企业财务新难题巴塞尔协议III.doc

企业财务新难题巴塞尔协议IIIBasel III’s Impact on Corporate Treasury 来源：天和网 核心提示：巴塞尔协议III对银行业的监管将进而影响到银行的客户--企业，而且其影响不可能是积极的。 There’s little question, the goings-on taking place in Basel, Switzerland, over the summer and last month, culminating in what’s often referred to as the Basel III Accord, will significantly impact financial institutions. What about corporate treasurers? To find out, I talked with Tony Carfang, partner and director with Chicago-based Treasury Strategies. His take: The regulations that come down on banks will flow through to the banks’ customers. Moreover, the impact likely won’t be positive, Carfang notes. 毫无疑问，今年夏天和上个月在瑞士巴塞尔所发生的事情, 通常被称为巴塞尔协议III，将显著地影响金融机构。这对企业财务主管有什么影响呢？为了找到答案，我与位于芝加哥的Treasury Strategies合伙人和主管托尼?卡凡进行了谈话。他的看法是：该协议对银行的监管将进而影响银行的客户。此外，卡凡解释说，影响不可能是积极的。 Among other changes, the agreement reached by the Basel Committee on Banking Supervision, as outlined here, would boost the minimum requirement for common equity held by banks from 2 to 4.5 percent by 2015. The Tier 1 capital requirement would jump from 4 to 6 percent over the same period. 在其他的变化中，正如这里列出的，由巴塞尔银行监管委员会达成的协议将在2015年将银行持有的普通股从2%推高至4.5%。对一级资本的要求会于同期从4％暴增至6％。 Along with requiring banks to hold more capital, the Basel Committee also is taking a closer look at the makeup of their capital. To reduce the risk that banks might run short of cash in the event of widespread panic and a run on deposits, the Committee has developed what it’s calling a net stable funding,Carfang says. This is an attempt to judge the stability of different types of deposits. Retail deposits typically are considered fairly stable, since few consumers move their money in and out of banks to gain a few basis points of interest – it’s just not worth it, given the work involved. Corporate customers, on the other hand, will. 随着要求银行持有更多的资本，巴塞尔委员会也正在仔细审查银行的资本构成。卡凡说，为了减少风险，银行在普遍的恐慌和存款挤兑的情况下遭遇现金短缺，该委员会已开发出了称之为净稳定融资的东西。这是一种判断不同类型存款的稳定性的尝试性举动。小额零星存款通常被认为是相当稳定的，因为很少有消费者为了获得了几个基点的利息把他们钱存进银行又取出- 因为涉及到手续，不值得这么做。另一方面，