{"id":31050,"date":"2023-12-07T10:17:36","date_gmt":"2023-12-07T10:17:36","guid":{"rendered":"https:\/\/masterskills.org\/blog\/hop-dong-ki-han-lai-suat-forward-rate-agreement-la-gi-dac-diem.html"},"modified":"2023-12-23T07:24:53","modified_gmt":"2023-12-23T00:24:53","slug":"hop-dong-ki-han-lai-suat-forward-rate-agreement-la-gi-dac-diem","status":"publish","type":"post","link":"https:\/\/masterskills.org\/blog\/hop-dong-ki-han-lai-suat-forward-rate-agreement-la-gi-dac-diem.html","title":{"rendered":"H\u1ee3p \u0111\u1ed3ng k\u00ec h\u1ea1n l\u00e3i su\u1ea5t (Forward Rate Agreement) l\u00e0 g\u00ec? \u0110\u1eb7c \u0111i\u1ec3m"},"content":{"rendered":"
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H\u00ecnh minh h\u1ecda (Ngu\u1ed3n: BAOMOI.COM)<\/i><\/p>\n<\/div>\n<\/div>\n

H\u1ee3p \u0111\u1ed3ng k\u00ec h\u1ea1n l\u00e3i su\u1ea5t (Forward Rate Agreement)<\/font><\/h2>\n

Kh\u00e1i ni\u1ec7m\u00a0<\/b><\/p>\n

H\u1ee3p \u0111\u1ed3ng k\u00ec h\u1ea1n l\u00e3i su\u1ea5t<\/b> trong ti\u1ebfng Anh g\u1ecdi l\u00e0 Forward Rate Agreement<\/b>.<\/p>\n

H\u1ee3p \u0111\u1ed3ng k\u00ec h\u1ea1n l\u00e3i su\u1ea5t<\/b> l\u00e0 d\u1ea1ng h\u1ee3p \u0111\u1ed3ng ch\u1ee9ng kho\u00e1n ph\u00e1i sinh giao d\u1ecbch phi t\u1eadp trung \u1ea5n \u0111\u1ecbnh m\u1ee9c l\u00e3i su\u1ea5t cho m\u1ed9t kho\u1ea3n thanh to\u00e1n s\u1ebd \u0111\u01b0\u1ee3c th\u1ef1c hi\u1ec7n v\u00e0o m\u1ed9t th\u1eddi \u0111i\u1ec3m x\u00e1c \u0111\u1ecbnh trong t\u01b0\u01a1ng lai, tham chi\u1ebfu t\u1edbi m\u1ed9t lo\u1ea1i l\u00e3i su\u1ea5t nh\u1ea5t \u0111\u1ecbnh, ch\u1eb3ng h\u1ea1n nh\u01b0 LIBOR ho\u1eb7c Euribor.\u00a0<\/p>\n

H\u1ee3p \u0111\u1ed3ng k\u00ec h\u1ea1n l\u00e3i su\u1ea5t, b\u00ean gi\u1eef v\u1ecb th\u1ebf mua cam k\u1ebft s\u1ebd thanh to\u00e1n m\u1ed9t kho\u1ea3n ti\u1ec1n theo m\u1ee9c l\u00e3i su\u1ea5t c\u1ed1 \u0111\u1ecbnh cho b\u00ean gi\u1eef v\u1ecb th\u1ebf b\u00e1n t\u1ea1i m\u1ed9t th\u1eddi \u0111i\u1ec3m trong t\u01b0\u01a1ng lai, v\u00e0 nh\u1eadn l\u1ea1i m\u1ed9t kho\u1ea3n ti\u1ec1n x\u00e1c \u0111\u1ecbnh theo l\u00e3i su\u1ea5t th\u1ea3 n\u1ed5i \u0111\u01b0\u1ee3c x\u00e1c \u0111\u1ecbnh v\u00e0o ng\u00e0y \u0111\u00e1o h\u1ea1n h\u1ee3p \u0111\u1ed3ng.\u00a0<\/p>\n

C\u00e1c cam k\u1ebft thanh to\u00e1n ti\u1ec1n t\u1ea1i ng\u00e0y \u0111\u00e1o h\u1ea1n s\u1ebd \u0111\u01b0\u1ee3c t\u00ednh d\u1ef1a tr\u00ean m\u1ed9t gi\u00e1 tr\u1ecb v\u1ed1n danh ngh\u0129a, v\u00e0 kho\u1ea3n thanh to\u00e1n th\u1ef1c t\u1ebf c\u0103n c\u1ee9 v\u00e0o ch\u00eanh l\u1ec7ch gi\u1eefa l\u00e3i su\u1ea5t k\u00ec h\u1ea1n \u0111\u00e3 \u0111\u01b0\u1ee3c x\u00e1c \u0111\u1ecbnh khi m\u1edf h\u1ee3p \u0111\u1ed3ng v\u00e0 l\u00e3i su\u1ea5t th\u1ecb tr\u01b0\u1eddng th\u1ef1c t\u1ebf v\u00e0o ng\u00e0y thanh to\u00e1n.\u00a0<\/p>\n

Th\u00f4ng th\u01b0\u1eddng, c\u00f4ng c\u1ee5 g\u1ed1c th\u00f4ng d\u1ee5ng nh\u1ea5t c\u1ee7a h\u1ee3p \u0111\u1ed3ng k\u00ec h\u1ea1n l\u00e3i su\u1ea5t l\u00e0 LIBOR t\u00ednh theo \u0111\u1ed3ng \u0111\u00f4 la ho\u1eb7c EURIBOR t\u00ednh theo \u0111\u1ed3ng euro.\u00a0<\/p>\n

N\u00f3i nh\u01b0 v\u1eady, h\u1ee3p \u0111\u1ed3ng k\u00ec h\u1ea1n l\u00e3i su\u1ea5t c\u0169ng c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c hi\u1ec3u nh\u01b0 m\u1ed9t kho\u1ea3n vay s\u1ebd b\u1eaft \u0111\u1ea7u v\u00e0o m\u1ed9t th\u1eddi \u0111i\u1ec3m c\u1ee5 th\u1ec3 trong t\u01b0\u01a1ng lai v\u1edbi m\u1ee9c l\u00e3i su\u1ea5t \u0111\u00e3 \u1ed5n \u0111\u1ecbnh (l\u00e3i su\u1ea5t k\u00ec h\u1ea1n).<\/p>\n

Vi\u1ec7c trao \u0111\u1ed5i kho\u1ea3n v\u1ed1n s\u1ebd kh\u00f4ng di\u1ec5n ra m\u00e0 c\u00e1c b\u00ean (vay v\u00e0 cho vay) ch\u1ec9 thanh to\u00e1n v\u1edbi nhau kho\u1ea3n ti\u1ec1n l\u00e3i ch\u00eanh l\u1ec7ch x\u00e1c \u0111\u1ecbnh d\u1ef1a tr\u00ean gi\u00e1 tr\u1ecb v\u1ed1n g\u1ed1c danh ngh\u0129a \u0111\u00f3 v\u00e0 s\u1ef1 kh\u00e1c bi\u1ec7t gi\u1eefa l\u00e3i su\u1ea5t \u0111\u00e3 th\u1ecfa thu\u1eadn v\u00e0 l\u00e3i su\u1ea5t th\u1ef1c t\u1ebf t\u1ea1i th\u1eddi \u0111i\u1ec3m thanh to\u00e1n.\u00a0<\/p>\n

Trong h\u1ee3p \u0111\u1ed3ng n\u00e0y, b\u00ean mua \u0111\u00f3ng vai tr\u00f2 nh\u01b0 ng\u01b0\u1eddi \u0111i vay m\u1ed9t kho\u1ea3n ti\u1ec1n x\u00e1c \u0111\u1ecbnh (b\u1eb1ng gi\u00e1 tr\u1ecb v\u1ed1n danh ngh\u0129a) v\u1edbi l\u00e3i su\u1ea5t c\u1ed1 \u0111\u1ecbnh trong kho\u1ea3ng th\u1eddi gian. Ng\u01b0\u1ee3c l\u1ea1i, b\u00ean b\u00e1n l\u00e0 ng\u01b0\u1eddi cho vay m\u1ed9t kho\u1ea3n ti\u1ec1n (b\u1eb1ng gi\u00e1 tr\u1ecb v\u1ed1n danh ngh\u0129a) v\u1edbi l\u00e3i su\u1ea5t c\u1ed1 \u0111\u1ecbnh trong kho\u1ea3ng th\u1eddi gian \u0111\u00e3 bi\u1ebft \u0111\u00f3.<\/p>\n

\u0110\u1eb7c \u0111i\u1ec3m<\/font><\/h3>\n

– C\u01a1 ch\u1ebf ho\u1ea1t \u0111\u1ed9ng c\u1ee7a h\u1ee3p \u0111\u1ed3ng k\u00ec h\u1ea1n l\u00e3i su\u1ea5t l\u00e0 gi\u1ed1ng nhau \u00e1p d\u1ee5ng cho m\u1ecdi \u0111\u1ed3ng ti\u1ec1n thanh to\u00e1n.<\/p>\n

– C\u00e1c b\u00ean tham gia h\u1ee3p \u0111\u1ed3ng (th\u01b0\u1eddng g\u1ed3m m\u1ed9t b\u00ean l\u00e0 t\u1ed5 ch\u1ee9c kinh doanh ch\u1ee9ng kho\u00e1n ph\u00e1i sinh v\u00e0 m\u1ed9t b\u00ean l\u00e0 ng\u01b0\u1eddi s\u1eed d\u1ee5ng cu\u1ed1i c\u00f9ng th\u1ecfa thu\u1eadn v\u1ec1 l\u00e3i su\u1ea5t tham chi\u1ebfu, kho\u1ea3ng th\u1eddi gian hi\u1ec7u l\u1ef1c nh\u1ea5t \u0111\u1ecbnh (bao g\u1ed3m c\u1ea3 k\u00ec h\u1ea1n c\u1ee7a kho\u1ea3n vay danh ngh\u0129a v\u00e0 th\u1eddi \u0111i\u1ec3m t\u01b0\u01a1ng lai khi kho\u1ea3n vay \u0111\u00f3 b\u1eaft \u0111\u1ea7u c\u00f3 hi\u1ec7u l\u1ef1c), v\u00e0 gi\u00e1 tr\u1ecb danh ngh\u0129a c\u1ee7a h\u1ee3p \u0111\u1ed3ng.\u00a0<\/p>\n

B\u00ean mua h\u1ee3p \u0111\u1ed3ng k\u00ec h\u1ea1n l\u00e3i su\u1ea5t s\u1ebd \u0111\u01b0\u1ee3c l\u1ee3i n\u1ebfu l\u00e3i su\u1ea5t t\u0103ng tr\u00ean th\u1ecb tr\u01b0\u1eddng (do \u0111\u00e3 cam k\u1ebft tr\u1ea3 m\u1ee9c l\u00e3i su\u1ea5t c\u1ed1 \u0111\u1ecbnh th\u1ea5p h\u01a1n cho b\u00ean b\u00e1n h\u1ee3p \u0111\u1ed3ng k\u00ec h\u1ea1n l\u00e3i su\u1ea5t). Ng\u01b0\u1ee3c l\u1ea1i, b\u00ean b\u00e1n h\u1ee3p \u0111\u1ed3ng k\u00ec h\u1ea1n l\u00e3i su\u1ea5t s\u1ebd \u0111\u01b0\u1ee3c l\u1ee3i n\u1ebfu l\u00e3i su\u1ea5t gi\u1ea3m (do \u0111\u00e3 cam k\u1ebft tr\u1ea3 m\u1ee9c l\u00e3i su\u1ea5t th\u1ea3 n\u1ed5i, \u0111\u01b0\u1ee3c x\u00e1c \u0111\u1ecbnh d\u1ef1a theo l\u00e3i su\u1ea5t th\u1ecb tr\u01b0\u1eddng v\u00e0o ng\u00e0y thanh to\u00e1n).<\/p>\n

– H\u1ee3p \u0111\u1ed3ng qui \u0111\u1ecbnh m\u1ed9t gi\u00e1 tr\u1ecb v\u1ed1n danh ngh\u0129a l\u00e0m c\u01a1 s\u1edf x\u00e1c \u0111\u1ecbnh ngh\u0129a v\u1ee5 thanh to\u00e1n gi\u1eefa hai b\u00ean tham gia. Gi\u00e1 tr\u1ecb v\u1ed1n danh ngh\u0129a n\u00e0y kh\u00f4ng \u0111\u01b0\u1ee3c chuy\u1ec3n giao gi\u1eefa c\u00e1c b\u00ean m\u00e0 h\u1ecd ch\u1ec9 thanh to\u00e1n cho nhau kho\u1ea3n ti\u1ec1n l\u00e3i t\u00ednh tr\u00ean gi\u00e1 tr\u1ecb \u0111\u00f3.<\/p>\n

– C\u1ea7n l\u01b0u \u00fd r\u1eb1ng m\u1eb7c d\u00f9 h\u1ee3p \u0111\u1ed3ng k\u00ec h\u1ea1n l\u00e3i su\u1ea5t c\u00f3 th\u1ec3 c\u00f3 th\u1eddi gian \u0111\u00e1o h\u1ea1n ng\u1eafn h\u01a1n th\u1eddi h\u1ea1n g\u1eafn li\u1ec1n v\u1edbi c\u00f4ng c\u1ee5 g\u1ed1c c\u1ee7a h\u1ee3p \u0111\u1ed3ng, m\u1ee9c l\u00e3i su\u1ea5t m\u00e0 t\u1ed5 ch\u1ee9c kinh doanh h\u1ee3p \u0111\u1ed3ng k\u00ec h\u1ea1n l\u00e3i su\u1ea5t y\u1ebft v\u1ea5n ph\u1ea3i \u0111\u01b0\u1ee3c x\u00e1c \u0111\u1ecbnh d\u1ef1a tr\u00ean c\u00f4ng c\u1ee5 l\u00e3i su\u1ea5t g\u1ed1c.<\/p>\n

– Nh\u01b0 \u0111\u00e3 \u0111\u1ec1 c\u1eadp \u1edf tr\u00ean, m\u1ed7i h\u1ee3p \u0111\u1ed3ng k\u00ec h\u1ea1n l\u00e3i su\u1ea5t li\u00ean quan t\u1edbi hai kh\u00e1i ni\u1ec7m k\u00ec h\u1ea1n kh\u00e1c nhau: K\u00ec h\u1ea1n (th\u1eddi gian \u0111\u00e1o h\u1ea1n) c\u1ee7a h\u1ee3p \u0111\u1ed3ng v\u00e0 k\u00ec h\u1ea1n c\u1ee7a kho\u1ea3n vay danh ngh\u0129a (li\u00ean quan \u0111\u1ebfn l\u00e3i su\u1ea5t c\u01a1 s\u1edf).<\/p>\n

(T\u00e0i li\u1ec7u tham kh\u1ea3o, Gi\u00e1o tr\u00ecnh Ch\u1ee9ng kho\u00e1n ph\u00e1i sinh & Th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n ph\u00e1i sinh)<\/i><\/p>\n<\/p>\n<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

\n H\u1ee3p \u0111\u1ed3ng k\u00ec h\u1ea1n l\u00e3i su\u1ea5t (ti\u1ebfng Anh: Forward Rate Agreement) l\u00e0 d\u1ea1ng h\u1ee3p \u0111\u1ed3ng ch\u1ee9ng kho\u00e1n ph\u00e1i sinh giao d\u1ecbch phi t\u1eadp trung \u1ea5n \u0111\u1ecbnh m\u1ee9c l\u00e3i su\u1ea5t cho m\u1ed9t kho\u1ea3n thanh to\u00e1n s\u1ebd \u0111\u01b0\u1ee3c th\u1ef1c hi\u1ec7n v\u00e0o m\u1ed9t th\u1eddi \u0111i\u1ec3m x\u00e1c \u0111\u1ecbnh trong t\u01b0\u01a1ng lai.\n <\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[417],"tags":[],"_links":{"self":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/31050"}],"collection":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/comments?post=31050"}],"version-history":[{"count":0,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/31050\/revisions"}],"wp:attachment":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/media?parent=31050"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/categories?post=31050"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/tags?post=31050"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}