商业银行管理Bank ManagmentFinancial Services7th第20章课后题答案.docx

商业银行管理Bank ManagmentFinancial Services7th第20章课后题答案.docx

《商业银行管理Bank ManagmentFinancial Services7th第20章课后题答案.docx》由会员分享，可在线阅读，更多相关《商业银行管理Bank ManagmentFinancial Services7th第20章课后题答案.docx（13页珍藏版）》请在冰豆网上搜索。

商业银行管理BankManagmentFinancialServices7th第20章课后题答案

CHAPTER20

INTERNATIONALBANKINGANDTHEFUTUREOFBANKINGANDFINANCIALSERVICES

GoaloftheChapter:

Thepurposeofthischapteristolearnwhatservicesinternationalbanksoffertheircustomersandtodiscovertheoptionsabankmanagerhasunderlawandregulationtoorganizeamultinationalbank.

KeyTopicsinThisChapter

∙TypesofInternationalBankingOrganizations

∙RegulationofInternationalBanking

∙ForeignBankingActivityintheUnitedStates

∙ServicesProvidedbyInternationalBanks

∙ManagingCurrencyRiskExposure

∙ChallengesforInternationalBanksinForeignMarkets

∙TheFutureofBankingandFinancialServices

ChapterOutline

I.Introduction

II.TypesofForeignBankingOrganizations

A.RepresentativeOffices

B.AgencyOffices

C.BranchOffices

D.Subsidiaries

E.JointVentures

F.EdgeActCorporations

G.AgreementCorporations

H.InternationalBankingFacilities（IBFs）

I.ShellBranches

J.ExportTradingCompanies（ETCs）

III.RegulationofInternationalBanking

A.GoalsofInternationalBankingRegulation

B.U.S.Banks’ActivitiesAbroad

C.ExpansionandRegulationofForeignBankActivityintheU.S.

1.TheInternationalBankingActof1978

2.ForeignBankSupervisionEnhancementActof1991

D.NewCapitalRegulationsforMajorBanksWorldWide

1.InternationalLendingandSupervisionAct

2.BaselAgreement

IV.

ServicesSuppliedbyBanksinInternationalMarkets

A.MakingForeignCurrenciesAvailableforCustomerandProprietaryTransactions

B.HedgingAgainstForeignCurrencyRiskExposure

1.ForwardContracts

2.CurrencyFuturesContracts

C.OtherToolsforReducingCurrencyRisks

1.TheDevelopmentofCurrencyOptions

2.CurrencySwaps

D.SupplyingCustomerswithShort-andLong-TermCreditorCreditGuarantees

1.NoteIssuanceFacilities

2.Europaper

3.IssuingandManagingDepositoryReceipts

E.SupplyingPaymentsandThrift（Savings）InstrumentstoInternationalCustomers

1.PaymentsServices

2.Savings（Thrift）Services

F.UnderwritingCustomerNoteandBondIssuesintheEurobondMarket

G.ProtectingCustomersAgainstInterestRateRisk

1.InterestRateSwaps

2.InterestRateCaps

3.FinancialFuturesandOptions

H.HelpingCustomersMarketTheirProductsThroughExportTradingCompanies

V.ChallengesforInternationalBanksinForeignMarkets

A.GrowingCustomerUseofSecuritiesMarketstoRaiseFunds

B.DevelopingBetterMethodsforAssessingRiskinInternationalLending

1.InternationalLoanRisks

2.PossibleSolutionstoTroubledInternationalLoans

3.InternationalLoanRiskEvaluationSystems

C.AdjustingtoNewMarketOpportunitiesCreatedbyDeregulationandNewInternationalAgreements

1.OpportunitiesCreatedbyNAFTAandCAFTA

2.OpportunitiesintheExpandingEuropeanCommunity

3.OpportunitiesinAsiaasBarriersErode

VI.TheFutureofBankingandFinancialServices

A.Convergence

B.Consolidation

C.SurvivalofCommunityFinancialServiceInstitutions

D.ReachingtheMassMedia

E.InvasionbyIndustrialandRetailingCompanies

F.TheWal-MartChallenge

VII.SummaryoftheChapter

ConceptChecks

20-1.Whatorganizationalformsdointernationalbanksusetoreachtheircustomers?

Theseformsincluderepresentativeoffices,branchoffices,subsidiaries,jointventures,EdgeActsubsidiaries,IBFs,shellbranches,andETCs.Representativeofficesgenerallydonotprovideconventionalbankingservicesbutserveasachanneltoroutecustomerserviceneedsbacktoabank'shomeoffice,whilebranchofficesgenerallyofferafullrangeofbankingservices.Subsidiariesareseparatecorporationsthatareownedbyabankingfirm,whilejointventuresaresharedbusinessoperationsusuallyjointlyownedbyaforeignbankorbankholdingcompanyandadomesticfirm.EdgeActsubsidiariesareoperatedinsidetheUnitedStatesbybothdomesticandforeignbanksandmust,byregulation,devotethebulkoftheirserviceactivitiestoprovidinginternationalbankingservicestooffshorecustomers.IBFsareinternationalbankingfacilitieslocatedinU.S.territorythatreflectstransactionscarriedoutonbehalfofinternationalcustomers.BothforeignanddomesticU.S.banksmayoperatethesecomputerizedsetsofaccountsknownasIBFs.Shellbranchesaremerelyoffshorebookingofficestokeeptrackofborrowingsofinternationalmoney-marketfundsandtoavoiddomesticregulations.Finally,ETCsareexporttradingcompaniesthatprovidefinancing,insurance,marketanalysis,andotherservicesneededbybusinessesexportingorimportinggoodsfromabroad.

20-2.Whyaretheresomanydifferenttypesofinternationalorganizationsinthefinancialinstitutions’sector?

Differentorganizationalformsareusedforseveralreasons.Thesedifferentorganizationalformsoftenservedifferentfunctionsandwhichoneaninstitutionchoosestousemaydependontheirgoalsandobjectives.Inaddition,thelawsinonecountrymayrestrictorprohibittheuseofaparticulartypeoforganizationalform.Finally,theremaybetaxadvantagesofoneformoveranotherandtheremaybedifferingabilitiestoraisecapitalandotherfunds.

20-3.Whataretheprincipalgoalsofinternationalbankingregulation?

Theprincipalgoalsofinternationalbankingregulationinclude:

protectingthesafetyofdepositorfunds,

promotingstablegrowthinmoneyandcredit,

protectinganationagainstlossofitsforeigncurrencyreserves,

restrictingtheoutflowofscarcecapital,and

protectingdomesticfinancialinstitutionsandfinancialmarketsfromforeigncompetition.

20-4.WhatwerethekeyprovisionsoftheU.S.InternationalBankingActof1978andtheInternationalLendingandSupervisionActof1983?

TheU.S.InternationalBankingActof1978broughtforeignbanksoperatingintheUnitedStatesunderfederalregulationforthefirsttime.Itrequiredforeignbankingofficestakingdepositsfromthepublictopostreserverequirementsandallowedthemtoapplyfordepositinsurance.

TheInternationalLendingandSupervisionActof1983mandatedminimumlevelsofcapitalforU.S.banksandsoughttoreducebankriskexposurefrominternationalloans.

20-5.ExplainwhattheBaselAgreementisandwhyitissoimportant.

TheBasleAgreementisanegotiatedagreementbetweenbankregulatoryauthoritiesintheUnitedStates,Canada,GreatBritain,Japan,andeightothernationsinWesternEuropetosetcommoncapitalrequirementsforallbanksundertheirjurisdiction.TheimportanceoftheBasleAgreementistwofold:

（1）itstrengthensinternationalbanks,therebystrengtheningpublicconfidenceinthem,and

（2）itremovesimportantinequalitiesinbankingregulationbetweennationsthatcontributetocompetitiveinequalitiesbetweenbanks.

20-6.Describetheprincipalcustomerservicessuppliedbyinternationalbanksservingforeignmarkets.

Theprincipalcustomerservicessuppliedbyinternationalbanksare:

（1）makingforeigncurrenciesavailableforcustomertransactions,

（2）helpingsheltertheircustomers'currencyriskexposurethroughtheuseofforwardcontracts,currencyfuturescontracts,currencyoptions,andcurrencyswaps,（3）supplyingcustomerswithshort-andlong-termcreditorcreditguarantees,（4）supplyingpaymentsandthrift（savings）instrumentstointernationalcustomers,（5）underwritingcustomernoteandbondissuesintheEurobondmarket,（6）protectingcustomersagainstinterestraterisk,and（7）helpingcustomersmarkettheirproductsthroughexporttradingcompanies.

20-7.Whattypesofriskexposuredointernationalbanksstrivetocontrolinordertoaidtheircustomers?

Internationalbanksstrivetocontrolcurrencyriskexposureandinterestrateriskexposureinordertoaidtheircustomers.

20-8.WhatisaNIF?

AnADR?

Anoteissuancefacility（NIF）isamedium-termcreditagreementbetweenaninternationalbankanditslargercorporateandgovernmentalcreditcustomers,wherethecustomerisauthorizedtoperiodicallyissueshort-termnotes,eachofwhichusuallycomesdueandisretiredin90to180days,overastipulatedcontractperiod（suchasfiveyears）,withthebankpledgingtobuyanynotesthecustomercannotselltootherinvestors.AnAmericandepositoryreceipt（ADR）isareceiptissuedbyaU.S.bankthatmakesiteasierforaforeignbusinessborrowertosellitssecuritiesintheUnitedStates.

20-9.OfwhatbenefitmightNIFsandADRsbetointernationalbanksandtheircustomers?

BothNIFsandADRsprovidefeeincometointernationalbanks,andallowthebankstoofferadditionalservicestotheircustomers.NIFsprovidecreditguaranteesforcustomers'borrowingsintheopenmarket.ADRsmakeiteasierforaforeignbusinessborrowertosellitssecuritiestoU.S.investors.

20-10.WhatareETCs?

WhatservicesdotheyprovideandwhatproblemshavetheyencounteredinsidetheUnitedStates?

AnETCisanexporttradingcompanylaunchedbylargebanks.ThepurposeoftheseETCsistoresearchforeignmarkets,identifyfirmsinthoseforeignmarketsthatcoulddistributeproducts,andthenprovideorarrangethefunding,insurance,andtransportationneededtomovegoodstomarket.

20-11.WhatdothetermsEuropaperandEurobondsreferto?

Whyaretheseinstrumentsimportanttointernationalbanksandtheircustomers?

EuropapersconsistofshorttermIOUsandEurobondsarelongtermdebtsecuritiesplacedindenominationthatarenotthecurrencyofthecountrywheretheyareissued.ThemainmarketforthesesecuritiesisinLondon.TheseinstrumentsallowcompaniesthatarenotabletocracktheUSmarkettolaunchdollardenominatedsecurities.Inaddition,Eurobondsareusedbycompaniestofinancetheirforeigninvestments.

20-12.Whattypesoftools