问题如下:
A US company needs 100 million Australian dollars (A$) for one year for its Australian subsidiary, the company enters into a one-year currency swap with an Australian company,which of the following statements is correct?
Statement 1: If USD apreciate relative to Australian dollars, the credit risk of the US company increases.
Statement 2: If USD depreciate relative to Australian dollars, the credit risk of the Australian company increases.
选项:
A.Statement 1 only.
B.Statement 2 only.
C.Neither statement 1 nor statement 2.
D.Both statement 1 and 2.
解释:
D is correct.
考点:货币互换
解析:
期初美国公司支出美元,收到Australian dollars,期中和期末美国公司支付Australian dollars,收美元;如果美元升值,对美国公司有利,美国公司面临的对方违约的信用风险加大;
相反,期初澳大利亚公司收到美元,支出Australian dollars,期中和期末澳大利亚公司支付美元, 收Australian dollars;如果美元贬值,对澳大利亚公司有利,澳大利亚公司面临的对方违约的信用风险加大;
两个说法都正确。
这答案跟解释也太扯了,credit risk of US company increases意思明明就是US公司的信用风险增大啊,US公司信用风险增大难道不因为它自己有违约可能性?!难道信用评级的时候也根据合作公司的违约风险给自己公司评级???这是garp提供的题目跟答案么?