国际支付及结算chapter 2

1、Chapter 2Introduction to International Payments and Settlements国际支付与结算概述国际支付与结算概述Chapter 2 Introduction2.1 Definitionfinancial activities conducted among different countries in which payments are effected or funds are transferred from one country to another in order to settle account, debts, claims,

2、 etc., emerged in the course of political, economic or cultural contacts among them.Chapter 2 IntroductionThey are money transfers as a result of international clearing, such as:(1)Visible trade; (2)Invisible trade; (3)Financial transaction; (4)Payments between governments; (5)Others.Chapter 2 Intro

3、ductionThe special implication of international payment and settlement practicenInternational trade settlement - the role of banksnInternational non-trade settlementChapter 2 Introduction2.2 Evolution1. From cash settlement to non-cash settlement2. From direct payment made between international trad

4、ers to payment effected trough a financial intermediary3. From payments under simple price terms to payments under more complex price terms4. Internet era13 century A.D.InstrumentsBill of exchangePromissory NoteCheque/checkNon-Cash Settlement非现金结算非现金结算Exchange for GBP1,250.00 Beijing,1 April,2003At

5、sight pay to the order of DEF Co.the sum of Pounds one thousand two hundred and fifty onlyTo XYZ Bank, For ABC Co., Beijing London (signature) End of 18 centuryExpensiveRiskyTurnover of funds slowForeign exchange bankChapter 2 Introduction（1）From cash settlement to non-cash settlementBill of exchang

6、eForeign exchange bank13 century A.D.end of 18 century A.D.Foreign exchange marketChapter 2 Introduction（2）From direct payment made between international traders to payment effected through a financial intermediary With the worldwide banking network and modern banking technicality, banks can not onl

7、y provide easy and quick transfer of funds needed for conducting international trade but also furnish their customers with valuable economic and credit information. Chapter 2 Introduction（3）From payments under simple price terms to payments under more complex price termsIn the past, international tr

8、ade payments were settled on very simple price terms, such as cash on delivery, cash on shipment, cash with order, cash before shipment, etc. In modern international trade, a more comprehensive and exact set of terms has been developed.Chapter 2 Introduction（4）Internet eraWith the development of com

9、puter technology, business is done and payments and settlements are effected by means of all kinds of payment systems, which makes it quicker and safer and more convenient for both the Buyer and Seller. Nowadays, Internet is developing very fast. This new type of business transaction is called net b

10、anking. Although there are a lot of problems to be solved，net banking is very promising. Chapter 2 IntroductionChapter 2 Introduction2.3 Characteristics of Modern International Payments and SettlementsnVarious instruments are widely usednBanks become the center of international settlementsnVehicle c

11、urrencies are more diversified than beforenElectronic devices are widely usednInternational lending is often combined with international paymentsChapter 2 IntroductionSWIFT： Society for Worldwide Interbank Financial Telecommunications （环球同业银行金融电讯协会）CHIPS：Clearing House Interbank Payment System （纽约清算

12、所银行同业支付系统） CHAPS：the Clearing House Automated Payments System（伦敦自动支付清算系统）FEDWIRE：Federal Reserves Wire Transfer System（联邦资金转账系统）EDI：Electrical data interchange （电子数据交换） P P R R环球银行间金融环球银行间金融电讯协会电讯协会纽约清算所交换银纽约清算所交换银行相互收付系统行相互收付系统伦敦交换银行伦敦交换银行自动收付系统自动收付系统联邦储备联邦储备清算系统清算系统 communication meshwork/networkC

13、hapter 2 IntroductionSWIFT:The Society For Worldwide Inter-bank Financial Telecommunications(环球环球银行间金融电讯协会银行间金融电讯协会) 19731973年年5 5月成立月成立, ,总部设在布鲁塞尔。目前，全总部设在布鲁塞尔。目前，全世界已有超过世界已有超过200200个国家的个国家的70007000多个银行在使用多个银行在使用SWIFT SWIFT 。计算机数据通讯网在荷兰和美国设有运。计算机数据通讯网在荷兰和美国设有运行中心，在各会员国设有地区处理站。行中心，在各会员国设有地区处理站。 2002

14、2002年，年，SWIFTSWIFT报文承载量达报文承载量达8 8亿，日均亿，日均7 7百万条百万条，金额超过，金额超过6 6万亿欧元。万亿欧元。 中国是中国是SWIFTSWIFT会员国。中国银行作为中国的外汇会员国。中国银行作为中国的外汇外贸专业银行于外贸专业银行于19831983年年2 2月加入月加入SWIFTSWIFT，成为中国，成为中国第一家会员银行，第一家会员银行，19851985年年5 5月月1313日，中国银行正式日，中国银行正式开通开通SWIFTSWIFT。 2020世纪世纪9090年代开始，中国所有可以办理国际金融年代开始，中国所有可以办理国际金融业务的国有商业银行、外资和侨

15、资银行以及地方业务的国有商业银行、外资和侨资银行以及地方银行纷纷加入银行纷纷加入SWIFTSWIFT。 19961996年中国年中国SWIFTSWIFT发报增长率为发报增长率为42.2%42.2%，在，在SWIFTSWIFT全球增长率排名第一，中国银行在全球增长率排名第一，中国银行在SWIFTSWIFT前前4040家大家大用户中排名用户中排名3434位。位。 中国银行每日中国银行每日SWIFTSWIFT发报量达发报量达3 3万多笔，采用万多笔，采用SWIFTSWIFT方式进行收发电报已占到全行电讯总收付量方式进行收发电报已占到全行电讯总收付量的的90%90%。SWIFTSWIFT网络是国际结算

16、、收付清算、外汇资金买卖网络是国际结算、收付清算、外汇资金买卖、国际汇兑等各种业务系统的通讯主渠道，部分、国际汇兑等各种业务系统的通讯主渠道，部分业务实现了自动化处理。业务实现了自动化处理。chaining(SWIFT study):chaining(SWIFT study):http:/ 1.SWIFT needs member qualification. 2.SWIFTs charge is low. Its about 18% of that used by telex, and 2.5% of that used by cable.3.SWIFT is safer. (SWIFT a

17、uthenticate key)4.SWIFT has standard uniform format.Bank Identified codeBank of ChinaBKCH CN BJThe Industrial and Commercial Bank of ChinaICBK CN BJThe Agricultural Bank of ChinaABOC CN BJThe Investment Bank of ChinaIBOC ON BJThe Communication Bank of ChinaCOMM CN BJChina Construction BankPCBC CN BJ

18、The Peoples Bank of ChinaPBOC CN BJChina Citic BankCIBK CN BJAmerica Bank , Shanghai BranchBOFX CN SXHongKong and Shanghai Banking Corporation, Ltd. HSBC CN SX加入加入SWIFTSWIFT的中国境内银行的中国境内银行 19701970年年4 4月成立月成立, ,国际美元支付系统。它是一个国际美元支付系统。它是一个著名的私营跨国大额美元支付系统，是跨国美元著名的私营跨国大额美元支付系统，是跨国美元交易的主要结算渠道。交易的主要结算渠道。 通

19、过通过CHIPSCHIPS处理的美元交易额约占全球美元总交处理的美元交易额约占全球美元总交易额的易额的95%95%。 CHIPSCHIPS成员有纽约清算所协会会员、纽约市商业成员有纽约清算所协会会员、纽约市商业银行、外国银行在纽约的分支机构等。银行、外国银行在纽约的分支机构等。 CHIPSCHIPS是一个净额支付清算系统，它租用了高速是一个净额支付清算系统，它租用了高速传输线路，有一个主处理中心和一个备份处理中传输线路，有一个主处理中心和一个备份处理中心。每日营业终止后，进行收付差额清算，每日心。每日营业终止后，进行收付差额清算，每日下午六时（纽约时间）完成资金转账。下午六时（纽约时间）完成资

20、金转账。CHIPS:Clearing House Interbank Payments System.（跨国美元支付系统）（跨国美元支付系统）CHAPS: Clearing House AutomatedPayment System 英国大额英镑清算系统。在英国大额英镑清算系统。在CHAPSCHAPS下，下，1212家交换家交换银行成为结算银行，由八条信息通道把它们和该银行成为结算银行，由八条信息通道把它们和该系统的一个信息转换中心连接起来。系统的一个信息转换中心连接起来。 CHAPS用于英镑资金交换的当日用于英镑资金交换的当日 结算结算,主要由英主要由英国大型清算银行和英格兰银行使用。国大型

21、清算银行和英格兰银行使用。 它归美联储所有，它归美联储所有，19131913年建立，年建立，FEDWIREFEDWIRE将全将全美划分为美划分为1212个联邦储备区、个联邦储备区、2525个分行和个分行和1111个专门个专门的支付处理中心，主要用于金融机构之间的隔夜的支付处理中心，主要用于金融机构之间的隔夜拆借、行间清算、公司之间的大额交易结算，美拆借、行间清算、公司之间的大额交易结算，美国政府与国际组织的记账债券转移业务等等。国政府与国际组织的记账债券转移业务等等。 由于该系统有专用的实现资金转移的电码通讯由于该系统有专用的实现资金转移的电码通讯网络，权威性、安全性较高。此外它还承担着美网络

22、，权威性、安全性较高。此外它还承担着美联储货币政策操作及政府债券买卖的重要任务。联储货币政策操作及政府债券买卖的重要任务。 它每日运行它每日运行1818个小时，每笔大额的资金转账从个小时，每笔大额的资金转账从发起、处理到完成，运行全部自动化。发起、处理到完成，运行全部自动化。FEDWIRE: Federal Reserves Wire Transfer System（全美境内美元支付系统）全美境内美元支付系统）Bank relationships in international Settlements (1)Sisters Bank/overseas branch海外分海外分行行(2)Rep

23、resentative Bank (Correspondent)代理行代理行 (3)Accounting Bank账户行账户行 Chapter 2 IntroductionThe Worldwide Network of Banks1、 Representative Office(代表处代表处)2、 Agency Office(代理处代理处)3、 Overseas Sister Bank/Branch, Sub branch(海海外分、支行外分、支行(境外联行境外联行)4、 Correspondent Banks(代理银行代理银行)5、 Subsidiary Banks(附属银行附属银行(子银

24、行子银行) 6、 Affiliated Banks(联营银行联营银行) 7、 Consortium Bank(银团银行银团银行) Chapter 2 IntroductionChapter 2 Introduction2.5 Correspondent Banking Relationship1. Definition of correspondent bank: a bank having direct connection or friendly service relations with another bankCorrespondent Banking is an arrangeme

25、nt under which one bank (correspondent) holds deposits owned by other banks (respondents) and provides payment and other services to those respondent banks.In a sense, banks themselves are the best customers for each other. The bank may open deposit accounts with, and entrust business to each other

26、on a reciprocal basis.Chapter 2 IntroductionWhen selecting a bank as a correspondent bank, what factors should be taken into account?The reputation of the bank; Size of the bank; Location of the bank; Services offered by the bank; Fundamental policies and strength of the bank; Physical features and

27、personnel; Momentum of early start, etc.Chapter 2 IntroductionChapter 2 Introduction2. Control documentsnLists of specimen of authorized signatures是银行列示的所有有权签字的人的有权签字额度、签字范围、有效签字组合方式以及亲笔签字字样。代理行可凭其核对对方银行发来的电报、电传等的真实性。nTelegraphic test keys是两家代理行之间事先约定的专用押码，在发送电报时，由发送电报的银行在电文前面加注，经接受电报的银行核对相符，用以确认电报的

28、真实性。nTerms and conditionsnSWIFT authentic keyChapter 2 Introduction3. Inter-bank accountsA current account or a checking account may be opened between banks with the establishment of a correspondent banking relationship. Any bank before opening an account in its correspondent bank, must be aware of

29、the detailed conditions of this connection, such as amount of initial deposit, minimum credit balance for covering the cost of services provided, interest rate of the account, overdraft permission, and how often the statement of account is sent. Nostro account往账往账The Italian word “Nostro” means “our

30、”. Nostro account is the foreign currency account(due from account)of a major bank with the foreign banks abroad to facilitate international payments and settlements.我行在它行开立的存款账户我行在它行开立的存款账户Vostro account来账来账The Italian word “Vostro” means “your”. Vostro account is an account(due to account)held by

31、a bank on behalf of a correspondent bank它行在我行开立的存款账它行在我行开立的存款账户户Chapter 2 IntroductionNostro account: is the foreign currency account (due from account) of a major bank with the foreign banks abroad to facilitate international settlements.From the point of Bank of China, a nostro account is our banks account in the books of an overseas bank, den