Professional Documents
Culture Documents
Thi hn
Doanh s (t ng)
Qua m
3,93
8.057
1 Tun
4,48
4.178
2 Tun
4,69
980
1 Thng
4,55
2.031
3 Thng
4,87
1.610
6 Thng
4,60(*)
10(*)
9 Thng
6,95(**)
739(**)
12 Thng
Ghi ch
3967
1
10
31
10
Thi hn
Doanh s (t ng)
Qua m
4,37
6.297
1 Tun
4,76
1.174
2 Tun
5,05
12.415
1 Thng
5,21
1.375
3 Thng
5,17
2.150
6 Thng
5,35
9 Thng
6,95
739
12 Thng
Ghi ch
i vi cc giao dch bng VND, li sut bnh qun trn th trng lin ngn hng tip tc gim
hu ht cc k hn ch cht. C th, li sut bnh qun k hn qua m, 1 tun v 1 thng
gim cn mc 3,93%/nm; 4,48%/nm v 4,55%/nm.
Cu 7: ngha ca h thng xp hng tn nhim
Moodys (2013) cho rng xp hng tn nhim nhm mc ch nh gi cc ri ro tn dng lin
quan n ngha v ti chnh ca mt t chc trong tng lai. Xp hng tn nhim di hn nh
gi ri ro ca cc khon tn dng c thi gian o hn t mt nm tr ln, phn nh kh nng
thc hin cam kt tr n v ri ro suy gim ngun ti chnh trong tng lai. Trong khi , xp
hng ngn hn ch dnh cho cc khon tn dng o hn di 13 thng v ch nh gi v ri
ro tr n. i vi ngn hng, xp hng th hin quan im ca Moodys v mt ngn hng
nhm o lng kh nng ngn hng cn tr gip t bn ngoi trnh s v (Moodys,
2007).
Theo Standard and Poors (2012), xp hng tn nhim l nh gi kh nng tn dng ca bn
phi thc hin ngha v ti chnh trong tng lai da trn nhng yu t hin ti v quan im
ca ngi nh gi. Ni cch khc, xp hng tn dng c coi nh l ch bo v an ton
khi u t vo cc giy t c gi ca t chc, chng hn nh tri phiu, c phiu hay nhng
loi chng ch n tng t khc.
Vi quan im ca Fitch th xp hng tn nhim l nh gi mc kh nng thc hin cc
ngha v n nh li sut, c tc u i, cc khon bo him hay cc khon phi tr khc ca
mt t chc. Phng php xp hng tn dng ca Fitch l s kt hp ca c yu t ti chnh v
phi ti chnh. V vy, ch s nh gi cn cho thy kh nng sinh li tng lai ca t chc c
nh gi. Do , thut ng xp hng tn nhim ca Fitch cng c th c hiu rng thnh xp
hng tn nhim.
nh gi phng php xp hng cc ngn hng ca 3 h thng xp hng tn nhim:
Fitch
Moodys
Tp trung nh gi trin
vng v t l vn da vo
cc khon l d kin.
nh gi ca t chc xp
hng
(C tc ng t bn ngoi)
Kt qu xp hng ring ca
ngn hng l mc sn trong
cch nh gi ny
Da trn cch nh gi xp
hng ring ca Moodys v
ngn hng v cc yu t h
tr
Tp trung nh gi hot
ng iu chnh ri ro hiu
sut v kh nng tng
trng vn t cc khon li
nhun
nh gi trin vng h
thng ngn hng da trn
ri ro h thng
nh gi m rng
XHTN quc gia
Ri ro h thng c tc ng
n xp hng ngn hng?
Da trn:
- Ch s kinh t v m.
- Trung bnh xp hng cc
ngn hng.
Khng.
nh gi trin vng h
thng ngn hng da trn
ri ro h thng ngn hng.
Phn tch ri ro h thng
(2005)
Da trn:
Khng c
Khng.
nh gi trin vng h
thng ngn hng da trn
ri ro h thng ngn hng.
Pht trin cch nh gi
xp hng ring da trn
nh gi b sung (2007)
Da trn:
-T s kinh t v m
-Ngnh v mi trng kinh
doanh
C, da vo:
- T s v m ti
- Ngnh v mi trng kinh
doanh
Pht trin phng php
nh gi (2011)
Nhn mnh:
- Ri ro ton h thng
- To s lin kt t li
nhun n ngun vn