What is centralized cashback forex of cashbackforexprofitcalculator cashbackforexpipcalculator cashbackforexcalculatorOnline Centralized management of foreign exchange funds is to take the groups internal finance company as the carrier, centralized operation cashback forex calculator Online management of domestic foreign exchange funds through the domestic foreign exchange funds centralized management account, centralized operation and management of foreign exchange funds through the foreign exchange funds centralized management account Foreign exchange funds centralized management of the way At present, the domestic centralized management of foreign exchange funds In the exploration of foreign exchange fund management business model, no single model can achieve the best effect of centralized foreign exchange fund management for multinational enterprise groups, and it is necessary for enterprises to "tailor-made" fund management model according to their own situation, which can better adapt to the complex business of enterprises and effectively deal with the foreign exchange received by domestic member units Adopting the way of balance pooling, the foreign exchange money collected daily to the members of the domestic foreign exchange funds centralized management account can use the funds in the centralized account to make external payments, which can avoid the problem that the groups internal import and export enterprises respectively go to external banks for settlement and sale of foreign exchange business, thus generating huge exchange costs, and also avoid the problem that some enterprises have a large surplus of foreign exchange funds, but another part of the enterprises need to finance to external banks because of their operation. At the same time, it can also avoid the problem that some enterprises have a large surplus of foreign exchange funds, while another part of enterprises have to go to external banks for financing because of their operation needs, resulting in external financing costs, strengthening the management and financial support of the parent company of the group to its overseas member companies, and realizing the fund management goal of global industrial sharing of the groups financial resources. Foreign exchange funds can not be transferred to each other, coupled with the account limit constraints, there are often members with more foreign exchange funds to settle foreign exchange, while members with less foreign exchange funds to purchase foreign exchange, members of the company itself in the month of foreign exchange revenue need to settle foreign exchange, foreign exchange revenue in the month of less need to purchase the situation, frequent settlement and sale of foreign exchange increased the workload of each member company and the cost of foreign exchange funds of multinational companies after the implementation of centralized management of funds. After the implementation of centralized fund management, the foreign exchange transfer channel between multinational companies and member companies is unblocked, and the foreign exchange fund balance can be transferred among member companies and between member companies and group companies, which reduces unnecessary foreign exchange settlement and sale links, saves finance costs, reduces the cost of using funds, and improves the overall economic efficiency of multinational companies (2) Improve the level of risk control and effectively avoid exchange rate risks can plan the foreign exchange funds of the group according to the capital budget of each member company, allocate the balance of foreign exchange funds within the group independently, and coordinate the currency, amount and period of export receipt according to the currency, amount and period of import payment, so as to realize the currency and period matching of assets and liabilities within the group. At the same time, the scale effect of centralized management of foreign exchange funds also facilitates multinational companies to organize professional teams to carry out the management of exchange rate risk avoidance in an orderly manner based on the principle of risk prevention and value preservation (3) Enhance the level of funds management and realize the optimal allocation of funds The implementation of centralized management of foreign exchange funds is conducive to the formation of a large scale The implementation of centralized management of foreign exchange funds is conducive to the formation of a large scale "pool of funds", which is convenient for multinational companies to realize comprehensive supervision and unified control of the flow and direction of foreign exchange funds by the group and ensure the coordinated, orderly and controlled operation of foreign exchange funds of the group. Under the centralized management mode, by pooling the surplus foreign exchange funds of each member company together, the group can not only seek higher interest rates on foreign exchange deposits and corresponding interest income through negotiation with banks, but also obtain investment income through short-term investment and other means to maximize the utility of the groups idle funds. The implementation of centralized management of foreign exchange funds strengthens the control ability of the group company over the capital budget of each member unit and transforms it from a management system of simple post-facto inspection and supervision to one of pre-prevention, mid-facto control and post-facto supervision, which enables effective monitoring of business activities and effectively prevents the occurrence of irregularities and improves the efficiency of the groups capital budget. At the same time, the centralized management of foreign exchange funds of multinational companies has objectively changed the single budget management system of funds in the past and formed an integrated budget management system of local and foreign currencies, which makes the centralized management of foreign exchange funds of multinational companies develop in a more scientific and standardized direction (I) Finance Company Model The finance company, as a subsidiary of multinational corporations, has independent legal personality and is a non-bank financial institution operating part of the banking business. The finance company exercises centralized management of foreign exchange funds within multinational corporations, accelerates capital turnover through internal transfers and settlements of the enterprise group, seeks investment opportunities for the idle funds of the enterprise group and provides a series of financial services for the group members to promote the comprehensive management and financial control of the group. Specifically, multinational companies determine the finance company as the groups centralized foreign exchange fund management institution, play its financial functions, use it as a carrier for group fund management and use the finance company to unify the temporary idle and scattered funds of subsidiaries, and then allocate the funds to the group members in need of funds in the form of issuing loans, so as to achieve mutual transfer of funds within the group, with effective, safe and profitable use of surplus funds. (2) Entrusted loan model Entrusted loan is simply a loan from one party to another, entrusted to a third party (commercial bank) to manage the commercial bank does not bear the risk of loan losses, but is only responsible for issuing, supervising and recovering the loan in accordance with the object or direction specified by the principal, the specified purpose and scope, and the agreed conditions (amount, term, interest rate, etc.). The model of centralized management of foreign exchange funds entrusted to the loan is an innovation and flexible use of the cooperative bank as the lender, the multinational company and other member companies as the principal and the borrower on the basis of "one-to-one" entrusted loans, through a series of legal agreements to regulate the entrusted loan Specifically, the competent company in the territory of the multinational corporation and the member companies open foreign exchange current account and the corresponding foreign exchange entrusted loan account for accounting in the same bank in the territory, and the entrusted loan account opened by the competent company in the territory of the multinational corporation is the main account of the multinational corporations domestic pool, and the other member companies in the territory of the multinational corporation open foreign exchange entrusted loan accounts by entrusting them to the competent company. Other member companies through the way of entrusted loans to the competent company, its foreign exchange account in the free disposal of its own foreign exchange funds transferred to the multinational company in charge of the main account of the pool, and then by the competent company to return to the domestic member companies, split, or to recover the entrusted loans between the domestic member companies to transfer the shortage of foreign exchange funds operation form of the implementation of centralized management of foreign exchange funds problems (a) The centralized management of foreign exchange funds realizes the free transfer and internal adjustment of foreign exchange funds between the mother and the subsidiary, which is of positive significance to multinational companies in terms of integrated management of foreign exchange funds, saving capital costs, avoiding exchange rate risks and maximizing the benefits of foreign exchange funds, etc. From the standpoint of the subsidiary, the relative control over the funds has been weakened, and the group will fully control and (2) Increase the difficulty of supervising the flow of foreign exchange funds After the centralized management of foreign exchange funds, multinational companies and their subsidiaries frequently transfer foreign exchange funds between them, compared with individual companies, both the total amount of foreign exchange revenue and expenditure and the number of inter-company foreign exchange fund transfers have increased significantly, while the frequent flow of large amounts of foreign exchange funds has increased the supervision of foreign exchange funds flow. The frequent flow of large foreign exchange funds has increased the difficulty of the foreign exchange supervision department to supervise the flow of foreign exchange funds, which has put forward new regulatory issues to the foreign exchange supervision department (3) The impact on cross-border capital flow The outstanding advantage of multinational corporations is that they can allocate resources globally, and the demand of multinational corporations for centralized management of foreign exchange funds is not only reflected in the centralization of foreign exchange funds of domestic institutions, but also requires centralized and unified management with overseas funds to realize the centralization of funds globally. The current foreign exchange management policy has not been completely liberalized for capital items, and there are certain restrictions on the cross-border concentration of foreign exchange funds of the domestic and overseas member companies of multinational corporations. The current foreign exchange management policy, although the "trade subject classification supervision" requirement is put forward under the current item, it is only implemented in the single item of settlement and sale of foreign exchange, and no subject supervision requirement is put forward under the capital item to restrict the financing behavior between enterprises without trade background. At present, foreign exchange management is still based on behavioral supervision, and has not fully realized the change to the main supervision, so it can not adapt to the requirements of effective supervision of multinational companies connected transactions Measures and suggestions to improve the centralized management of multinational companies foreign exchange funds 1. From the long-term perspective, it is suggested that the setting of budget objectives should be coordinated with the development strategy of the enterprise group, so that the budgets of each period of the enterprise can be connected with each other The improvement of budget management needs to be carried out in stages, the purpose of which is to make the enterprise group In order to ensure that the financial budget management can meet the requirements of each stage, the management and budget function of the enterprise group should make plans for the continuous improvement of budget management every year to help each functional department, division and subsidiary to understand the budget management process and operation. The foreign exchange fund management of group companies includes the preparation of fund plans and the real-time control of fund operation in the operation, financing and investment activities of the group and foreign subsidiaries, so as to achieve the purpose of accelerating fund operation and reducing fund risk from the perspective of the companys financial governance structure, including the following three main aspects, namely The configuration of financial power in the companys financial governance, the operation of the enterprise groups financial management control model, the guarantee and the solution of dynamic management of foreign exchange funds (1) The configuration of financial power in the companys financial governance From the perspective of corporate governance, the key factors affecting the centralized management of foreign exchange funds and the efficiency of the group companys financial control are the company system, including the companys property rights structure and the legal persons property rights related to it, in the company The internal configuration structure, especially the configuration structure of the financial power in the companys financial governance, the control subject through the chain of principal-agent, in the company group of domestic and foreign subsidiaries of different organizational structure, the hierarchical implementation of financial control rights, in order to ensure the smooth centralized management of foreign exchange funds (2) the operation of the enterprise group financial management control model to ensure (3) the solution of dynamic management of funds Design of the solution of dynamic management of foreign exchange Mainly consider the following issues :
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