International Banking and Money Market
6 important questions on International Banking and Money Market
International banks do everything domestic banks do and:
- Arrange trade financing
- Arrange foreign exchange
- Offer hedging services for foreign currency receivables and payables
- Offer investment banking services (where allowed)
Types of international banking offices:
- Correspondent bank
- Representative offices
- Foreign branches
- Subsidiary and affiliate banks
- Edge act banks
- Offshore banking centers
- "Shell" branches
- International banking facilities
Subsidiary and affiliate banks:
- A subsidiary bank is a locally incorporated bank wholly or partly owned by a foreign parent.
- An affiliate bank is one that is partly owned but not controlled by the parent.
- U.S. parent banks like foreign subsidiaries because they allow U.S. banks to underwrite securities.
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Offshore banking centers:
- An offshore banking center is a country whose banking system is organized to permit external accounts beyond the normal scope of local economic activity.
- The country usually grants complete freedom from host-country governmental banking regulations.
- The IMF recognizes the following as major offshore banking centers: The Bahamas, Bahrain, the Cayman Islands, Hong Kong, the Netherlands Antilles, Panama, and Singapore.
Banking capital adequacy:
Eurodollar interest rate futures contract:
- Widely used futures contract for hedging short-term U.S. dollar interest rate risk.
- The underlying asset is a hypothetical $1, 000, 000 90-day Eurodollar deposit - the contract is cash settled.
- Traded on the CME and the Singapore International Monetary Exchange.
- The contract trades in the March, June, September, and December cycle.
The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding
