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Bank In addition to providing the appropriate financial instruments for the different risks facing the outside is also responsible for corporate accounts to monitor, providing real-time query and monitor all contract account balances and capital movements of services to help companies real-time control of capital flows.
And high-risk group of key employees, the use of classroom training methods to provide security awareness. For all employees to use e-learning to distinguish between treat not only save costs, but also can make from time and place restrictions on teaching.
Financial market is constantly changing, bring substantial return on investment in the same time could bring huge losses, especially for businesses, a huge amount of investment, financial risk management become increasingly important to banks by risk aversion and hedge funds increased product description enterprises avoid exchange rate, interest rate and liquidity risk, while increasing the value of funds.
First, the foreign exchange risk management
Many branches and sub public are multinational companies set up in offshore, so it has a lot of foreign currency business, some domestic enterprises, there are some international business, there will be regular foreign exchange receipts and payments. Under the floating exchange rate system, sudden changes in exchange rates may bring economic gains or losses to multinational companies, it must be managed to prevent the risk of exchange rate losses caused by exchange rate changes, in order to get the maximum economic benefit, but also foreign exchange risk management of multinational corporations can make cash flow more stable, reducing the uncertainty of future earnings, increase the discounted value of future cash flows.
To achieve effective management of foreign exchange risk, it is necessary to do the prediction of exchange rate changes, the second is the risk of exchange rate changes affect the measurement, the third is the design of appropriate protection policies.
That is (far) Exchange trading
Forward foreign exchange trading is to avoid foreign exchange risk, fixed foreign exchange costs of the world's most commonly used method. Forward foreign exchange trading refers to the buyers and sellers of exchange rates in accordance with the foreign exchange contract, the agreed deadline for delivery of foreign exchange transactions. In general, companies in foreign trade settlement, to find funding abroad, foreign exchange contributions or further process the goods in question are related to foreign exchange hedging through forward foreign exchange hedging business, companies can advance to exchange an item of fixed costs, Lock forward foreign exchange costs or payment of, so as to achieve the purpose of preservation, but also enables enterprises to focus time and manpower improve operations. Although forward exchange can lock in exchange rates, so that the import and export trader into free exchange rate fluctuations may bring losses, but if an error of judgment, enterprise profit opportunities will be reduced accordingly.
That is (far) on foreign exchange
Forward foreign exchange business is an enterprise with the bank signed a forward foreign exchange agreement, agreed future settlement or sale of foreign exchange in the foreign exchange currency, the amount of reported and the exchange rate, when the agreement expires by handling foreign exchange business.
In the financial markets, with foreign exchange option contracts for the target assets referred to foreign currency option contracts, business after paying a certain amount of premium, the right to a specific time in the future according to the agreed exchange rate to the bank agreed to sell an amount of currency or sell a currency. FX Options provide enterprises both a foreign exchange hedging method, and forward foreign exchange to buy real terms compared with greater flexibility. It provides businesses with the opportunity to profit from changes in exchange rates. Depending on the time for performance options can be divided into American options and European options.
American Option means the option any day before the expiration of the mouth portion can be performed; European option refers to the expiration of the option can only be executed the same day. According gives the option buyer the right to be different options can be divided into call and put options. Options contracts traded was actually a right, foreign exchange options buyer the right to decide whether the contract price of the contract to buy or sell a certain amount of foreign exchange. To get this right, the buyer of an option contract only need to pay a fee. After expiration, the option buyer the right to decide whether they contract to perform the contract according to the current exchange rate movements. If you do not fulfill it, the buyer in terms of the loss of foreign exchange option contracts are merely a premium, relative profit opportunities that will enjoy will be very large.
Foreign exchange swaps
Eradicate currency swap agreement, the bank within a certain period in an evasive denominated debt (as assets) into another currency denominated debt (as assets) for the enterprise, effectively avoid the risk of exchange rate fluctuations.
And foreign currency-linked structured deposits
Structured deposits and exchange rate-linked enterprises according to their own projections for certain currency exchange rate fluctuations, take some interest in the premise of the risk of loss, and the bank signed a structured deposit agreement, deposit interest rates higher than the rate of return on a regular basis, for reduce exchange rate fluctuations arising reported missing. Structured deposits linked with the exchange rate band, is an enterprise with the bank pre-agreed exchange rate fluctuation range. Set within the variation range of a higher deposit rates, in the interval, the deposit rate is correspondingly low, at a fixed time every weekday observe a reference exchange rate, to determine the actual interest rate.
Many lack safety awareness of employees, information security system is becoming the most serious and most difficult to repair vulnerabilities.
Second, the interest rate risk management
Interest rate risk refers to the business due to the fluctuation of interest rates leaving companies face future income earnings, fluctuations in the value of assets or debt uncertainty. In the interest rate market environment, changes in interest rates so that enterprises facing financing and investment risk, which is the main manifestation of corporate interest rate risk. In addition, changes in interest rates will affect the business of operating cash flow and enterprise value. In short, the interest rate risk forms of enterprises including financing interest rate risk, the investment interest rate risk, interest rate risk and business value interest rate risk.
Forward rate agreements
Forward rate agreement is an agreement with the bank agreed to certain corporate rates point in time (the starting date refers to the interest) certain period began, and the provision in which the interest rate is the reference rate, the interest in the future starting date, according to the provisions of the agreement interest rate, term and The amount paid by the party concerned in one direction and the reference rate interest rate agreements difference posted limit.
Specifically, the forward rate agreement is a long-term contract. The two sides agreed to a contract amount of the interest rate applied to a notional principal of a future period of time, the lender agreed to lend the borrower is nominally a certain amount, the interest rate on this loan signed on behalf of the forward rate agreement The two sides finalized the general interest loans in the loan period end date, but the forward rate agreement settlement generally choose the starting day in the name of the loan, the difference between the agreed settlement amount of interest rate and interest reference rate calculated by discounting to the delivery the discounted value of the day, the role of merely notional principal amount of the loan is that the calculation of delivery without actually occur. If the reference rate is higher than the agreed interest rate, then painted the borrower to pay the lender, the borrower and vice versa paid to the lender.
The foreign currency interest rate swaps
The so-called interest rate swaps, interest payments are changed by the way, and change the structure of debt or debt, after the two sides signed the contract, in accordance with the provisions of the contract, exchanged interest approach. Such as mining floating rate exchange fixed rate or floating rate will be some kind of exchange to another floating interest rates. The parties do not exchange the principal, the principal just as the calculation base. Purpose:
① hedge interest rate risk: the existing debt so that users have the opportunity to use interest rate swaps to reassemble, for example, when interest rates are expected under the skin, can be fixed-rate debt form, into floating interest rates, when interest rates decline, reduce the cost of debt, if interest rates are expected to rise, the reverse operation, thus avoiding interest rate risk.
② increase assets: Interest rate swaps and interest is not limited to the liability side of the exchange, in the same manner, in terms of assets may also be use. General asset holder can in anticipation of falling interest rates, convert fixed rate assets to form, or in anticipation of rising interest rates, convert its assets to floating rate form.
③ flexible asset and liability management: When I want to change the composition or types of assets and liabilities to match the investment management organization or the future direction of interest rate lock, you can use interest rate swaps to adjust, without the need to sell assets or pay down debt, floating rate assets can be cooperates with floating rate liabilities, fixed-rate assets and liabilities with fixed interest rates can cooperate.
Interest Rate Futures
Refers to the bond interest rate futures for the target securities futures contracts, it can avoid the risk of fluctuations in the price of securities arising from bank interest rate changes, interest rate futures of many species, there are many classifications. Generally in accordance with the contract term goals, short-term interest rate futures can be divided into long-term interest rate futures and interest rate futures two categories. Interest rate futures have the following characteristics:
① interest rate futures prices and real interest rates to changes in the opposite direction, that is, the higher interest rates, lower bond futures prices; the lower the interest rate, the higher the bond futures prices.
Source: Corporate Treasurer
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