Th trng ti chnh Vit Nam: Thc trng v nh hng pht trin nhng nm ti ( Bnh chn: 7

I) t vn : Thc t nc ta trong gii khoa hc kinh t ni chung v chuyn ngnh ti chnh - tin t ni ring ang tn ti mt s quan nim khng trng khp nhau v th trng vn v th trng ti chnh. Mt s ngi quan nim rng, th trng vn bao gm th trng vn ngn hn v th trng vn di hn; trong th trng vn di hn l th trng chng khon. Mt s khc th cho rng, th trng vn bao gm th trng tin t v th trng ti chnh; trong , th trng ti chnh l th trng chng khon... D quan nim no i na, th n vn phi bao gm th trng vn ngn hn v th trng vn di hn. V vy, nu quan nim th trng ti chnh bao gm th trng vn ngn hn v th trng vn trung hn, th th trng tin t v th trng chng khon chnh l hai b phn th trng . Thc hin cng cuc i mi nn kinh t, chuyn sang pht trin theo c ch th trng, nhanh chng hi nhp khu vc v quc t, ng v Chnh ph ta ch trng pht trin c th trng tin t v th trng chng khon ngay t u thp k 90 ca th k trc, t khi hai Php lnh Ngn hng, HTX tn dng v cng ty ti chnh c hiu lc thi hnh thng 5-1990. II) V thc trng pht trin th trng tin t Tham gia l thnh vin ca cc dng th trng tin t c 5 Ngn hng thng mi Nh nc, Ngn hng chnh sch x hi, 36 Ngn hng thng mi c phn, 4 Ngn hng lin doanh, 27 chi nhnh Ngn hng nc ngoi, Qy tn dng TW, 900 Qu tn dng nhn dn c s, mt s cng ty bo him v ti bo him, Qu u t... Tuy nhin tham gia l thnh vin ca th trng lin ngn hng, th trng u thu tn phiu Kho bc nh nc, th trng m... th khng phi tt c cc t chc trn, hu nh ch c cc NHTM NN, NHTM c phn th, ngn hng lin doanh, chi nhnh Ngn hng nc ngoi, mt s cng ty bo him... V c ch tc ng v can thip trn th trng tin t, c th hin tp trung cc cng c iu hnh chnh sch tin t v nghip v Ngn hng Trung ng. Theo , dn dn ph hp vi thng l quc t, t thng 6-2002, Ngn hng Nh nc chuyn sang thc hin c ch iu hnh li sut c bn trc . Hng thng Ngn hng Nh nc cng b li sut c bn, vn quy nh li sut ti cp vn, li sut ti chit khu; cng vi li sut nghip v hon i ngoi t Swap, li sut th trng m, li sut th trng u thu tn phiu kho bc nh nc tc ng vo li sut th trng, li sut huy ng vn v li sut cho vay ca cc T chc tn dng. Tc ng vo li sut cn c cng c d tr bt buc. Khi Ngn hng Nh nc iu chnh tng t l d tr bt buc, c tc ng lm tng chi ph u vo ca cc TCTD. Do hoc l cc TCTD gi nguyn li sut huy ng vn th phi tng li sut cho vay; hoc l ng thi va phi tng li sut cho vay, va phi tng li sut huy ng vn. Cng c iu hnh t gi cng c tc ng vo li sut ca cc TCTD trn th trng tin t, nhng khng r nt. Vi s pht trin ca cc t chc trung gian ti chnh, c bit l cc TCTD, vi c ch iu hnh chnh sch tin t v nghip v Ngn hng Trung ng tin dn ti ph hp vi thng l quc t, cc Ngn hng thng mi v T chc tn dng c ch ng trong cc hot ng huy ng vn v cho vay ca mnh, tham gia tch cc, nng ng v cnh tranh mnh m vi nhau trn th trng tin t, theo , n cng c iu kin thc y th trng tin t pht trin. III) V thc trng pht trin th trng tin gi v huy ng vn: y l th trng c s cnh tranh mnh m nht v si ng nht gia cc t chc trung gian ti chnh trong vic thu ht tin nhn ri trong dn c. Trong thi gian gn y, cc T chc tn dng a ra cc hnh thc sau: - Cnh tranh khuyn khch khch hng m ti khon c nhn, ti khon s dng th... Tnh n nay trong c nc m c khong trn 1.300.000 ti khon c nhn, trong c khong trn 750.000 ti khon ca cc ch th.

-- Tho lun: 5 -- S ln c: 42700)

- Cnh tranh thu ht tin gi khng k hn ca cc t chc kinh t - x hi. Gia cc TCTD cnh tranh thu ht tin gi ca Kho bc nh nc, bo him x hi Vit Nam, Bo Vit, cc cng ty bo him nhn th, bu chnh vin thng, in lc... - Cnh tranh thu ht tin gi tit kim: y l hnh thc huy ng vn truyn thng gia cc TCTD v Cng ty dch v tit kim bu in, nht l cc Qu tn dng nhn dn c s. Thi gian gn y, khuyn khch khch hng, mt s ngn hng thng mi a ra dch v: gi mt ni lnh nhiu ni, tit kim tch ly hay cn gi l tit kim gi gp, tit kim gn vi bo him nhn th, tit kim ly tin tr li theo s tin gi cng cao th li sut cng cao, tit kim linh hot tc l khch c ch ng rt tin ra bt c lc no c nhu cu v li sut tnh theo s ngy thc t gi tng ng vi k hn gn nht, tit kim d thng... - Pht hnh cc chng ch tin gi, k phiu, tri phiu... ch yu l huy ng vn c thi hn t 6 thng tr ln, li sut hp dn. Trong nhng nm gn y, c s cnh tranh si ng trn th trng thu ht tin gi v th trng huy ng vn, c bit l cc t chc trung gian ti chnh thc hin rt a dng v phong ph cc sn phm v dch v thu ht tin gi, huy ng vn. Tuy nhin trong vic pht trin th trng ny, c th thy mt tn ti ln l cha thu ht c ti a tin gi khng k hn, tin nhn ri trong dn c vo h thng ngn hng, trn c s la chn cc dch v thanh ton qua ngn hng hay rt tin mt ra chi tiu bt c lc no c nhu cu. y l ngun vn rt ln v rt quan trng, to cho pht trin th trng tin t, bi v n gia tng ngun tin gi khng k hn, gia tng vn kh dng cho cc TCTD. IV) V qu trnh xy dng v pht trin th trng chng khon: Sau mt thi gian xy dng v pht trin, n nay c trn 100 cng ty nim yt c phiu v mt s loi tri phiu c nim yt trn trung tm giao dch chng khon Thnh ph H Ch Minh. Trong lnh vc ny, h thng ngn hng tip tc ng vai tr tch cc trong pht trin th trng chng khon, vi hu ht trong s gn 50 cng ty kinh doanh chng khon ang hot ng l trc thuc cc ngn hng thng mi, vi a dng cc nghip v: mi gii, t vn u t, lu k chng khon, cho vay thanh ton chng khon... Hu ht cc cng ty ny u kinh doanh c hiu qu. Mt s cng ty t chc i l u thu c phiu ca mt s NHTM c phn pht hnh mi tng thm vn iu l. NHNN cng ban hnh quy nh tm thi v vic nim yt c phiu ca NHTM c phn trn Trung tm giao dch chng khon. Hin nay nhiu NHTM c phn sn sng nim yt c phiu trn Trung tm giao dch chng khon. c bit hin nay NHTM c phn Si Gn Thng Tn c n v h s ngh Ngn hng Nh nc cho php vn ny. Tuy cha chnh thc nim yt giao dch trn Trung tm giao dch chng khon, nhng thi gian qua, c phiu ca nhiu NHTM c phn giao dch n l, khng chnh thc trn th trng phi tp trung OTC. Mnh gi c phiu ca nhiu NHTM c phn c giao dch cao gp 1,1 ln n 2,5 ln so vi mnh gi ban u. Uy tn trong v ngoi nc ca nhiu ngn hng thng mi c phn ngy cng tng ln. Nhiu t chc ti chnh quc t v ngn hng nc ngoi v ang mua c phn, chuyn giao cng ngh ngn hng hin i, h tr v ti chnh cho cc ngn hng thng mi c phn. Th tng Chnh ph chnh thc c quyt nh c phn ha Ngn hng Ngoi thng Vit Nam. Theo k hoch, Ngn hng ngoi thng Vit Nam ang trin khai bc u tin c phn ha. Tng gi tr c phiu pht hnh trn hai Trung tm giao dch chng khon tng vn iu l vo khong 1.000 t ng. Vi khi lng gi tr c phiu ln nh vy nu c giao dch v nim yt trn hai Trung tm giao dch chng khon, th chng khon giao dch ch yu ca hai Trung tm ny s l c phiu ca Ngn hng Ngoi thng Vit Nam. Tip theo s l Ngn hng pht trin Nh ng bng sng Cu Long v Ngn hng u t-pht trin Vit Nam cng ngh c c phn ha. Khi chc chn hot ng ca hai Trung tm giao dch chng khon s si ng hn ln, to nn tng mi cho s pht trin th trng chng khon Vit Nam. V) Mt s nh gi v thc trng pht trin th trng ti chnh nc ta

V th trng vn ngn hn hay cn gi l th trng tin t. Nhn chung th trng ny cha pht trin v Ngn hng Nh nc NHTW, cha thc s ng vai tr can thip c hiu qu vo th trng ny. Cc loi li sut ca NHTW: li sut c bn, li sut ti cp vn, li sut chit khu, li sut nghip v th trng m, li sut u thu tn phiu kho bc nh nc c tc ng r nt n th trng. Cc cng c iu hnh chnh sch tin t, c bit l cng c d tr bt buc... thiu linh hot. Cc NHTM v T chc tn dng cnh tranh vi nhau tng li sut huy ng vn mt cch mt chiu, to nguy c tim n ri ro cho chnh cc NHTM. V th trng chng khon. C th khng nh rng, trong tin trnh pht trin Th trng chng khon Vit Nam, tim nng ca vic tham gia ca cc NHTM l rt ln. Vic cc NHTM c phn nim yt c phiu trn Trung tm giao dch chng khon, cc NHTM NN c phn ha thc hin pht hnh c phiu ln u trn Trung tm, cng nh ti y s c thm mt s Cng ty kinh doanh chng khon ca cc NHTM i vo hot ng... s to thc y th trng chng khon Vit Nam pht trin mnh hn na. Song cho n thi im ny, mi ch c gn 100 cng ty c phn nim yt c phiu trn Trung tm giao dch chng khon Thnh ph H Ch Minh l qu t, to ra s ngho nn hng ha trn th trng chng khon. C phiu ca cc NHTM cha c nim yt v giao dch cng phn no hn ch tnh si ng ca th trng. Tnh thanh khon ca th trng cha cao. Thng tin cha tht s minh bch. VI) Nguyn nhn ca tnh trng trn: Ngn hng TW cha thc s mnh, nng lc iu hnh chnh sch tin t v vn hnh nghip v NHTW cn hn ch. Hat ng dch v ca cc NHTM v TCTD cha pht trin. Tin trnh c cu li cc NHTM cha t c cc kt qu nh d kin, c bit l x l n xu ang c xu hng gia tng tr li. Vic tng vn iu l m bo t l an ton theo thng l quc t. Tin trnh c phn ha DNNN ni chung, c phn ha NHTM Nh nc ni ring cn rt chm, y cng l lc cn cho s pht trin th trng chng khon Vit Nam. Bn cnh , vic Hi ng qun tr cc NHTM c phn c t tng chn ch, chm a c phiu ca cc NHTM c phn ca mnh nim yt trn Trung tm giao dch chng khon, cng lm chm tin trnh ni trn. VII) Gii php v kin ngh cho pht trin th trng ti chnh nc ta trong thi gian ti: Vit Nam khng th y qu nhanh vic xy dng th trng ti chnh, cng nh th trng chng khon vt ln trn s pht trin chung ca nn kinh t, tc l phi pht trin ng b, tt nhin l phi c s u tin xy dng cc tin , c s h tng no . Chng ta khng th nn nng, cng nh khng th ngi ch cho iu kin c. Nh phn u bi vit cp, th trng tin t v th trng chng khon c mi lin h mt thit vi nhau. Khi li sut trn th trng tin t tng ln, khi th trng tin t nng ln, th th trng chng khon cng si ng. Pht trin th trng tin t, lm tng tc chu chuyn vn ngn hn trong nn kinh t, nng cao kh nng kinh doanh trn th trng tin t ca cc t chc trung gian ti chnh, to iu kin cho cc t chc ny sn sng tham gia c hiu qu trn th trng chng khon. Theo mt s xut v kin ngh nh sau: - Ngn hng Nh nc v B Ti chnh, trc tip l y ban chng khon Nh nc phi hp cht ch mnh dn a 2-4 NHTM c phn u tin nim yt c phiu trn Trung tm giao dch chng khon. Phi hp cht ch, trn c s ti tr quc t, t chc cc cuc hi tho, kha o to, tp hun ngn ngy v nghip v kinh doanh chng khon v nim yt c phiu ca NHTM trn th trng chng khon. B Ti chnh cng nn cng NHNN tp trung tho g vng mc trong vic nh gi NHTM v mt s gii php khc y nhanh tin trnh c phn ha hai NHTM NN u tin theo k hoch. - Ngn hng Nh nc v B Ti chnh phi hp tng khi lng tn phiu Kho bc Nh nc u thu hng qu, hng nm. C th tng tn sut cc phin u thu t 1 phin/1tun hin nay ln 2 phin/tun. Linh hot hn na li sut u thu qua cc phin theo st din bin trn th trng. Thi hn tn phiu cng c th a dng hn, nh k hn 60 ngy, 90 ngy... thay cho ch c loi 360 ngy nh hin nay. Cn c c ch cc NHTM c phn v Ngn hng khc c quy m nh hn c th trng thu tn phiu trn th trng ny. c bit l B Ti chnh cn c bin php a cc Cng ty bo him, t chc bo him tham gia u thu tn phiu, khng nn tnh trng lng ph vn hay quan h tin gi khng k hn trc tip vi cc TCTD nh hin nay. - Ngn hng Nh nc c bin php bo m tnh h thng ca Qu tn dng, c c ch iu ha vn linh hot hn ca h thng ny. Trn c s to iu kin thu ht Qu tn dng tham gia th trng lin ngn hng v cc dng khc ca th trng tin t so NHNN t chc, vn hnh.

- NHNN nng cp th trng ni t lin ngn hng, th hin r vai tr can thip cui cng ca NHNN trn th trng ny. Tin ti cng b c li sut th trng ni t lin ngn hng Vit Nam do l li sut ch o ca Ngn hng Nh nc Vit Nam. - Bn thn cc T chc trung gian ti chnh cn phi nhanh chng a dng ha cc nghip v kinh doanh ca mnh, nht l nghip v kinh doanh trn th trng tin t theo thng l quc t. Cc NHTM mnh dn u t hn na cho cc nghip v kinh doanh chng khon v thu ht tin gi khng k hn, dch v thanh ton cho khch hng. y cng chnh l cc nh u t c nhn trn th trng chng khon trong thi gian ti, cng nh l khch hng tim nng ca nghip v kinh doanh chng khon m Ngn hng thng mi cn nhm ti thu ht./.

Ngi gi: tuntt -- 02/01/2007 08:46 AM Cc t chc ti chnh phi ngn hng Bi ny thuc s kin/chuyn : Gii thiu cc t chc ti chnh phi ngn hng ( Bnh chn: 0 11251) -- Tho lun: 1 -- S ln c: NG NHP Tn truy cp: Mt khu:

Lu thng tin

Tuy cc ngn hng l t chc ti chnh m chng ta thng giao dch nht, nhng khng phi tt c cc t chc ti chnh u ch l cc ngn hng. Gi s bn mua bo him ca mt cng ty bo him, vay mt mn tr dn ca mt cng ty ti chnh mua mt xe hi mi, hoc mua mt s c phiu qua s gip ca mt ngi mi gii. Trong mi v giao dch ny bn ang giao tip vi mt t chc ti chnh phi ngn hng. Trong nn kinh t ca chng ta, cc t chc ti chnh phi ngn hng ng mt vai tr quan trng trong vic khi cc ngun vn t nhng ngi cho vay - t ngi tit kim ti ngi vay - nhng ngi chi tiu y nh mt ngn hng. Hn th, qu trnh i mi ti chnh ( M) tng tnh quan trng ca cc t chc ti chnh phi ngn hng. Qua i mi, cc t chc ti chnh phi ngn hng cnh tranh trc tip hn vi cc ngn hng qua cc dch v tng t nh hot ng ngn hng. Cc t chc ti chnh phi ngn hng ch yu hot ng nh th no v h c iu hnh ra sao? CC CNG TY BO HIM Hng ngy chng ta i mt vi kh nng xy ra nhng tai ha no , chng c th a n cc tn tht ti chnh ln. Tin thu nhp ca mt cp v chng c th mt i do ci cht hoc bnh tt. Mt tai nn xe hi c th phi sa cha tn km hoc cc chi ph cho ngi b thng. Bi v tn tht ti chnh do nhng khng hong c th l rt ln so vi cc ngun ti chnh ca chng ta, bo v chnh bn thn chng ta cn mua mt hp ng bo him. Hp ng s thanh ton cho chng ta mt khon tin nu cc s kin tai ha xy ra. Cc cng ty bo him sinh mng chuyn mn ha trong vic bn cc hp ng bo him chu cp thu nhp nu mt c nhn b cht, b mt nng lc v bnh tt, hay v hu. Cc cng ty bo him tai nn v ti sn chuyn mn ha trong vic hp ng bo him cc tn tht do hu qu ca cc tai nn, chy hoc trm cp.

Qun mt khu Ti sao Saga? 1 Bi vit vng / 17 Bi vit bc

Lin h nng: YM: sagarina sagavietnam Email: info@saga.vn

Cc nguyn tc qun l bo him Cc cng ty bo him, tng t nh cc ngn hng, thc hin kinh doanh trung gian ti chnh chuyn ti sn t mt dng ny thnh mt dng khc cho cng chng. Cc cng ty bo him s dng ph bo him thu c nh bn cc hp ng bo him u t vo cc ti sn c, v d nh cc tri phiu, cc c phiu, cc mn vay th chp hoc cc mn vay khc...; ri t nhng ti sn c ny c dng thanh ton cho nhng yu cu i bi thng theo cc hp ng bn. Thc t, cc cng ty bo him chuyn cc ti sn c, v d nh cc tri phiu, c phiu v cc mn cho vay thnh cc hp ng bo him, vic to ra nhiu dch v (v d, dn xp khiu ni i bi thng, cc chng trnh tit kim, cc i l bo him tin cy). Nu qu trnh sn xut chuyn i ti sn ca mt cng ty bo him cung cp c hiu qu cho khch hng ca mnh nhng dch v bo him xng ng vi gi h v nu n thu c li tc cao trong cc v u t ca mnh th n s to ra li nhun; cn nu khng th n s chu tn tht. Trong trng hp mt hp ng bo him, ri ro o c xy ra khi c bo him s khuyn khch bn c bo him mang ly ri ro, vic ny lm tng kh nng ca mt v thanh ton bo him. V d, mt c nhn c bo him mt trm ban m, c th h khng thc hin nhiu bin php phng ngn nga mt trm, bi v c cng ty bo him n b cho ngi phn ln cc tn tht nu ngi b mt trm. Chn la i nghch xy ra khi

nhng ngi d nhn c nht cc tin bo him ln l nhng ngi mun mua bo him nht. V d, mt ngi ang b mt chng bnh kh qua khi s mun mua hp ng bo him y t sinh mng ln nht c th c; v th cng ty bo him ny b t trc nhng tn tht tim n to ln. C la chn i nghch v ri ro o c u c th a n cc tn tht ln cho cc cng ty bo him bi v chng to ra nhng khon thanh ton cao cho cc khiu ni i bo him. Do vic lm ti thiu ha la chn i nghch v ri ro o c gim cc khon thanh ton ny l mt mc tiu cc k quan trng i vi cc cng ty bo him v mc tiu ny gii thch mt lot cc phng thc thc hnh bo him sau y: Sng lc. gim bt s la chn i nghch, cc cng ty bo him c gng sng lc nhng ngi mang bo him ri ro tt khi nhng ngi mang bo him ri ro ti. Do vy cc phng thc tp hp thng tin c hiu qu l mt nguyn tc quan trng trong qun l bo him. Khi bn np n xin bo him t, vic u tin m nhn vin bo him phi lm l hi bn nhng cu v h s li xe ca bn (s phiu vt tc , cc tai nn), kiu loi xe bn s bo him v ngay c cc vn c nhn (tui, tnh trng hn nhn). Nu bn mun bo him sinh mng, bn s qua mt hng ro tng t, nhng bn c hi nhng cu cn mang tnh cht c nhn hn v nhng th nh sc khe, cc thi quen ht thuc, vic dng thuc v dng ru ca bn. Cng ty bo him sinh mng thm ch cn khm nghim bn bng cch ly mu mu v nc tiu. Ging nh mt ngn hng tnh ton im tn dng nh gi con ngi c th vay tin, cng ty bo him ny s dng thng tin bn cung cp quy bn vo mt cp ri ro - mt php o thng k v kh nng bn c th c khiu ni i bi thng. Da vo thng tin ny, cng ty bo him c th quyt nh chp nhn hoc bc b yu cu bo him ca bn, bi v bn a ra mt bo him ri ro qu ln v nh vy s l mt khch hng khng c li nhun i vi cng ty bo him ny. Ph bo him ri ro. i vi cng ty bo him, vic thu ph bo him trn c s mc ri ro ca mt ngi c bo him (c gi l cc ph bo him ri ro) l mt nguyn tc qun l bo him ng n. Chn la i nghch gii thch v sao nguyn tc ny li quan trng n nh vy i vi kh nng sinh li ca cng ty bo him. hiu v sao mt cng ty bo him thy cn thit c cc ph bo him ri ro, chng ta hy xem xt mt v d v cc ph bo him ri ro m thot nhn c v khng cng bng. Hary v Sally, c 2 sinh vin i hc khng c phiu tai nn hoc phiu li xe qu tc , np n xin bo him t. Thng thng, Hary s chu ph bo him cao hn nhiu so vi Sally. Cc cng ty bo him lm nh vy v nhng ngi n ng tr c mc tai nn cao hn nhiu, tnh trunh bnh, so vi nhng ph n tr. Tuy vy, gi s mt cng ty bo him khng tnh cc ph bo him ca n trn c s mt s phn loi ri ro, m ch tnh mt ph bo him trn c s lng trung bnh ri ro nam gii v n gii. Lc y Sally s tn nhiu tin v Harry tn qu t. Sally c th n mt cng ty bo him khc v c mt gi thp hn, lc Harry s k vo hp ng bo him ca mnh. V ph bo him ca Harry khng cao cho vic thanh ton cho cc tai nn m anh ta c th c, tnh trung bnh cng ty ny s b tn thp v Harry. Ch vi mt ph bo him da trn mt phn loi ri ro, Harry chu ph tn tht nhiu hn v cng ty bo him ny c th c li nhun. Nhng iu khon hn ch. Nhng iu khon hn ch trong cc hp ng l mt cng c qun l gim bt ri ro o c. Cc iu khon nh vy lm nhng ngi gi hp ng nn lng khng thc hin nhng hot ng ri ro lm cho mt khiu ni bi thng bo him kh c th xy ra. Mt iu khon hn ch ngi gi hp ng hng li v hnh vi c x khin cho mt khiu ni i bi thng d c th xy ra. V d, cc cng ty bo him sinh mng c nhng khon trong cc hp ng ca h n hm loi b tin tr cp cht nu ngi c bo him t t trong phm vi hai nm u tin m hp ng ny c hiu lc. Cc iu khon hn ch cng c th i hi mt thi c x no v pha ngi c bo him cho mt khiu ni i bi thng kh c th xy ra. Mt cng ty cho thu xe m t ba bnh c th yu cu cung cp cc m an ton cho ngi thu trnh mi trch nhim gn vi vic cho thu. Vic phng nga gian ln. Cc cng ty bo him cng i mt vi ri ro o c bi v mt nhn vin bo him c mun ni di cng ty v tm cch c mt khiu ni i bi thng cho d khiu ni ny khng c cn c. V d, mt ngi khng tun theo cc iu khon hn ch ca mt hp ng bo him c th vn mun tm kim mt khiu ni. T hn, mt ngi c th a ra nhng khiu ny m thc t khng xy ra. Nh vy, mt nguyn tc qun l quan trng cho nhng cng ty bo him l thc hin nhng cuc iu tra ngn nga gian ln, ch nhng ngi khiu ni c cn c mi nhn c bi thng. Hy b bo him. Sn sng hy b cc hp ng l mt cng c qun l bo him khc. Cc cng ty bo him c th kim ch ri ro o c nu h e da hy b mt hp ng khi ngi no ang bo him c nhng hot

ng m d khiu ni i bi thng. Nu cng ty bo him t ca bn cho thy li xe no b qu nhiu phiu qu tc h s hy b quyn bo h ca anh ta iu s lm bn b mun chy qu tc . Khon khu tr. Khon khu tr l mt khon tin c nh c khu tr t tn tht ca ngi c bo him khi c thanh ton. V d, mt khon khu tr 250 la ca mt hp ng bo him t c ngha l khi bn chu mt tn tht 1000 la do mt tai nn, cng ty bo him ch thanh ton cho bn 750 la. Cc khon khu tr l mt cng c qun l ph cp cho cc cng ty bo him gim ri ro o c. Khon khu t l phn bn gnh chu mt tn tht cng vi cng ty bo him khi khiu ni i bi thng c thc hin. Bi v bn cng b tn tht khi gp mt tai nn, nn bn s li xe cn thn hn. Nh th mt khon khu tr khin cho ngi c bo him hnh ng ph hp hn v nhng g c li cho cng ty m ngi mua bo him; tc l, ri ro o c c gim xung. Do ri ro o c c gim, nn chi ph bo him ca cng ty h thp hn c so vi mc phi bi thng l nh tc dng ca khon khu tr. ng bo him. Khi mt ngi c bo him cng gnh chu mt t l tn tht vi cng ty bo him, s dn xp nh th c gi l ng bo him. V d, mt s chng trnh bo him y t m nhn 80% ha n thanh ton y t v ngi c bo him thanh ton 20% sau khi s tin khu tr no c tha mn. ng bo him c tc dng gim ri ro o c hon ton ging nh cc thc m mt khon khu tr tc ng. Do ngi c bo him phi gnh chu mt tn tht cng vi cng ty bo him, ngi gim bt mun thc hin nhng hot ng nh l vic i cha bnh mt cch khng cn thit- vic c lin quan n cc khiu ni mun i bi thng nhiu tin hn. Nh th, ng bo him l mt cng c qun l khc rt hu ch cho cc cng ty bo him. Nhng gii hn ca s tin bo him. Mt nguyn tc quan trng khc ca vic qun l bo him l phi c nhng gii hn i vi s tin ca bo him c cung cp, mc d mt khch hng sn lng thanh ton c thm tin bi thng. Tin bi thng bo him cng ln th ngi c bo him cng d tham gia hn trong cc hot ng ri ro, khin cho vic thanh ton bo him d c th xy ra v do ri ro o c ln hn. V d, nu mt ngi c mt hp ng bo him sinh mng 10 triu la, c ta c th li xe mt cch liu lnh bi v c ta bit gia nh c ta s thu li khng l nu c ta cht. Nhng nu c ta c mt hp ng 10.000 la th c ta phi li xe cn thn bi v c ta bit rng gia nh c ta s khng giu c sau ci cht ca c. Cc cng ty bo him phi lun lun m bo rng tin bi thng bo him ca h khng cao n mc ri ro o c dn n cc tn tht ln. Ton b cc nguyn tc qun l bo him ny - vic gii hn s tin bo him, ng bo him, khon khu tr, vic hy b bo him, ngn nga gian ln, v cc iu khon hn ch - gip cc cng ty bo him gim bt chn la i nghch cng nh ri ro o c. Nh chng ta thy, cc cng c qun l ny lm cho nhng ngi c bo him kh kim li bng cch thc hin nhng hot ng lm tng s tin bi thng. Vi nhng li nhun nh hn c th c c, nhng ngi mang ri ro bo him ti (tc l nhng ngi d c th thc hin nhng hot ng mo him), thy c t li trong bo him do t c th tm n bo him. V d, mt ngi c bnh sp cht t c th mua bo him sinh mng nu s tin bi thng theo hp ng l nh. Tri li, ngi s ro rit hot ng c mt hp ng bo him nu s tin ni trn l ln. Nhng cng c qun l bo him lm gim ri ro o c v do cng lm gim chn la i nghch nh th gip tng c tnh sinh li ca cc cng ty bo him. Tm tt. cng vic qun l c hiu qu, i hi mt s bin php thc hnh: tp hp thng tin v sng lc nhng ngi c xu th mua bo him cc phiu bo him da trn c s ri ro, cc iu khon hn ch vic ngn nga gian ln, hy b bo him, cc khon khu tr, ng bo him, v nhng mc gii hn i vi s tin bo him. Tt c nhng phng thc thc hnh ny dng gim ri ro o c v chn la i nghch

Ngi gi: tuntt -- 04/01/2007 12:33 PM Cc t chc ti chnh phi ngn hng (P.2) Bi ny thuc s kin/chuyn : Gii thiu cc t chc ti chnh phi ngn hng ( Bnh chn: 1 10290) -- Tho lun: 0 -- S ln c: NG NHP Tn truy cp: Mt khu:

Lu thng tin

CC QU TR CP Trong vic thc hin chc nng trung gian ti chnh chuyn i ti sn, cc qu tr cp em li cho cng chng mt loi bo v khc - thanh ton tin thu nhp hu tr. Nhng ngi thu nhn cng, cc lin hip hoc cc c nhn c th ra nhng chng trnh tr cp, cc chng trnh ny thu nhn tin vn do cc ngi tham d chng trnh np vo. Tuy mc ch ca tt c cc chng trnh tr cp l nh nhau, cc chng trnh ny c th khc nhau theo mt s c tnh. Th nht l iu kin thuc vo chng trnh, tc l s thi gian m mt c nhn phi c ghi tn vo chng trnh tr cp (do l mt thnh vin ca mt lin hip hoc do l mt ngi lm thu cho mt cng ty) trc khi c quyn nhn tr cp. Ni chung cc cng ty i hi mt ngi lm thu lm vic 5 nm cho cng ty trc khi ngi c coi l iu kin thuc v mt chng trnh v c th nhn cc tr cp, nu ngi lm thu ri b cng ty trc khi 5 nm, d l t ra i hoc b thi hi, tt c quyn hng tr cp b mt. Th hai l phng php thanh ton: nu cc khon tr cp c xc nh bng cc khon ng gp vo chng trnh v cc khon thu nhp, th s tr cp ny l mt chng trnh ng gp c nh r; nu cc khon tin thanh ton thu nhp tng lai (cc khon tr cp, c ra t trc), th s tr cp ny l mt chng trnh tr cp c nh r. i vi trng hp mt chng trnh tr cp c nh r, c thm mt c tnh na c lin h n vic chng trnh c cp vn nh th no. Do c tnh ny phc tp hn, chng ta s xem xt n mt cch chi tit hn. Mt chng trnh tr cp c nh r, gi l c cp vn nu cc khon ng gp vo chng trnh ny v cc thu nhp chng qua cc nm thanh ton cc khon tr cp c nh r khi n k hn thanh ton. Nu cc khon ng gp v cc khon thu nhp khng , th chng trnh nh vy c gi l chng trnh c cp vn thiu. V d, nu Jane Brown gp 100 la mi nm vo mt chng trnh tr cp ca c ta v li sut l 10%, sau 10 nm cc khon ng gp ca c v cc thu nhp do chng mang li s ng gi 1753 la. Nu mn tr cp c nh r ny i vi chng trnh tr cp ca c ta thanh ton cho c ta 1753 la hoc t hn sau 10 nm, th chng trnh c cp vn bi cc ng gp ca c ta v cc thu nhp s cho cuc thanh ton ny. Nhng nu khon tr cp c nh r ny l 2000 la, th chng trnh gi l c cp vn thiu bi v cc ng gp ca c ta v cc thu nhp khng trang tri mn tin tr cp nh r 2000 la ny.

Qun mt khu Ti sao Saga? 1 Bi vit vng / 17 Bi vit bc

Lin h nng: YM: sagarina sagavietnam Email: info@saga.vn

Cc chng trnh tr cp ring Cc chng trnh tr cp ring c qun l bi mt ngn hng, mt cng ty hoc bo him sinh mng, hoc mt ngi qun l qu tr cp. Trong cc chng trnh tr cp do nhng ngi thu nhn cng u, cc khon ng gp thng c chia s gia ngi thu v ngi lm thu cho ngi . Mt s hp dn v thu quan trng i vi cc chng trnh ny l ch nhng khon ng gp ca ngi lm thu nhn cng l nhng khon khu tr thu. V cc khon tr cp c thanh ton do qu tr cp hng nm c th d tnh mc chnh xc cao, cc

qu tr cp u t vo cc chng khon di hn, vi hn 1/2 gi tr ti sn c ca h l cc tri khon v cc c phiu. Chng trnh tr cp ca nhiu cng ty l c chng trnh c cp vn thiu bi v h d tnh thanh ton ht ngha v tr cp ca h nh cc thu nhp hin hnh khi cc khon tr cp n hn thanh ton. Chng no cc cng ty cn c thu nhp, vic cp vn thiu khng gy ra vn g, nhng vic ny khng lun lun nh vy. Do cc kh khn tim n trong vic cp vn thiu ca cng ty, do qun l ti, do cc th on gian ln, v do nhng lm dng khc ca cc qu tr cp ring gy ra{ cc qy tr cp ca nhng ngi li xe ti l ni ting), Quc hi ban hnh o lut v bo m thu nhp hu tr ca nhng ngi lm cng (the Employee Retirement Income Security Act-ERISA) nm 1974. o lut ny thit lp tiu chun ti thiu cho vic bo co v tit l thng tin, t ra cc quy tc v iu kin thuc vo chng trnh v mc ca vic cp vn thiu, v t cc hn ch v cc phng thc thc hnh u t. ERISA cng lp ra Cng ty Bo m Tr cp (c gi l "Penny Benny", cng ty ny thc hin vai tr tng t vai tr ca FDIC. N bo him cc khon tr cp ln ti mt gii hn 2250 la mt thng mt ngi nu mt cng ty vi mt chng trnh tr cp thuc loi cp vn thiu i n ch ph sn hoc khgn th thanh ton cc ngha v tr cp ca mnh v nhng l do khc. Penny Benny thu ca cc chng trnh tr cp cc ph bo him thanh ton cho s bo him ny. Khng may l Penny Benny ngi bo him cc tr cp ca mt trong 3 ngi lm cng, ang ng phi nhng kh khn ti chnh nghim trng, iu c th cn n mt s bo lnh lin bang. Cc chng trnh tr cp cng ng Chng trnh tr cp cng ng quan trng nht l bo him x hi, n bo him cho hu ht mi c nhn lm thu cho gii t nhn. Vn thu c t nhng ngi lao ng ca FICA (o lut ng gp bo him lin bang) c tnh t nhng sc thanh ton v t thu theo bng lng ca cc ch thu nhn cng. Cc khon tr cp bo him x hi bao gm tin thu nhp hu tr, tin thanh ton y t v tr gip ngi tn tt. Khi Bo him x hi c thnh lp nm 1935, chnh ph lin bang d nh cho n hot ng nh mt qu tr cp ring. Tuy nhin khng ging nh mt chng trnh tr cp ring, cc khon tr cp thanh ton khng b gn vo nhng ng gp trong qu kh ca mt ngi giam gia, do ni chung cc khon tr cp ny c thanh ton theo nhng ng gp hin hnh. H thng "tr khi c tin" (pay - as - you - go) ny dn n mt s cp vn thiu to ln ca qu Bo him x hi, c tnh trn 100 t la. Cc vn ca h thng Bo him x hi ny c th tr nn ti t hn trong tng li bi v s ngi M gi i ngy cng nhiu s dn n s ngi hu tr ln hn so vi s ngi ang lm vic. Quc hi vn ang vt ln vi cc vn ca h thng bo him x hi t nhiu nm nay v c tin b trong vic to vic lm gim c vn cp thiu l nh cch tng cc khon ng gp FICA v gii hn cc khon tr cp. Cc chnh quyn tiu bang v a phng v chnh ph lin bang, ging nh nhng ngi ch thu t, cng t ra cc chng trnh tr cp cho nhng ngi lm thu cho h. Cc chng trnh ny hu nh tng t v hot ng nh cc chng trnh tr cp ring v nm gi nhng ti sn c tng t. Vic cp vn thiu ca cc chng trnh cng thng thy v mt s nh u t tri khon a phng lo ngi rng n c th dn n nhng kh khn tng li v kh nng ca cc chnh quyn tiu bang v a phng trong vic thanh ton n ca h.

im khc bit gia cng ty ti chnh vi ngn hng thng mi

NCS. on Ngc Lu (TCTy Ti chnh du kh VN) Tp ch K Ton Gi email Bn in 02:22' PM - Th nm, 20/11/2008

Trong nn kinh t th trng m ca v hi nhp, c bit l vi s bng n ca th trng chng khon trong vi nm tr li y, cng ty ti chnh khng cn l khi nim xa l Vit Nam. Tuy nhin, trong thc t, rt nhiu ngi cn nhm ln gia cng ty ti chnh vi cc cng ty c thnh lp theo Lut Doanh nghip ni chung hay ranh gii gia t chc ngn hng vi cng ty ti chnh. Bi vit ny s so snh mt s im khc bit gia cng ty ti chnh v ngn hng thng mi nhm gip bn c c thm thng tin phn bit vi cc loi hnh doanh nghip khc. Bn cht v phm vi hot ng Cng ty ti chnh l loi hnh t chc tn dng phi ngn hng, vi chc nng l s dng vn t c vn huy ng v cc ngun vn khc cho vay, u t; cung ng cc dch v t vn v ti chnh, tin t v thc hin mt s dch v khc theo quy nh ca php lut, nhng khng c lm dch v thanh ton, khng c nhn tin gi di mt nm. Trong khi , ngn hng l loi hnh t chc tn dng c thc hin ton b hot ng ngn hng v cc hot ng kinh doanh khc c lin quan, c th l hot ng kinh doanh tin t v dch v ngn hng vi ni dung thng xuyn l nhn tin gi, s dng s tin ny cp tn dng v cung ng cc dch v thanh ton. Mc vn php nh Cng ty ti chnh v ngn hng u phi c vn php nh, song vn php nh ca cng ty ti chnh thp hn ngn hng. Theo Ngh nh 141/2006/N-CP, ngy 22/11/2006 ca Chnh ph, cng ty ti chnh c cp giy php thnh lp v hot ng sau ngy Ngh nh 141/2006/NCP ca Chnh ph c hiu lc v trc ngy 31/12/2008 th phi c mc vn php nh l 300 t ng; cng ty ti chnh c cp giy php thnh lp v hot ng sau ngy 31/12/2008 th phi c mc vn php nh l 500 t ng. Nhng vn php nh i vi mt ngn hng p dng cho n nm 2008 khng thp hn 1.000 t ng, ty theo loi hnh ngn hng v p dng cho n nm 2010 tr i khng thp hn 3.000 t ng. Loi hnh t chc hot ng Ngh nh s 79/2002/N-CP ngy 4/10/2002 ca Chnh ph phn chia cng ty ti chnh thnh cc loi: cng ty ti chnh nh nc, cng ty ti chnh c phn, cng ty ti chnh trc thuc cc t chc tn dng, cng ty ti chnh lin doanh v cng ty ti chnh 100% vn nc ngoi. Cch phn chia ny hin khng cn tng thch vi Lut Doanh nghip hin hnh Vit Nam. Theo d tho sa i Ngh nh hng dn ca Chnh ph, quy nh cng ty ti chnh ch c thnh lp theo mt trong ba loi hnh sau: cng ty ti chnh TNHH mt thnh vin; cng ty ti chnh TNHH hai thnh vin tr ln v cng ty ti chnh c phn. Xt kha cnh no th ngn hng hot ng nh mt doanh nghip. Tuy nhin, xt v tnh cht v mc tiu hot ng, ngn hng li chia thnh ngn hng thng mi, ngn hng pht trin, ngn hng u t, ngn hng chnh sch, ngn hng hp tc v cc loi hnh ngn hng khc.

Thi hn hot ng Thi hn hot ng ca cng ty ti chnh ti a l 50 nm. Trng hp cn gia hn thi hn hot ng, phi c Ngn hng Nh nc Vit Nam chp thun, nhng mi ln gia hn khng qu 50 nm. Trong khi , thi hn hot ng ca cc ngn hng khng b php lut khng ch. C hi cnh tranh v li ch mang li Xt kha cnh no , cc cng ty ti chnh s chu p lc cnh tranh mc thp hn so vi ngn hng. Theo cam kt WTO, ch c ngn hng thng mi nc ngoi v cng ty ti chnh nc ngoi mi c thnh lp cng ty ti chnh lin doanh v cng ty ti chnh 100% vn u t nc ngoi. T chc tn dng nc ngoi ch c thnh lp cng ty ti chnh lin doanh hoc 100% vn u t nc ngoi nhng phi c tng ti sn trn 10 t USD vo cui nm trc thi im np n. Trong khi ngn hng hot ng rng v huy ng vn ch yu t cng chng th cng ty ti chnh huy ng vn ch yu t ni b tp on v nhm cng ty. V th, ri ro xy ra i vi cc cng ty ti chnh ch yu l do ni b tp on hay nhm cng ty gnh chu, rt t nh hng ti cng ng. Khi cc quan h kinh t trong tp on l minh bch v tun th ng php lut th kh nng xy ra ri ro l khng ln. Mt trong nhng hn ch ca cc cng ty ti chnh so vi cc t chc ngn hng l khng c lm dch v thanh ton v nhn tin gi di 1 nm. Tuy vy, cc cng ty ti chnh hin nay khc phc bng vic pht trin thm nhiu sn phm dch v mi nh dch v nhn y thc vn, nhn y thc u t bao thanh ton, thu xp vn,...v.v. cho c ngn hn, trung v di hn. Nhng dch v ny gip cng ty ti chnh thc hin c cc dch v khc tng t nh mt ngn hng thng mi. Nh vy, c th thy li ch ca cng ty ti chnh mang li cho cc doanh nghip l rt ln. Khng phi ngu nhin m trn th gii, cc tp on ln thng c t nht mt cng ty ti chnh. Cng ty ti chnh l cng c tp on iu tit vn v s dng vn mt cch c hiu qu v thun li nht. Trong phm vi ni b tp on hoc nhm cng ty c quan h li ch gn b, cng ty ti chnh c th d dng huy ng cc ngun vn nhn ri t cc cng ty thnh vin tp trung vn u t. Vi tnh ni b cao trong hot ng nghip v cng ty ti chnh c th kim sot ri r