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khon
1/7
Mi quan h gia hot ng ca Ngn hng thng mi v hot ng ca th trng chng
khon
Trn gc trc tip, cc ngn hng thng mi c th tham gia hot ng vi t cch
l ngi pht hnh v bn c phiu ca mnh( ngn hng c phn). Cc ngn hng c
phn pht hnh c c phiu to ngun vn khi mi thnh lp hoc vn b sung thm
trong qu trnh hot ng. Ngoi ra, tt c cc Ngn hng thng mi khng phn bit
thnh phn s hu c th pht hnh tri phiu huy ng vn t nn kinh t. Nhng
vic ny to cho th trng chng khon mt khi lng hng ho rt ln th trng
th cp. Nh vy, vi t cch l mt t chc kinh doanh n thun trn th trng, Ngn
hng thng mi thng qua cc hot ng pht hnh ca mnh cung cp mt lng
chng khon ln phong ph, a dng v c bit l c cht lng cao cho th trung.
Ngoi cc loi chng khon truyn thng l c phiu v tri phiu, cc cng ty chng
khon thuc Ngn hng thng mi hin nay cn bn tri phiu chnh ph (trung ng
v a phng), chng quyn, tri quyn, cc hp ng tng lai, hp ng quyn chn
v cc sn phm lai to a dng khc ph hp vi thay i trn th trng v mi trng
kinh doanh. Trong nhng th trng mi ni, hng ho v dch v cn ngho nn, n
diu, nu c t chc pht trin tt, cc Ngn hng thng mi c th gp phn ci
thin mi trng u t ny. Mt mi trng u t tt a dng v sn phm, vi chi
ph dich v thp v c li nhun tho ng s thu ht c ngun vn nhn ri cho tng
trng kinh t.
Bn cnh , Ngn hng vi t cch l mt t chc trung gian, thc hin cc nghip
v trung gian chng khon nh bo lnh pht hnh, t vn u t chng khon, ..
gp phn khng nh gip cc doanh nghip khc pht hnh chng khon, gin tip to
s a dng v hng ho cho th trng chng khon. Th nht, phi k n l Ngn
hng thng mi l nhn t gp phn thc y qu trnh c phn ho cc doanh nghip
Nh nc thnh cc cng ty c phn. Ngn hng tham gia vo vic thnh lp cng ty
c phn hoc c phn ho cc doanh nghip Nh nc vi t l c phiu ng k c
iu kin tham gia qun tr kinh doanh, tn nhim. Cng ty c phn d mi thnh lp
hay c phn ho, vn vn cn hn hp so vi yu cu ca k thut v cng ngh hin
i, do ngn hng phi l tr th c lc cho cng ty c phn, to iu kin cho cc
cng ty vay tn dng. Nh vy, chnh ch tn dng v ngn hng x hi ho cc
ngun vn, gii quyt cc mu thun trong s vn ng ca ngun vn gia cc thnh
phn kinh t, xo b tnh cht t nhn cc bit ca ngun vn trong cng ty c phn.
Mt doanh nghip c th bt u hot ng ca mnh bng mt mn n vay ngn hng.
Vay ngn hng l mt c s hot ng ca cc doanh nghip v nng lc kinh doanh
ca h. Cc ngn hng l ngi u tin lp ra vic kim tra cc hot ng ca cng
ty, h quyt nh c nn cho vay hay khng v c nn tip tc cung cp tn dng hay
khng. Ngn hng s cung cp kinh doanh nu bit c rng mt Cng ty thnh cng
cui cng c th hot ng kinh doanh trn th trng chng khon. Nh vy k cng
ti chnh ca ngn hng s a cng ty vo th trng chng khon, gin tip b sung
mt lng hng ho cho th trng. Th hai, ngn hng thng mi cng gi mt vai
2/7
Mi quan h gia hot ng ca Ngn hng thng mi v hot ng ca th trng chng
khon
tr quan trng trong vic gip cc cng ty pht hnh chng khon trn th trng s cp.
Khi nhng nh sng lp mt cng ty no mun pht hnh chng khon thu ht
vn, h c th da vo uy tn, v kinh nghim ca ngn hng k hp ng v vic
pht hnh v bn cc chng khon ca mnh. Nh vy, Ngn hng thng mi thc hin
chc nng mi gii pht hnh chng khon gia ngi mun bn v ngi mun mua
chng khon. Khi m nhn vai tr ny, Ngn hng s gip cho nhng ngi sng lp
cng ty chn la loi chng khon pht hnh, t vn v cc vn nh li sut chng
khon, thi hn chng khon, v cc vn k thut khc. Trong nhng trng hp c
bit, nh s pht hnh mt lng chng khon kh ln, cc Ngn hng c th cng nhau
chia s vic d nh s pht hnh ny nhm gim thiu ri ro, hoc mua ton b cc c
phiu, tri phiu pht hnh mi v sau bn li cho cng chng. Bn cnh , bng
cch cung cp dch v t vn c phn ho, t vn nim yt, thc hin bo lnh pht hnh
chng khon trong t pht hnh v gip nh u t pht hnh v gip nh u t nh
gi ng v chnh xc v gi tr cc khon u t ca mnh, bng cch d cng ty chng
khon s pht huy c vai tr to sn phm hng ho ni cho th trng.
3/7
Mi quan h gia hot ng ca Ngn hng thng mi v hot ng ca th trng chng
khon
Qu tht vi vai tr mt trung gian trn th trng chng khon, ngn hng thng mi
ng gp rt to ln vo s pht trin ca th trng. k thm vo nhng ng gp
ca ngn hng thng mi vi t cch mt trung gain chng khon, ta c th k n
vai tr ca ngn hng nhu qun l ti khon tin gi ca php nhn v th nhn to tin
cho vic tch lu vn mua bn chng khon, kinh nghim v hot ng tn dng
ca ngn hng to iu kin cho vic mua bn chng khon c thun li khi c nhu
cu u t v c bit l kinh nghim v t chc thanh ton gip ngn hng thng mi
thc hin tt vic chi tr trong mua bn chng khon. Khi c th trng chng khon,
cc quan h mua bn chng khon din ra thng xuyn, nhiu khi chng mt nht l
th trng chng khon th cp. Cc quan h mau bn bao gi cng ko theo quan h
thanh ton: Ngi mua tr tin cho ngi bn, ngi bn giao chng khon cho ngi
mua. C th ti hng trm mi quan h thanh ton din ra vi tc rt nhanh, hng
ngn giao dch mi ngy ti S giao dch chng khon ca nhiu nc. Qua c th
thy vai tr lm trung gian thanh ton ca ngn hng thng mi trn th trng chng
khon l khng th ph nhn, gp phn thc y cho s pht trin ca th trng chng
khon.
4/7
Mi quan h gia hot ng ca Ngn hng thng mi v hot ng ca th trng chng
khon
Ngn hng thng mi l mt trung gian ti chnh quan trn th trng ti chnh vi hot
ng c bn nht l nhn tin gi v tin hnh cho vay nhm p ng cc nhu cu v
vn trong nn kinh t. V chnh hot ng ny c tc ng rt ln n hot ng ca th
trng chng khon, m c th l gi c, cung v cu ca chng khon trn th trng.
Bi l xet cho cng, mc ch ca bt k nh u t no di bt k hnh thc no cng
xut pht t mc tiu cui cng, l mc tiu li nhun. Vic h quyt nh u t vo
lnh vc no l tu thuc vo nhng nhn nh v d on ca h v kh nng sinh li,
em li thu nhp, v mc ri ro ca n. Chnh v vy m li sut tin gi v cho vay
ca cc ngn hng cng c tc ng khng nh n mc cung cu chng khon trn th
trng v gi ca nhng chng khon .
Khi nim li sut dng ch mc li sut p dng cho c khon vay v cho vay gia
c ngn hng trn th trng lin ngn hng v cc khch hng ca h trn th trng.
Cn li sut c phiu hay tri phiu, ni chung l li sut chng khon l mc li sut
qui nh sn trn mi tri phiu hoc mc li d kin s nhn c vo lc chia c tc
ca c phiu. ng thi, i vi c phiu l k vng tng lai v gi c phiu gia
tng.
5/7
Mi quan h gia hot ng ca Ngn hng thng mi v hot ng ca th trng chng
khon
Vai tr ca ngn hng thng mi trong vic cung cp thng tin trn th
trng chng khon
i vi th trng chng khon, thng tin gi mt vai tr ht sc quan trng gip cho
th trng duy tr v pht trin. Thng tin gip cc nh u t quyt nh nhng phng
n u t thu c li nhun ln nht v trnh c nhng ri ro trn th trng.
Thng tin gip cho nhng c quan qun l th trng gim st, qun l th trng mt
cch cht ch v hiu qu. C th ni, ngn hng thng mi c mt ngha rt ln
trong vic cung cp mt knh thng tin rt phong ph v tng i ng tin cy cho
th trng. Hot ng mi gii u t chng khon ca cc ngn hng thng mi lun
cha ng c hm lng t vn u t cao, ngi mi gii chng khon cho bit khi
no nn mua, khi no nn bn chng khon v cung cp thng tin v tnh hnh din bin
trn th trng. Cc cng ty chng khon cung cp dch v y khng ch thc thc
hin lnh ca khch hng, m cn tham gia vo nhiu dch v t vn khc nhau thng
qua nghin cu th trng ri cung cp thng tin cho cc t chc v c nhn u t.
Cc dch v y bao gm: thu thp thng tin cung cp theo yu cu ca khch hng; cung
cp thng ti v cc kh nng u t khc nhau cng nh trin vng ngn v di hn ca
cc khon u t trong tng lai; cung cp thng tin v chnh sch tin t ca Chnh
ph c lin quan n cc khon u t m khch hng cn nhc. Bn cnh , cc ngn
hng thng mi cng cung cp cc thng tin rt ng tin cy v tnh hnh din bin th
trng gip cc c quan qun l th trng c nhng iu chnh ph hp nht. l
mt vi v d v vai tr cung cp thng tin ca cc ngn hng thng mi trn th trng
chng khon.
6/7
Mi quan h gia hot ng ca Ngn hng thng mi v hot ng ca th trng chng
khon
7/7