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1、 XXXX 毕业论文附录毕业论文附录论 文 名 称 农业银行股份制改革的障碍及对策研究学 生 姓 名 指 导 教 师 专 业 金融学 学 院 金融学院 年 6 月 20 日附录一 Functions of Global Commercial BanksCredit ServiceThe primary function of a global commercial bank, of course, is to accept deposits and lend money. Indeed lending is the cornerstone of global banking activity.
2、 Banks is overseas markets may lend money in local currency to local clients out of branches or subsidiaries in foreign countries, funded by local currency deposits or by local money-market borrowings. For example, Deutsche Banks branch in Mexico City may lend pesos to a local car manufacturer, fund
3、ed by peso deposits in its local branch. This is purely local business, in which the bank competes with domestic banks or with affiliates of other foreign financial institutions.Alternatively, the bank may also engage in cross-border lending, in which a loan is made to a borrower in a country other
4、than the lenders residence, and is denominated in a currency other than that of the borrowers currency. According to Federal Reserve Chairman Alan Greenspan in 1998, cross-border lending doubled in previous decade. For example, Deutsche Banks branch in London may loan U.S dollars to the same car man
5、ufacture in Mexico City. This loan is funded by dollars generated worldwide.All lending activities, whether direct or syndicated, should generate revenue for the bank. The spread is akin to gross profit on the loan; it is the difference between the interest the bank earns on the loan and the interes
6、t it pays on its own borrowed funds. The spread should be sufficient to cover overhead, risk, and profits. Lending activities can also generate a variety of fees. One form of lending, for example, is the revolving credit facility. This permits the customer to borrow, or draw, up to a certain maximum
7、 amount over an agreed time period under an agreed interest formula. This formula is usually based on the London Interbank Offered Rate, or LIBOR(the interest rate paid between banks for dollars on deposit in London), plus a margin reflecting the borrowers creditworthiness. Thus General Motors, for
8、example, might pay LIBOR plus 1/4 percentage point, while Bolivia might pay LIBOR plus 3percetage points. The bank, in turn, earns a commitment fee for standing ready to lend, whether or not the funds are actually disbursed. As we shall see, bans earn fees from a variety of lending-based services, s
9、uch as syndicated loans and letters of credit. Syndicated Loan FacilitiesSyndicated Loan are central tool international banking, widely used by banks to meet customers need for large-scale and/or high-risk loans. A syndicated loan is a credit extended by a group of bank to a single customer, usually
10、 on common terms. This permits the risk, which might be too large for one bank to accept on its own, to be shared out among a large group of bank. It also facilitates the extension of credits that would otherwise be too big for one bank to handle. Moreover, the syndication technique enables large an
11、d medium-sized regional banks to participate in international lending activities. Syndicated Loans are accompanied by a weighty set of loan documentation and some standard legal agreement. For example, the agreement will usually specify the judgment currency and legal jurisdiction if the parties fin
12、d it necessary to go to court; it will specify that all creditors are to be treated equally; and it will require the borrower, if a government, to waive its right to sovereign immunity(meaning that the bank can sue the government if necessary).Syndication can be a handsome source of fee revenue for
13、the lead bank or banks. In general, the borrower pays a commitment fee on the funds that are not disbursed, plus interest on the funds that are drawn down (usually, LIBOR plus a margin), as well as agent fee. Typically, one or more large bank acts as lead or agent in the facility, gathering informat
14、ion for use in judging the creditworthiness of the borrower organizing the loan, and selling it down to other participating banks. The lead institution must have the ability to market the credit to other financial institutions, and to perform the necessary tasks of structuring and pricing the credit
15、. Chase Manhattan (now J. P. Morgan Chase) has long reigned as the top bank in syndicated lending worldwide, with around 25 percent market share.The notion that syndicated loans reduce risk by sharing it out received a rude awakening in the 1980s, however, Credits to shaky Latin American borrowers,
16、for example, were syndicated widely, often unsophisticated regional institutions with little or no expertise in international lending. There is a tendency for participants in the syndication to replay heavily o the credit analysis of the large, more sophisticated bans, and it is unclear to what extent the lead bank is responsible for the accuracy of the information pre
