´ñ±Û 3°³
±ÝÀ¶¿¬±¸¿ø
¾È³çÇϼ¼¿ä. ÇØÄ¿½º ±ÝÀ¶¾ÆÄ«µ¥¹ÌÀÔ´Ï´Ù.
¿ÜȯÀü¹®¿ª 1Á¾°ú °ü·ÃÇÏ¿© ¹®ÀÇÁֽŠ°Í¿¡ ´äº¯ µå¸³´Ï´Ù.
[¹®ÀÇÁֽŠ»çÇ×]
ÇØÄ¿½º ¿ÜȯÀü¹®¿ª 1Á¾ ÃÖÁ¾ÇÙ½ÉÁ¤¸®¹®Á¦Áý p.307, 5¹ø ¹®Á¦
[¹®ÀÇÁֽŠ»çÇ׿¡ ´ëÇÑ ´äº¯]
1. °áÁ¦ÀÏ°ú ¸¸±âÀÏ
¸¸±âÀÏÀÌ °ð °áÁ¦ÀÏÀ̸ç, µ¿ÀÏÇÏ´Ù°í º¸½Ã¸é µÇ°Ú½À´Ï´Ù. Çö¹°È¯°Å·¡ÀÇ °æ¿ì °áÁ¦ÀÏÀÌ 2¿µ¾÷ÀÏ À̳»ÀÌ°í, ¼±¹°È¯°Å·¡ÀÇ °æ¿ì °áÁ¦ÀÏÀÌ 2¿µ¾÷ÀϺ¸´Ù ´õ ±æ ±â°£À» ¼³Á¤Çϸç 3¿µ¾÷ÀÏ ÀÌÈÄ¿¡ ÀÌ·ç¾îÁý´Ï´Ù.
À̷пϼº³ëÆ®¿¡ ¼±¹°È¯°Å·¡°¡ ¡°2¿µ¾÷ÀÏ ÀÌÈÄ¡±·Î ÀÛ¼ºµÇ¾î ÀÖÀ¸³ª, 3¿µ¾÷ÀÏ ÀÌÈÄ°¡ ¿Ã¹Ù¸¥ ³»¿ëÀÔ´Ï´Ù. Çѱ¹±ÝÀ¶¿¬¼ö¿ø ±âº»¼ [ȯ¸®½ºÅ© °ü¸®] ±³ÀçÀÇ Ç¥ÇöÀ» ±×´ë·Î »ç¿ëÇÏ¿´À¸³ª, È¥µ¿ÀÌ ÀÖÀ» ¼ö ÀÖ°Ú½À´Ï´Ù. 3¿µ¾÷ÀÏ ÀÌÈÄ·Î ¼öÁ¤ÇØ Áֽñ⠹ٶø´Ï´Ù.
2. ÇØÄ¿½º ¿ÜȯÀü¹®¿ª 1Á¾ ÃÖÁ¾ÇÙ½ÉÁ¤¸®¹®Á¦Áý p.303, 3¹ø ¹®Á¦
offered rate¸¦ ±¸ÇÏ´Â ¹®Á¦À̹ǷÎ, ÇöÀç Çö¹°È¯ÀÇ offered rate 120.04¸¦ ÀÌ¿ëÇÏ¿© °è»êÇÕ´Ï´Ù. (bid rate¸¦ ±¸ÇÏ´Â ¹®Á¦¶ó¸é bid rate 119.44 »ç¿ë)
¶ÇÇÑ, ´Þ·¯/¿£ ȯÀ²ÀÇ °æ¿ì ´Þ·¯°¡ ±âÁØÅëÈÀÌ°í ¿£ÀÌ °¡º¯ÅëÈ°¡ µÇ´Âµ¥, offered rate´Â ±Ý¸®¸¦ Àû¿ëÇÒ ¶§ ±âÁØÅëÈÀÇ bid rate ±Ý¸®¿Í °¡º¯ÅëÈÀÇ offered rate ±Ý¸®¸¦ ¾Æ·¡ÀÇ °è»ê ¹æ½Ä¿¡ µû¶ó Àû¿ëÇÏ¿© °è»êÇÏ°Ô µË´Ï´Ù. (bid rate¸¦ ±¸ÇÏ´Â ¹®Á¦¶ó¸é ±âÁØÅëÈÀÇ offerd rate ±Ý¸®¿Í °¡º¯ÅëÈÀÇ bid rate ±Ý¸®¸¦ Àû¿ëÇÏ¿© °è»ê)
offered rate = Çö¹°È¯ offered rate ¡¿ [{(°¡º¯ÅëÈ offered rate ±Ý¸® - ±âÁØÅëÈ offered rate ±Ý¸®)¡¿t/360}/{(1+±âÁØÅëÈ offered rate ±Ý¸®)¡¿t/360}]
À§¿¡ µû¶ó °è»êÇÏ°Ô µÇ¸é
offered rate = 120.04 ¡¿ {(0.12% - 2.33%)¡¿90/360}/(1+2.33%¡¿90/360) = -0.6594
±Ã±ÝÇØ ÇϽŠ³»¿ë¿¡ ´ëÇÑ ´äº¯ÀÌ µÇ¾ú±â¸¦ ¹Ù¶ø´Ï´Ù.
¾ÕÀ¸·Î ´õ ÁÁÀº ±³Àç·Î ã¾ÆºË°Ú½À´Ï´Ù.
ÇØÄ¿½º ±ÝÀ¶¾ÆÄ«µ¥¹Ì¿¡¼ µå¸³´Ï´Ù.
2020-06-23
»èÁ¦
´äº¯´ñ±Û
|
´ñ±ÛÀÔ·Â
¦¦ ´Ð³×ÀÓ
ºñ¹Ð¹øÈ£
°È¿Àº
offered rate = Çö¹°È¯ offered rate ¡¿ [{(°¡º¯ÅëÈ offered rate ±Ý¸® - ±âÁØÅëÈ offered rate ±Ý¸®)¡¿t/360}/{(1+±âÁØÅëÈ offered rate ±Ý¸®)¡¿t/360}] ÀÌ°Å ±âÁØÅëÈ bid rate À߸ø¾´°Ç°¡¿ä?
2020-06-23
»èÁ¦
´äº¯´ñ±Û
|
´ñ±ÛÀÔ·Â
¦¦ ´Ð³×ÀÓ
ºñ¹Ð¹øÈ£
±ÝÀ¶¿¬±¸¿ø
³×, ¾Æ·¡°¡ ¸Â½À´Ï´Ù.
offered rate = Çö¹°È¯ offered rate ¡¿ [{(°¡º¯ÅëÈ offered rate ±Ý¸® - ±âÁØÅëÈ bid rate ±Ý¸®)¡¿t/360}/{(1+±âÁØÅëÈ offered rate ±Ý¸®)¡¿t/360}]
À߸ø ±âÀçÇصå·Á Á˼ÛÇÏ´Ù´Â ¸»¾¸µå¸³´Ï´Ù.
ÇØÄ¿½º ±ÝÀ¶¾ÆÄ«µ¥¹Ì¿¡¼ µå¸³´Ï´Ù.
2020-06-23
»èÁ¦
´äº¯´ñ±Û
|
´ñ±ÛÀÔ·Â
¦¦ ´Ð³×ÀÓ
ºñ¹Ð¹øÈ£
1
´ñ±ÛÀÔ·Â
´Ð³×ÀÓ
ºñ¹Ð¹øÈ£
¿ÜȯÀü¹®¿ª 1Á¾°ú °ü·ÃÇÏ¿© ¹®ÀÇÁֽŠ°Í¿¡ ´äº¯ µå¸³´Ï´Ù.
[¹®ÀÇÁֽŠ»çÇ×]
ÇØÄ¿½º ¿ÜȯÀü¹®¿ª 1Á¾ ÃÖÁ¾ÇÙ½ÉÁ¤¸®¹®Á¦Áý p.307, 5¹ø ¹®Á¦
[¹®ÀÇÁֽŠ»çÇ׿¡ ´ëÇÑ ´äº¯]
1. °áÁ¦ÀÏ°ú ¸¸±âÀÏ
¸¸±âÀÏÀÌ °ð °áÁ¦ÀÏÀ̸ç, µ¿ÀÏÇÏ´Ù°í º¸½Ã¸é µÇ°Ú½À´Ï´Ù. Çö¹°È¯°Å·¡ÀÇ °æ¿ì °áÁ¦ÀÏÀÌ 2¿µ¾÷ÀÏ À̳»ÀÌ°í, ¼±¹°È¯°Å·¡ÀÇ °æ¿ì °áÁ¦ÀÏÀÌ 2¿µ¾÷ÀϺ¸´Ù ´õ ±æ ±â°£À» ¼³Á¤Çϸç 3¿µ¾÷ÀÏ ÀÌÈÄ¿¡ ÀÌ·ç¾îÁý´Ï´Ù.
À̷пϼº³ëÆ®¿¡ ¼±¹°È¯°Å·¡°¡ ¡°2¿µ¾÷ÀÏ ÀÌÈÄ¡±·Î ÀÛ¼ºµÇ¾î ÀÖÀ¸³ª, 3¿µ¾÷ÀÏ ÀÌÈÄ°¡ ¿Ã¹Ù¸¥ ³»¿ëÀÔ´Ï´Ù. Çѱ¹±ÝÀ¶¿¬¼ö¿ø ±âº»¼ [ȯ¸®½ºÅ© °ü¸®] ±³ÀçÀÇ Ç¥ÇöÀ» ±×´ë·Î »ç¿ëÇÏ¿´À¸³ª, È¥µ¿ÀÌ ÀÖÀ» ¼ö ÀÖ°Ú½À´Ï´Ù. 3¿µ¾÷ÀÏ ÀÌÈÄ·Î ¼öÁ¤ÇØ Áֽñ⠹ٶø´Ï´Ù.
2. ÇØÄ¿½º ¿ÜȯÀü¹®¿ª 1Á¾ ÃÖÁ¾ÇÙ½ÉÁ¤¸®¹®Á¦Áý p.303, 3¹ø ¹®Á¦
offered rate¸¦ ±¸ÇÏ´Â ¹®Á¦À̹ǷÎ, ÇöÀç Çö¹°È¯ÀÇ offered rate 120.04¸¦ ÀÌ¿ëÇÏ¿© °è»êÇÕ´Ï´Ù. (bid rate¸¦ ±¸ÇÏ´Â ¹®Á¦¶ó¸é bid rate 119.44 »ç¿ë)
¶ÇÇÑ, ´Þ·¯/¿£ ȯÀ²ÀÇ °æ¿ì ´Þ·¯°¡ ±âÁØÅëÈÀÌ°í ¿£ÀÌ °¡º¯ÅëÈ°¡ µÇ´Âµ¥, offered rate´Â ±Ý¸®¸¦ Àû¿ëÇÒ ¶§ ±âÁØÅëÈÀÇ bid rate ±Ý¸®¿Í °¡º¯ÅëÈÀÇ offered rate ±Ý¸®¸¦ ¾Æ·¡ÀÇ °è»ê ¹æ½Ä¿¡ µû¶ó Àû¿ëÇÏ¿© °è»êÇÏ°Ô µË´Ï´Ù. (bid rate¸¦ ±¸ÇÏ´Â ¹®Á¦¶ó¸é ±âÁØÅëÈÀÇ offerd rate ±Ý¸®¿Í °¡º¯ÅëÈÀÇ bid rate ±Ý¸®¸¦ Àû¿ëÇÏ¿© °è»ê)
offered rate = Çö¹°È¯ offered rate ¡¿ [{(°¡º¯ÅëÈ offered rate ±Ý¸® - ±âÁØÅëÈ offered rate ±Ý¸®)¡¿t/360}/{(1+±âÁØÅëÈ offered rate ±Ý¸®)¡¿t/360}]
À§¿¡ µû¶ó °è»êÇÏ°Ô µÇ¸é
offered rate = 120.04 ¡¿ {(0.12% - 2.33%)¡¿90/360}/(1+2.33%¡¿90/360) = -0.6594
±Ã±ÝÇØ ÇϽŠ³»¿ë¿¡ ´ëÇÑ ´äº¯ÀÌ µÇ¾ú±â¸¦ ¹Ù¶ø´Ï´Ù.
¾ÕÀ¸·Î ´õ ÁÁÀº ±³Àç·Î ã¾ÆºË°Ú½À´Ï´Ù.
ÇØÄ¿½º ±ÝÀ¶¾ÆÄ«µ¥¹Ì¿¡¼ µå¸³´Ï´Ù. 2020-06-23
offered rate = Çö¹°È¯ offered rate ¡¿ [{(°¡º¯ÅëÈ offered rate ±Ý¸® - ±âÁØÅëÈ bid rate ±Ý¸®)¡¿t/360}/{(1+±âÁØÅëÈ offered rate ±Ý¸®)¡¿t/360}]
À߸ø ±âÀçÇصå·Á Á˼ÛÇÏ´Ù´Â ¸»¾¸µå¸³´Ï´Ù.
ÇØÄ¿½º ±ÝÀ¶¾ÆÄ«µ¥¹Ì¿¡¼ µå¸³´Ï´Ù. 2020-06-23