Americk\u00e1 vl\u00e1da zakro\u010dila, aby ochr\u00e1nila vkladate\u013eov v Silicon Valley Bank. Ke\u010f sa SVB a konkurent zr\u00fatili, regula\u010dn\u00e9 org\u00e1ny roz\u0161\u00edrili svoju \u00falohu zabezpe\u010dovacieho zariadenia. Ke\u010f jedna banka skolabuje, panick\u00e1 ot\u00e1zka \u010dasto znie \u201ekto je \u010fal\u0161\u00ed?\u201c In\u00e9 finan\u010dn\u00e9 in\u0161tit\u00facie m\u00f4\u017eu skon\u010di\u0165 odhalen\u00e9 kv\u00f4li prepojeniam na skrachovan\u00fa in\u0161tit\u00faciu, preto\u017ee pou\u017e\u00edvaj\u00fa podobn\u00e9 obchodn\u00e9 modely alebo jednoducho preto, \u017ee sentiment investorov je zl\u00fd. Vkladatelia \u010delia strat\u00e1m, ak s\u00fa ich prostriedky pr\u00edli\u0161 ve\u013ek\u00e9 na to, aby ich pokryli syst\u00e9my poistenia vkladov.<\/p>\n
Presne tieto obavy vyvolal z\u00e1nik Silicon Valley Bank ( svb ), 16. najv\u00e4\u010d\u0161ieho poskytovate\u013ea p\u00f4\u017ei\u010diek v Amerike, po ne\u00faspe\u0161nom pokuse o z\u00edskanie kapit\u00e1lu a likvid\u00e1cii jej vkladov 10. marca. Cez v\u00edkend sa cez soci\u00e1lne m\u00e9di\u00e1 \u0161\u00edrili zvesti o potenci\u00e1lnych probl\u00e9moch u nieko\u013ek\u00fdch \u010fal\u0161\u00edch region\u00e1lnych verite\u013eov. Bolo \u013eahk\u00e9 si predstavi\u0165 nerv\u00f3znych podnikov\u00fdch pokladn\u00edkov, ktor\u00ed sa pre ka\u017ed\u00fd pr\u00edpad rozhodli presun\u00fa\u0165 svoje vklady do najv\u00e4\u010d\u0161\u00edch b\u00e1nk. <\/p>\n
Ale 12. marca spolo\u010dn\u00e1 odpove\u010f americk\u00e9ho ministerstva financi\u00ed, Feder\u00e1lneho rezervn\u00e9ho syst\u00e9mu a Feder\u00e1lnej korpor\u00e1cie pre poistenie vkladov ( fdic ) pomohla zbavi\u0165 sa ob\u00e1v o vkladate\u013eov a z\u00e1rove\u0148 odhalila \u010fal\u0161iu bankov\u00fa obe\u0165.<\/p>\n
Ich akcia mala dva hroty. Prv\u00fdm bolo \u00fapln\u00e9 splatenie vkladate\u013eov v svb a Signature Bank, verite\u013eovi so s\u00eddlom v New Yorku s akt\u00edvami vo v\u00fd\u0161ke 110 mili\u00e1rd dol\u00e1rov, ktor\u00e9 \u0161t\u00e1tne org\u00e1ny v nede\u013eu uzavreli. Podpis bol uzavret\u00fd na ochranu spotrebite\u013eov a finan\u010dn\u00e9ho syst\u00e9mu \u201evo svetle udalost\u00ed na trhu\u201c a po \u201e\u00fazkej spolupr\u00e1ci s in\u00fdmi \u0161t\u00e1tnymi a feder\u00e1lnymi regul\u00e1tormi\u201c, uviedli \u00farady. <\/p>\n
V \u017eiadnom pr\u00edpade nebud\u00fa musie\u0165 plati\u0165 da\u0148ov\u00ed poplatn\u00edci. Majitelia akci\u00ed a mnoh\u00ed dr\u017eitelia dlhopisov v oboch bank\u00e1ch bud\u00fa vymazan\u00ed; Fond poistenia vkladov fdic , do ktor\u00e9ho platia v\u0161etky americk\u00e9 banky, bude zn\u00e1\u0161a\u0165 v\u0161etky zostatkov\u00e9 n\u00e1klady. Vkladatelia v oboch bank\u00e1ch bud\u00fa ma\u0165 v pondelok r\u00e1no pln\u00fd pr\u00edstup k svojim peniazom.<\/p>\n
Druh\u00fdm bolo zriadenie nov\u00e9ho \u00faverov\u00e9ho n\u00e1stroja, naz\u00fdvan\u00e9ho program bankov\u00e9ho term\u00ednovan\u00e9ho financovania, vo Fede. To bank\u00e1m umo\u017en\u00ed zalo\u017ei\u0165 \u0161t\u00e1tne pokladnice, cenn\u00e9 papiere kryt\u00e9 hypot\u00e9kami ( mbs ) a in\u00e9 kvalifikovan\u00e9 akt\u00edva ako kolater\u00e1l. Banky bud\u00fa ma\u0165 n\u00e1rok na \u00favery, ktor\u00fdch hodnota sa bude rovna\u0165 nomin\u00e1lnej hodnote cenn\u00fdch papierov, ktor\u00e9 zakladaj\u00fa. <\/p>\n
\u00darokov\u00e1 sadzba p\u00f4\u017ei\u010dky na t\u00fato hotovos\u0165 bude stanoven\u00e1 na \u201ejednoro\u010dn\u00fd jednod\u0148ov\u00fd indexov\u00fd swap\u201c, \u010do je trhov\u00e1 \u00farokov\u00e1 sadzba plus 0,1 %. Toto s\u00fa ve\u013ekorys\u00e9 podmienky. Pokladni\u010dn\u00e9 pouk\u00e1\u017eky a mbs sa \u010dasto obchoduj\u00fa pod ich nomin\u00e1lnou hodnotou, najm\u00e4 ke\u010f \u00farokov\u00e9 sadzby rast\u00fa. Sadzba, ktor\u00e1 je pon\u00fakan\u00e1 bank\u00e1m, \u00fazko sleduje sadzbu fondov Fedu; 0,1% nie je ve\u013ek\u00e1 pokuta za pr\u00edstup do zariadenia.<\/p>\n
Veci sa cez v\u00edkend nevyhnutne pohli ve\u013ekou r\u00fdchlos\u0165ou, hovor\u00ed vysok\u00fd predstavite\u013e ministerstva financi\u00ed, preto\u017ee v pondelok r\u00e1no bolo d\u00f4le\u017eit\u00e9 upokoji\u0165 vkladate\u013eov. Ak by in\u00e1 banka predlo\u017eila ponuku na svb, vy\u017eadovalo by si to rozsiahle due diligence, ktor\u00e9 je \u0165a\u017ek\u00e9 absolvova\u0165 za jedin\u00fd v\u00edkend. Dohoda pre svb alebo Podpis by mohla pr\u00eds\u0165 v najbli\u017e\u0161\u00edch d\u0148och alebo t\u00fd\u017ed\u0148och. (13. marca hsbc, najv\u00e4\u010d\u0161ia eur\u00f3pska banka, povedala, \u017ee k\u00fapi britsk\u00fa pobo\u010dku svb za 1 libru alebo 1,21 dol\u00e1ra.)<\/p>\n
E\u0161te d\u00f4le\u017eitej\u0161ie je, \u017ee \u013eudia sa bud\u00fa p\u00fdta\u0165, \u010di sa tieto kroky rovnaj\u00fa vl\u00e1dnej z\u00e1chrane. Na to nie je jednoduch\u00e9 odpoveda\u0165. \u00daradn\u00edci m\u00f4\u017eu plne splati\u0165 vkladate\u013eov vymazan\u00edm dr\u017eite\u013eov dlhopisov a akci\u00ed a pr\u00edpadne aj ulo\u017een\u00edm poplatku bank\u00e1m. To nazna\u010duje, \u017ee in\u00e9 banky, a nie da\u0148ov\u00ed poplatn\u00edci, by mohli zn\u00e1\u0161a\u0165 n\u00e1klady za prehre\u0161ky svb a podpisu. <\/p>\n
Napriek tomu, \u017ee zlikviduje dvoch verite\u013eov, je jasn\u00e9, \u017ee \u00faloha \u0161t\u00e1tu pri zabezpe\u010dovan\u00ed bankov\u00e9ho syst\u00e9mu sa roz\u0161\u00edrila vzh\u013eadom na ve\u013ekorys\u00e9 podmienky, za ktor\u00fdch m\u00f4\u017eu banky vymeni\u0165 vysokokvalitn\u00e9 akt\u00edva za hotovos\u0165.<\/p>\n
Rozhoduj\u00facou \u00falohou centr\u00e1lnej banky je p\u00f4sobi\u0165 ako verite\u013e poslednej in\u0161tancie pre bankov\u00fd syst\u00e9m \u2013 a pritom vo\u013ene po\u017ei\u010diava\u0165 za dobr\u00fa z\u00e1ruku za cenu. To umo\u017e\u0148uje centr\u00e1lnej banke stabilizova\u0165 finan\u010dn\u00fd syst\u00e9m a zabr\u00e1ni\u0165 tomu, aby nelikvidn\u00fd verite\u013e sp\u00f4sobil z\u00e1nik inak solventn\u00fdch in\u0161tit\u00faci\u00ed. <\/p>\n
Fed u\u017e m\u00e1 \u00faverov\u00fa facilitu, naz\u00fdvan\u00fa diskontn\u00e9 okno, v r\u00e1mci ktorej si banky m\u00f4\u017eu po\u017ei\u010da\u0165 za ich kolater\u00e1l za re\u00e1lnu hodnotu. Nov\u00fd program nielen\u017ee chr\u00e1ni banky pred probl\u00e9mami s likviditou, ale izoluje ich aj od \u00farokov\u00e9ho rizika. To by asi zachr\u00e1nilo svb, ktor\u00e9 to riziko nalo\u017eilo. Ale m\u00f4\u017ee to tie\u017e povzbudi\u0165 viac tejto nerozv\u00e1\u017enosti v in\u00fdch.<\/p>\n","protected":false},"excerpt":{"rendered":"
Americk\u00e1 vl\u00e1da zakro\u010dila, aby ochr\u00e1nila vkladate\u013eov v Silicon Valley Bank. Ke\u010f sa SVB a konkurent zr\u00fatili, regula\u010dn\u00e9 org\u00e1ny roz\u0161\u00edrili svoju \u00falohu zabezpe\u010dovacieho zariadenia. Ke\u010f jedna banka skolabuje, panick\u00e1 ot\u00e1zka \u010dasto znie \u201ekto je \u010fal\u0161\u00ed?\u201c In\u00e9 finan\u010dn\u00e9 in\u0161tit\u00facie m\u00f4\u017eu skon\u010di\u0165 odhalen\u00e9 kv\u00f4li prepojeniam na skrachovan\u00fa in\u0161tit\u00faciu, preto\u017ee pou\u017e\u00edvaj\u00fa podobn\u00e9 obchodn\u00e9 modely alebo jednoducho preto, \u017ee sentiment […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-28316","post","type-post","status-publish","format-standard","hentry","category-exo-news"],"_links":{"self":[{"href":"https:\/\/extraslovensko.sk\/spravy\/wp-json\/wp\/v2\/posts\/28316","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/extraslovensko.sk\/spravy\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/extraslovensko.sk\/spravy\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/extraslovensko.sk\/spravy\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/extraslovensko.sk\/spravy\/wp-json\/wp\/v2\/comments?post=28316"}],"version-history":[{"count":0,"href":"https:\/\/extraslovensko.sk\/spravy\/wp-json\/wp\/v2\/posts\/28316\/revisions"}],"wp:attachment":[{"href":"https:\/\/extraslovensko.sk\/spravy\/wp-json\/wp\/v2\/media?parent=28316"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/extraslovensko.sk\/spravy\/wp-json\/wp\/v2\/categories?post=28316"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/extraslovensko.sk\/spravy\/wp-json\/wp\/v2\/tags?post=28316"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}