| 研究生: |
吳佳音 Wu, Joy |
|---|---|
| 論文名稱: |
外幣計價國際板票券在台灣之可行性分析 A feasibility study on foreign currency denominated international bills in Taiwan |
| 指導教授: |
蔡政憲
Tsai, Cheng- Hsien |
| 學位類別: |
碩士
Master |
| 系所名稱: |
商學院 - 國際經營管理英語碩士學位學程(IMBA) International MBA Program College of Commerce(IMBA) |
| 論文出版年: | 2018 |
| 畢業學年度: | 106 |
| 語文別: | 英文 |
| 論文頁數: | 45 |
| 中文關鍵詞: | 國際板票券 、貨幣市場 、保險業 |
| 外文關鍵詞: | International bills, Money market, Insurance industry |
| 相關次數: | 點閱:18 下載:0 |
| 分享至: |
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Lately foreign currency denominated international bonds have been the most popular investment product, and this phenomenon contributes to flourish Taiwan bonds market. Compare with that, bills market is much more deserted. In fact, bills and bonds are quite similar products but only differ from tenor, so why couldn’t bills be as popular as bonds are in Taiwan?
In the thesis we started by introduction of domestic international bonds market, followed by domestic bills finance industry, then we focus on international money market, mainly the U.S and China, to find out what can be international bills target for Taiwan market. Finally, we examine the interest spread for investors by different funding resource to prove the probability, and discuss about the issue of regulations which needs to be resolved.
1. Introduction 1
2. Foreign Currency Denominated International Bonds Market in Taiwan 2
2.1. Past Growth 2
2.2. Current Overview 5
2.3. Issuance Process 8
2.4. Primary Buyer Analysis 10
3. Taiwan Bills Finance Industry 17
3.1. History Background 17
3.2. Overview of Money Market in Taiwan 20
3.3. Issuance Process of Bills Market 22
4. International Money Markets 27
4.1. U.S 27
4.2. China 31
5. The Potential of Foreign Currency Denominated International Bills in Taiwan 34
5.1. Market Analysis 34
5.2. Issues to be Resolved 41
5.3. Conclusion and Expectation 43
6. Reference 44
Central Bank of Republic of China. http://www.cbc.gov.tw/
R.O.C Bills Finance Association. http://www.tbfa.org.tw/index.html
Financial Supervisory Commission R.O.C. https://www.sfb.gov.tw/ch/index.jsp
Market Observation Post System. http://mops.twse.com.tw/mops/web/t113sb02
Taipei Exchange. http://www.tpex.org.tw/web/?l=zh-tw
Taiwan Insurance Institute. https://www.tii.org.tw/opencms/index.html
National Association of Insurance Commissioners http://www.naic.org/cipr_topics/topic_risk_based_capital.htm
China Money http://www.chinamoney.com.cn/
China Bond http://www.chinabond.com.cn/d2s/cbData.html
Shanghai Clearing House https://www.shclearing.com/
Board of Governors of the Federal Reserve System https://www.federalreserve.gov/
Bank of Taiwan Deposit Rate http://rate.bot.com.tw/ir?Lang=zh-TW
Mega Intl. Commercial Bank Deposit Rate https://www.megabank.com.tw/other/bulletin02_04.asp
Taipei Fubon Deposit Rate https://www.fubon.com/banking/personal/deposit/interest_rate/interest_rate_foreign.htm
Cathay United Bank Deposit Rate https://www.cathaybk.com.tw/cathaybk/personal/exchange/product/account/#first-tab-04
International Bills Finance Corporation. 2017. Bills Finance in Taiwan (1st ed.). Taipei, Taiwan: The Employee Welfare Committee of International Bills Finance Corporation
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