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Miaaa · 2024年08月14日

spread不是差值的意思吗

NO.PZ2016031001000033

问题如下:

With respect to floating-rate bonds, a reference rate (such as MRR) is most likely used to determine the bond’s:

选项:

A.

spread.

B.

coupon rate.

C.

frequency of coupon payments.

解释:

B is correct.

The coupon rate of a floating-rate bond is expressed as a reference rate plus a spread. Different reference rates are used depending on where the bond is issued and its currency denomination, but one of the most widely used set of reference rates is MRR. A and C are incorrect because a bond’s spread and frequency of coupon payments are typically set when the bond is issued and do not change during the bond’s life.

考点:浮动利率债券

解析:对于浮动利率债券来说,coupon rate=reference rate+quoted margin,其中quoted margin是不变的。所以reference rate的变化主要影响的就是coupon rate,故选项B正确。

C选项:付息频率是在债券发行的时候就设定好的,比方我在发行债券的一开始就设定好半年付息一次或者每月付息一次等等,并且付息频率在债券的存续期内不会发生改变,故选项C不正确。

spread不是差值的意思吗,有固定差值

1 个答案

品职答疑小助手雍 · 2024年08月14日

嗨,从没放弃的小努力你好:


浮动利率债券的Coupon Rate=Reference rate + Quoted Margin

你说的固定差值指的是quoted margin。

题目问的是reference rate决定的是什么,那就是(加上固定的margin后)每期付的coupon了。

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