff1d 2\uff05 \u00d7 60\uff05 \u00d7 10\u5104\u5186 \uff1d <strong>1,200\u4e07\u5186<\/strong>\uff08\u6295\u8cc7\u984d\u306e1.2\uff05\uff09<\/li>\n<li>\u4fe1\u7528\u30b9\u30d7\u30ec\u30c3\u30c9\u306e\u76ee\u5b89 \u2252 2\uff05 \u00d7 60\uff05 \uff1d <strong>1.2\uff05<\/strong><\/li>\n<\/ul>\n<p>\u5b9f\u969b\u306e\u793e\u50b5\u30b9\u30d7\u30ec\u30c3\u30c9\u306f\u3001\u3053\u306e\u671f\u5f85\u640d\u5931\u306b\u52a0\u3048\u3066\u3001\u640d\u5931\u306e\u3070\u3089\u3064\u304d\u306b\u5bfe\u3059\u308b\u30ea\u30b9\u30af\u30fb\u30d7\u30ec\u30df\u30a2\u30e0\u3084\u6d41\u52d5\u6027\u30d7\u30ec\u30df\u30a2\u30e0\u3092\u542b\u3080\u305f\u3081\u3001\u901a\u5e38\u306f\u3053\u308c\u3088\u308a\u5927\u304d\u304f\u306a\u308a\u307e\u3059\u3002\u307e\u305f\u3001\u30c7\u30d5\u30a9\u30eb\u30c8\u3059\u308c\u3070\u640d\u5931\u306f6\u5104\u5186\uff0810\u5104\u5186\u00d760\uff05\uff09\u306b\u306e\u307c\u308b\u305f\u3081\u3001\u671f\u5f85\u640d\u5931\u3060\u3051\u3067\u306a\u304f\u3001\u96c6\u4e2d\u3092\u907f\u3051\u3066\u975e\u671f\u5f85\u640d\u5931\u3092\u6291\u3048\u308b\u7ba1\u7406\u304c\u91cd\u8981\u3067\u3059\u3002<\/p>\n<div class=\"cma-exam\">\n<p class=\"cma-exam-title\">\u8a66\u9a13\u3067\u554f\u308f\u308c\u3084\u3059\u3044\u30dd\u30a4\u30f3\u30c8<\/p>\n<ul>\n<li>\u671f\u5f85\u640d\u5931\uff1dPD\u00d7LGD\u00d7EAD\u306e\u8a08\u7b97\u3068\u3001LGD\uff1d1\u2212\u56de\u53ce\u7387\u306e\u5909\u63db\u306f\u78ba\u5b9f\u306b\u3067\u304d\u308b\u3088\u3046\u306b\u3057\u307e\u3057\u3087\u3046\u3002<\/li>\n<li>\u671f\u5f85\u640d\u5931\u306f\u30b9\u30d7\u30ec\u30c3\u30c9\u306a\u3069\u306e\u53ce\u76ca\u3067\u8cc4\u3046\u30b3\u30b9\u30c8\u3001\u975e\u671f\u5f85\u640d\u5931\u306f\u81ea\u5df1\u8cc7\u672c\u3067\u5099\u3048\u308b\u30ea\u30b9\u30af\u3001\u3068\u3044\u3046\u533a\u5225\u304c\u554f\u308f\u308c\u3084\u3059\u3044\u3067\u3059\u3002<\/li>\n<li>\u4fe1\u7528\u640d\u5931\u306e\u5206\u5e03\u306f\u53f3\u306b\u88fe\u306e\u9577\u3044\u975e\u5bfe\u79f0\u306a\u5f62\u3067\u3001\u30c7\u30d5\u30a9\u30eb\u30c8\u76f8\u95a2\u304c\u9ad8\u3044\u307b\u3069\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306e\u975e\u671f\u5f85\u640d\u5931\u304c\u5927\u304d\u304f\u306a\u308b\u70b9\u3092\u62bc\u3055\u3048\u307e\u3057\u3087\u3046\u3002<\/li>\n<li>\u62c5\u4fdd\u30fb\u30cd\u30c3\u30c6\u30a3\u30f3\u30b0\u30fb\u4e0e\u4fe1\u9650\u5ea6\u30fb\u5206\u6563\u30fbCDS\u3068\u3044\u3063\u305f\u7ba1\u7406\u624b\u6cd5\u3068\u3001\u305d\u308c\u305e\u308c\u304cPD\u30fbLGD\u30fbEAD\u306e\u3069\u308c\u3092\u4e0b\u3052\u308b\u306e\u304b\u3092\u6574\u7406\u3057\u3066\u304a\u304f\u3068\u6709\u52b9\u3067\u3059\u3002<\/li>\n<li>\u8a18\u8ff0\u5f0f\u3067\u306f\u3001\u4fe1\u7528\u30b9\u30d7\u30ec\u30c3\u30c9\u3068\u30c7\u30d5\u30a9\u30eb\u30c8\u78ba\u7387\u30fb\u56de\u53ce\u7387\u306e\u95a2\u4fc2\u3092\u8a08\u7b97\u3055\u305b\u305f\u308a\u3001\u30b9\u30d7\u30ec\u30c3\u30c9\u304c\u671f\u5f85\u640d\u5931\u3088\u308a\u5927\u304d\u3044\u7406\u7531\u3092\u8aac\u660e\u3055\u305b\u305f\u308a\u3059\u308b\u5f62\u304c\u8003\u3048\u3089\u308c\u307e\u3059\u3002<\/li>\n<\/ul>\n<\/div>\n<h2>\u8981\u70b9\u307e\u3068\u3081<\/h2>\n<ul>\n<li>\u30af\u30ec\u30b8\u30c3\u30c8\u30ea\u30b9\u30af\u306f\u767a\u884c\u4f53\u3084\u53d6\u5f15\u76f8\u624b\u306e\u30c7\u30d5\u30a9\u30eb\u30c8\u3001\u683c\u4e0b\u3052\u30fb\u30b9\u30d7\u30ec\u30c3\u30c9\u62e1\u5927\u306b\u3088\u308b\u640d\u5931\u306e\u30ea\u30b9\u30af\u3002<\/li>\n<li>\u8a55\u4fa1\u306e3\u8981\u7d20\u306fPD\u3001LGD\uff081\u2212\u56de\u53ce\u7387\uff09\u3001EAD\u3002\u671f\u5f85\u640d\u5931\uff1dPD\u00d7LGD\u00d7EAD\u3002<\/li>\n<li>\u671f\u5f85\u640d\u5931\u306f\u53ce\u76ca\u3067\u3001\u975e\u671f\u5f85\u640d\u5931\u306f\u81ea\u5df1\u8cc7\u672c\u3067\u5099\u3048\u308b\u3002<\/li>\n<li>\u4e0e\u4fe1\u9650\u5ea6\u3001\u62c5\u4fdd\u30fb\u30cd\u30c3\u30c6\u30a3\u30f3\u30b0\u3001\u5206\u6563\u3001CDS\u306a\u3069\u3067\u7ba1\u7406\u3059\u308b\u3002<\/li>\n<\/ul>\n<div class=\"cma-link-box\">\n<p class=\"cma-link-box-title\">\u25b6 \u3042\u308f\u305b\u3066\u8aad\u307f\u305f\u3044<\/p>\n<p><a href=\"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/cma2-portfolio\/\">\u3010\u8a3c\u5238\u30a2\u30ca\u30ea\u30b9\u30c82\u6b21\u3011\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u30fb\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\u3067\u5b66\u3076\u5185\u5bb9\u306e\u4e00\u89a7\u306b\u623b\u308b<\/a><\/p>\n<p><a href=\"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/g2-pm-26\/\">VaR\uff08\u30d0\u30ea\u30e5\u30fc\u30fb\u30a2\u30c3\u30c8\u30fb\u30ea\u30b9\u30af\uff09<\/a><\/p>\n<p><a href=\"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/g2-pm-28\/\">\u30c6\u30fc\u30ebVaR\u30fbCFaR\u30fbEaR<\/a><\/p>\n<p><a href=\"https:\/\/triumphmind.com\/cma\/2026\/09\/20\/g2-pm-35\/\">\u91d1\u878d\u6a5f\u95a2\u30fb\u751f\u547d\u4fdd\u967a\u4f1a\u793e\u306e\u904b\u7528<\/a><\/p>\n<\/div>\n<p>\u8a3c\u5238\u30a2\u30ca\u30ea\u30b9\u30c8\u30a2\u30ab\u30c7\u30df\u30fc\u306eYouTube\uff08<a href=\"https:\/\/www.youtube.com\/@cma-fa-academy\" target=\"_blank\" rel=\"noopener\">@cma-fa-academy<\/a>\uff09\u3067\u306f\u3001\u5b66\u7fd2\u30dd\u30a4\u30f3\u30c8\u306b\u6cbf\u3063\u3066\u8ad6\u70b9\u30921\u3064\u305a\u3064\u89e3\u8aac\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n<p><a href=\"https:\/\/utage-system.com\/page\/98Nqc5o0yBvT\" target=\"_blank\" rel=\"noopener\">\u25b6 \u8a3c\u5238\u30a2\u30ca\u30ea\u30b9\u30c8\u30b3\u30df\u30e5\u30cb\u30c6\u30a3\u30fc\u306b\u53c2\u52a0\u3059\u308b<\/a><\/p>\n<p style=\"font-size:0.85em;\">\u203b\u5b66\u7fd2\u30dd\u30a4\u30f3\u30c8\u306f\u65e5\u672c\u8a3c\u5238\u30a2\u30ca\u30ea\u30b9\u30c8\u5354\u4f1a\u300c\u30102026\u5e74\u5ea6\u3011CMA\u8cc7\u683c\u306e\u53d6\u5f97\u306b\u6c42\u3081\u3089\u308c\u308b\u4e3b\u8981\u5b66\u7fd2\u4e8b\u9805\u3068\u5b66\u7fd2\u30dd\u30a4\u30f3\u30c8\u300d\u3088\u308a\u5f15\u7528\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u53d6\u5f15\u76f8\u624b\u3084\u767a\u884c\u4f53\u306e\u50b5\u52d9\u4e0d\u5c65\u884c\u306b\u4f34\u3046\u30af\u30ec\u30b8\u30c3\u30c8\u30ea\u30b9\u30af\u3092\u3001\u30c7\u30d5\u30a9\u30eb\u30c8\u78ba\u7387\u30fb\u30c7\u30d5\u30a9\u30eb\u30c8\u6642\u640d\u5931\u7387\u30fb\u30a8\u30af\u30b9\u30dd\u30fc\u30b8\u30e3\u30fc\u3067\u8a55\u4fa1\u3059\u308b\u8003\u3048\u65b9\u3068\u3001\u671f\u5f85\u640d\u5931\u306e\u8a08\u7b97\u3001\u62c5\u4fdd\u30fb\u5206\u6563\u30fbCDS\u306a\u3069\u306e\u7ba1\u7406\u624b\u6cd5\u3092\u308f\u304b\u308a\u3084\u3059\u304f\u89e3\u8aac\u3057\u307e\u3059\u3002<\/p>\n","protected":false},"author":1,"featured_media":10700,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jin_ogp_image_url":"","_jin_last_featured_id":0,"footnotes":""},"categories":[22],"tags":[],"class_list":["post-10701","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-glossary"],"_links":{"self":[{"href":"https:\/\/triumphmind.com\/cma\/wp-json\/wp\/v2\/posts\/10701","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/triumphmind.com\/cma\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/triumphmind.com\/cma\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/triumphmind.com\/cma\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/triumphmind.com\/cma\/wp-json\/wp\/v2\/comments?post=10701"}],"version-history":[{"count":1,"href":"https:\/\/triumphmind.com\/cma\/wp-json\/wp\/v2\/posts\/10701\/revisions"}],"predecessor-version":[{"id":11248,"href":"https:\/\/triumphmind.com\/cma\/wp-json\/wp\/v2\/posts\/10701\/revisions\/11248"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/triumphmind.com\/cma\/wp-json\/wp\/v2\/media\/10700"}],"wp:attachment":[{"href":"https:\/\/triumphmind.com\/cma\/wp-json\/wp\/v2\/media?parent=10701"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/triumphmind.com\/cma\/wp-json\/wp\/v2\/categories?post=10701"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/triumphmind.com\/cma\/wp-json\/wp\/v2\/tags?post=10701"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}