Financial Management & Banking Operations: Swaps and Arbitrage
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INTRODUCTION
This training course on Global Banking, Money Markets, FOREX, and Swaps focuses on understanding the contemporary functional roles of global banking and financial intermediation and the short-term money markets, foreign exchange markets, and swap markets. It will examine a wide range of modern-day case examples regarding money transfers and the various products-services that support banking intermediaries.
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COURSE OBJECTIVES
At the end of this training course, you will be able to:
- Review any company’s short-term money-market positions on assets and liabilities
- Analyze the risk exposure of FOREX transactions in both cash and futures positions
- Differentiate M1 M2 M3 and L balances in central bank monetary policy structures
- Explain the process of balancing daily cash flow transactions through financial intermediaries
- Develop a rubric through which to analyze any company’s short-term “returns on money”
- Evaluate the pros and cons of using put and call options on FOREX futures to manage risk
- Explain the key differences between currency swaps and FOREX cash and futures markets
- Determine a workable interest-rate swap strategy for a firm’s short-term liabilities
- Analyze all types of short-term money market securities vs. cash balances and credit terms
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COURSE AUDIENCE
This course is suitable to a wide range of professionals but will greatly benefit:
- Anyone looking to expand their working knowledge about how global monetary policies impact cash flow cycles for both foreign receivables coming in and payables going out
- Anyone looking to improve the financial positioning of corporate/organizational short-term funds management for both global lines of credit and liquid marketable securities
- Senior Operational Executives who want to incorporate cash flow risk mitigation into the business model for all facets of the company’s global operations
- Board Members who want to enhance their fiduciary capacity to manage and mitigate FOREX risk exposure in global partnerships, markets, and transactions
- Business Development executives who want broader valuation impacts for potential commercial opportunities in foreign industries and markets
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COURSE OUTLINE
DAY 1
THE CONTEMPORARY LANDSCAPE OF GLOBAL BANKING
- Central Banks and Variations on Monetary Policies
- SWIFT and Related Electronic Funds Transfers
- Commercial Banking vs. Private Banking Clienteles and Funds Management Policies
- The Intentions and Impacts of Quantitative Easing [QE] on Borrowing and Lending Policies
- Foreign Trade Balances of Payments among Countries and Banking Intermediaries
- The Impact of LIBOR, U.S. Prime, and other Short-term Benchmark Interest Rates
- The Effects of Removing the “Gold Standard” in Backing Currency Valuations
- The Role and Risks Associated with “Offshore Banking” and Non-regulated Transactions
DAY 2
GLOBAL MONEY MARKETS
- Understanding M1 M2 M3 and L
- Bankers’ Acceptances [BAs] and Foreign Trade Credit Letters
- Repurchase Agreements [Repos] and Commercial Paper
- T-Bills and Deriving the Yield Curve: Implications for Global Interest Rates
- Certificates of Deposit and other Short-term Bank Instruments
- Fixed and Variable Bank Lines of Credit
- Global “Money Centers” for Short-term Financial Intermediation
- Cash Flow Management Strategies
DAY 3
FOREIGN EXCHANGE [FOREX] AND GLOBAL CURRENCY VALUATIONS
- Purchasing Power Parity and FOREX Conversion Pricing
- Hedging Currency Risk Exposure with Long and Short Currency Futures Contracts
- The Use of Put and Call Options on Foreign Currency Risk Exposure Mitigation
- The Pound Sterling and Bank of England vs. Euros and European Central Bank Policies
- Country GDP, Interest Rates, and Relative Currency Fluctuations
- Pegged Currencies vs. Free-Market Supply and Demand Currencies
- The Role of Speculators, Hedgers, and Ultimate Long Positions in FOREX Markets
- New “financially engineered” Products and Contractual Cash Flow Structures
DAY 4
THE GLOBAL SWAP MARKETS
- History and Development of the Swap Market for Foreign Currency
- History and Development of the Swap Market for Interest Rate Exchanges
- Portfolio Approaches to Foreign Currency Management
- Fixed-for-Fixed, Fixed-for-Floating, and Floating-for-Floating Interest Rate Swaps
- Nominal Principal and Settlement Valuations
- Bid-Ask Pricing Spreads and Market Efficiency in the Swap Markets
- Minimizing Transaction Costs on Global Financial Intermediation
DAY 5
NEW BANKING FRONTIERS, FUNCTIONS, AND CRYPTOCURRENCIES
- The Design, Development, and Launch of Bitcoin
- Two-dozen Cryptocurrencies Follow the Bitcoin Lead
- Direct “peer-to-peer” Financial Transactions
- Dramatic Changes Coming in Global Banking Fees for Financial Intermediation
- Geographic Trade Blocs, Trade Pacts, and New Paradigms in “Cash Flow Management”
- Privacy Laws, Financial Disclosure, Collusion, Cartels, and Currency Innovations
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