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Fractal · 2021年10月26日

麻烦再讲解一下PCS

NO.PZ2020042003000042

问题如下:

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

选项:

A.

Outgoing wire transfers is thelargest use of intraday liquidity

B.

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

C.

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

D.

On any given day, the nostro accountfunding position may act as a source or use of funds to the bank's overallliquidity 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 onesettlement 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 offunds depending on the net position of a participant on any given day.

不好意思有些忘记了,pcs为什么没有只有一次结算啊。可以再讲下这个知识点吗?

1 个答案

DD仔_品职助教 · 2021年10月26日

嗨,从没放弃的小努力你好:


PCS就是一天只结算一次,他是净额交割,就像打麻将一样,打一天会有很多局,每一局结束了先不交割,只记账,等到一天都打完了,计算净额,看看打了这么多局到底最后算下来是个啥样,再进行交割。到底是需要钱付给别人,还是别人会付钱给我不一定,得看最后算下来的净额结果。

这样一天一次,净额交割的好处是,避免时时刻刻都有现金流的流入流出,对现金流的需求会更小一些。

具体在我们基础班讲义150页,同学可以再看看文字描述,结合起来理解一下

----------------------------------------------
努力的时光都是限量版,加油!

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