{"id":31103,"date":"2023-12-07T10:20:21","date_gmt":"2023-12-07T10:20:21","guid":{"rendered":"https:\/\/masterskills.org\/blog\/hop-dong-hoan-doi-lam-phat-inflation-swap-la-gi-cach-thuc-hoat-dong-hop-dong-hoan-doi-lam-phat.html"},"modified":"2023-12-23T07:24:57","modified_gmt":"2023-12-23T00:24:57","slug":"hop-dong-hoan-doi-lam-phat-inflation-swap-la-gi-cach-thuc-hoat-dong-hop-dong-hoan-doi-lam-phat","status":"publish","type":"post","link":"https:\/\/masterskills.org\/blog\/hop-dong-hoan-doi-lam-phat-inflation-swap-la-gi-cach-thuc-hoat-dong-hop-dong-hoan-doi-lam-phat.html","title":{"rendered":"H\u1ee3p \u0111\u1ed3ng ho\u00e1n \u0111\u1ed5i l\u1ea1m ph\u00e1t (Inflation Swap) l\u00e0 g\u00ec? C\u00e1ch th\u1ee9c ho\u1ea1t \u0111\u1ed9ng H\u1ee3p \u0111\u1ed3ng ho\u00e1n \u0111\u1ed5i l\u1ea1m ph\u00e1t"},"content":{"rendered":"
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Hi\u0300nh minh ho\u0323a. Ngu\u00f4\u0300n: Investopedia.com<\/i><\/p>\n<\/div>\n<\/div>\n

H\u1ee3p \u0111\u1ed3ng ho\u00e1n \u0111\u1ed5i l\u1ea1m ph\u00e1t<\/font><\/h2>\n

Kha\u0301i ni\u00ea\u0323m<\/b><\/p>\n

H\u1ee3p \u0111\u1ed3ng ho\u00e1n \u0111\u1ed5i l\u1ea1m ph\u00e1t<\/b> trong ti\u00ea\u0301ng Anh la\u0300 Inflation Swap<\/b>.<\/p>\n

H\u1ee3p \u0111\u1ed3ng ho\u00e1n \u0111\u1ed5i l\u1ea1m ph\u00e1t <\/b>l\u00e0 m\u1ed9t h\u1ee3p \u0111\u1ed3ng \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng \u0111\u1ec3 chuy\u1ec3n r\u1ee7i ro l\u1ea1m ph\u00e1t t\u1eeb b\u00ean n\u00e0y sang b\u00ean kh\u00e1c th\u00f4ng qua trao \u0111\u1ed5i c\u00e1c d\u00f2ng ti\u1ec1n c\u1ed1 \u0111\u1ecbnh.\u00a0<\/p>\n

Trong h\u1ee3p \u0111\u1ed3ng ho\u00e1n \u0111\u1ed5i l\u1ea1m ph\u00e1t, m\u1ed9t b\u00ean \u0111\u1ed3ng \u00fd tr\u1ea3 d\u00f2ng ti\u1ec1n c\u00f3 l\u00e3i su\u1ea5t c\u1ed1 \u0111\u1ecbnh tr\u00ean m\u1ed9t kho\u1ea3n ti\u1ec1n g\u1ed1c danh ngh\u0129a v\u00e0 b\u00ean c\u00f2n l\u1ea1i \u0111\u1ed3ng \u00fd tr\u1ea3 d\u00f2ng ti\u1ec1n c\u00f3 l\u00e3i su\u1ea5t th\u1ea3 n\u1ed5i d\u1ef1a tr\u00ean m\u1ed9t ch\u1ec9 s\u1ed1 l\u1ea1m ph\u00e1t ch\u1eb3ng h\u1ea1n nh\u01b0 Ch\u1ec9 s\u1ed1 gi\u00e1 ti\u00eau d\u00f9ng (CPI).\u00a0<\/p>\n

B\u00ean tr\u1ea3 theo l\u00e3i su\u1ea5t th\u1ea3 n\u1ed5i s\u1ebd ph\u1ea3i thanh to\u00e1n s\u1ed1 ti\u1ec1n b\u1eb1ng v\u1edbi t\u1ec9 l\u1ec7 \u0111i\u1ec1u ch\u1ec9nh l\u1ea1m ph\u00e1t nh\u00e2n v\u1edbi s\u1ed1 ti\u1ec1n g\u1ed1c danh ngh\u0129a.\u00a0<\/p>\n

Kho\u1ea3n ti\u1ec1n g\u1ed1c th\u01b0\u1eddng s\u1ebd kh\u00f4ng \u0111\u01b0\u1ee3c \u0111\u1ed5i ch\u1ee7 v\u00e0 m\u1ed7i d\u00f2ng ti\u1ec1n l\u00e0 m\u1ed9t nh\u00e1nh c\u1ee7a h\u1ee3p \u0111\u1ed3ng ho\u00e1n \u0111\u1ed5i. Nh\u00e1nh c\u1ee7a h\u1ee3p \u0111\u1ed3ng ho\u00e1n \u0111\u1ed5i l\u00e0 m\u1ed9t thu\u1eadt ng\u1eef \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng \u0111\u1ec3 ch\u1ec9 hai d\u00f2ng ti\u1ec1n m\u00e0 hai b\u00ean h\u1ee3p \u0111\u1ed3ng th\u1ecfa thu\u1eadn s\u1ebd tr\u1ea3. \u00a0\u00a0 <\/i><\/p>\n

\u0110\u1eb7c \u0111i\u1ec3m H\u1ee3p \u0111\u1ed3ng ho\u00e1n \u0111\u1ed5i l\u1ea1m ph\u00e1t\u00a0<\/font><\/h3>\n

\u01afu \u0111i\u1ec3m c\u1ee7a h\u1ee3p \u0111\u1ed3ng ho\u00e1n \u0111\u1ed5i l\u1ea1m ph\u00e1t <\/b> l\u00e0 n\u00f3 cung c\u1ea5p m\u1ed9t \u01b0\u1edbc t\u00ednh t\u01b0\u01a1ng \u0111\u1ed1i ch\u00ednh x\u00e1c v\u1ec1 t\u1ec9 l\u1ec7 l\u1ea1m ph\u00e1t “h\u00f2a v\u1ed1n” c\u1ee7a th\u1ecb tr\u01b0\u1eddng.\u00a0<\/p>\n

V\u1ec1 m\u1eb7t kh\u00e1i ni\u1ec7m, t\u1ec9 l\u1ec7 l\u1ea1m ph\u00e1t “h\u00f2a v\u1ed1n” c\u1ee7a th\u1ecb tr\u01b0\u1eddng l\u00e0 t\u1ec9 l\u1ec7 l\u1ea1m ph\u00e1t d\u1ef1 ki\u1ebfn c\u1ee7a th\u1ecb tr\u01b0\u1eddng, c\u00e1ch \u0111\u1ecbnh gi\u00e1 cho t\u1ec9 l\u1ec7 n\u00e0y d\u1ef1a tr\u00ean th\u1ecfa thu\u1eadn gi\u1eefa ng\u01b0\u1eddi mua v\u00e0 ng\u01b0\u1eddi b\u00e1n (gi\u1eefa cung v\u00e0 c\u1ea7u) \u0111\u1ec3 giao d\u1ecbch t\u1ea1i m\u1ed9t t\u1ec9 l\u1ec7 \u0111\u01b0\u1ee3c qui \u0111\u1ecbnh. Trong tr\u01b0\u1eddng h\u1ee3p n\u00e0y, t\u1ec9 l\u1ec7 \u0111\u01b0\u1ee3c qui \u0111\u1ecbnh l\u00e0 t\u1ec9 l\u1ec7 l\u1ea1m ph\u00e1t d\u1ef1 ki\u1ebfn. \u00a0 \u00a0\u00a0<\/p>\n

N\u00f3i m\u1ed9t c\u00e1ch \u0111\u01a1n gi\u1ea3n l\u00e0 hai b\u00ean tham gia h\u1ee3p \u0111\u1ed3ng ho\u00e1n \u0111\u1ed5i l\u1ea1m ph\u00e1t s\u1ebd \u0111i \u0111\u1ebfn m\u1ed9t th\u1ecfa thu\u1eadn d\u1ef1a tr\u00ean t\u1ec9 l\u1ec7 l\u1ea1m ph\u00e1t m\u00e0 m\u1ed7i b\u00ean d\u1ef1 ki\u1ebfn c\u00f3 th\u1ec3 x\u1ea3y ra trong th\u1eddi h\u1ea1n h\u1ee3p \u0111\u1ed3ng.\u00a0<\/p>\n

Gi\u1ed1ng nh\u01b0\u00a0h\u1ee3p \u0111\u1ed3ng ho\u00e1n \u0111\u1ed5i l\u00e3i su\u1ea5t, c\u00e1c b\u00ean trao \u0111\u1ed5i d\u00f2ng ti\u1ec1n d\u1ef1a tr\u00ean s\u1ed1 ti\u1ec1n g\u1ed1c danh ngh\u0129a (s\u1ed1 ti\u1ec1n n\u00e0y kh\u00f4ng th\u1ef1c s\u1ef1 \u0111\u01b0\u1ee3c trao \u0111\u1ed5i), tuy nhi\u00ean thay v\u00ec ph\u00f2ng ng\u1eeba r\u1ee7i ro \u0111\u1ea7u c\u01a1 hay r\u1ee7i ro l\u00e3i su\u1ea5t, h\u1ee3p \u0111\u1ed3ng ho\u00e1n \u0111\u1ed5i l\u1ea1m ph\u00e1t ch\u1ec9 t\u1eadp trung v\u00e0o r\u1ee7i ro l\u1ea1m ph\u00e1t. \u00a0\u00a0 <\/p>\n

H\u1ee3p \u0111\u1ed3ng ho\u00e1n \u0111\u1ed5i l\u1ea1m ph\u00e1t \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng b\u1edfi c\u00e1c chuy\u00ean gia t\u00e0i ch\u00ednh \u0111\u1ec3 gi\u1ea3m thi\u1ec3u (ho\u1eb7c ph\u00f2ng ng\u1eeba) r\u1ee7i ro l\u1ea1m ph\u00e1t v\u00e0 l\u1ee3i d\u1ee5ng bi\u1ebfn \u0111\u1ed9ng gi\u00e1 c\u1ea3 \u0111\u1ec3 n\u00e2ng cao l\u1ee3i th\u1ebf c\u1ee7a h\u1ecd.\u00a0 \u00a0<\/p>\n

C\u00e1ch th\u1ee9c ho\u1ea1t \u0111\u1ed9ng H\u1ee3p \u0111\u1ed3ng ho\u00e1n \u0111\u1ed5i l\u1ea1m ph\u00e1t\u00a0<\/font><\/h3>\n

M\u1ed9t b\u00ean trong h\u1ee3p \u0111\u1ed3ng ho\u00e1n \u0111\u1ed5i l\u1ea1m ph\u00e1t <\/b>s\u1ebd nh\u1eadn \u0111\u01b0\u1ee3c m\u1ed9t kho\u1ea3n thanh to\u00e1n kh\u1ea3 bi\u1ebfn (th\u1ea3 n\u1ed5i) theo t\u1ec9 l\u1ec7 l\u1ea1m ph\u00e1t v\u00e0 s\u1ebd ph\u1ea3i tr\u1ea3 m\u1ed9t kho\u1ea3n ti\u1ec1n theo l\u00e3i su\u1ea5t c\u1ed1 \u0111\u1ecbnh \u0111\u1ecbnh tr\u01b0\u1edbc.<\/p>\n

B\u00ean c\u00f2n l\u1ea1i s\u1ebd thanh to\u00e1n kho\u1ea3n ti\u1ec1n \u0111i\u1ec1u ch\u1ec9nh theo t\u1ec9 l\u1ec7 l\u1ea1m ph\u00e1t tr\u00ean v\u00e0 nh\u1eadn kho\u1ea3n thanh to\u00e1n c\u00f3 l\u00e3i su\u1ea5t c\u1ed1 \u0111\u1ecbnh. S\u1ed1 ti\u1ec1n danh ngh\u0129a s\u1ebd \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng \u0111\u1ec3 t\u00ednh to\u00e1n c\u00e1c d\u00f2ng ti\u1ec1n thanh to\u00e1n.\u00a0<\/p>\n

H\u1ee3p \u0111\u1ed3ng ho\u00e1n \u0111\u1ed5i kh\u00f4ng tr\u1ea3 l\u00e3i \u0111\u1ecbnh k\u00ec l\u00e0 lo\u1ea1i ph\u1ed5 bi\u1ebfn nh\u1ea5t, \u1edf \u0111\u00f3 d\u00f2ng ti\u1ec1n ch\u1ec9 \u0111\u01b0\u1ee3c ho\u00e1n \u0111\u1ed5i khi h\u1ee3p \u0111\u1ed3ng \u0111\u00e1o h\u1ea1n. \u00a0\u00a0<\/i><\/p>\n

C\u0169ng nh\u01b0 c\u00e1c giao d\u1ecbch h\u1ee3p \u0111\u1ed3ng ho\u00e1n \u0111\u1ed5i kh\u00e1c, h\u1ee3p \u0111\u1ed3ng ho\u00e1n \u0111\u1ed5i l\u1ea1m ph\u00e1t ban \u0111\u1ea7u c\u00f3 hai gi\u00e1 tr\u1ecb ngang b\u1eb1ng nhau. Khi l\u00e3i su\u1ea5t v\u00e0 t\u1ec9 l\u1ec7 l\u1ea1m ph\u00e1t thay \u0111\u1ed5i, gi\u00e1 tr\u1ecb c\u1ee7a c\u00e1c kho\u1ea3n thanh to\u00e1n th\u1ea3 n\u1ed5i c\u1ee7a ho\u00e1n \u0111\u1ed5i s\u1ebd t\u0103ng l\u00ean ho\u1eb7c gi\u1ea3m xu\u1ed1ng.\u00a0<\/p>\n

T\u1ea1i m\u1ed9t th\u1eddi \u0111i\u1ec3m qui \u0111\u1ecbnh tr\u01b0\u1edbc, gi\u00e1 tr\u1ecb th\u1ecb tr\u01b0\u1eddng c\u1ee7a h\u1ee3p \u0111\u1ed3ng ho\u00e1n \u0111\u1ed5i s\u1ebd \u0111\u01b0\u1ee3c t\u00ednh to\u00e1n, m\u1ed9t b\u00ean tr\u00ean h\u1ee3p \u0111\u1ed3ng s\u1ebd g\u1eedi t\u00e0i s\u1ea3n \u0111\u1ea3m b\u1ea3o cho b\u00ean c\u00f2n l\u1ea1i t\u00f9y thu\u1ed9c v\u00e0o gi\u00e1 tr\u1ecb c\u1ee7a h\u1ee3p \u0111\u1ed3ng ho\u00e1n \u0111\u1ed5i. \u00a0\u00a0<\/p>\n

V\u00ed d\u1ee5 v\u1ec1 H\u1ee3p \u0111\u1ed3ng ho\u00e1n \u0111\u1ed5i l\u1ea1m ph\u00e1t\u00a0<\/font><\/h3>\n

Nh\u00e0 \u0111\u1ea7u t\u01b0 A mua m\u1ed9t th\u01b0\u01a1ng phi\u1ebfu, \u0111\u1ed3ng th\u1eddi, \u00f4ng A c\u0169ng tham gia v\u00e0o m\u1ed9t h\u1ee3p \u0111\u1ed3ng ho\u00e1n \u0111\u1ed5i l\u1ea1m ph\u00e1t.<\/b> Th\u01b0\u01a1ng phi\u1ebfu n\u00e0y cung c\u1ea5p cho nh\u00e0 \u0111\u1ea7u t\u01b0 m\u1ed9t l\u00e3i su\u1ea5t\u00a0LIBOR\u00a0th\u1ef1c c\u1ed9ng v\u1edbi t\u1ec9 l\u1ec7 ch\u00eanh l\u1ec7ch t\u00edn d\u1ee5ng v\u00e0 t\u1ec9 l\u1ec7 l\u1ea1m ph\u00e1t kh\u1ea3 bi\u1ebfn.\u00a0<\/p>\n

B\u1eb1ng c\u00e1ch tham gia v\u00e0o m\u1ed9t h\u1ee3p \u0111\u1ed3ng ho\u00e1n \u0111\u1ed5i l\u1ea1m ph\u00e1t, nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111\u00e3 bi\u1ebfn y\u1ebfu t\u1ed1 l\u1ea1m ph\u00e1t c\u1ee7a th\u01b0\u01a1ng phi\u1ebfu t\u1eeb th\u1ea3 n\u1ed5i sang c\u1ed1 \u0111\u1ecbnh.\u00a0<\/p>\n

\u00d4ng s\u1ebd nh\u1eadn \u0111\u01b0\u1ee3c m\u1ed9t kho\u1ea3n thanh to\u00e1n theo t\u1ec9 l\u1ec7 c\u1ed1 \u0111\u1ecbnh v\u00e0 s\u1ebd ph\u1ea3i tr\u1ea3 m\u1ed9t kho\u1ea3n ti\u1ec1n v\u1edbi t\u1ec9 l\u1ec7 th\u1ea3 n\u1ed5i d\u1ef1a tr\u00ean t\u1ec9 l\u1ec7 l\u1ea1m ph\u00e1t. \u00a0 \u00a0 <\/p>\n

(Theo Investopedia<\/i>)<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

\n H\u1ee3p \u0111\u1ed3ng ho\u00e1n \u0111\u1ed5i l\u1ea1m ph\u00e1t (ti\u1ebfng Anh: Inflation Swap) l\u00e0 m\u1ed9t h\u1ee3p \u0111\u1ed3ng \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng \u0111\u1ec3 chuy\u1ec3n giao r\u1ee7i ro l\u1ea1m ph\u00e1t t\u1eeb m\u1ed9t b\u00ean sang b\u00ean c\u00f2n l\u1ea1i th\u00f4ng qua vi\u1ec7c trao \u0111\u1ed5i c\u00e1c d\u00f2ng ti\u1ec1n c\u1ed1 \u0111\u1ecbnh.\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\/31103"}],"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=31103"}],"version-history":[{"count":0,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/31103\/revisions"}],"wp:attachment":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/media?parent=31103"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/categories?post=31103"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/tags?post=31103"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}