国际金融chapterten金融市场祥解.ppt

4.受管制程度的差别：前者受市场所在国的金融法规的管制；而后者的借贷活动是不受任何国家金融法规的管制。 5.形成基础的差别：前者的形成以所在国强大的经济实力和巨额的资金积累为基础；而后者主要依赖所在国优惠、宽松的金融政策为基础.? Derivative market 金融衍生工具市场 Thank you，see you next week！ * * 对外的延伸 分别解释 重点介绍资本市场 * 、泰国、马来西亚 * * The international financial market Key terms 国际金融市场 The international financial market 资本市场 capital market 货币市场 monetary market 欧洲货币Euro currency 欧洲银行Euro bank 欧洲美元Euro dollar 离岸市场 offshore market 在岸市场onshore market branches of Citibank in Brazil, and branches of Britains National Westminster Bank in New York. by the early 1980s, it had become routine for a branch of an American bank located in London to accept a deposit denominated in Japanese yen from a Swedish corporation, or to lend Swiss francs to a Dutch manufacturer. 可以在巴西的圣保罗找到花旗银行的分支机构，在纽约找到英国国民威斯敏斯赫银行的分支机构。 一个伦敦的美国银行的分行可以接受一笔来自瑞典公司的日元存款，或是把瑞士法郎借个一个荷兰制造商 International financial market Definition of international financial market a group of markets trade different types of financial assets finance resident resident non-resident non-resident Home market Onshore market Offshore market International financial market Monetary market-货币市场 Capital market-资本市场 Foreign exchange market-外汇市场 International gold market-黄金市场 financial derivatives market-金融衍生品市场 Offshore/External Market 离岸市场 欧洲货币市场 The participants Commercial banks （商业银行）: accept deposits lend to commercial businesses, other banks, governments, and/or individuals buy and sell bonds and other assets Some commercial banks underwrite（承销） new stocks and bonds by agreeing to find buyers for those assets at a specified price. Non-bank financial institutions （非银行金融机构） : securities firms, pension funds, insurance companies, mutual funds Private firms（公司）