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Jo · 2024年08月07日

求C的解释

NO.PZ2020042003000042

问题如下:

The followings are about uses of intraday liquidity, which of the statements is NOT correct?

选项:

A.

Outgoing wire transfers is the largest use of intraday liquidity

B.

Most PCS (payment, clearing, and settlement systems) systems have one settlement per day, with many occurring in the late afternoon. Most PCS can only serve as use of funds.

C.

Acquiring additional collateral to support an increasing liability (margin call) is a frequent use of intraday funding.

D.

On any given day, the nostro account funding position may act as a source or use of funds to the bank's overall liquidity profile, depending on the net position of the activity.

解释:

考点:对Uses and Sources of Intraday Liquidity的理解

答案:选项B描述错误,本题选B

解析:

B选项前半句描述正确,绝大多数PCS systems每日只有一次SettlementMost PCS systems have one settlement per day, with many occurring in the late afternoon.

但是后半句描述错误,根据PCS净头寸的不同,他即可能充当Source of funds也可能是use of funds

B选项的后半句改为正确的语句为:

PCS may serve as either a source or use of funds depending on the net position of a participant on any given day.

选项C的Acquiring additional collateral 是什么意思?获得抵押物以支持流动性?不应该是拿抵押物出去抵押以获得现金来支持流动性吗?谢谢

2 个答案

李坏_品职助教 · 2024年08月08日

嗨,爱思考的PZer你好:


这个不算的。


美国的银行一般用高质量国债作为抵押品,而客户的存款不能被直接当做银行自身交易的抵押品。

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虽然现在很辛苦,但努力过的感觉真的很好,加油!

李坏_品职助教 · 2024年08月07日

嗨,爱思考的PZer你好:


C选项意思是,银行现在手里的抵押资产不够用了,在面对增加的负债压力时(一般指的是银行遇到了margin call,追加保证金通知),为了避免违约,银行需要去市场上获取额外的资产来充当抵押品。

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虽然现在很辛苦,但努力过的感觉真的很好,加油!

Jo · 2024年08月08日

我想用个例子来看看我的理解是否有误,请问银行拉存款进来算事一种“去市场上获取额外的资产”的行为么?我明白存款在balance sheet是属于负债那一边,但是它其实也增加了available assets对吧?

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