《国际财务管理》（英文版） Chap 6 International Banking and Money Market

Chapter SⅸX International Banking and Money Market Chapter objective This chapter serves to begin our discussion of world financial markets and institutions

Irwin/McGraw-Hill Copyright © 2001 by The McGraw-Hill Companies, Inc. All rights reserved. INTERNATIONAL FINANCIAL MANAGEMENT EUN / RESNICK Second Edition 6 Chapter Six International Banking and Money Market Chapter Objective: This chapter serves to begin our discussion of world financial markets and institutions

Chapter Six Outline o International Banking Services The Worlds largest banks IrwinMMcGraw-Hill Copyright C 2001 by The McGraw-Hill Commpanies, Inc. All rights

Irwin/McGraw-Hill Copyright © 2001 by The McGraw-Hill Companies, Inc. All rights reserved. Chapter Six Outline ⚫ International Banking Services ◼ The World’s Largest Banks

Chapter Six Outline o International Banking Services o Reasons for International Banking IrwinMMcGraw-Hill Copyright C 2001 by The McGraw-Hill Commpanies, Inc. All rights

Irwin/McGraw-Hill Copyright © 2001 by The McGraw-Hill Companies, Inc. All rights reserved. Chapter Six Outline ⚫ International Banking Services ⚫ Reasons for International Banking

Chapter Six Outline International Banking Services Reasons for International Banking Types of International Banking Offices Correspondent bank Representative Offices 上 oreign Branches Subsidiary and affiliate banks Edge Act Banks Offshore banking centers International Banking Facilities IrwinMMcGraw-Hill Copyright C 2001 by The McGraw-Hill Commpanies, Inc. All rights

Irwin/McGraw-Hill Copyright © 2001 by The McGraw-Hill Companies, Inc. All rights reserved. Chapter Six Outline ⚫ International Banking Services ⚫ Reasons for International Banking ⚫ Types of International Banking Offices ◼ Correspondent Bank ◼ Representative Offices ◼ Foreign Branches ◼ Subsidiary and Affiliate Banks ◼ Edge Act Banks ◼ Offshore Banking centers ◼ International Banking Facilities

Chapter Six Outline e International Banking services o Reasons for International Banking Types of International Banking Offices Capital Adequacy Standards IrwinMMcGraw-Hill Copyright C 2001 by The McGraw-Hill Commpanies, Inc. All rights

Irwin/McGraw-Hill Copyright © 2001 by The McGraw-Hill Companies, Inc. All rights reserved. Chapter Six Outline ⚫ International Banking Services ⚫ Reasons for International Banking ⚫ Types of International Banking Offices ⚫ Capital Adequacy Standards

Chapter Six Outline International Banking Services Reasons for International Banking Types of International Banking Offices Capital Adequacy Standards International Money Market Eurocurrency Markets Eurocredits Forward Rate agreements Euronotes Euro-Medium- Term notes Eurocommercial Paper IrwuinMMMcGrau-Hill 6-# Copyright C 2001 by The McGraw-Hill Commpanies, Inc. All rights

Irwin/McGraw-Hill Copyright © 2001 by The McGraw-Hill Companies, Inc. All rights reserved. Chapter Six Outline ⚫ International Banking Services ⚫ Reasons for International Banking ⚫ Types of International Banking Offices ⚫ Capital Adequacy Standards ⚫ International Money Market ◼ Eurocurrency Markets ◼ Eurocredits ◼ Forward Rate Agreements ◼ Euronotes ◼ Euro-Medium-Term Notes ◼ Eurocommercial Paper

Chapter Six Outline International Banking Services Reasons for International Banking Types of International Banking Offices Capital Adequacy Standards o International Money Market International Debt Crisis History Debt-for-Equity Swaps u The Solution: Brady bonds The asian crisis IrwinMMcGraw-Hill Copyright C 2001 by The McGraw-Hill Commpanies, Inc. All rights

Irwin/McGraw-Hill Copyright © 2001 by The McGraw-Hill Companies, Inc. All rights reserved. Chapter Six Outline ⚫ International Banking Services ⚫ Reasons for International Banking ⚫ Types of International Banking Offices ⚫ Capital Adequacy Standards ⚫ International Money Market ⚫ International Debt Crisis ◼ History ◼ Debt-for-Equity Swaps ◼ The Solution: Brady Bonds ◼ The Asian Crisis

International Banking services o International Banks do everything domestic banks do and Arrange trade financing Arrange foreign exchange Offer hedging services for foreign currency receivables and payables through forward and option contracts Offer investment banking services(where allowed) IrwinMMcGraw-Hill Copyright C 2001 by The McGraw-Hill Commpanies, Inc. All rights

Irwin/McGraw-Hill Copyright © 2001 by The McGraw-Hill Companies, Inc. All rights reserved. International Banking Services ⚫ International Banks do everything domestic banks do and: ◼ Arrange trade financing. ◼ Arrange foreign exchange. ◼ Offer hedging services for foreign currency receivables and payables through forward and option contracts. ◼ Offer investment banking services (where allowed)

The World s 10 Largest banks Bank of america U.S Citigroup U.S HSBC Holdings U.K Credit Agricole group F1 rance Chase Manhattan U.S Industrial Commercial Bank of China China UBS Switzerland Deutsche bank germany Wells fargo U.S Bank one IrwuinMMMcGrau-Hill 6-# Copyright C 2001 by The McGraw-Hill Commpanies, Inc. All rights

Irwin/McGraw-Hill Copyright © 2001 by The McGraw-Hill Companies, Inc. All rights reserved. The World’s 10 Largest Banks Bank of America U.S. Citigroup U.S. HSBC Holdings U.K. Crédit Agricole Group France Chase Manhattan U.S. Industrial & Commercial Bank of China China UBS Switzerland Deutsche Bank Germany Wells Fargo U.S. Bank One U.S

Reasons for International Banking Low Marginal costs Managerial and marketing knowledge developed at home can be used abroad with low marginal costs IrwinMMcGraw-Hill Copyright C 2001 by The McGraw-Hill Commpanies, Inc. All rights

Irwin/McGraw-Hill Copyright © 2001 by The McGraw-Hill Companies, Inc. All rights reserved. ⚫ Low Marginal Costs ◼ Managerial and marketing knowledge developed at home can be used abroad with low marginal costs. Reasons for International Banking