【正文】 國(guó)際結(jié)算理論與實(shí)務(wù) （ Theories and Practices of International Settlements ） 主講人： 李穎 山東大學(xué)經(jīng)濟(jì)學(xué)院金融系 聯(lián)系方式： ? Reference books ?《 國(guó)際結(jié)算 》 第四版，蘇宗祥， 2021，中國(guó)金融出版社； ?《 國(guó)際結(jié)算 》 ，秦定， 2021，清華大學(xué)出版社； ? 《 國(guó)際結(jié)算：理論 實(shí)務(wù) 案例 》 ，蔣琴， 2021，清華大學(xué)出版社。 Examination Exercises in class （ 20%） Final tests In English（ 80%） International Settlement Overview Chapter1: Introduction On Fundamentals In International Settlements Chapter2: Banks’ Clearing System In international Settlements International Settlement Core part Chapter3: Financial Instruments used in International Settlements Chapter4: Mercantile documents used In International Settlements Chapter5: International Settlement Methods International Settlement extension Chapter6: L/G and Standby L/C Chapter7: Financing methods In International Settlements. Chapter8: Bank Letters in International Settlement Chapter 1 Introduction on Fundamentals in International Settlements ? Definition ? International payments or international 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, etc., emerged in the course of political, economic or cultural contacts among them. spot payment—— payment between different cities—— international payment. International Settlement contents International trade： visible trade and invisible trade Financial transactions Payment between governments International Settlement Objectives Characteristics of evolution: ? cash settlement to transfer settlement and transaction of documents。 ? Banks became the center in the international settlement at the end of 18th century。 ? From payments under simple price terms to payments under more plex price terms。 safe quick convenient Chapter 1 Introductions on Fundamentals in International Settlements ? puterization SFNB,1996, USA。 Entrium Direct Bankers,1990,1998 International Settlement Communication means Mail: Letter, registered letter, express delivery letter Cable or Telex Network: SWIFT Chapter 1 Introductions on Fundamentals in International Settlements ? SWIFT: society for worldwide interbank financial telemunications, a puterized international telemunications system that, through standardized formatted messages, rapidly processes and transmits financial transactions and information among its members around the world. Chapter 1 Introductions on Fundamentals in International Settlements ? Services provided by SWIFT: – FIN (Financial Application) – IFT (Interbank File Transfer) ? Procedures of message flow: – An appropriate SWIFT message type is selected, prepared, addressed and released by the sender to the SWIFT work via the bank’s SWIFT interface。 – The message is then sent to the sender’s local SWIFT Regional Processor。 Chapter 1 Introductions on Fundamentals in International Settlements – The input Regional Processor forwards the SWIFT message to a Slice Processor。 – If the message is properly formatted, it is sent to the Receiver’s local SWIFT Regional Processor。 – The output Regional Processor then sends the message to the receiver. Chapter 1 Introductions on Fundamentals in International Settlements ? Types of messages: 10 types ? Characteristics of SWIFT: – Quick and cheap。 – Secure and reliable。 – Standardized forms. ? Signatures Credit instruments Mercantile documents Chapter 1 Introductions on Fundamentals in International Settlements ?Classification of settlement methods ?基于商業(yè)信用的結(jié)算 （ Settlement on mercial credit） —— 匯款（ Remittance） ，對(duì)應(yīng)著預(yù)付貨款（ payment in advance）和賒銷（ open account， O/A） ； 托收 （ Collection ） ?基于銀行信用的結(jié)算 （ Settlement on bank credit） —— 信用證 （ letter of credit，L/C ） ； 銀行保函 （ bank guarantee ） Chapter 1 Introductions on Fundamentals in International Settlements ? payment in advance: provides greatest security for the seller and greatest risk for the buyer。 requires that the buyer have a high level of confidence in the ability and willingness of the seller to deliver the goods as ordered. ? open account, O/A， provides the least risk for the buyer and the greatest risk for the seller. Chapter 2 Banks’ Clearing System In International Settlements ? 1. Reasons for the establishment of banks’ clearing system ? objective reasons ? subjective reasons ? 2. ponents ? (1) global business web system ? branches ? correspondent bank: a bank having direct connection or friendly service relations with another bank. Chapter 2 Banks’ Clearing System In International Settlements Bank letter： a sample Agency agreements: a sample control documents: Ⅰ lists of specimen of authorized signatures: for authentication of the messages, letters, remittances, letters of credit, etc. Ⅱ telegraphic test keys: code arrangements that enable the banks to receive cables from other banks to verify the authenticity of cables or telexes. Ⅲ SWIFT authentic key: for authenticating messages transmitted through SWIFT。 Ⅳ terms and conditions. Chapter 2 Banks’ Clearing System In International Settlements Services provided by correspondents: Collecting checks, drafts, and other credit instruments。 Making loan or investments as agents for their customer banks。 Making credit investigation of firms that borrow in the open market。