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pari passu条款

pari passu条款摘要：1.定义Pari Passu条款2.Pari Passu条款的应用场景3.Pari Passu条款的优点和缺点4.我国对Pari Passu条款的态度5.结论正文：Pari Passu条款，中文翻译为“平等对待”或“平等待遇”，是国际金融领域中常见的一种合同条款。

该条款主要应用于债券发行、银团贷款等金融交易中，用于保障多个债权人之间的平等地位。

根据这一条款，债务人在向债权人支付本息时，应保证所有债权人享有同等的待遇，不论债权人的优先级和金额大小。

Pari Passu条款的应用场景包括：- 债券发行：当企业发行多种类型的债券时，Pari Passu条款可以确保所有债券持有者享有同等待遇，避免因债券类型不同而导致支付顺序和金额的不公平现象。

- 银团贷款：多家银行联合向一个借款人提供贷款时，Pari Passu条款可以确保各银行在利息、还款顺序等方面享有平等地位。

Pari Passu条款具有以下优点：- 公平性：确保了多个债权人之间的平等待遇，避免了因债权人地位不同而导致的支付顺序和金额的不公平现象。

- 透明度：通过明确规定支付顺序和金额，提高了金融交易的透明度，有助于维护金融市场的稳定。

然而，Pari Passu条款也存在一定的缺点：- 操作复杂：在实际操作中，由于涉及到多个债权人的利益平衡，可能导致协商过程较为复杂，增加了交易成本。

- 法律风险：在不同国家和地区的法律体系下，Pari Passu条款的适用可能存在差异，可能导致债务人面临法律风险。

我国对Pari Passu条款的态度是肯定的。

在债券发行和银团贷款等领域，我国鼓励采用Pari Passu条款，以保障债权人的合法权益。

同时，我国也积极与国际金融市场接轨，推动金融市场的规范化、法治化建设。

总之，Pari Passu条款作为一种保障债权人平等地位的金融合同条款，在我国金融市场中具有积极意义。

瑞士巴塞尔简介

瑞士巴塞尔简介
巴塞尔是瑞士最大的城市，也是瑞士最早的金融中心之一，瑞士联邦、巴塞尔中央银行及许多银行均设于此，世界着名的国际贸易中心就在这里。

巴塞尔位于瑞士东部，由九个区组成，是瑞士最早的金融中心之一，也是世界上最重要的贸易和金融中心之一。

巴塞尔是一个充满生机、繁荣兴旺、历史悠久的城市。

它在政治、经济、文化和宗教等方面都扮演着重要角色。

巴塞尔市为瑞士联邦的行政中心之一。

根据联邦政府的统计数据，截至2001年底，全市共有人口546,200人。

其中瑞士籍居民为103,700人（占总人口数的53.8%），占全市人口总数的83.3%；境外居民为35,500人（占总人口数的8.9%），占全市人口总数的5.6%。

巴塞尔市区由两个大城市和两个小城市组成。

市中心位于海德大街，占地面积约5公顷，建于1879-1870年。

市内有许多银行、保险公司和许多证券交易所。

在市区东北部有一座建于十九世纪初期、高50米、直径为27米、重达910吨的大钟。

—— 1 —1 —。

欧美金融体系

May 2007 代理行知识讲座
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May 2007
代理行知识讲座
4. 美国金融监管体系
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美国的金融体系受到州和联邦两级监管机构的双重监管。主要由货币监理署、联邦储备体系、联邦存款保险公司三个联邦监管机构及州政府金融监管机构组成。 1）货币监理署
隶属于美国财政部，直接向国会报告，总监由总统任命，独立性强最早的联邦级银行管理机构，主要职责：审批国民银行的注册和分支行的设置，制定相应的管理条例，检查国民银行的资本营运等……
• 4）联邦金融机构监管委员会——金融监管的协调机制
• 为金融机构的监管制定统一的原则、标准以及报告形式
• 5）州政府管理机构——50个州均有，负责监督州立银行
May 2007
代理行知识讲座
5. 美国的联邦专业信贷机构（即政策性金融机构）
主要包括农业信贷机构、住房信贷机构、美国进出口银行和中小企业管理局等，均由政府出资设立，不以赢利为目的，服务于专门领域。
May 2007 代理行知识讲座
2.德国金融监管体系
1）监管机构：同时受到德国联邦银行（中央银行）和联邦金融服务监管局的监管，各自分担监管责任，密切合作。
因为1998年欧洲中央银行的成立，国家中央银行的功能被削弱。联邦金融服务监管局于2002年成立，由原来各自独立的银行监管机构、证券监管机构、保险监管机构合并而成，内设若干部门，监管不同的金融服务业机构（资本充足性、流动性、资产质量等）《银行法》是德国银行业经营的根本大法，包括对外资银行的监管。德国的资本市场相对来说受到的限制较小。
7. 我行在美国的主要代理行
美联银行（Wachovia）——4th largest bank holding

金融词典

全球储蓄过剩（GSG）HERA 住房及经济复苏法案The Foreign Correspondents’ Club of Japan 日本外国特派员协会Departments of Health and Human Services (HHS)美国卫生及公共服务部Social Security Administration (SSA)美国社会保障局ADBI Asian Development Bank InstituteAIDS acquired immunodeficiency syndromeASEAN Association of South-East Asian NationsASEAN+3 ASEAN + China, Japan and the Republic of KoreaBIMSTEC Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation CIS Commonwealth of Independent StatesCMI Chiang Mai InitiativeDAC Development Assistance Committee of the OECDEAS East Asia SummitESCAP Economic and Social Commission for Asia and the PacificFAO Food and Agriculture OrganizationFDI foreign direct investmentFTA free trade agreementGDP gross domestic productHIV human immunodeficiency virusID identityILO International Labour OrganizationIMF International Monetary FundLAC Latin America and the CaribbeanLDCs least developed countriesLLDCs landlocked developing countriesMDB multilateral development bankMDGs Millennium Development GoalsNGO non-governmental organizationODA official development assistanceOECD Organisation for Economic Cooperation and DevelopmentPPP purchasing power paritySAARC South Asian Association for Regional CooperationSIDS Small island developing statesSPC Secretariat of the Pacific CommunityTB TuberculosisUNDP United Nations Development ProgrammeUNESCO United Nations Educational, Scientific and Cultural OrganizationUNFPA United Nations Population FundUNICEF United Nations Children’s FundUNIFEM United Nations Development Fund for WomenVAT value added taxWDI World Development IndicatorsWFP World Food ProgrammeWHO World Health OrganizationWTO World Trade Organization美国铝业(AA)美国银行(BAC)全球五大风电企业之一的西班牙歌美飒（Gamesa）世界银行行长佐利克(Robert Zoellick)海峡两岸经济合作框架协议（ＥＣＦＡ）乔治-索罗斯(George Soros)欧洲人权法院(European Court of Human Rights)法国兴业银行(Societe Generale SA)(GLE)东京三菱日联银行(Bank of Tokyo-Mitsubishi UFJ Ltd)信用违约掉期(CDS)中海油总公司(CNOOC)渣打银行集团首席经济学家、全球研究部主管李籁思（Gerard Lyons）个人消费者金融保护局(Bureau of Consumer Financial Protection)United States Congress Senate Committee on Banking, Housing, and Urban Affairs美国参议院银行、住房和城市事务委员会FSMA2000=英国《金融服务及市场法令》Financial Service and Market Act 2000 CFD=Contract For Differece 差价合约FSA=英国金融服务管理局抵押贷款保险公司（mortgage insurer）新世纪金融公司（New Century Financial Corporation）寿险公司（life insurance companies）次级抵押贷款支持证券（RMBS）金融担保保险公司（financial guarantee insurance companies）国际财务报告标准（IFRSs）美国通用会计准则（US GAAP）公允价值（fair value）私募股权投资基金(private equity)经合组织保险和私人养老金委员会（IPPC）爱尔兰联合银行 Allied Irish Banks爱尔兰银行 Bank of Ireland PLC奥地利第一储蓄银行 Austria’s Erste Group Bank德国邮政银行 Deutsche Postbank AGWorld investment prosepects survey wips （联合国贸发会《世界投资前景调查》）IPA investment promotion agency 投资促进机构TNC Transnational company 跨国公司Promising investor-countries 最有投资价值的投资，这里的promising是有希望的、有前途、大有可为的意思Pay-as-you-go 现收现付Mobile capital流动资本Advers scenario 负面假设（场景、情形）Health care 公共卫生服务Medicaid：医疗补助（medic+aid）Medicare：医疗保险（medic+care）Social security contributions 社会保险缴款Social security tax 社会保险税Primary spending 基础支出（扣住利息支付的财政支出）Primary Fiscal Gap 基本财政缺口Public finance 公共财政（要比翻译成公共金融好）PIT personal Income Tax 个人所得税CIT Corporation Income Tax 企业所得税VAT Value Added Tas 增值税Commonwealth 联邦Commonwealth-state Relations 联邦-州关系General government spending 一般政府支出ARRA—American Recovery and Reinvestment Act(2009年美国复苏与再投资法案) 澳洲壳牌能源控股有公司(Shell Energy Holdings Australia)日本国土交通大臣前原诚司韩国文化体育观光部长官柳日本财政大臣野田佳彦(Yoshihiko Noda)纽约梅隆银行(Bank of New York Mellon)congressional budget office 美国国会办公室中国预托凭证(CDR)非银行金融机构（NBFCS）资产重组公司（ARCs）邓白氏（Dun & Bradstreet）咨询公司美国证券交易委员会(SEC)IPO(首次公开募股)摩根士丹利(MS)、摩根大通(JPM)、美国银行(BAC)和花旗集团(C)巴克莱银行(BCS)、瑞士信贷集团(CS)、德意志银行(DB)、高盛集团(GS)、加拿大皇家银行(RY)、和瑞士银行(UBS)纽约证券交易所(NYSE)美国商品期货交易委员会(CFTC)主席加里·詹斯勒(Gary Gensler)摩根士丹利(MS)、摩根大通(JPM)“多德-弗兰克法案”(Dodd-Frank Act)德国央行行长阿克塞尔-韦伯(Axel Weber)NBER（Naitonal Bureau of Economy Research）美国国家经济研究局全美独立企业联合会(National Federation of Independent Business——NFIB)本·伯南克(Ben S. Bernanke)、副主席威廉·达德利(William C. Dudley)、詹姆斯·布拉德(James Bullard)、伊丽莎白·杜克(Elizabeth A. Duke)、唐纳德·科恩(Donald L. Kohn)、桑德拉·皮亚纳托(Sandra Pianalto)、埃里克·罗森格林(Eric S. Rosengren)、丹尼尔·塔鲁洛(Daniel K. Tarullo)和凯文·瓦尔许(Kevin M. Warsh)；托马斯·霍利格(Thomas M. Hoenig)“格林斯潘对策”（―Greenspan put‖，有时也称之为“伯南克对策”，―Bernanke put‖）世贸组织《政府采购协定》(GPA )地方政府实体(Sub-Central Government Entities)(直译是下级中央政府实体，也有称次中央政府实体)，财政报告 call report房价波动 housing price volatility定价机制 pricing mechanism上市银行 listed bank票据产业 bill industrycash bond market 现券市场日均成交量 average daily turnover融资融券 securities borrowing and lendingAgricultural biomass industry 农村生物质能产业ASEAN Association of Southeast Asian Nation 东南亚国家联盟，简称“东盟”CDM Clean Development Mechannism 清洁发展机制CHP combined heat and power 热气联产CIAD-Center for integrated Agricultural Development 综合农业发展中心CIDA- Canadian International Development Agency 加拿大国际开发署CSPCB-Crop Straw Pricing Consultation Board 秸秆定价磋商GEF- Global Environment Facility 全球环境基金会GHG- Greenhouse Gas 全球环境基金会GTZ-German Agency for Technical Cooperation 德国技术合作公司Kfw—德国复兴开发银行LPG-Liquefied petroleum gas 液化石油气LPOG-Leading Group Office of Poverty Alleviation and Devepment国务院扶贫开发领导小组SIDA-Swedish International Development Cooperation Agency 瑞士国际开发合作署USAID-United States Agency for International Development 美国国际开发援助署EIRR=economical internal rate of return 经济内部回报率（收益率）FIRR=financial internal rate of return 财务内部回报率（收益率）O&M=operation and maintenance 运行与维护TSP= total suspended particles 总悬浮颗粒TCE= ton of coal equivalent 吨煤当量“现收现支(pay-as-you-go)”原则日本首相菅直人(Naoto Kan)“利差交易”(Carry Trade)西班牙首相何塞·刘易斯·罗德里格斯·萨帕特罗(Jose Luis Rodriguez Zapatero) 麦格理证券(Macquarie Securities)德国邮政银行(Postbank)葡萄牙商业银行(BCP)法国巴黎银行(BNP Paribas)瑞典北欧斯安银行(SEB)瑞典诺迪亚银行(NORDEA)奥地利厄斯特银行(Erste Bank)法律英语：Regulation 条例、规章Rule 规则Clause 泛指条款Section 节，也译作条Article 条 Articles 条例Provision 多指规定Stipulation 约定（而非法律规定）Part 编Chapter 章Section 节Article 条Paragraph 款Subparagraph 项Item 目中国海洋石油有限公司(CNOOC Ltd., CEO, 简称：中国海洋石油)欧洲央行(ECB)执委会成员汤普古格罗(Gertrude Tumpel-Gugerell)太平洋投资管理公司(PIMCO)比尔·格罗斯(Bill Gross)大卫·卢森博格(David Rosenberg)查德·克拉里达(Richard Clarida)所谓“就业不足率”(Under-employment Rate)，是指包括更希望获得全职岗位的兼职人员以及希望工作但却放弃寻找的人员在内的失业率。

2010年度国际主要商业银行在中国的市场份额及发展

银行名称中国市场份额及发展摩根大通 (JP Morgan Chase) 摩根大通在其年报披露了国家敞口(Country exposure)信息，主要是摩根大通寻求多元化经营，包括在全球范围内开展与信用风险相关的信贷业务、交易活动和投资业务。

摩根大通的国家敞口基于公司内部管理方法编制，其是根据资产的权属、对手方或担保方所在地区进行编制。

同时该等信息也需要向当地监管机构进行申报。

摩根大通在其年报披露了前十大并购市场的国家敞口，中国及香港地区分别列在第4名和第5名，详见附件一。

美国银行 (Bank of America) 美国银行在其年报披露了跨境敞口(Cross-border exposure)信息，主要是美国银行在全球范围内开展多元化经营所面临的国家敞口。

包括的内容同摩根大通一样，同时也是需要向当地监管机构进行申报。

美国银行在其年报披露了跨境敞口(Cross-border exposure)超过资产1%的信息，详见附件二。

同时美国银行还参股中国建设银行，双方开展战略合作业务，详见附件三。

花旗集团 (Citi Group) 年报未披露有关中国的定量信息。

汇丰控股 (HSBC Holdings) 汇丰控股在其年报披露了按客户群及环球业务所在国家/地区列示的税前利润，详见附件四。

同时，汇丰银行在中国设立的汇丰银行(中国)有限公司作为首批本地注册的外资法人银行于2007年4月2日正式开业，由设于香港特别行政区的母行——香港上海汇丰银行有限公司全资拥有，其前身是香港上海汇丰银行有限公司的原中国内地分支机构。

详见附件五。

德意志银行 (Deutsche Bank) 德意志银行早在于1872 年就在上海设立了首间办事处，并于2008年1月1日在北京正式注册成立法人银行–德意志银行(中国)有限公司(“德银中国”)。

德银中国是德意志银行集团的全资子公司，总部在北京，并在北京、上海、广州和天津开有分支行机构。

目前德银中国员工已经超过500人。

TED演讲：了解中国的崛起(无中文)

Understanding the rise of China了解中国的崛起Martin Jacques TED演讲：在TED伦敦沙龙会上，经济学家马丁·雅克Martin Jacques问：在西方我们对中国和它显著的崛起现象有多少认识？作为《当中国统治世界》的作者，他解释了西方国家常常对中国经济的快速增长力感到困惑的理由，他提出3个基础观点来帮助我们理解当代的中国现实和中国未来的展望。

正文：The world is changing with really remarkable speed. If you look at the chart at the top here, you'll see that in 2025, these Goldman Sachs projections suggest that the Chinese economy will be almost the same size as the American economy. And if you look at the chart for 2050, it's projected that the Chinese economy will be twice the size of the American economy, and the Indian economy will be almost the same size as the American economy. And we should bear in mind here that these projections were drawn up before the Western financial crisis.A couple of weeks ago, I was looking at the latest projection by BNP Paribas for when China will have a larger economy than the United States. Goldman Sachs projected 2027. The post-crisis projection is 2020. That's just a decade away. China is going to change the world in two fundamental respects. First of all, it's a huge developing country with a population of 1.3 billion people, which has been growing for over 30 years at around 10 percent a year.And within a decade, it will have the largest economy in the world. Never before in the modern era has the largest economy in the world been that of a developing country, rather than a developed country. Secondly, for the first time in the modern era, the dominant country in the world -- which I think is what China will become -- will be not from the West and from very, very different civilizational roots.Now, I know it's a widespread assumption in the West that as countries modernize, they also westernize. This is an illusion. It's an assumption that modernity is a product simply of competition, markets and technology. It is not. It is also shaped equally by history and culture. China is not like the West, and it will not become like the West. It will remain in very fundamental respects very different. Now the big question here is obviously, how do we make sense of China? How do we try to understand what China is? And the problem we have in the West at the moment, by and large, is that the conventional approach is that we understand it really in Western terms, using Western ideas. We can't. Now I want tooffer you three building blocks for trying to understand what China is like, just as a beginning.The first is this: that China is not really a nation-state. Okay, it's called itself a nation-state for the last hundred years, but everyone who knows anything about China knows it's a lot older than this. This was what China looked like with the victory of the Qin Dynasty in 221 B.C. at the end of the warring-state period -- the birth of modern China. And you can see it against the boundaries of modern China. Or immediately afterward, the Han Dynasty, still 2,000 years ago. And you can see already it occupies most of what we now know as Eastern China, which is where the vast majority of Chinese lived then and live now.Now what is extraordinary about this is, what gives China its sense of being China, what gives the Chinese the sense of what it is to be Chinese, comes not from the last hundred years, not from the nation-state period, which is what happened in the West, but from the period, if you like, of the civilization-state. I'm thinking here, for example, of customs like ancestral worship, of a very distinctive notion of the state, likewise, a very distinctive notion of the family, social relationships like guanxi, Confucian values and so on. These are all things that come from the period of the civilization-state. In other words, China, unlike the Western states and most countries in the world, is shaped by its sense of civilization, its existence as a civilization-state, rather than as a nation-state. And there's one other thing to add to this, and that is this: Of course we know China's big, huge, demographically and geographically, with a population of 1.3 billion people. What we often aren't really aware of is the fact that China is extremely diverse and very pluralistic, and in many ways very decentralized. You can't run a place on this scale simply from Beijing, even though we think this to be the case. It's never been the case.So this is China, a civilization-state, rather than a nation-state. And what does it mean? Well, I think it has all sorts of profound implications. I'll give you two quick ones. The first is that the most important political value for the Chinese is unity, is the maintenance of Chinese civilization. You know, 2,000 years ago, Europe: breakdown -- the fragmentation of the Holy Roman Empire. It divided, and it's remained divided ever since. China, over the same time period, went in exactly the opposite direction, very painfully holding this huge civilization, civilization-state, together.The second is maybe more prosaic, which is Hong Kong. Do you remember the handover of Hong Kong by Britain to China in 1997? You may remember what the Chinese constitutional proposition was. One country, two systems. And I'll lay a wager that barely anyone in the West believed them. "Window dressing. When China gets its hands on Hong Kong, that won't be the case." Thirteen years on, the political and legal system in Hong Kong is as different now as it was in 1997. We were wrong. Why were we wrong? We were wrong because we thought, naturally enough, in nation-state ways. Think of German unification, 1990. What happened? Well, basically the East was swallowed by the West. One nation, one system. That is the nation-state mentality. But you can't run a country like China, a civilization-state, on the basis of one civilization, one system. It doesn't work. So actually the response of China to the question of Hong Kong -- as it will be to the question of Taiwan -- was a natural response: one civilization, many systems.Let me offer you another building block to try and understand China -- maybe not sort of a comfortable one. The Chinese have a very, very different conception of race to most other countries. Do you know, of the 1.3 billion Chinese, over 90 percent of them think they belong to the same race, the Han? Now, this is completely different from the world's [other] most populous countries. India, the United States, Indonesia, Brazil -- all of them are multiracial. The Chinese don't feel like that. China is only multiracial really at the margins. So the question is, why? Well the reason, I think, essentially is, again, back to the civilization-state. A history of at least 2,000 years, a history of conquest, occupation, absorption, assimilation and so on, led to the process by which, over time, this notion of the Han emerged -- of course, nurtured by a growing and very powerful sense of cultural identity.Now the great advantage of this historical experience has been that, without the Han, China could never have held together. The Han identity has been the cement which has held this country together. The great disadvantage of it is that the Han have a very weak conception of cultural difference. They really believe in their own superiority, and they are disrespectful of those who are not. Hence their attitude, for example, to the Uyghurs and to the Tibetans.Or let me give you my third building block, the Chinese state. Now the relationship between the state and society in China is very different from that in the West. Now we in the West overwhelmingly seem to think -- in these days at least -- that the authority and legitimacy of the state is a function of democracy. The problem with this proposition is that the Chinese state enjoys more legitimacy and more authority amongst the Chinese than is true with any Western state. And the reason for this is because -- well, there are two reasons, I think. And it's obviously got nothing to do with democracy, because in our terms the Chinese certainly don't have a democracy. And the reason for this is, firstly, because the state in China is given a very special -- it enjoys a very special significance as the representative, the embodiment and the guardian of Chinese civilization, of the civilization-state. This is as close as China gets to a kind of spiritual role.And the second reason is because, whereas in Europe and North America, the state's power is continuously challenged -- I mean in the European tradition, historically against the church, against other sectors of the aristocracy, against merchants and so on -- for 1,000 years, the power of the Chinese state has not been challenged. It's had no serious rivals. So you can see that the way in which power has been constructed in China is very different from our experience in Western history. The result, by the way, is that the Chinese have a very different view of the state. Whereas we tend to view it as an intruder, a stranger, certainly an organ whose powers need to be limited or defined and constrained, the Chinese don't see the state like that at all. The Chinese view the state as an intimate -- not just as an intimate actually, as a member of the family -- not just in fact as a member of the family, but as the head of the family, the patriarch of the family. This is the Chinese view of the state -- very, very different to ours. It's embedded in society in a different kind of way to what is the case in the West.And I would suggest to you that actually what we are dealing with here, in the Chinese context, is a new kind of paradigm, which is different from anything we've had to think about in the past. Know that China believes in the market and the state. I mean, Adam Smith, already writing in the late 18th century, said, "The Chinese market is larger and more developed and more sophisticated than anything in Europe." And, apart from the Mao period, that has remained more or less the case ever since. But this is combined with an extremely strong and ubiquitous state. The state is everywhere in China. I mean, it's leading firms -- many of them are still publicly owned. Private firms, however large they are, like Lenovo, depend in many ways on state patronage. Targets for the economy and so on are set by the state. And the state, of course, its authority flows into lots of other areas -- as we are familiar with -- with something like the one-child policy.Moreover, this is a very old state tradition, a very old tradition of statecraft. I mean, if you want an illustration of this, the Great Wall is one. But this is another, this is the Grand Canal, which was constructed in the first instance in the fifth century B.C. and was finally completed in the seventh century A.D. It went for 1,114 miles, linking Beijing with Hangzhou and Shanghai. So there's a long history of extraordinary state infrastructural projects in China, which I suppose helps us to explain what we see today, which is something like the Three Gorges Dam and many other expressions of state competence within China. So there we have three building blocks for trying to understand the difference that is China -- the civilization-state, the notion of race and the nature of the state and its relationship to society.And yet we still insist, by and large, in thinking that we can understand China by simply drawing on Western experience, looking at it through Western eyes, using Western concepts. If you want to know why we unerringly seem to get China wrong -- our predictions about what's going to happen to China are incorrect -- this is the reason. Unfortunately, I think, I have to say that I think attitude towards China is that of a kind of little Westerner mentality. It's kind of arrogant. It's arrogant in the sense that we think that we are best, and therefore we have the universal measure. And secondly, it's ignorant. We refuse to really address the issue of difference. You know, there's a very interesting passage in a book by Paul Cohen, the American historian. And Paul Cohen argues that the West thinks of itself as probably the most cosmopolitan of all cultures. But it's not. In many ways, it's the most parochial, because for 200 years, the West has been so dominant in the world that it's not really needed to understand other cultures, other civilizations. Because, at the end of the day, it could, if necessary by force, get its own way. Whereas those cultures -- virtually the rest of the world, in fact, which have been in a far weaker position, vis-a-vis the West -- have been thereby forced to understand the West, because of the West's presence in those societies. And therefore, they are, as a result, more cosmopolitan in many ways than the West.I mean, take the question of East Asia. East Asia: Japan, Korea, China, etc. -- a third of the world's population lives there. Now the largest economic region in the world. And I'll tell you now, that East Asianers, people from East Asia, are far more knowledgeable about the West than the West is about East Asia. Now this point is very germane, I'mafraid, to the present. Because what's happening? Back to that chart at the beginning, the Goldman Sachs chart. What is happening is that, very rapidly in historical terms, the world is being driven and shaped, not by the old developed countries, but by the developing world. We've seen this in terms of the G20 usurping very rapidly the position of the G7, or the G8. And there are two consequences of this. First, the West is rapidly losing its influence in the world. There was a dramatic illustration of this actually a year ago -- Copenhagen, climate change conference. Europe was not at the final negotiating table. When did that last happen? I would wager it was probably about 200 years ago. And that is what is going to happen in the future.And the second implication is that the world will inevitably, as a consequence, become increasingly unfamiliar to us, because it'll be shaped by cultures and experiences and histories that we are not really familiar with, or conversant with. And at last, I'm afraid -- take Europe; America is slightly different -- but Europeans by and large, I have to say, are ignorant, are unaware about the way the world is changing. Some people -- I've got an English friend in China, and he said, "The continent is sleepwalking into oblivion." Well, maybe that's true, maybe that's an exaggeration. But there's another problem which goes along with this -- that Europe is increasingly out of touch with the world -- and that is a sort of loss of a sense of the future. I mean, Europe once, of course, once commanded the future in its confidence. Take the 19th century, for example. But this, alas, is no longer true.If you want to feel the future, if you want to taste the future, try China -- there's old Confucius. This is a railway station the likes of which you've never seen before. It doesn't even look like a railway station. This is the new Guangzhou railway station for thehigh-speed trains. China already has a bigger network than any other country in the world and will soon have more than all the rest of the world put together. Or take this: now this is an idea, but it's an idea to be tried out shortly in a suburb of Beijing. Here you have a megabus, on the upper deck carries about 2,000 people. It travels on rails down a suburban road, and the cars travel underneath it. And it does speeds of up to about 100 miles an hour. Now this is the way things are going to move, because China has a very specific problem, which is different from Europe and different from the United States: China has huge numbers of people and no space. So this is a solution to a situation where China's going to have many, many, many cities over 20 million people.Okay, so how would I like to finish? Well, what should our attitude be towards this world that we see very rapidly developing before us? I think there will be good things about it and there will be bad things about it. But I want to argue, above all, a big-picture positive for this world. For 200 years, the world was essentially governed by a fragment of the human population. That's what Europe and North America represented. The arrival of countries like China and India -- between them 38 percent of the world's population -- and others like Indonesia and Brazil and so on, represent the most important single act of democratization in the last 200 years. Civilizations and cultures, which had been ignored, which had no voice, which were not listened to, which were not known about, will have adifferent sort of representation in this world. As humanists, we must welcome, surely, this transformation, and we will have to learn about these civilizations.This big ship here was the one sailed in by Zheng He in the early 15th century on his great voyages around the South China Sea, the East China Sea and across the Indian Ocean to East Africa. The little boat in front of it was the one in which, 80 years later, Christopher Columbus crossed the Atlantic. (Laughter) Or, look carefully at this silk scroll made by ZhuZhou in 1368. I think they're playing golf. Christ, the Chinese even invented golf.Welcome to the future. Thank you.(Applause)。

List of Banks in Indonesia

■ PT Bank Multi Arta Sentosa[2] ■ PT Bank Pundi Indonesia, formerly
known as Bank Eksekutif Internasional [5] (http://www.bankpundi.co.id) ■ PT Bank Royal Indonesia [2] ■ PT Bank Sahabat Purba Danarta[2] ■ PT Bank SBI Indonesia, formerly known as Bank Indomonex (Bank SBI Indonesia) (/)[2][12] ■ PT Bank Sinar Harapan Bali (Bank Sinar Harapan Bali) (http://www.banksinar.co.id/)[2] ■ PT Bank Swaguna (Bank Swaguna) (http://www.bankswaguna.co.id/)[2][13] ■ PT Bank Syariah Bukopin+, formerly known as PT Bank Persyarikatan (Bank Syariah Bukopin) (http://www.syariahbukopin.co.id)[2][14] ■ PT Bank Tabungan Pensiunan Nasional Tbk. (Bank BTPN) (/)[2][15] ■ PT Bank UIB[2] ■ PT Bank Victoria International Tbk. (Bank Victoria) (http://www.victoriabank.co.id/)[2][16] ■ PT Bank Yudha Bhakti [2] ■ PT Centratama Nasional Bank[2] ■ PT Liman International Bank[2] ■ PT Nationalnobu[2] ■ PT Prima Master Bank [2]

prime_brokerage_BNP

Prime Brokerage Serviceso Combining the capital and counterparty rating of a world-class financial leader with13 years* of Prime Brokerage experienceo Providing cutting-edge technology, global reach and award-winning derivatives expertise** o Demonstrating a proven commitment to service through a client-driven culture * Following BNP Paribas' acquisition of Bank of America's Prime Brokerage activities** RISK awards 2009, Equity Derivatives House of the Year1BNP Paribas Prime Brokerage provides a fully integrated front-to-back solution for alternative and traditional investment managers. Thirteen years of prime brokerage experience* has taught us that excellent client-service is non negotiable. All of our clients benefit from our high-touch presence without forgoing the advantages of a truly global bank: global trading capabilities, a strong balance sheet, diversified revenue sources, and a resilient credit rating.Truly innovative, BNP Paribas Prime Brokerage has a focus on quickly adapting its offerings to market developments, through its devoted structuring group, award-winning derivatives expertise, and a lot of thought put into the ‘where next’.*Due to the acquisition of Bank of America’s Prime Brokerage activitiesOver the following pages we aim to provide an overview of Prime Brokerage at BNP Paribas,and we highlight the offerings that make us stand out from the crowd.B N P P A R I B A SP R I M E B R O K E R A G E S E R V I C E S 2oooF I N A N C I N GBNP Paribas’ comprehensive financing solutions offer a simple and flexiblemeans to enhance your portfolio strategies. Expand, diversify or adjust the riskprofile of a portfolio under the umbrella of a global bank with a $2.9 trillion*balance sheet and industry-leading credit rating.BNP Paribas’ financing solutions team drives innovation through a strong focuson regulatory, risk and trading issues, reacting efficiently to developmentswithin the business environment, and making sure that you stay ahead of thegame.*As of March 2009Reg-T and Arranged Financingo All BNP Paribas custody and financing entities have at minimum theparental guarantee of BNP Paribas, an Aa1/AA credit-rated counterparty o Enhanced financing levels through a capital-efficient margin structureo Innovative financing solutionsEquity Swaps, Portfolio Swaps and Contract for Difference*o Arranged Financingo Customized basket swaps*Non-U.S. Persons Only3T E C H N O L O G Y A N D R E P O R T I NG o Front to back technology solutions, order management, Real Time PnL,online wire payments, static and dynamic reportingo Open architecture supports multi-prime, multi broker and flexible reporting o Application Service Provider modelw w w.p r i m e b r o k e r.c o m o Seamless on-boarding process for new and existing client accountso Liaise with clients and internal business partners during documentationand set-up processT R A N S I T I O N T E A M 4o Highly competitive rates on hard-to-borrow names.o $150 Bn+ supply relationships with 200 banks and broker dealers in theAmericas, Europe and Asiao $50 Bn matched book, leveraging BNP Paribas’ ~ $2.9 Trillion AA balance sheet*o Exclusive portfolio bid capabilitieso Access to BNP Paribas internal domestic and international supplyo Daily information flowo More than 30 client-facing professionals covering the US, over 30 traders in Europe and Asia*As of March 2009Global Securities Lending prides itself on its world-class capabilities. We differentiate ourselves via a deep-bench of relationships on both sides of the street, a strong focus on automation, and a results-driven approach.Our advanced technologies allows to actively manage our U.S. securities inventory based on real-time market demand rather than simply on the basis of rebates. Our innovative Securities Lending technology includes an online short approval system for U.S. based securities that facilitates your short selling process in a timely manner.Our proprietary software is accessible over a secure internet connection and will automatically confirm availability, allowing quick and efficient execution.More than 80% of our daily borrow requirements are filled and booked automatically, allowing our team to focus on the hard-to-borrow names and serve you better.G L O B A L S E C U R I T I E SL E N D I N Gooo 5Capital Introduction has been a critical and award-winning component of the Prime Brokerage business for many years. Offering an individualized service and numerous opportunities to meet investors and receive timely feedback, the desk provides intelligent introductions and a wide breadth of activities and events.o Global team with a presence in Chicago, Dallas, New York, San Franciscoand Londono Access to a diverse group of 2,000+ investors globallyo Focus on pension funds, foundations, endowments, consultants and family officeso Deep investor relationships at senior levelsC A P I T A L I N T R OD U C T I O N Global Execution Services is an integrated platform, providing clients with all execution-related services on cash equities and listed derivatives.With direct market access to a large global network and the collective advantage of large internal and external pools of liquidity in the US, Europe and Asia, Global Execution Services fuses advanced capabilities with state-of the-art connectivity.G L O B A L E X E C U T I O NS E R V I C ES6contactsSAMUEL HOCKING JP MUIRcomplete and it should not be relied upon as such. Financial transactions involve risks of variation in interest rates, exchange rates, securities, commodities or indices. In view of these risks BNP Paribas’ clients should have the requisite knowledge and experience to assess the characteristics and risks associated with each contemplated financial transaction. BNP Paribas will provide any additional information, reasonably requested by the client, in order to enable it to assess the risks and characteristics of the transaction. Accordingly, when the client enters into the contemplated financial transaction, he will be deemed to understand and accept the terms, conditions and risks associated with it. BNP Paribas’ clients are required to undertake a detailed analysis of all financial, legal, regulatory, accounting and tax issues raised by any transaction they are contemplating, so as to evaluate the merits and suitability of the transaction and should not rely on BNP Paribas for this. Examples of possible transactions contained in this document are set out for illustrative purposes only and do not constitute any form of offer from BNP Paribas to trade on such terms or constitute an indication that it is possible to trade on those precise terms and shall not be considered investment advice or as a recommendation to enter into that transaction. This report is the proprietary information of BNP Paribas and may not be reproduced or otherwise disseminated in whole or in part without BNP Paribas written consent.BNP Paribas (2008). All rights reserved.。

AsianHedgeFundsATaleofThree：亚洲对冲基金的一个故事，三

Asian Hedge Funds: A Tale of Three CitiesMELVYN TEO1The hedge fund industry in Asia is dominated by a trio of financial centres: Hong Kong, Singapore, and Sydney. In this inaugural issue of the statistical digest, we provide a broad overview of the hedge fund industry in Asia and zero in on issues relevant to investors. Our analysis will be organized along the lines of manager location. Accordingly, we ask the following questions: How are hedge fund assets deployed across the three centres? What investment strategies do these assets partake in? Does the risk-adjusted performance of those assets differ across centres? To shed light on these issues, we employ fund return, assets under management, and characteristics data from the merged May 2007 Eurekahedge and Asiahedge database2.I. SIZE, STYLE, AND INVESTMENT REGION DISTRIBUTION1 Melvyn Teo is Assistant Professor of Finance and Director, BNP Paribas Hedge Fund Centre at the Singapore Management University. E-mail: *****************.sg. Phone: +65-6828-0735. Chuin-Hao Lim provided excellent research assistance. I thank Peter Douglas, Luz Foo, and Narayan Naik for comments. The views expressed here are my own and do not represent those of BNP Paribas or Singapore Management University.2 There are 888 live and dead Asian focused funds (Asia ex Japan, Asia incl Japan, Japan, Australia/New Zealand, Greater China, India, Korea, and Taiwan) in the May 2007 Eurekahedge database. By merging with the Asiahedge database, we include an additional 293 Asian focused funds. The characteristics data, e.g., size and fees, are valid as of April 2007. Future issues of the digest will analyze hedge fund data from other data sources as well.To get the ball rolling, we plot in Figure 1 the distribution of hedge funds by assets under management3 (henceforth AUM) for the three financial centres.4 We group funds into the following US dollar size categories: 0-10m, 10-50m, 50-100m, 100-500m, and 500m+. Clearly from Figure 1, the size distribution is fairly similar across centres. The main difference is that Singapore and Sydney attract a larger proportion of smaller funds (0-10m and 10-50m funds) while Hong Kong draws a larger proportion of bigger funds (100-500m funds). That said, Sydney has the highest proportion of funds in the largest size category (500m+ funds) reflecting the significant variation in the size of hedge funds managed from Sydney. The difference in size distribution between Hong Kong and Singapore hedge funds is consistent with the regulatory differences between the two countries.There are also interesting differences in the investment style distribution of funds across centres. In Figure 2, we plot the distribution of hedge funds according to investment style. We find that in Hong Kong, most 3 To the extent that funds list on databases for marketing reasons, all commercial databases (including Eurekahedge and Asiahedge) are likely to underestimate the number of very large funds.4 We assume that funds managed from Australia are managed from Sydney. In reality funds managed from Australia are located mostly in Sydney and Melbourne. Funds in Sydney comprise about three-quarters of all funds managed from Australia (according to the Asiahedge database). Unlike Asiahedge, Eurekahedge does not include city information in the manager location field.of the funds (58%) are Equity Long/Short funds. In contrast, there is a greater diversity of funds in Singapore and Sydney. Specifically, Sydney has a preponderance of CTA funds, while Singapore has a disproportionate number of Macro funds. These results reflect the presence of significant opportunities for Equity Long/Short funds in the Greater China market, the importance of commodities to the Australian economy, and the dominance of Singapore as a currency trading hub.Figure 3: Distribution of funds by investment geographyTo further investigate their investment opportunity set, we also stratify funds by investment geography. The pie chart in Figure 3 presents the distribution of funds based on the location of their investment markets. Not surprisingly, for geographical proximity reasons, we find that most hedge funds investing in Greater China are managed from Hong Kong and all funds investing in Australia/New Zealand are managed from Sydney. Sydney also has the highest proportion of Global funds (38%) while Singapore has the highest proportion of Japan funds (14%). The higher proportion of Japan funds operating from Singapore versus Hong Kong seems puzzling given the proximity of the latter to Tokyo. One view is that married Japanese expatriates are attracted to the family friendly living conditions in Singapore.II. FACTOR AND CORRELATION ANALYSISFigure 4: Heat map of hedge fund portfolio and principal component R-squares0.10.20.30.40.50.60.70.80.91Next we probe deeper and investigate the drivers underlying hedge fund returns and whether those drivers vary for funds operating in the same investment style and geography, but managed from different centres. Principal components analysis is a convenient tool for summarizing the main factors driving portfolio returns. We use principal components analysis to derive the main components or factors driving hedge fund portfolios. To start, the equity-weighted hedge fund portfolios we analyze are investment style and geography intersections (e.g., Equity Long/Short, Asia ex Japan). Altogether we have 11 style and geography intersections with sufficient funds to form portfolios. To these we add the group of CTAs and Macro funds managed from the three centres. With the 13 hedge fund portfolios 5, we can derive 13 principal components or factors.The heat map in Figure 4 illustrates the R-squares of the top ten components (based on explanatory power) relative to the hedge fund portfolios. That is, the heat map shows how well each component explains the variation in returns for each hedge fund style/geography portfolio in a linear regression setting. A darker cell in Figure 4 indicates that the principal component better explains variation in the corresponding hedge fund portfolio’s returns.The colors of the cells in Figure 4 suggest that return variation in hedge funds is driven more by investment style than investment geography. For instance, the principal component that best explains Equity Long/Short funds is P1 regardless of the geographical region. P2, P6, and P8 are the factors driving Macro, CTA, and distressed funds, respectively. Only multi-strategy funds seem to be explained by a variety of factors corresponding to different investment markets.5The sample period is from January 1998 to March 2007, unless noted otherwise.Figure 5: Heat map of hedge fund portfolio and benchmark correlations10.80.60.40.2-0.2 Having analyzed the broad differences in factors across investment style/geography intersections, we now turn to differences within those intersections. Given the preponderance of Equity Long/Short funds in the region, we focus on this investment style to ensure that each style/geography/manager location intersection has sufficient funds for the construction of portfolio returns. We report in heat map form the correlations between hedge fund portfolios. We also report the correlations of those portfolios with various equity benchmarks: Nikkei 225, MSCI Asia, MSCI Asia ex Japan, and MSCI China.The heat map in Figure 5 depicts a rich pattern of correlations. It indicates that Asia ex Japan and Asia incl Japan hedge funds managed from Sydney are less correlated than their hedge fund counterparts managed from Singapore and Hong Kong. The same can be said of Japan hedge funds managed from Singapore. One reason for this, at least for Asia incl Japan hedge funds managed from Sydney and Japan hedge funds managed from Singapore, is that they are less exposed to their corresponding equity markets, i.e., as proxied by the MSCI Asia and Nikkei 225 indices, respectively. Overall, based on the correlations between the Equity Long/Short hedge fund portfolios and equity benchmark returns, Equity Long/Short hedge funds seem fairly well-explained by their respective equity benchmarks. This also suggests that the P1 principal component featured in Figure 4, which well-explains Asian Equity Long/Short style returns, is an Asian equity factor.ANALYSISIII. PERFORMANCENext, to compare hedge fund alpha of Equity Long/Short funds, we measure performance relative to the corresponding equity indices: Nikkei 225, MSCI Asia, and MSCI Asia ex Japan.6 We exclude Greater China funds from the analysis since there are no Equity Long/Short Greater China funds in Singapore and Sydney. We also include funds from US/UK to explore the return differential between Asian funds investing from Asia and Asian funds investing from distant locations (US and UK). For robustness, we investigate both the cross-sectional distribution of hedge fund alpha as well as the performance of fund portfolios stripped of their return covariation with equities. 7Figure 6 graphs the distribution of fund alpha for Equity Long/Short funds with at least 30 months of return observations. The funds are grouped by manager location. The difference in alphas between nearby (Hong Kong, Singapore, and Sydney) and distant (US and UK) funds is highly suggestive of a local informational advantage. On average Asian Equity Long/Short funds managed from the US/UK underperform Asian Equity Long/Short funds managed from Hong Kong, Singapore, and Sydney by about 6.79% per year or 0.494% per month. This difference is statistically significant at the 1% level. Within Asian managed funds, Hong Kong and Sydney funds seem to deliver somewhat superior performance due to the presence of some stellar funds in the right tail of the alpha distribution. However the difference in performance between Hong Kong (or Sydney) managed funds and Singapore managed funds is statistically insignificant at the 5% level.Figure 6: Cross-sectional distribution of6 The factor model that we use to adjust for risk is the CAPM. The market factors we use for Japan, Asia ex Japan, and Asia incl Japan funds are the return on the Nikkei 225 Index, the return on the MSCI Asia ex Japan index, and the return on the MSCI Asia index, respectively. To find beta, the excess return on the fund portfolio is regressed on a constant and the excess return on the market. Excess returns are returns in excess of the risk free rate which is taken off Kenneth French’s website.7 Note that hedge fund returns from databases are likely to be affected by various database induced biases including survivorship bias, backfill bias, incubation bias, and liquidation bias. Since our data samples include both dead and live funds, survivorship bias is minimized. Our results on a local information advantage hold to the extent that these biases affect both the nearby and distant fund portfolios equally.In Figure 7, we breakdown the analysis by investment geography (Asia ex Japan, Asia incl Japan, and Japan) and plot the cumulative risk-adjusted returns of the style/geography/manager location intersections. We find that the underperformance of US/UK funds persists for all three geographical regions. The equal-weighted portfolio of funds managed from Hong Kong, Singapore, and Sydney outperforms the equal-weighted portfolio of funds managed from the US/UK by 3.90%, 2.22%, and 3.55% per year for funds investing in Asia ex Japan, Asia incl Japan, and Japan, respectively. Further, the difference in means is statistically significant at the 5% level for funds investing in Asia ex Japan and Japan.Also, within Asia, the over performance of Hong Kong funds is confined to the Asia ex Japan and Asia incl Japan regions. One view is that the geographical proximity of Hong Kong to mainland China allows Asia focused funds in Hong Kong to better take advantage of the attractive investment opportunities in China, a large emerging economy. For example, fund managers based in Hong Kong can better gauge the economic prospects of Chinese firms by visiting upstream (suppliers) and downstream firms (consumers) in China.Figure 7: Cumulative market-adjusted returns by manager locationIV. SUMMARYIn this issue of the statistical digest, we have used a fairly unique lens to view hedge funds: manager location. We uncover differences in size, investment strategies, and investment geography between funds managed from Hong Kong, Singapore, and Sydney. Funds managed from Hong Kong tend to be Equity Long/Short funds between US$100m to US$500m in size. Funds in Singapore tend to be smaller while funds in Sydney demonstrate significant variation in assets under management. Sydney attracts a disproportionate number of CTA funds while Singapore attracts a disproportionate number of Macro and Japan focused funds.We also show that there are systematic differences in risk exposures between funds managed from the three centres. Asia ex Japan and Asia incl Japan Equity Long/Short funds managed from Sydney tend to have lower market exposures relative to other Asian funds. Similarly, Japan focused Equity Long/Short funds managed from Singapore tend to have a lower exposure to the Nikkei 225 index relative to other Japan focused funds.Finally, our performance analysis reveals that funds managed from Asia outperform funds managed from the US and the UK. A local informational advantage manifests in Asia and this translates to differences in risk-adjusted returns between nearby and distant fund portfolios of around 2 and 4% per year.8 While Asian Equity Long/Short funds managed from Hong Kong outperform those managed from Singapore and Sydney, we hypothesize that some of the over performance may be driven by Hong Kong’s geographical proximity to China. These results are relevant to hedge fund investors considering an allocation to Asia.8 Note that our results cannot be explained by the effects of AUM on fund returns. Some industry practitioners argue that diseconomies of scale exist in the hedge fund industry. We have monthly AUM information for the Eurekahedge database and can empirically test this hypothesis for Eurekahedge Asian Equity Long/Short hedge funds. We estimate a Fama and MacBeth (Journal of Political Economy, 1973) cross-sectional regression of month t fund returns (dependent variable) on month t-1 fund AUM (independent variable) and a constant, and find that fund AUM has statistically insignificant (at the 10% level) explanatory power on future fund returns.。

世界500强公司简介(完整版)

#1, 沃尔玛(Wal-Mart Stores)沃尔玛所属行业：综合商业(General Merchandisers)公司简介：沃尔玛公司由美国零售业传奇人物山姆·沃尔顿先生于1962 年在阿肯色州成立。

经过40 多年的发展，已经成为美国最大的私人雇主和世界上最大的连锁零售商。

目前，沃尔玛在全球开设了超过7,000 家商场，员工总数190 多万人，分布在全球16 个国家。

每周光临沃尔玛的顾客超过1 亿人次。

首席执行官（CEO）：Michael T. Duke雇员人数：2100000国家：美国(U.S)公司总部所在城市：本顿维尔(Bentonville)官方网站：#2, 荷兰皇家壳牌石油公司(Royal Dutch Shell)荷兰皇家壳牌石油公司所属行业：炼油(Petroleum Refining)公司简介：壳牌是一家国际能源和化工集团，总部位于荷兰海牙，Peter Voser（傅赛）担任集团首席执行官。

壳牌的战略是为了巩固壳牌作为油气行业领导者的地位，以提供有竞争性的股东回报，同时以负责任的方式，帮助满足世界的能源需求。

壳牌上游业务的发展重点是勘探新的石油和天然气资源，开发大型项目，以技术和经验为资源拥有者带来价值。

在下游业务，壳牌的重点是通过运营现有资产和在增长型市场进行选择性投资，实现持续的现金流。

首席执行官（CEO）：Peter Voser雇员人数：102000国家：荷兰(Netherlands)公司总部所在城市：海牙(The Hague)官方网站：#3, 埃克森美孚(Exxon Mobil)埃克森美孚所属行业：炼油(Petroleum Refining)公司简介：埃克森美孚公司是世界领先的石油和石化公司，由约翰·洛克菲勒于1882年创建，总部设在美国得克萨斯州欧文市。

埃克森美孚通过其关联公司在全球大约200个国家和地区开展业务，拥有8.6万名员工，其中包括大约1.4万名工程技术人才和科学家。

EN_2013_AML Questionnaire - Wolfsberg

I.
General AML Policies, Practices and Procedures:
1. Is the AML compliance program approved by the FI’s board or a senior committee? Y• Cf Comments Y•
N—e
•
No N-e N-e N—e N-e
•
•
•
Y
•
N-e
VI. AML Training
23. Does the FI provide AML training to relevant employees that includes: • Identification and reporting of transactions that must be reported to government authorities. • Examples of different forms 0f money laundering involving the FI’s products and services. • Internai policies to prevent money laundering. 24. Does the FI retain records 0f its training sessions including attendance_records_and_relevant_training_materials_used? 25. Does the FI communicate new AML related laws or changes to existing_AML_related_policies_or_practices_to_relevant_employees? 26. Does the FI employ third parties to carry out some of the functions of_the_FI? 27. If the answer to question 26 is yes, does the FI provide AML training to relevant third parties that includes: • Identification and reportirig of transactions that must be reported to government authorities. • Examples of different forms of money laundering involving the FI’s products and services. • Internai_policies_to_prevent_money_laundering. Y

次贷危机中美国破产倒闭的银行

2007年以来美国次贷危机中破产倒闭的美国商业银行2006年年末以來.关国经济凸显出的最大问邂・就腿房地产市场的走向问題：而房地产市场最棘手的问药则足厉贷何也.从2006年初开始.寒沅席卷关田厉地产市场.地产簡心惊胆战."炒厉客”獄哭无泪.如果贷狀利率不斯第升利房价继续走低・无疑将有更炙的次级贷敕公可被抱下水.•些“优息级”贷默者也可能无力偿还贷默•在20C6年获得次级抵押贷狀的关田人中・有3爪可能无法及时还贷. 因此而付不起厉贷面临在年底火去房产风険的关田人将达到220万人"2007年以来•美出次级抵押贷次1冷场血约卑数殖升全卩U年筒岛・M场扒心会演变成UU?d 80年代災国備諒伫贷协会瀝临大詁倒闭的趙级金融凤SL为了安抚市场,芙国财政部官员日前衣示，矣国政府正在密切关注次级按揭贷款行业出现的何题,并相信目1»的局势童呵以控制的-•4/1 2 □，关国第.大次级抵押贷款公诃妖砂纪佥融（New Camuy Financ讪川诩破产保沪・成为吳国地产业低迷时期说大的味抵押贷枚机构破产案。

羌IN第：大次级抵押贷款机构新世纪金融公司2｝丨向法阳卩请破产保护，并直布汁划裁誡半以上员工和出雪公司犬部分财产•沒公司计划&M32OO名员工・约占员工总数的54%.该公祠希唱此举彪使其任寻找买主时处『更有利的位忆新Ht纪金融公司甘席执行官布拉徳英里斯在•份声明中孤公词強他出种种努力以繼特运行。

但目前看來・根18破产法第十一章寻求破产保护是訓找潜在买主.让员工堆级得到匸作的处好途往。

新1比纪金舷公司此的曽农応己经U 1・39亿芙兀价恪将实贷款服务龙务汨售绐E林顿（CARRINGTON）依木洽理公肌不过.此笔交易还需御到破产法院的批准。

近年来•由于羌国房地产山•场持续降臥偿贷违约现象大址出现，使紂包扌占新世纪金触公呵托内的房贷机构变到沉航打击，近几个力来.关国C竹数卜家房贷机构倒闭日本四大证券公可I月31日分别发农的财务报告显示.从2（M）7年4 H至12月三个李度里.日本刑穂证券公可的亏摄SWf达1967亿日元（约106日元合1芙元，］&6亿羌元）; 淡日联证霁公司纯利润减少了33.3%,仅为181亿I］元,55村证券公讶的纯利润为888亿II元, 同比减37.7%：文和证券公叩纯利润减/>7 113%.为593亿日元•其中.瑞穆证券公可的财报显示.到去年12月底为止的三个季度里,该公司与次贷危机和关的损失达到2270亿口元（21.4亿茨元人而2007财年諭两个季度的损失仅为3S0亿日氐餒至2007年12 Hl*.门本处人锂行纯团菱UFJ金慰集团囚关国次级住厉抵押贷款市场危机而逋妥的损失约为500亿口元（I关元约合 107 H 元）.韩国金融监倂公员会5U说・絃至去年12刃底・口国7家银行遇雯®关国次贷相关的娛失达5.63亿关元•舫囚金融U：i样蚕员会衣示.因投资干与次贷相关的债务抵押债券（CDO）・I述7家银行冈此逍受彌失•其中・幽日第：夬根行——友利fiiffW失城兄达到4.45亿类元.氏次是韓国农业介作社IftfW（NACF）・典拥失达到】.07亿吳元.英闵次贷危机熔发坊・抵押贷晟借我人违约率大幅鶴升・&敢以这均贷款为祗础的CDO类價并妙约冈険痕增.价格人趺.投资「这类倘券的金脏机构冈此检失惨用，瑞l：«Ul 2007年的-m&«i迖捌44亿躅1:法郎.这是瑞士ftl行10年以帅定成合并以来.竹次披鋳邙度切阪这笨獣洲地大的银行昨M ｛足的公告.受到次贷资产咸计140亿关元的彫响• 2007年四节发谀行亏损125亿瑞士法郎（约合114亿芙元）.创历史赧高亏换纪录。

BNP PARIBAS

BNP PARIBAS : A worldwide leader in Energy, Commodities, Export & Project FinanceDominique Remy Global Head of ECEPMarch 26, 2007ECEP within BNP ParibasEnergy, Commodities, Export, Project is one of the main business lines in BNP Paribas Corporate and Investment Banking unit Dedicated to the energy, commodities and transportation sectors as well as asset-based finance on a worldwide basis 16% of CIB revenues6. Looking forwardBNP Paribas Group 2006 Revenues 27.4 bn €*Retail banking 55%1. ECEP within BNP Paribas 2. Historical background 3. ECEP today 4. Our strengths 5. ECEP value creatorAsset Mgt & Services 16%Corporate and Investment Banking 29%20% of CIB pre-tax incomeOther Financing Businesses: 17% Fixed Income: 37% Equity & Advisory: 30%ECEP : 16%* Excluding BNP Paribas Capital and other activities2A longstanding leadership in this businessThe “Energy & Commodities” sector was already a strategic focus of each of BNP Paribas pre-merger components1. ECEP within BNP Paribas 2. Historical background 3. ECEP today 4. Our strengths 5. ECEP value creator 6. Looking forwardThe strategies pursued by each Bank were highly complementary :BNP: focus on corporate clients, soft commodities UEB (*): centralized organization, transactional financings, Oil & Gas Paribas: decentralized approach, structured financings, Oil & GasBNP Paribas “Energy & Commodities” merged business line was a leader from its inception, generating almost 400 M€ in revenues in 1999 and combining strengths on both sidesHigh level of expertise Broad customer baseThe missions initially given to the “Energy & Commodities” business line remain topical todaySectorial approachWorldwide responsibility Client knowledgeDevelopment of a leading brand and franchise(*)United European Bank, located in Switzerland, in which BNP increased its share from 50% to 100% in 1998.3An impressive growth track record20021. ECEP within BNP Paribas 2. Historical background 3. ECEP today 4. Our strengths 5. ECEP value creator 6. Looking forwardIntegration of Export Finance and Project Finance, with three strategic angles:Global competency on the E&C sector (sectorial coverage and management of sector-specific products) Emerging markets focus Extended wallet share from very short term to long term2003/2006At constant scope and exchange rate, ECEP revenues grew by a compounded average annual rate of 19% mn€2003200420052006Another record year for ECEP with revenues exceeding 1.2 bn €• with the integration of Global Trade Services, Aviation Finance, Shipping Finance, Structured Leasing & Capstar20061250 1000 750 500 250 0+ 67%4ECEP business modelEnergy & Commodities1. ECEP within BNP Paribas 2. Historical background 3. ECEP today 4. Our strengths 5. ECEP value creator 6. Looking forwardTransportationClient coveragePrimary responsibility over global management of client relationshipDedicated productsStructuring and distribution of financial products specific to each sectorGlobal productsExport Finance Global Trade Services Structured Leasing & Capstar Project Finance InfrastructureCIB clientsRetail clientsECEP is a sectorial coverage group with a global products responsibility5E&C and Transportation clientsCommodity Finance1. ECEP within BNP Paribas 2. Historical background 3. ECEP today 4. Our strengths 5. ECEP value creator 6. Looking forwardE&C Structured Debt Clients: producers, exporters, transformers (refiners, smelters, mills, crushers…), transporters, service companies, utilities in the USA and AustraliaClients: commodity trading and marketing companiesIndustries : Oil, Gas, Petrochemicals, Non-ferrous metals, Steel, Soft commodities, Pulp & PaperAviation Finance Clients: cargo and passenger airlines, operating lessors (aircraft/engines, new or used), business jets ownersShipping Finance Clients: cruise industry, tanker / container / dry bulk / LNG shipping companies, mega-yachts owners6A full range of financing products for E&C clientsCommodity Finance1. ECEP within BNP Paribas 2. Historical background 3. ECEP today 4. Our strengths 5. ECEP value creator 6. Looking forwardE&C Structured DebtProductsTransactional products: back-toback, inventory financing (unsold or sold), transit, processing, tolling, etc Corporate secured: borrowing base Corporate unsecured: short term unsecured trade lines Structured products: Structured Inventory Finance, small projects and pre-financing with recourseProductsPurchase receivable finance Corporate lending Oil & Gas, Mining and Power Project Finance Structuring advisory (for financing or capital market solutions) Pre-Export financing Reserve Based Lending7Global products serving all BNP Paribas clientsGlobal Trade Services1. ECEP within BNP Paribas 2. Historical background 3. ECEP today 4. Our strengths 5. ECEP value creatorStructured Leasing & CapstarOptimization, securing and financing of international trade transactions for large corporate and mid-size companies through documentary credits, guarantees, forfaiting, supply chain financingAdvising and arranging of fixed asset-based tax-driven financings, synthetic (off-balance sheet) and capital (on-balance sheet) leasesGlobal productsExport Finance Project Finance Infrastructure Advising, structuring and underwriting of non-recourse cash flow-based financings of greenfield projects or single assets (roads, airports, water supply infrastructures…)6. Looking forwardExport Credit Agencies-backed loans to both sovereign and corporate borrowers located worldwide and acting in any industrial sector8A diversified revenue baseBreakdown of 2006 Revenues (pro-forma)1. ECEP within BNP Paribas 2. Historical background 3. ECEP todayFlow businesses: 41%7%GTS Asset Finance Excl GTS34%Commodity Finance20%Structured businesses: 59%E&C Structured Debt 4. Our strengths 5. ECEP value creator 6. Looking forward39%11% Project Finance (O&G, Power, Mining) 28% Other E&C Structured DebtE&C businesses: 73%Ensuring recurrence of revenues9A presence in over 40 countriesEUROPE and EASTERN EUROPE1. ECEP within BNP Paribas 2. Historical background 3. ECEP today 4. Our strengthsNORTH AMERICA195750ASIA140MIDDLE EAST AFRICA17LATIN AMERICA501,200 staff5. ECEP value creator 6. Looking forwardAUSTRALIA16High level of geographical diversification C. 50% of revenues generated from emerging markets (incl. new industrialized countries, i.e. rated BBB+ and below)4 hubs in Paris, New York, Geneva and Singapore21%33%16%13% 17%Americas Asia MEA Western Europe Eastern Europe2006 Revenues by destination zone10A unique blend of expertise…A global network resulting in an in-depth knowledge of our sectors and of emerging markets, away from any “stop-andgo” attitude1. ECEP within BNP Paribas 2. Historical background 3. ECEP today 4. Our strengths 5. ECEP value creator 6. Looking forwardA powerful combination of client coverage, structured financing, as well as risk management, advisory and underwriting capabilitiesA high capacity to engineer creative structured solutions boosting revenues of business lines acting on more mature marketsGlobal Trade Services, Export Finance, Shipping Finance, Aviation Finance, Structured Leasing & Capstar11… enabling us to deliver tailor-made multi-product solutionsCross execution between ECEP and Fixed Income as sole Lead Arranger of a Project Finance bond issue to refinance a cogeneration power plant Joint structuring between ECEP and Commodity Derivatives of a Credit Facility incorporating exclusive WTI crude oil swaps as well as purchase / transportation / delivery of crude oil by BNP Paribas Joint effort between ECEP, Commodity Derivatives, Public Finance and Fixed Income in a municipal natural gas prepurchase transaction First unrated wind energy Project Finance deal executed in the US Private Placement marketStrong product innovation capacity Entrepreneurial spirit1. ECEP within BNP Paribas 2. Historical background 3. ECEP today 4. Our strengths 5. ECEP value creator 6. Looking forward12Worldwide leadership in our key businessesBest Commodity Bank1. ECEP within BNP Paribas 2. Historical background 3. ECEP today 4. Our strengths 5. ECEP value creator 6. Looking forwardLeadership in oil exports financing with circa. 6 to 8 millions bbl per day financed through documentary operationsBest global Trade Finance provider Best Project Finance HouseAmong the Top 3 Global Project Finance Mandated Lead Arrangers with 3.8% market shareAircraft Finance innovator of the yearN°1 worldwide arranger of ECA-backed aircraft financing solutionsA leading Export Finance Bank12.3% market share as Mandated Lead Arranger in ECA-backed loansOne of the Top 3 Shipping Finance institutions6.1% market share in Syndicated Shipping Loans Most innovative Shipping Finance Deal 200613Unparalleled know-how to manage distinctive risksFocus on strategic commodities in emerging marketsECEP did not record any loss during South-East Asia and Russia crises1. ECEP within BNP Paribas 2. Historical background 3. ECEP today 4. Our strengths 5. ECEP value creator 6. Looking forwardHighly collateralized Commodity Finance transactionsCollateral Management segregated from front-office and controlled by an independent Collateral Control TeamAttention given to the control of Operational RiskDocumentation monitoringImportance granted to procedural and regulatory compliance“Know Your Customer” rules strictly applied Regular staff trainingCredit Management function independent from front-office Hands-on management of sensitive assetsThis has led to the almost complete recovery of Project Finance US doubtful portfolio (Merchant Power sector)Proven track record Competitive advantage14Creating value for CIB and BNP Paribas overallEquity Derivatives1. ECEP within BNP Paribas 2. Historical background 3. ECEP today 4. Our strengths 5. ECEP value creator 6. Looking forwardFixed IncomeHigh-yield / high-grade bond issues, Securitization, Interest rate derivatives, Foreign exchange…Cash share repurchases, equity swaps, commoditylinked equity derivatives, hedging and monetization…Commodity DerivativesListed futures, plain vanilla commodity swaps and options, composite hedging strategies, exotic options…Asset ManagementECEPInvestment products, Pension fund management…Cash ManagementElectronic cash management products, Global cash pooling…Corporate FinanceM&A advisory, IPOs, Convertible bonds…15Focus on Commodity DerivativesCommodity Derivatives includes two complementary risk management activities…1. ECEP within BNP Paribas 2. Historical background 3. ECEP today 4. Our strengths 5. ECEP value creator 6. Looking forwardFutures brokerage (platforms in London and New York) Commodity-Indexed Trading: OTC derivatives trading… providing commodity price risk management solutionsThe brokerage team executes & clears futures (ICE, LME, NYMEX, NYBOT…) The OTC group acts as principal, transacts swaps and options with clients under bilateral ISDA agreements; client-driven market-making activity Strict segregation of duties in place between the two activitiesA Leading Position in the Derivatives MarketplaceExperienced 130+ sales & trading staff in London, New York and Singapore A focus on all commodities Energy products: Crude Oil, Oil products, Natural gas, European Power Base Metals: non-ferrous metals, precious metals Soft commodities A wide range of instruments and structured hedgings offer An expansion of the business model from corporate customers to a new class of investors (hedge funds, institutions…) leveraging off our Equity Derivatives platform16A pioneering role in emerging markets on behalf of CIBMost underground reserves of commodities are located in emerging countries while consumption is in industrialized countries1. ECEP within BNP Paribas 2. Historical background 3. ECEP today 4. Our strengthsCommodity producers in emerging countries need tailor-made financing solutions as they have a limited access to international capital markets ECEP has built extensive relationships with large strategic commodity producers located in emerging countries Our know-how enables us to move forward through the range of financing products…Commodity Trade Finance5. ECEP value creator 6. Looking forwardCommodity Structured FinanceCommodity Corporate Finance… eventually opening the door to other CIB products, as the country and the clients become more sophisticated17An evolving business environmentCurrent high-cycle environment1. ECEP within BNP Paribas 2. Historical background 3. ECEP today 4. Our strengths 5. ECEP value creator 6. Looking forwardCommodity prices trends highly dependent on global economic growth Short-term evolution contrasted and sometimes erraticProven resilience to such factors Reduced importance of short-term commodity trade financeNew competitors, generally unfamiliar with our sectorsCash-rich industries and abundant liquidities are driving pricing down Limited know-how of new entrants, accepting lower standards However, clients are returning to industry leaders in awarding business (quality of service, product and value delivered)Increasingly blurry boundariesIndustrialized vs emerging countries, at least in BRIC+ E&C structured financing products (pre-export financing, reserve-based lending, project finance…) Leveraging off our longstanding relationships with emerging countries clients by offering addedvalue products to accompany them in their developmentSocietal requirementsClimate change Sustainable development Clean energy We are a leader in the financing of renewable energy projects18Strategic overviewPursue our geographical development in selected areas1. ECEP within BNP Paribas 2. Historical background 3. ECEP today 4. Our strengths 5. ECEP value creator Power Trading and CO2 initiative 6. Looking forward Wind farm, ethanol and bio-diesel in Project Finance Reserve-Based Lending in developing countriesAsia: a region in expansion where significant investments have been carried out (Commodity Finance China, India…) Middle East / Africa: an area where margins are still attractive Russia and ex-CIS: still a strong potential on the E&C sidePosition ourselves along new export flowsExpand our relationships with Export Credit Agencies located in new industrialized countriesFurther grow our Energy & Commodities franchisePrivate EquityContinue to favor the development of structured products Accelerate our transition towards being a global solution providerRemain close to our clients as their needs are diversifying19BNP PARIBAS : A worldwide leader in Energy, Commodities, Export & Project FinanceDominique Remy Global Head of ECEPMarch 26, 2007。

法国巴黎银行银行业的国际化竞争者

法国巴黎银行银行业的国际化竞争者法国巴黎银行（BNP Paribas）是一家在国际金融市场上崭露头角的法国银行，在银行业的国际化竞争中扮演着重要的角色。

本文将探讨巴黎银行在国际市场上的竞争优势以及其面临的挑战。

一、巴黎银行的历史与规模巴黎银行创建于19世纪，是法国最大的银行之一，总部位于巴黎。

该银行经过多年的发展与整合，如今已成为世界领先的金融服务提供商之一。

巴黎银行的业务涵盖零售银行、企业银行、投资银行和资产管理等领域，在全球范围内拥有广泛的分支机构和客户群体。

二、国际化战略的核心巴黎银行的国际化战略是其在竞争中取得成功的关键之一。

作为一个法国企业，巴黎银行积极寻求进军国际市场的机会，以扩大其业务范围和影响力。

在国际市场上，巴黎银行与其他竞争对手相比，具备以下核心优势：1. 全球化的业务布局巴黎银行在全球范围内设有分支机构和办事处，覆盖主要的经济中心和市场。

这种全球化的布局使得巴黎银行能够更好地服务于跨国企业和个人客户，满足其国际金融需求。

此外，全球业务布局也使得巴黎银行能够更好地应对国际市场的各种挑战和变化。

2. 多元化的产品与服务巴黎银行提供多元化的金融产品和服务，包括贷款、储蓄、投资、证券交易等。

不仅如此，巴黎银行还为企业客户提供资金融通、支付结算等专业金融服务，满足不同客户的需求。

这种多元化的产品与服务使得巴黎银行能够更好地适应国际市场的发展需求。

3. 创新的科技应用巴黎银行注重科技创新，在数字化时代中保持竞争力。

该银行积极采用人工智能、区块链等先进技术，提供更高效、安全的服务。

这不仅方便了客户的使用，也提升了巴黎银行的竞争力。

三、面临的挑战尽管巴黎银行在国际市场上具备一定的竞争优势，但仍然面临着一系列的挑战：1. 市场竞争加剧随着全球金融市场的开放与竞争的加剧，巴黎银行在国际市场上面临来自其他国际银行的竞争压力。

这些竞争对手也在不断加强其国际化战略，争夺市场份额。

巴黎银行需要保持警觉，并不断提升自身的竞争力。

单词学习：世界100强企业英文名

★以下是⽆忧考英语资源频道为⼤家整理的《单词学习：世界100强企业英⽂名》，供⼤家参考。

1 Exxon Mobil 埃克森美孚美国炼油2 Wal-Mart Stores 沃尔玛商店美国零售3 General Motors 通⽤汽车美国汽车4 Ford Motor 福特汽车美国汽车;5 DaimlerChrysler 戴姆勒克莱斯勒德国汽车6 Royal Dutch/Shell Group 皇家荷兰壳牌集团荷兰/英国炼油7 BP 英国⽯油英国炼油!8 General Electric 通⽤电⽓美国电⼦电⽓9 Mitsubishi 三菱商事⽇本多样化10 Toyota Motor 丰⽥汽车⽇本汽车11 Mitsui 三井物产⽇本多样化12 Citigroup 花旗集团美国⾦融13 Itochu 伊藤忠商事⽇本多样化14 Total Fina Elf 道达尔菲纳埃尔夫法国炼油)15 Nippon Telegraph & Telephone ⽇本电报电话⽇本电信16 Enron 安然美国能源;17 AXA 安盛法国保险%18 Sumitomo 住友商事⽇本多样化19 Intl. Business Machines 国际商⽤机器美国计算机20 Marubeni 丸红商事⽇本多样化21 Volkswagen ⼤众德国汽车22 Hitachi ⽇⽴⽇本电⼦电⽓23 Siemens 西门⼦德国电⼦电⽓24 Ing Group 荷兰国际集团荷兰保险25 Allianz 安联德国保险26 Matsushita Electric Industrial 松下电器⽇本电⼦电⽓27 E. ON 的德国多样化28 Nippon Life Insurance ⽇本⽣命⽇本保险29 Deutsche Bank 德意志银⾏德国银⾏30 Sony 索尼⽇本电⼦电⽓31 AT&T 美国电话电报美国电信32 Verizon Communications 弗莱森电讯美国电信33 U.S. Postal Service 美国邮政总局美国邮递包裹34 Philip Morris 菲利普莫⾥斯美国⾷品烟草35 CGNU 商联保险英国保险36 J.P. Morgan Chase 摩根⼤通银⾏美国银⾏37 Carrefour 家乐福法国零售38 Credit Suisse 瑞⼠信贷集团瑞⼠银⾏,39 Nissho Iwai ⽇商岩井⽇本多样化40 Honda Motor 本⽥汽车⽇本汽车41 Bank of America Corp. 美洲银⾏美国银⾏42 BNP Paribas 法国巴黎银⾏法国银⾏43 Nissan Motor ⽇产汽车⽇本汽车44 Toshiba 东芝⽇本电⼦电⽓45 PDVSA 委内瑞拉⽯油委内瑞拉炼油46 Assicurazioni Generali 忠利保险意⼤利保险47 Fiat 菲亚特意⼤利汽车48 Mizuho Holdings 瑞穗控股⽇本银⾏49 SBC Communications 西南贝尔美国电信50 Boeing 波⾳美国航空航天51 Texaco 德⼠古美国炼油52 Fujitsu 富⼠通⽇本计算机53 Duke Energy 杜克能源美国电⼒煤⽓54 Kroger 克罗格美国零售!55 NEC ⽇本电⽓公司⽇本电⼦电⽓56 Hewlett-Packard 惠普美国计算机57 HSBC Holdings 汇丰控股英国银⾏58 Koninklijke Ahold 的荷兰零售59 Nestlé 雀巢瑞⼠⾷品60 Chevron 雪佛龙美国炼油61 State Farm Insurance Cos. 州⽴农业保险美国保险62 Tokyo Electric Power 东京电⼒⽇本电⼒煤⽓63 UBS 瑞⼠联合银⾏瑞⼠银⾏64 Dai-ichi Mutual Life Insurance 第⼀⽣命⽇本保险65 American International Group 美国国际集团美国保险66 Home Depot 家庭百货美国零售67 Morgan Stanley Dean Witter 摩根⼠丹利添惠美国证券经纪68 Sinopec 中国⽯化中国⽯油化⼯69 ENI 埃尼意⼤利炼油)70 Merrill Lynch 美林美国证券经纪71 Fannie Mae 范妮梅美国⾦融72 Unilever 联合利华荷兰/英国⾷品73 Fortis 福尔蒂荷兰/⽐利时保险74 ABN AMRO Holding 荷兰银⾏荷兰银⾏75 Metro 麦德龙德国零售76 Prudential 保诚保险英国保险77 State Power Corporation 国家电⼒公司中国电⼒78 Rwe Group 莱茵集团德国电⼒煤⽓79 Compaq Computer 康柏电脑美国计算机80 Repsol YPF 莱普索尔西班⽛炼油81 Pemex 墨西哥⽯油墨西哥原油82 McKesson HBOC 麦卡森美国零售83 China Petroleum 中国⽯油天然⽓中国炼油84 Lucent Technologies 朗讯科技美国电⼦电⽓85 Sears Roebuck 西尔斯罗巴克美国零售86 Peugeot 标致法国汽车87 Munich Re Group 慕尼⿊再保险德国保险88 Merck 默克美国制药;89 Procter & Gamble 宝洁美国家⽤化学品90 WorldCom 世界电讯美国电信91 Vivendi Universal 威望迪环球法国娱乐92 Samsung Electronics 三星电⼦韩国电⼦电⽓93 TIAA-CREF 美国教师退休基⾦会美国保险94 Deutsche Telekom 德国电信德国电信95 Motorola 摩托罗拉美国电⼦电⽓96 Sumitomo Life Insurance 住友⽣命⽇本保险)97 Zurich Financial Services 苏黎⼠⾦融服务瑞⼠保险98 Mitsubishi Electric 三菱电机⽇本电⼦电⽓-99 Renault 雷诺法国汽车100 Kmart 卡马特美国零售。

集团公司职位英语缩写

集团公司职位英语缩写GM(General Manager)总经理VP(Vice President)副总裁FVP(First Vice President)第一副总裁AVP(Assistant Vice President)副总裁助理CEO(Chief Executive Officer)首席执行官COO(Chief Operations Officer)首席运营官CFO(Chief Financial Officer)首席财务官CIO(Chief Information Officer)首席信息官HRD(Human Resource Director)人力资源总监OD(Operations Director)运营总监MD(Marketing Director)市场总监OM(Operations Manager)运作经理PM(Production Manager)生产经理(Product Manager)产品经理Accounting Assistant 会计助理Accounting Clerk 记帐员Accounting Manager 会计部经理Accounting Stall 会计部职员Accounting Supervisor 会计主管Administration Manager 行政经理Administration Staff 行政人员Administrative Assistant 行政助理Administrative Clerk 行政办事员Advertising Staff 广告工作人员Airlines Sales Representative 航空公司定座员Airlines Staff 航空公司职员Application Engineer 应用工程师Assistant Manager 副经理Bond Analyst 证券分析员Bond Trader 证券交易员Business Controller 业务主任Business Manager 业务经理Cashier 出纳员Buyer 采购员Chemical Engineer 化学工程师Clerk/Receptionist 职员/接待员Civil Engineer 土木工程师Clerk Typist & Secretary 文书打字兼秘书Computer Data Input Operator 计算机资料输入员Computer Engineer 计算机工程师Computer Processing Operator 计算机处理操作员Computer System Manager 计算机系统部经理Copywriter 广告文字撰稿人Deputy General Manager 副总经理Economic Research Assistant 经济助究助理Electrical Engineer 电气工程师Engineering Technician 工程技术员Export Sales Manager 外销部经理English Instructor/Teacher 英语教师Export Sales Staff 外销部职员F.X. (Foreign Exchange)Clerk 外汇部职员Financial Controller 财务主任F.X. Settlement Clerk 外汇部核算员Financial Reporter 财务报告人General Auditor 审计长Fund Manager 财务经理General Manager/ President 总经理Import Liaison Staff 进口联络员General Manager Assistant 总经理助理Import Manager 进口部经理General Manager's Secretary 总经理秘书Insurance Actuary 保险公司理赔员Hardware Engineer (计算机)硬件工程师Interpreter 口语翻译International Sales Staff 国际销售员Legal Adviser 法律顾问Manager for Public Relations 公关部经理Line Supervisor 生产线主管Manufacturing Engineer 制造工程师Maintenance Engineer 维修工程师Manufacturing Worker 生产员工Management Consultant 管理顾问Market Development Manager 市场开发部经理Manager 经理Marketing Manager 市场销售部经理Market Analyst 市场分析员Marketing Representative 销售代表Marketing Staff 市场销售员Marketing Representative Manager 市场调研部经理Marketing Assistant 销售助理Office Clerk 职员Marketing Executive 销售主管Operational Manager 业务经理Mechanical Engineer 机械工程师Package Designer 包装设计师Mining Engineer 采矿工程师Passenger Reservation Staff 乘客票位预订员Music Teacher 音乐教师Personnel Clerk 人事部职员Naval Architect 造船工程师Personnel Manager 人事部经理Office Assistant 办公室助理Plant/ Factory Manager 厂长Postal Clerk 邮政人员Purchasing Agent 采购(进货)员Private Secretary 私人秘书Quality Control Engineer 质量管理工程师Product Manager 生产部经理Real Estate Staff 房地产职员Production Engineer 产品工程师Recruitment Co-ordinator 招聘协调人Professional Staff 专业人员Regional Manger 地区经理Programmer 电脑程序设计师Research＆.Development Engineer 研究开发工程师Project Staff (项目)策划人员Restaurant Manager 饭店经理Promotional Manager 推售部经理Sales and Planning Staff 销售计划员Proof-reader 校对员Securities Custody Clerk 保安人员Sales Assistant 销售助理Senior Consultant/Adviser 高级顾问Sales Clerk 店员、售货员Senior Secretary 高级秘书Sales Coordinator 销售协调人Service Manager 服务部经理Sales Engineer 销售工程师Simultaneous Interpreter 同声传译员Sales Executive 销售主管Software Engineer (计算机)软件工程师Sales Manager 销售部经理Supervisor 监管员Salesperson 销售员Systems Adviser 系统顾问Seller Representative 销售代表Systems Engineer 系统工程师Sales Supervisor 销售监管Systems Operator 系统操作员School Registrar 学校注册主任T echnical Editor 技术编辑Secretarial Assistant 秘书助理Technical Translator 技术翻译Secretary 秘书Technical Worker 技术工人Security Officer 安全人员T elecommunication Executive 电讯(电信)员Senior Accountant 高级会计Telephonist / Operator 电话接线员、话务员Senior Employee 高级雇员Trade Finance Executive 贸易财务主管Tourist Guide 导游Translation Checker 翻译核对员Trainee Manager 培训部经理Wordprocessor Operator 银行高级职员Translator 翻译员Typist 打字员公司英文标识总公司 Head Office分公司 Branch Office营业部 Business Office人事部 Personnel Department人力资源部Human Resources Department总务部 General Affairs Department财务部 General Accounting Department销售部 Sales Department促销部 Sales Promotion Department国际部 International Department出口部 Export Department进口部 Import Department公共关系 Public Relations Department广告部 Advertising Department企划部 Planning Department产品开发部 Product Development Department研发部 Research and Development Department(R&D) 秘书室Secretarial Pool世界500强企业名称中英对照（一）公司名称中文名称总部所在地主要业务1 Exxon Mobil 埃克森美孚美国炼油2 Wal-Mart Stores 沃尔玛商店美国零售3 General Motors 通用汽车美国汽车4 Ford Motor 福特汽车美国汽车5 DaimlerChrysler 戴姆勒克莱斯勒德国汽车6 Royal Dutch/Shell Group 皇家荷兰壳牌集团荷兰/英国炼油7 BP 英国石油英国炼油8 General Electric 通用电气美国电子电气9 Mitsubishi 三菱商事日本多样化10 Toyota Motor 丰田汽车日本汽车11 Mitsui 三井物产日本多样化12 Citigroup 花旗集团美国金融13 Itochu 伊藤忠商事日本多样化14 Total Fina Elf 道达尔菲纳埃尔夫法国炼油15 Nippon Telegraph & Telephone 日本电报电话日本电信16 Enron 安然美国能源17 AXA 安盛法国保险18 Sumitomo 住友商事日本多样化19 Intl. Business Machines 国际商用机器美国计算机20 Marubeni 丸红商事日本多样化21 Volkswagen 大众德国汽车22 Hitachi 日立日本电子电气23 Siemens 西门子德国电子电气24 Ing Group 荷兰国际集团荷兰保险25 Allianz 安联德国保险26 Matsushita Electric Industrial 松下电器日本电子电气27 E. ON 的德国多样化28 Nippon Life Insurance 日本生命日本保险29 Deutsche Bank 德意志银行德国银行30 Sony 索尼日本电子电气31 AT&T 美国电话电报美国电信32 Verizon Communications 弗莱森电讯美国电信33 U.S. Postal Service 美国邮政总局美国邮递包裹34 Philip Morris 菲利普莫里斯美国食品烟草35 CGNU 商联保险英国保险36 J.P. Morgan Chase 摩根大通银行美国银行37 Carrefour 家乐福法国零售38 Credit Suisse 瑞士信贷集团瑞士银行39 Nissho Iwai 日商岩井日本多样化40 Honda Motor 本田汽车日本汽车41 Bank of America Corp. 美洲银行美国银行42 BNP Paribas 法国巴黎银行法国银行43 Nissan Motor 日产汽车日本汽车44 Toshiba 东芝日本电子电气45 PDVSA 委内瑞拉石油委内瑞拉炼油46 Assicurazioni Generali 忠利保险意大利保险47 Fiat 菲亚特意大利汽车48 Mizuho Holdings 瑞穗控股日本银行49 SBC Communications 西南贝尔美国电信50 Boeing 波音美国航空航天51 Texaco 德士古美国炼油52 Fujitsu 富士通日本计算机53 Duke Energy 杜克能源美国电力煤气54 Kroger 克罗格美国零售55 NEC 日本电气公司日本电子电气56 Hewlett-Packard 惠普美国计算机57 HSBC Holdings 汇丰控股英国银行58 Koninklijke Ahold 的荷兰零售59 Nestlé雀巢瑞士食品60 Chevron 雪佛龙美国炼油61 State Farm Insurance Cos. 州立农业保险美国保险62 Tokyo Electric Power 东京电力日本电力煤气63 UBS 瑞士联合银行瑞士银行64 Dai-ichi Mutual Life Insurance 第一生命日本保险65 American International Group 美国国际集团美国保险66 Home Depot 家庭百货美国零售67 Morgan Stanley Dean Witter 摩根士丹利添惠美国证券经纪68 Sinopec 中国石化中国石油化工69 ENI 埃尼意大利炼油70 Merrill Lynch 美林美国证券经纪71 Fannie Mae 范妮梅美国金融72 Unilever 联合利华荷兰/英国食品73 Fortis 福尔蒂荷兰/比利时保险74 ABN AMRO Holding 荷兰银行荷兰银行75 Metro 麦德龙德国零售76 Prudential 保诚保险英国保险77 State Power Corporation 国家电力公司中国电力78 Rwe Group 莱茵集团德国电力煤气79 Compaq Computer 康柏电脑美国计算机80 Repsol YPF 莱普索尔西班牙炼油81 Pemex 墨西哥石油墨西哥原油82 McKesson HBOC 麦卡森美国零售83 China Petroleum 中国石油天然气中国炼油84 Lucent Technologies 朗讯科技美国电子电气85 Sears Roebuck 西尔斯罗巴克美国零售86 Peugeot 标致法国汽车87 Munich Re Group 慕尼黑再保险德国保险88 Merck 默克美国制药89 Procter & Gamble 宝洁美国家用化学品90 WorldCom 世界电讯美国电信91 Vivendi Universal 威望迪环球法国娱乐92 Samsung Electronics 三星电子韩国电子电气93 TIAA-CREF 美国教师退休基金会美国保险94 Deutsche Telekom 德国电信德国电信95 Motorola 摩托罗拉美国电子电气96 Sumitomo Life Insurance 住友生命日本保险97 Zurich Financial Services 苏黎士金融服务瑞士保险98 Mitsubishi Electric 三菱电机日本电子电气99 Renault 雷诺法国汽车100 Kmart 卡马特美国零售世界500强企业名称中英对照（二）公司名称中文名称总部所在地主要业务101 Target 塔吉特美国零售102 Albertson's 艾伯森美国零售103 Hyundai 现代韩国多样化104 Thyssen Krupp 蒂森克虏伯德国工农业设备105 Samsung 三星韩国多样化106 USX 美国钢铁马拉松美国炼油107 Royal Philips Electronics 皇家飞利浦电子荷兰电子电气108 Crédit Agricole 农业信贷银行法国银行109 Berkshire Hathaway 伯克希尔哈撒韦美国保险110 Intel 英特尔美国半导体111 BASF 巴斯夫德国化学112 Goldman Sachs Group 高盛集团美国证券经纪113 J.C. Penney 彭尼美国零售114 BMW 宝马德国汽车115 Conoco 的美国炼油116 Costco Wholesale 价格成本美国零售117 HypoVereinsbank 联合抵押银行德国银行118 Suez 苏伊士里昂水务法国水务119 Safeway 西夫韦美国零售120 MetLife 都市人寿保险美国保险121 Santander Central Hispano Group 桑坦德集团西班牙银行122 Dell Computer 戴尔电脑美国计算机123 SK 鲜京韩国炼油124 Electricite De France 法国电力法国电力125 Deutsche Post 德国邮政德国邮递包裹126 Tesco 特斯科英国零售127 France Télécom 法国电信法国电信128 BT 英国电信英国电信129 Ingram Micro 英格雷姆麦克罗美国零售130 Nortel Networks 北电网络加拿大电子电气131 Freddie Mac 弗雷德马克美国金融132 Cardinal Health 卡地纳健康美国的133 L.M. Ericsson 爱立信瑞典电子电气134 Meiji Life Insurance 明治生命日本保险135 United Parcel Service 联合包裹运输服务美国邮递包裹136 Royal Bank of Scotland 皇家苏格兰银行英国银行137 Mitsubishi Motors 三菱汽车日本汽车138 Pfizer 辉瑞美国制药139 Dynegy 的美国能源140 Reliant Energy 的美国电力煤气公用141 E.I. du Pont de Nemours 杜邦美国化学142 Delphi Automotive Systems 德尔福汽车系统美国汽车零件143 Johnson & Johnson 强生美国制药144 Allstate 好事达保险美国保险145 Robert Bosch 罗伯特博世德国电子电气146 Alcatel 阿尔卡特法国电子电气147 UtiliCorp United 公用事业联合公司美国电力煤气公用148 Tyco International 特科国际美国电子电气149 Hyundai Motor 现代汽车日本汽车150 Bayer 拜尔德国化学151 Aegon 的荷兰保险152 Ito-Yokado 伊藤洋华堂日本零售153 International Paper 国际造纸美国纸产品154 Nokia 诺基亚芬兰电子电气155 Nippon Mitsubishi Oil 日本三菱石油日本炼油156 Olivetti 好利获得意大利电信157 Wells Fargo 富国银行美国银行158 Mitsubishi Heavy Industries 三菱重工日本工农业设备159 GlaxoSmithKline 葛兰素史克英国制药160 Petrobrás 巴西石油巴西炼油161 Aetna 安泰美国保险162 Daiei 大荣日本零售163 Saint-Gobain 圣戈班法国玻璃164 United Technologies 联合技术美国航空航天165 Prudential Ins. Co. of America 美国宝德信人寿保险美国保险166 Lehman Brothers Holdings 雷曼兄弟美国证券经纪167 Bank of Tokyo-Mitsubishi 东京三菱银行日本银行168 Telefónica 西班牙电话西班牙电信169 PG&E Corp. 太平洋煤气电力美国电力煤气170 BellSouth 贝尔南方美国电信171 Canon 佳能日本办公设备172 Royal & Sun Alliance Insurance Group 皇家太阳保险集团英国保险173 J. Sainsbury 桑斯博里英国零售174 Walt Disney 沃特迪斯尼美国娱乐175 ConAgra 康尼格拉美国食品176 Lockheed Martin 洛克希德马丁美国航空航天177 Bank One Corp. 第一银行美国银行178 Barclays 巴克莱银行英国银行179 Jusco 吉之岛日本零售180 Honeywell International 霍尼韦尔国际美国航空航天181 Nippon Steel 新日铁日本金属182 Sumitomo Bank 住友银行日本银行183 Tosco 的美国炼油184 First Union Corp. 第一联合银行美国银行185 Société Générale 兴业银行法国银行186 Kansai Electric Power 关西电力日本电力187 Dresdner Bank 德累斯顿银行德国银行188 American Express 美国运通美国金融189 Statoil 挪威石油挪威炼油190 Sprint 斯普林特美国电信191 Westdeutsche Landesbank 西德意志银行德国银行192 Lloyds TSB Group 劳埃德集团英国银行193 LG International 乐喜金星国际韩国多样化194 Southern 南方美国电力煤气195 Supervalu 超价商店美国零售196 Enel 国家电力意大利电力197 Alcoa 美国铝业美国金属198 East Japan Railway 东日本铁路日本铁路运输199 Dow Chemical 道化学美国化学200 ABB 阿西布朗勃法瑞瑞士电子电气世界500强企业名称中英对照（三）公司名称中文名称总部所在地主要业务201 Microsoft 微软美国软件202 Groupe Pinault-Printemps 皮诺春天集团法国零售203 Tomen 东绵日本多样化204 FleetBoston 佛雷特波士顿银行美国银行205 CNP Assurances 法国国家人寿保险法国保险206 Intesabci 的意大利银行207 AutoNation 的美国汽车销售服务208 Alstom 阿尔斯通法国电子电气209 Indian Oil 印度石油印度炼油210 Preussag 普罗伊萨格德国多样化211 Georgia-Pacific 佐治亚太平洋美国纸产品212 Vodafone 沃达丰英国电信。

信用证中文

二、落实信用证2001年1月31日，中国银行江苏省分行通知思科公司收到F.F.公司通过BNP PARIBAS (CANADA) MONTREAL银行开来的编号为63211020049的信用证电开本。

其中与缮制单据有关的条款如下：1.开证行：BNP PARIBAS (CANADA) MONTREAL2.通知行：中国银行江苏省分行3.不可撤销信用证号：63211020049，开证日期：2001年1月29日4.信用证有效期及地点：2001年4月10日，中国5.申请人：FASHION FORCE CO., LTD P.O.BOX 8935 NEW TERMINAL, ALTA, VISTA OTTAWA, CANADA6.受益人：NANJING SICO TEXTILE GARMENT CO., LTD.HUARONG MANSION RM2901 NO.85 GUANJIAQIAO, NANJING 210005, CHINA7.信用证金额：USD32640.008.商品描述：SALES CONDITIONS: CIF MONTREAL/CANADASALES CONTRACT NO. F01LCB05127LADIES COTTON BLAZER (100% COTTON, 40SX20/140X60)STYLE NO. PO NO. QTY/PCS USD/PC46-301A 10337 2550 12.809.分批装运及转船运输：不允许分批装运，允许转运，从中国运至加拿大蒙特利尔港口。

10.最后装船期：2001年3月25日11.议付单据要求：(1)商业发票六份，受益人代表签名。

(2)加拿大海关发票四份。

(3)3/3全套正本已装船的清洁海运提单，抬头人为“TO THE ORDER OF BNP PARIBAS (CANADA)”，显示运费预付，通知人为开证人的名称和地址。

(4)明细装箱单三份。

(5)普惠制产地证一份副本(FORM A)。

中国所有银行英文

16 美国瓦乔维亚银行 Wachovia Corporation 美国(USA) 39,428
17 意大利联合信贷银行 UniCredit 意大利(Italy) 38,700
18 美国富国银行 Wells Fargo & Co 美国(USA) 36,808
25 法国国民互助信贷银行 Credit Mutuel 法国(France) 29,792
中国所有银行英文名正解
中国建设银行China Construction Bank （CBC）："存不存？"
中国银行bank of china（BC）：" 不存！"
中国农业银行Agriculture Bank of China（ABC）："啊？不存？"
中国工商银行lndustrial and commmercial bank of CHINA （ICBC）："爱存不存！ "
2008年《银行家》全球1000家大银行一级资本前25名
排名中文常用名英文名国家一级资本($m)
1 美洲银行 Bank of America Corp 美国(USA) 91,065
22 日本三井住友金融集团 Sumitomo Mitsui Financial Group 日本(Japan) 33,177
23 德意志银行 Deutsche Bank 德国(Germarry) 32,264
24 荷兰银行 ABN AMRO Bank 荷兰(Netherlands) 31,239
兴业银行 Industrial Bank
国家开发银行 CHINA DEVELOPMENT BANK
北京市商业银行 Commercial Bank of Beijing