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INTERNATIONALFINANCIALMANAGEMENTEUN/RESNICKSecondEdition6ChapterSixInternationalBankingandMoneyMarketChapterObjective:Thischapterservestobeginourdiscussionofworldfinancialmarketsandinstitutions.ChapterSixOutlineInternationalBankingServicesTheWorld’sLargestBanksChapterSixOutlineInternationalBankingServicesReasonsforInternationalBankingChapterSixOutlineInternationalBankingServicesReasonsforInternationalBankingTypesofInternationalBankingOfficesCorrespondentBankRepresentativeOfficesForeignBranchesSubsidiaryandAffiliateBanksEdgeActBanksOffshoreBankingcentersInternationalBankingFacilitiesChapterSixOutlineInternationalBankingServicesReasonsforInternationalBankingTypesofInternationalBankingOfficesCapitalAdequacyStandardsChapterSixOutlineInternationalBankingServicesReasonsforInternationalBankingTypesofInternationalBankingOfficesCapitalAdequacyStandardsInternationalMoneyMarketEurocurrencyMarketsEurocreditsForwardRateAgreementsEuronotesEuro-Medium-TermNotesEurocommercialPaperChapterSixOutlineInternationalBankingServicesReasonsforInternationalBankingTypesofInternationalBankingOfficesCapitalAdequacyStandardsInternationalMoneyMarketInternationalDebtCrisisHistoryDebt-for-EquitySwapsTheSolution:BradyBondsTheAsianCrisisInternationalBankingServicesInternationalBanksdoeverythingdomesticbanksdoand:Arrangetradefinancing.Arrangeforeignexchange.Offerhedgingservicesforforeigncurrencyreceivablesandpayablesthroughforwardandoptioncontracts.Offerinvestmentbankingservices(whereallowed).TheWorld’s10LargestBanksBankofAmericaU.S.CitigroupU.S.HSBCHoldingsU.K.CréditAgricoleGroupFranceChaseManhattanU.S.Industrial&CommercialBankofChinaChinaUBSSwitzerlandDeutscheBankGermanyWellsFargoU.S.BankOneU.S.LowMarginalCostsManagerialandmarketingknowledgedevelopedathomecanbeusedabroadwithlowmarginalcosts.ReasonsforInternationalBankingLowMarginalCostsKnowledgeAdvantageTheforeignbanksubsidiarycandrawontheparentbank’sknowledgeofpersonalcontactsandcreditinvestigationsforuseinthatforeignmarket.ReasonsforInternationalBankingLowMarginalCostsKnowledgeAdvantageHomeNationInformationServicesLocalfirmsinaforeignmarketmaybeabletoobtainmorecompleteinformationontradeandfinancialmarketsinthemultinationalbank’shomenationthanisobtainablefromforeigndomesticbanks.ReasonsforInternationalBankingLowMarginalCostsKnowledgeAdvantageHomeNationInformationServicesPrestigeVerylargemultinationalbankshavehighperceivedprestige,whichcanbeattractivetonewclients.ReasonsforInternationalBankingLowMarginalCostsKnowledgeAdvantageHomeNationInformationServicesPrestigeRegulatoryAdvantageMultinationalbanksareoftennotsubjecttothesameregulationsasdomesticbanks.ReasonsforInternationalBankingLowMarginalCostsKnowledgeAdvantageHomeNationInformationServicesPrestigeRegulatoryAdvantageWholesaleDefensiveStrategyBanksfollowtheirmultinationalcustomersabroadtoavoidlosingtheirbusinessathomeandabroad.ReasonsforInternationalBankingRe底as泛on翁s似fo認r丟In豆te守rn減at夏io漸na描l性Ba屠nk仰in次gLo擾w守Ma腎rg貸in析al灘C度os頁tsKn擋ow撤le瞎dg蜜e犁Ad販va羞nt我ag蒸eHo把me戒N恒at迷io恐n恢In融fo觸rm瞞at給io論n陪Se況rv灑ic耗esPr網(wǎng)es云ti只geRe億gu俗la他to棉r(nóng)y瞎A拼dv招an摸ta耍geWh光ol這es葛al兆e鈔De說fe收ns豎iv弊e題St惱ra般te主gyRe捐ta掠il鋸D渣ef通en白si苦ve守S絕tr皇at漢eg規(guī)yMu競lt桌in裹at番io介na橋l勸b卡an揪ks頸a尼ls溜o元co撓mp再et長e飯fo死r胖re粥ta攀il干s筍er跡vi偏ce培s曲su遵ch滅a遺s葵tr思av阻el毫er遮s輪ch呆ec玻ks警,承to榴ur革is波t收an巴d伶fo耳re儀ig鐮n折bu邊si旅ne饒ss飄m逗ar站ke糖t.Kn抄ow怪le熟dg待e盆Ad饑va討nt處ag則eHo晚me附N遷at欣io緒n宗In萌fo委rm遇at藥io搜n蹲Se取rv榴ic縮慧esPr念es內(nèi)ti立geRe接gu果la監(jiān)to辛ry各A留dv修an兼ta府geWh盆ol毀es漿al仿e塵De飄fe煤ns稅iv介e孫St笨ra遞te癥gyRe嬸ta頸il區(qū)D坑ef及en駕si衛(wèi)ve昨S影tr宅at簽eg尸yTr意an愛sa凳ct滲io鄭ns讀C簡os帖tsMu征lt相in身at且io廢na衰l疤ba疏nk付s陵ma鄉(xiāng)豐y仿be獻a輛bl觸e詠to充c陽ir灣cu霉mv材en綁t盒g(shù)o葉ve朵rn偏me屋nt決c陪ur逮re疫nc懼y貧co器nt專ro違ls徒.Re誼as趁on或s唱fo葛r駐In纖te貴rn城at的io態(tài)na招l(wèi)朋Ba工nk槐in工gHo違me診N親at糞io鳥n富In訂fo儉rm頑at折io望n臭Se代rv陶ic炒esPr洋es駛ti踩geRe象gu新la犬to骨ry膏A往dv扶an賀ta如geWh眉ol盲es怖al懸e搜De勞fe剖ns池iv鋤e熊St另ra步te畢gyRe伏ta棕il陷D麥ef排en童si螺ve自S鐘tr開at裳eg毒yTr調(diào)an敏sa顛ct竊io堤ns乞C養(yǎng)os國tsGr抱ow興thFo捕re癢ig異n劍ma段rk神et雹s燥ma線y局of啟fe杰r播op攤po偷rt辰un遞it蕩ie懷s傅to私g拼ro街wt碼h秘no潑t籮fo揪un肆d燃do攔me駐st魂ic斜al黑lyRe擾as釋on剃s俊fo襖r任In殿te跑rn秤at藝io捷na請l用Ba榨nk座in徹gPr雙es鄙ti婦geRe要gu汗la迫to逆ry衣A坑dv捆an慎ta判g(shù)eWh嘆ol巖es滴al牽e瞎De糊fe肢ns蛛iv滾e抗St正ra記te絮gyRe竊ta奇il粉D脫ef象en摸si換ve迎S委tr信at勿eg蹦yTr工an妹sa埋ct積io撲ns揭C糞os尖tsGr震ow劫thRi惑sk孩R室ed減uc駛ti拋onGr奴ea祖te孕r右st議ab膽il顧it滋y話of蝕e首ar季ni享ng仗s曾du運e王to遮d偶iv談er饒si季fi蛇ca謎ti造on朋.Re參as丸on發(fā)s娘fo牧r艙In揉te怪rn猴at葵io咐na犧l川Ba初nk癢in紅gTy奴pe拔s噸of付I斥nt嬸er顏na醫(yī)ti恨on臣al水Ba演nk死in須g河Of扯fi體ce舉sCo伯rr殘es僵po宣nd嬌en晴t惑Ba們nkRe寬pr看es便en妻ta頌ti鏟ve丘O笑ff捧ic滿esFo釘re迫ig簡n另Br慨a(chǎn)n廉ch妖esSu需bs鍵id浮ia疲ry濤a洋nd辣A館ff趕il央ia垃te姑B閣an浪ksEd禿ge涂A謊ct銳B稿an借ksOf是fs竄ho矛re企B料an汪ki奶ng守C惑en補te黃rsIn餅te喜rn潔at椅io程na疲l唐Ba現(xiàn)nk范in輪g洞Fa疾ci批li盡ti禁esCo辟rr薪es款po帝nd羞en淘t頭Ba們nkAco奔rr銳es哨po干nd鄭en鈴t伸ba占nk輝in胸g般re薦la時ti喝on報sh蝦ipex炎is捆ts何w愧he寒n恨tw姜o線ba釋nk箏s汪ma掏in怨ta勝in菜d魯ep毅os嬸it休s嶄wi衣th職e孩ac盤h炊ot扁he憑r.Co弦rr數(shù)es腥po曾nd診en訪t英ba犧nk麻in礦g獅al邁lo江ws她a瘋b掃an杏k’迷s厘MN葉C寒cl坦ie忠nt尖t那o頁co曉nd畫uc捧t喇bu老si響ne盈ss念w巧or達ld躍wi枕de假t袋hr處ou和gh軟h投is粒l親oc意al餃b追an澤k紀or博i堂ts旗c趨or討re恰sp惜on疼de偽nt逐s.Re柔pr塵es控en痕ta當ti啦ve做O角ff閑ic腫esAre恥pr估es窄en村ta棋ti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