15. Suppose that a U.S. FI has the

15. Suppose that a U.S. FI has the following assets and liabilities:

Assets Liabilities
$100 million $200 million
U.S. loans (one year) U.S. CDs (one year)
in dollars in dollars
$100 million equivalent
U.K. loans (one year)
(loans made in pounds)

The promised one-year U.S. CD rate is 5 percent, to be paid in dollars at the end of the year; the one-year, default risk–free loans in the United States are yielding 6 percent; and default risk–free one-year loans are yielding 12 percent in the United Kingdom. The exchange rate of dollars for pounds at the beginning of the year is $1.6/£1.

a. Calculate the dollar proceeds from the UK investment at the end of the year, the return on the FI’s investment portfolio, and the net interest margin for the FI if the spot foreign exchange rate has not changed over the year.

At the beginning of the year, the FI sells $100 million for pounds on the spot currency markets at an exchange rate of $1.60 to £ => $100 million/1.60 = £62.5 million.

At the end of the year, pound revenue from these loans will be £62.5(1.12) = £70 million.

Then the dollar proceeds from the U.K. investment are:
£70 million x $1.60/£1 = $112 million or as a return
$112 million - $100 million = 12.00%
$100 million

Given this, the weighted return on the FI’s portfolio of investments would be:
(0.5)(0.06) + (0.5)(0.12) = 0.09, or 9%

This exceeds the cost of the FI’s CDs by 4 percent (9% - 5%).

b. Calculate the dollar proceeds from the UK investment at the end of the year, the return on the FI’s investment portfolio, and the net interest margin for the FI if the spot foreign exchange rate falls to $1.45/£1 over the year.

At the end of the year, pound revenue from these loans will be £62.5(1.12) = £70 million.

Kết quả (Croatia) 1:

15. Pretpostavimo da je u SAD-FI ima sljedeću imovinu i obveze: Imovina Obveze 100 milijuna $ 200 milijuna dolara u SAD-krediti (jedna godina) u SAD-CD (jedna godina) u dolarima u dolarima $ 100 milijuna ekvivalent uk krediti (jedna godina) (kredite kojima su u funtama ) Obećani jednogodišnji US CD stopa je 5 posto, koja se plaća u dolarima na kraju godine; jednogodišnja, zadane bez rizika kredita u SAD-u se daje 6 posto; i rizik neplaćanja bez jednogodišnji krediti čime se dobije 12 posto u Velikoj Britaniji. Tečaj dolara za funti na početku godine je 1,6 $ / £ 1. A. Izračunajte dolara prihoda iz Velike Britanije ulaganja na kraju godine, povrat na fi je investicijski portfelj, a neto kamatna marža za FI, ako je spot devizni tečaj nije promijenilo u odnosu na godinu dana. Na početku godine , FI prodaje 100 milijuna $ za funti na tržištima točka valuti po tečaju od 1,60 $ do £ => 100 milijuna $ / 1,60 = 62,5 milijuna £. na kraju godine, funta prihod od tih kredita će biti £ 62,5 (1,12 .) = 70 milijuna £ Zatim dolar prihod od UK ulaganja su: £ 70 milijuna x 1,60 $ / £ 1 = $ 112 milijuna, ili kao povratak 112 milijuna $ - $ 100 milijuna = 12,00% 100.000.000 $ s obzirom na to, s ponderiranim povrata na FI-a portfelj ulaganja će biti: (0.5) (0.06) + (0,5) (0,12) = 0,09, odnosno 9% Ovo premašuje trošak fi-a CD za 4 posto (9% - 5%). b. Izračunajte dolara prihoda iz Velike Britanije ulaganja na kraju godine, prinos na fi je investicijski portfelj, a neto kamatna marža za FI, ako je spot devizni tečaj padne na 1.45 $ / £ 1 tijekom cijele godine. Na kraju godine, funta prihod od tih kredita će biti £ 62,5 (1,12) = 70 milijuna £.