ACCA考試基本對(duì)沖方法Matching要掌握哪些知識(shí)點(diǎn)?

備考ACCA考試的時(shí)候,學(xué)員要對(duì)知識(shí)點(diǎn)有更多的了解。ACCA考試對(duì)學(xué)員來(lái)說(shuō),并非是簡(jiǎn)單的內(nèi)容學(xué)習(xí),更多的是對(duì)知識(shí)點(diǎn)的理解并運(yùn)用。今天融躍小編給大家分享,ACCA考試基本對(duì)沖方法Matching要掌握哪些知識(shí)點(diǎn)?

acca考試

基本對(duì)沖方法Matching是ACCA學(xué)員需要掌握的內(nèi)容,這種方法要求企業(yè)以相同的利率同時(shí)擁有資產(chǎn)和負(fù)債。兩者越接近越好。

例如,假設(shè)利率的存款利率為倫敦銀行同業(yè)拆借利率LIBOR+1%,借款利率為L(zhǎng)IBOR+4%,同時(shí)擁有存款$500,000以及貸款$520,000, 假設(shè)LIBOR當(dāng)前為3%, 那么:


Annual interest paid = $520,000 x (3%+4%) = $36,400

Annual interest received = $500,000 x (3%+1%) = $20,000

Net cost = $16,400

Now assume that LIBOR rises by 2% to 5%.

New interest amounts:

Annual interest paid = $520,000 x (5%+4%) = $46,800

Annual interest received = $500,000 x (5%+1%) = $30,000

Net cost = $16,800

當(dāng)LIBOR上升時(shí),支付的利息增加了,但基本上被增加的存款利息所抵消。額外的差異$400是由于存貸款金額不匹配導(dǎo)致的。

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