At present, it has become more and more common for enterprises to use the futures market for hedging transactions. With the acceleration of the listing of futures products and the deepening of people's understanding of the futures market, more enterprises will become hedgers in the futures market. The large-scale production and operation activities of enterprises are inseparable from bank loans, and banks can improve the quality of loans through hedging transactions in the futures market. However, at present, it is rare for domestic banks and loan enterprises to participate in the futures market for hedging. You can look at some foreign practices. Internationally, in many countries with developed futures markets, banks not only provide funds to enterprises, but also often ask customers to hedge their futures markets. Banks have close ties with these hedgers and can help them in many ways and provide them with relevant advice. Banks do this because hedging transactions in the futures market provide them with opportunities to improve the quality of loans, thus ensuring their own interests. When producers hedge, they "lock in" the price, so they have greater confidence in recovering the loan. For the source of funds for repayment, banks can obtain more stable channels through hedging. We know that hedgers hold opposite positions in spot market and futures market, and the trend of futures price and spot price is always the same. Then, the hedger can use the profit of one market to make up for the loss of another market, thus ensuring the quality of bank loans as a whole. By hedging, producers and operators transfer the price risk of the spot market to the futures market, and banks also greatly reduce the loan risk. The author believes that domestic banks should encourage customers to actively participate in hedging transactions in the futures market after understanding the purpose of customers' loans, and banks themselves can also participate in the futures market through the overall management of hedgers' futures accounts and bank loan accounts. Hedging in the futures market will also bring many benefits to bank customers. For example, hedging can lock in the cost and price in advance in the market, which is convenient for customers to draw up business plans, thus eliminating the impact of price changes on business; Hedging can avoid the risk of falling prices, help protect profits and stabilize income; Hedging can also provide flexibility for bank customers in business strategy to obtain the best price; At the same time, hedging can also help customers avoid excessive capital occupation, accelerate capital turnover and reduce storage costs. Effective hedging can make bank customers operate stably and gain good reputation. Domestic banks pay attention to the participation of loan customers in futures market transactions, in fact, it is largely because they do not participate in the management of customers' futures accounts. It is the key to ensure the loan quality that the bank manages the loan account of the hedger and the hedging account in the brokerage company. Only through overall management can banks master the use of funds of loan customers, understand the situation of customers in the spot market and futures market, allocate cash business funds and futures deposits, make up the difference between the two markets, and do a good job in cash flow management. Overall management is very important for improving loan quality and ensuring repayment, and the management of loan account is also very important for ensuring the success of hedging. Let's look at the risks faced by banks and hedgers. Hedgers may not be able to withstand the temptation of the futures market and change the original intention of hedging, using bank loans as speculative funds, thus endangering the entire financial structure. At the same time, basis difference is also one of the reasons that affect the hedging effect. If the hedger establishes corresponding positions in the futures market and finds that the price is unfavorable to him, he is likely to establish more positions to make up for some losses in the futures market when the price is favorable. If the price doesn't develop as he hopes, he will have to increase more margin. At this time, the bank will find that the profit of the loan account is not enough to make up for the loss of the hedge account. Sometimes the hedger trades in the futures market during the day, and the price is slightly unfavorable to him, so he cancels the hedging and tries to make up for it at a better price. As a result, a lot of commissions have been paid, but it is likely that the hedging position has not been established under the circumstances of significant changes in market prices. Of course, the hedger thinks that he is familiar with the market and has no hedging purpose. It is also possible to simply speculate. These situations have seriously damaged the hedger's own target interests and the quality of bank loans. Another important factor of successful hedging is basis. In hedging, we mean the spot price of the asset to be hedged minus the futures price of the contract used. Hedging theory holds that the hedgers in the futures market actually avoid the risk when the spot price changes greatly and accept the smaller risk of the basis change. Its essence is to regard hedging as arbitrage between spot and futures, and profit from the predictable change of the price relationship between spot and futures. Therefore, hedging is regarded as basic speculation. Generally speaking, the basis risk is less than the spot price risk, so that the hedger can obtain a satisfactory combination of risk and return for his assets. We know that the changes of spot price and futures price are not synchronous in most periods, so the basis is enlarged or reduced. This means that hedging may not be able to completely hedge the spot risk. Another issue we should consider is the choice of delivery month, which is also a factor affecting the basis risk. At the same time, grasping the timing and proportion of hedging is also within the scope of consideration. Therefore, it is very necessary for banks to control the hedging risk of loan customers. This requires the cooperation of banks, hedgers and futures companies. First of all, banks should require their loan customers to open hedging accounts in futures companies, and manage their bank loan accounts and hedging accounts as a whole to ensure that customers always maintain their original hedging intentions. The overall management of the two accounts and related agreements should be one of the conditions for considering the initial loan. Banks can ask futures brokerage companies to provide customer transactions to understand the positions and funds of their loan customer hedging accounts. Secondly, banks should ensure the realization of customer hedging, add margin to hedging accounts in time according to changes in market prices, and adjust the mortgage ratio of loan accounts. Hedgers will face short-term cash flow pressure because future positions need extra margin. These short-term cash flows may be offset by the final realization of long-term fixed-price contracts, but short-term huge outflows may cause greater risks to enterprises. The participation and monitoring of banks can effectively solve this problem. The accumulated profit of the hedging account should be handed over to the brokerage company for management, and the customer can't transfer the profit of the futures account at will until the account is closed and the loan is paid off. Third, hedgers should assure banks that they will not open speculative accounts. Banks can also sign agreements with customers. Under special circumstances, the bank can entrust the brokerage company to give instructions directly, and even use the hedged goods for physical delivery. Fourth, banks can also sign risk control agreements with brokers and use the risk control system of futures companies to control the risks of hedging customers within the required scope. Standardized futures brokerage companies have strict internal risk control system, which can control the risk of hedging accounts according to the requirements of banks. Fifth, banks should make use of the professionalism of brokers to study trading strategies with brokers and hedging customers. Brokerage companies should study and predict the change of basis, the choice of delivery month, the hedging ratio, the opportunity to enter the market, the operating cost and expected profit of hedging according to the specific situation of customers, so as to provide comprehensive information for hedging customers. After banks and customers make trading strategies, they should strictly implement them. Of course, both banks and hedgers should understand that hedging in the futures market can only improve the quality of bank loans and will not turn non-performing loans into excellent loans. The basis of the loan should be whether the loan is guaranteed by funds. Moreover, hedging can't be done by everyone, and it can't be done just for the sake of loans.