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Banks face losses from three sources: their own position if short or long in a particular currency ; dealing positions taken by
Banks face losses from three sources: their own position if short or long in a particular currency ; dealing positions taken by
admin
2013-12-25
59
问题
Banks face losses from three sources: their own position if short or long in a particular currency ; dealing positions taken by employees who gamble with the bank ’ s money; and defaults by counter-parties to forward exchange contracts and covering transactions. These risks were well illustrated by events in 1974 : Bankhaus Herstatt, cologne, collapsed due largely to losses on its foreign exchange exposures; Lloyds Bank, Lugano, lost USD77 million due to unauthorised trading by staff. Herstatt’ s closure by the Bundesbank during working hours left many banks with unfulfilled foreign exchange transactions. Since then banks and authorities have tightened their control. Banks still take a position on foreign currencies and put traders on commission to speculate on their behalf, but mainly on within-day trading or on overnight positions. On longer-term positions banks aim to match liabilities and claims in a particular currency or cover the difference in the swap market.
Banks face losses from three sources; their own position; dealing positions taken by employees, and defaults by counter parties to forward exchange contracts and covering transactions.
选项
A、Right
B、Wrong
C、Doesn’t say
答案
A
解析
从文中第一句话Banks face losses from three sources…可以直接找到。
转载请注明原文地址:https://kaotiyun.com/show/1Lid777K
本试题收录于:
FECT综合(现代金融业务)题库金融英语(FECT)分类
0
FECT综合(现代金融业务)
金融英语(FECT)
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