第二章国际结算讲述.ppt

Chapter 2 introduction to International settlement Out line .the concept and evolution of international settlement. . Correspondent banking relationship . Inter-bank accounts 2.1 definition of International settlement International payments and settlements are financial activities conducted among different countries in which payments are effected or funds are transferred from one country to another in order to settle accounts ,debts, claims, etc, emerged in the course of political, economic or cultural contracts among them. 2.2 evolution of international settlement 2.2.1 From cash settlement to non-cash settlement 1.Cash settlement Before the sixth century B.C., goods were exchanged between traders in different countries on a barter basis. It is very inconvenient. At the beginning of the fifth century B.C., the medium of exchange was created in the form of coins ,ending the barter transaction. These coins were measured and exchanged by weight and fineness among trading countries for settling international payment. This direct transfer of precious metals is called a cash settlement. 2.non-cash settlement the shipment of gold or silver across national boundaries was both expensive and risky. Freight costs were high, the risk of being lost, stolen or robbed was omnipresent(无所不在的) and the speed of transferring funds depended on the speed of transportation facilities, which often slowed the turnover of funds. From the 13 century A.D., bill of exchange were created ,gradually taking the place of coins in international payments and the bill of exchange market began to develop. With the establishment of foreign exchange banks at the end of the 18century, international payments could be settled by way of transferring funds through the accounts opened in these banks. From then on, the non-cash settlement era began. 2.2.2 from direct payment made between international traders to payment effected through a financial intermediary Initially international trade payment wer