Forex forward agreement
Introduction A financial contract between ICBC and the forex which guarantees that the customer will be able to deal at an agreed rate of interest using contract rate and reference rate, on a future date for a notional amount. Buyer pays interest based on contract rate, seller pays interest based on reference rate. Currently FX forward rate agreement uses 3-month LIBOR rate, 6-month LIBOR rate. Target Clients Corporate clients established in People's Republic of China excluding Hong Kong, Macau, Taiwan who have the need to hedge against borrowing risk. Functions and Features FX forward rate agreements are the most typical OTC interest rate derivative. They are just contracts set up between two counterparties. They have clear, simple structure, very flexible. Customers use FX forward rate agreement to hedge short-term interest rate exposure and fix borrowing cost, or secure cheaper debt by buying and selling the underlying product in forward rate agreement in different financial markets to create a profit. Forex derivatives are often traded on exchanges. ICBC can quote price and hedge currency directly in the market. In terms of exchange rate quotes, ICBC has a team of experienced and professional traders, product designers and quantitative analysts, flexible pricing mechanism and strong competitive advantages against the peers. Very flexible in the design of the product. Tenor, structure can be set to serve client business need. ICBC provides periodic valuation reports, and quality dynamic management services in line with the market movement and customer requirement. Price ICBC prices quoted to customers are based on the latest trend in FX forward rate market, and updated in real-time in line with the market changes. Service Channel and Hours Eligible corporate clients are welcomed to apply within ICBC banking hours for corporate services at forward sub-branch or tier-2 branch authorized to forex derivatives. ICBC will make an overall assessment on the customer business nature, experience in trading financial derivatives, internal management and control and recommend suitable products. Customer has to sign necessary agreements with ICBC first. Customer must provide margin or other guarantees to cover the obligations, or use the credit line specially granted for trading derivatives. Risk disclosure and sign confirmation letter: ICBC will make a statement on the risk involved cash flow analysis, market value and factors, potential loss in market value. Customer must confirm in written and sign the confirmation letter. Risk Warning Customers may gain or lose from the interest rate fluctuations. Stop agreement forward rate agreement may suffer loss if it appears to lose. However, the floating gain or loss will not affect the management validity if the underlying asset used for the agreement and arbitrage fully matches. A company is looking to borrow a short-term loan at 3-month LIBOR rate in a 3 month time. Customer is worrying that LIBOR rate might increase, and wish to protect against the rising interest rate. Considerations A minimum of USD 2 million or equivalent in other foreign currencies is required, shortest period is 6 months settlement in every month. Information herein is for reference only. Refer to the announcements and regulations of local branches for further details. ICBC reserves the final right of interpretation. Personal Loan Investment and Financing Convenient Banking Cross-border Financial Services Deposit Forward E-banking Business. Corporate Deposit Loan Financing Financing Lease Bill Business Settlement Service Corporate Wealth Management. Personal E-banking Service Corporate E-banking Service Download Software Security Corner. Introduction Cards World Card Services Apply for Credit Card Online Important Notices Forex Card Frequently Asked Questions. The Brand Services Mart International Settlement Trade Agreement International Financing FX Guarantee. FX Forward Rate Agreement. Arial, Helvetica, sans-serif; font-size: Personal Loan Investment and Financing Convenient Banking Cross-border Financial Services Deposit Personal E-banking Business Corporate Deposit Loan Financing Financing Lease Bill Business Settlement Service Corporate Wealth Management Personal E-banking Service Corporate E-banking Service Download Software Security Corner Introduction Cards World Card Services Apply for Credit Card Online Important Notices Peony Card Frequently Asked Questions The Brand Services Mart International Settlement Trade Financing International Financing FX Guarantee. Working Capital Loan Service. Domestic Trade Financing Products. Real Estate Development Loans. Fixed Assets Support Financing. Merging and Acquiring Loans. Electric Commercial Draft Discounting. Electric Commercial Draft Rediscounting. Account Management and Information Service. Supply Chain Financial Service. Diversified Service Channel Supports. Manufacturing and Sales Enterprise Solution. Household Appliance Enterprise Solution. Import and Export Enterprise Solution. Fast Foods Retail Enterprise Solution. Chain Operation Enterprise Solution. Account Payment Limit Control. Global Cash Management Solution China Headquarters. Global Cash Management Solution Regional Management Center. Global Cash Management Solution Overseas Headquarters. Internet Banking for Cash Management. OTC Book-entry Bond Trading. Investment and Financing Consultancy. Perennial Financial Advisory Service. Investment Banking Research Service. Forex Investment Banking Services. Financial Restructuring Advisory Service. Debt Financing Advisory Service. Custody Services for Securities Investment Fund. Asset Management Services for Specific Customers of Fund Management Companies. Custody Services for Corporate Annuity Fund. Custody Service for Pension Insurance Fund Personal Account. Custody Services for Insurance Assets. Custody Service for Private Equity Investment Fund. Custody Service for QDII. Custody Service for QFII. Securities Investment Fund Custody Service for Securities Companies. Custody Service for Corporate Annuity Pension Products. Custody Service for RQFII. Custody Services for Anxin Account. Custody Service for Wealth Management Products of Commercial Banks. Custody Services for Collective Asset Management Scheme Securities Company. Custody Service for National Social Security Fund. Client-Specific Asset Custody Business for Securities Companies. Custody Service for QFLP. Custody Service for Occupational Annuity Fund. Custody Service for Private Equity Securities Investment Fund. Custody Service for Asset Management Plan of Futures Companies. Custody Service for Bills. Safekeeping of Trust Assets. Services for Custody Forward Investment in Wealth Management Products. Investment Custody Forward of Overseas Institutions in the Inter-Bank Market. Custody Service for QDLP. Comprehensive Pension Security Service. Other Trade Credit Facilities. Settlement Service for Small Enterprise. Investment Banking Advisory Services. Underwriting of Subordinated Debt Insurance Company. Underwriting of Hybrid Capital Bond Commercial Bank. RMB Bond Borrowing and Forex. Two-Way Trading of Precious Metal via Account. Regular Investment on Account-based Precious Metal. Agency Bond Trade and Settlement. Spot Exchange Settlement and Sale. Forward FX at Par. Forward FX Unilaterally Termination. Forward Foreign Exchange Agreement Terminated by Cumulative Forward. Dual-currency Forward Exchange Sales and Settlement. RMB-Foreign Exchange Option Portfolio. Progressive FX Interest Rate Swap. Forward FX Interest Rate Swap. FX Interest Rate Swap. FX Interest Rate Swap Option. FX Interest Rate Swap under Remittance Payment Link. Underwriting of Short-Term Bonds. Underwriting of Mid-Term Agreement. Underwriting of Asset-backed Notes. Underwriting of Super Short-term Commercial Papers. Risk Management Services Combined with Gold Leasing. Risk Management Services on Commodities. Risk Management Services Combined with Commodity Finance. Bond Trading agreement Settlement. Corporate Customer Online Unsecured Loan. Online Merchandise Mart Finance.
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Intervention in the intertemporal markets must, moreover, inevitably prevent them from registering individual multi-period value rankings as sensitively as possible.
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