国际金融课件(2).ppt

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1、TheglobalbusinessfinanceenvironmentInternationalfinanceForeigndirectinvestmentInventoryofinternationalFinancialresources1.introduction2.theenvironmentinternationalmonetarysystemthebalanceofpayment3.thetheoriesofforeignexchangeratedetermination4.foreignex

2、changeexposure1.non-bankfinancialinstitutionfinancialresources2.internationalfinancialmarkets3.internationalderivativesexchange-traded4.nonexchangetradedderivativesInventoryofinternationalfinancialresourcesNon-bankfinancialinstitutionsinglobalfinanceInte

3、rnationalfinancialmarketsInternationalderivativesexchange-tradedInternationalnon-exchangetradedderivativesNon-bankPublicinternationalfinancialinstitutionspublicglobalfinancialinstitutionsregionalpublicnationalpublicPrivateinternationalfinancialinstitutio

4、nsglobalprivateregionalprivatenationalprivateInternationalfinancialmarketsEurocurrencymarketsInternationaldebtsmarkets-long-termglobalbonds/foreignbonds/eurobonds/specialtypesofbondsShort-andmedium-termdebtmarketsEuro-commercialpaperandeuro-medium-termno

5、tes/floatingrateeuro-notesInternationalequitiesInternationalderivativesexchange-tradedUsersofderivatives/risksofderivativesCurrencyfuturesandoptionsInterestratefuturesandoptionsInternationalnon-exchangetradedderivativesCurrencyandinterestrateswapsInter-b

6、ankcurrencyfuturesandoptionsExoticderivativesEurocurrencymarketsInternationalDebtMarkets-long-termShort-andMedium-termDebtMarketsInternationalEquitiesInternationalfinancialmarketsEurocurrencymarkets1.TheEurocurrencymarkethasbeenreferredtoasastatelessvato

7、fmoney,essentiallyowingtonoallegiancetoanynation.Itisahuge,globalinter-bankmoneyandcapitalmarketthatfacilitatesloanswithmaturitiesrangefrom90daysto10yearsormoreandthatisalmosttotallyoutsideallgovernmentregulations.Eurocurrencymarkets2.Thecostoffundsinthi

8、smarketisbasedonLIBOR,theLondonInter-bankOfferRate,therateatwhichbanksintheinter-banksystemchargeeachotherforfundsofmanydifferentmaturities3.OriginofthemarketAnumberofreasonshavebeengivenfortheoriginoftheEurocurrencymarket