country. (F)
2) Fund transfers are processed and settled through certain clearing systems.(T)
3) Using the SWIFT network, banks can communicate with both customers and colleagues in a
structured, secure, and timely manner.(T) 4) SWIFT can achieve same day transfer.(T) 4.Multiple Choice 1) SWIFT is __B__ A. in the united states
B. a kind of communications belonging
to TT system for interbank’s fund transfer
C. an institution of the United Nations D. a governmental organization
2) SWIFT is an organization based in __A___ A. Brussels B. New York
C. London D. Hong Kong
3) A facility in fund arrangement for buyers
or sellers is referred to __A___ A. trade finance
B. sale contract C. letter of credit D. bill of exchange
4) Fund transfers are processed and settled
through __C___ A. banks
B. SWIFT
C. clearing system
D. telecommunication systems
5) __C__is the reason why international
trade first began.
A. Uneven distribution of resources B. Patterns of demand C. Economic benefits
D. Comparative advantages
5. Answer the following questions
1) Where are the medium of exchange originated from?
Tracing back the history of international settlement, the medium of exchange originated from coins to notes. 2) What will inevitably lead to under the international political, economic and cultural
exchanges? The international political, economic and cultural exchange inevitably leads to credits and debts owed by one country to another.
3) Why do banks focus on the development of the businesses of international settlement?
Banks focus more and more on the development of the businesses because it is a major resource of profits.
4) What will banks do to meet the higher and higher demand of the international market?
Banks need to develop innovative products and deliver the best services possible in whatever way they can. Chapter 2
1.Put the following phrases into English 资金转移 清算系统 银行竞争 可兑换货币 国际支付 fund transfer clearing system banking competition convertible currency international payment 2.Put the following sentences into English (1) 用于国际结算的货币是可兑换的货币。 13
Currencies used in the international settlement are convertible currencies. (2) 每一个通信和支付系统都有自己的使用规则。
Each communication and payment system has its own rules. (3) 有五种美元清算的方式。
There are five US dollar fund transfer payment methods. (4) 欧元是欧盟国家使用的货币。
Euro is the single currency of the European Union.
(5) 香港作为国际金融中心必须遵循国际惯例。
As an international financial center, Hong Kong must follow international payment practice. 3. True or False
1) CHIPS payments are irrevocable and subject to a same-day net settlement process.(T) 2) Book transfers are payment made between parties that maintain accounts at the different bank.(F)
3) In Japan, cash is not far more often used than checks for payment at the retail level.(F) 4) Not later than July 2002, the Euro will replace the national currencies in all public and
private transactions. 4.Multiple Choice
1) The following are the special problems
for international trade except for __C__ A. using foreign languages and foreign
currencies B. under foreign laws, customs and
regulations C. having risks
D. numerous cultural differences 2) All the parties to a collection are bound
by ___C___ A. UCP400 B. UCP500 C. UCR522
D. URC254
3) An additional risk borne by the seller
when granting a credit to the buyer is that the latter will not __D___ A. accept the bill
B. take up the documents C. take delivery
5. Answer the following questions
1) How will fund transfers be processed and settled?
Fund transfers are processed and settled through certain clearing systems. 2) What is FedWire?
FedWire is an electronic payment system operated by the U.S. Federal Reserve. It si used to make US dollar payments to banks and their customers throughout the United States. 3) When will the euro start to use?
D. make payment at maturity
4) To the exporter, the fastest and safest
method of settlement is __B__ A. letter of credit
B. advance payment C. collection D. banker’s draft
5) To the importer, the fastest and safest
method of settlement is __C_ A. letter of credit B. cash in advance C. open account D. banker’s draft
6) Which is the real international payment
system? __A__ A. TARGET B. FedWire C. CHAPS D. SWIFT
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From January 1,1999, Euro is the single currency of the European Union. 4) What is the strongest of SWIFT?
The strongest feature of SWIFT is message text standards. Chapter 3
1. Put the following phrases into English 总资产 缺乏经验 全球策略 专业服务 财务报表
2.Put the following sentences into English
(1) 两家银行建立代理行关系的原则是基于双方的互惠互利。
The overall principle to establish correspondent banking relationship between two banks is on the basis of mutual benefits.
(2) 一家银行对其所在国金融系统的重要性是对该银行进行评级的重要因素。
The importance of a bank to its country’s financial system is a major factor in the rating process.
(3) 穆迪和标准普尔在对银行进行评级时有许多相似之处。
Moody and Standard & Poor’s (“S&P”) share many similarities in rating banks. (4) 许多著名的大银行是根据一定的程序来向代理行提供信用额度。
The credit line for a correspondent is worked out according to certain procedures in many sizeable and well-know banks.
(5) 银行不仅可从贸易融资中获利，而且还可以介入金融活动之中。
Not only banks can gain from trade finance, they can also engage in those financial activities. 3.True or False
1) Risk management strategies should be taken into consideration when rating correspondent
banks.(T)
2) A world wide computer network for monitoring the line is maintained by many banks.(T) 3) A bank should introduce or modify those products in order to have those products to be marketed in its banking operation.(T)
4) Some correspondents will not extend credit facilities to the bank with nostro account and
offer a preferential account, so that conducting business will become more convenient and easier.(T) 4. Multiple Choice
1) From the point of view of a Chinese bank,
__B__ is our bank’s account in the book
of an overseas bank, denominated in foreign currency. A. a vostro account B. a nostro account
C. a mirrio account D. a record account
2) A bank gets to know its exact position of
total assets lack of expertise global strategy professional service financial statement funds by __A___ A. reflecting the credit balance B. examining the mirror account C. consulting a foreign bank D. checking the nostro account 3) Statements of balance of international payment don’t include __D__ A. current account B. capital account C. balancing account 15
D. visible account
4) __A__ refers to an exchange of services
or assets between countries. A. Invisible trade B. Visible trade
C. International trade D. Balance of trade
5.Answer the following questions
1) How will ratio of earning be divided?
5) Each country has to earn __B__ to pay
for imports. A. money
B. foreign exchange C. cash D. currency
Ratios of earning can be divided into ratio of capital return (Earning/ Total Capital, ROE) and ratio of asset return (Earning/ Total Capital, ROE) .
2) Why do banks develop the correspondent relationship with foreign banks?
For the purpose of rendering best service to the banks’ clients, it is essential for the banks to develop direct correspondent relationship with foreign banks and offer more diversified banking services, thereby playing an increasingly prominent role in promoting and regulating the growth of the national economy.
3) What do American banks and European banks usually do in their financial activities?
American banks are active in marketing their products and services in the field of fund clearing, Trade finance has always been the main subject of correspondent banking operations by many European banks for quite a long time. 4) What should the correspondent files be?
The correspondent files should be concise, but complete, and updated. Chapter 4
1. Put the following phrases into English 大小写金额 无条件的书面支付命令 远期汇票 跟单汇票 无条件的支付承诺 流通工具 amount in words and figures unconditional order of payment in writing term bill documentary draft unconditional promise of payment negotiable instrument 2.Put the following sentences into English
1) 由于这张信用卡的持卡人不讲信用，发卡银行将取消该卡。
The issuing bank of this credit will cancel the holders card because of his poor credit
standing.
2) 旅行支票易于在国外银行、旅店、商店、机场等兑现。
Traveler’s checks are easily encashabkes, hotels, ships and airports abroad.
3) 汇票和本票的定义有一些相似之处。
There are some similarities between the definition of a bill of exchange and a promissory
note.
4) Please draw a sight draft on Mr. Smith for US dollars 2000. 2. True or False
1) In check transaction, the drawer and the payer are the same person.(T) 2) A check is a demand bank draft.(T)
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