{"id":5336,"date":"2022-10-31T17:38:46","date_gmt":"2022-10-31T08:38:46","guid":{"rendered":"https:\/\/forum.trustonasset.com\/?p=5336"},"modified":"2022-11-03T14:14:54","modified_gmt":"2022-11-03T05:14:54","slug":"{853382fb9fed1234c07a338676456f691b244c6a4821bb844c1776e514e2eaae}ec{853382fb9fed1234c07a338676456f691b244c6a4821bb844c1776e514e2eaae}8b{853382fb9fed1234c07a338676456f691b244c6a4821bb844c1776e514e2eaa","status":"publish","type":"post","link":"https:\/\/forum.trustonasset.com\/?p=5336","title":{"rendered":"\uc2e0\uc885\uc790\ubcf8\uc99d\uad8c \ub72f\uc5b4\ubcf4\uae30"},"content":{"rendered":"\n \n

\uae08\ub9ac\uc758 \ubcc0\ub3d9\uc131\uc774 \uc2ec\ud574\uc9c0\uace0, \uc8fc\uac00\uc9c0\uc218\uac00\n\ud558\ub77d\uc138\ub97c \ubcf4\uc784\uc5d0 \ub530\ub77c \ucc44\uad8c \ub4f1 \uc8fc\uc2dd\uc774 \uc544\ub2cc \ub2e4\ub978 \uc0c1\ud488\ub4e4\uc5d0 \ub300\ud55c \ud22c\uc790\uac00 \ub300\uc548\uc73c\ub85c \uc8fc\ubaa9\ubc1b\uace0 \uc788\ub2e4. \ucc44\uad8c, ELS \ub4f1 \uc77c\ubd80 \uc775\uc219\ud55c \uc0c1\ud488\ub3c4 \uc788\uc9c0\ub9cc, \ucd5c\uadfc \u201c\uc2e0\uc885\uc790\ubcf8\uc99d\uad8c\u201d\uc774\ub77c\ub294 \ub0af\uc120 \uc774\ub984\uc758 \uc0c1\ud488\ub3c4 \uc885\uc885 \ub208\uc5d0 \ub748\ub2e4. \uc774 \uc2e0\uc885\uc790\ubcf8\uc99d\uad8c<\/strong>\uc774\ub780 \ubb34\uc5c7\uc77c\uae4c?<\/p>\n\n\n\n \n

\uc2e0\uc885\uc790\ubcf8\uc99d\uad8c<\/strong>\uc740 \uc8fc\uc2dd<\/strong>\uacfc \ucc44\uad8c<\/strong>, \uc635\uc158<\/strong>\uc758 \ud2b9\uc9d5\uc744 \ubaa8\ub450 \uac00\uc9c0\uace0 \uc788\ub2e4. \uc601\uad6c\ucc44\uad8c<\/strong>, \ud558\uc774\ube0c\ub9ac\ub4dc \ucc44\uad8c<\/strong>, \ucf54\ucf54 \ubcf8\ub4dc<\/strong>\ub77c\uace0\ub3c4 \ubd88\ub9b0\ub2e4. \uc601\uad6c\ucc44\uad8c\uc774\ub77c \ubd88\ub9ac\ub294 \uc774\uc720\ub294 \ub9cc\uae30\uac00 \uc815\ud574\uc838 \uc788\uc9c0 \uc54a\uac70\ub098, \ub9cc\uae30\uac00 \uc788\ub2e4\uace0\n\ud558\ub354\ub77c\ub3c4 \ubc1c\ud589\uc0ac\uac00 \uc9c0\uc18d\uc801\uc73c\ub85c \uc0c1\ud658\uc744 \uc5f0\uc7a5\ud560 \uc218 \uc788\uae30 \ub54c\ubb38\uc774\ub2e4. \ud558\uc774\ube0c\ub9ac\ub4dc \ucc44\uad8c\uc740 \uc8fc\uc2dd\uacfc \ucc44\uad8c\uc758 \ud2b9\uc9d5\uc774\n\ud63c\ud569\ub41c \ucc44\uad8c\uc774\ub77c\ub294 \uc758\ubbf8\uc774\ub2e4. \ucf54\ucf54\ubcf8\ub4dc\ub294 \uc870\uac74\ubd80\uc790\ubcf8\uc99d\uad8c(COntingent\nCOnvertible Bond; CoCo Bond)\uc758 \uc57d\uc790\ub85c\uc11c, \ucc44\uad8c\uc73c\ub85c \ubc1c\ud589\ub418\uc9c0\ub9cc \ud2b9\uc815\uc694\uac74\uc774\n\ub418\uba74 \ubd80\ucc44(Liability)\uc5d0\uc11c \uc790\ubcf8(Equity)\uc73c\ub85c\n\uc804\ud658\ub418\ub294 \uc720\uac00\uc99d\uad8c\uc744 \ub73b\ud55c\ub2e4. \uc5c4\ubc00\ud788 \ub9d0\ud558\uba74 \uc870\uac74\ubd80\uc790\ubcf8\uc99d\uad8c\uc740 \uc2e0\uc885\uc790\ubcf8\uc99d\uad8c\uacfc \ud6c4\uc21c\uc704\ucc44\ub97c \ubaa8\ub450 \ud3ec\ud568\ud558\ub294 \uac1c\ub150\uc774\ub2e4. \ud6c4\uc21c\uc704\ucc44\ub294 \uc2e0\uc885\uc790\ubcf8\uc99d\uad8c\ubcf4\ub2e4 \uc0c1\ud658\uc21c\uc11c\uac00 \uc55e\uc5d0 \uc788\uc5b4, \uae30\uc5c5\uc774 \uccad\uc0b0\ud558\uac70\ub098\n\ubd80\ucc44\ub97c \uc0c1\ud658\ud560 \ub54c \uc2e0\uc885\uc790\ubcf8\uc99d\uad8c\uc5d0 \ub300\ud558\uc5ec \uc6b0\uc120\uad8c\uc744 \uac00\uc9c4\ub2e4. \uadf8\ub807\uae30 \ub54c\ubb38\uc5d0 \ub35c \uc704\ud5d8\ud558\uc5ec \ud6c4\uc21c\uc704\ucc44\uc758 \ubc1c\ud589\uae08\ub9ac\ub294\n\uc2e0\uc885\uc790\ubcf8\uc99d\uad8c\ubcf4\ub2e4 \ub0ae\uac8c \ud615\uc131\ub41c\ub2e4.<\/p>\n\n\n\n \n

\uac04\ub2e8\ud558\uac8c \uc694\uc57d\ud558\uc790\uba74, \uc2e0\uc885\uc790\ubcf8\uc99d\uad8c\uc740 \ucc44\uad8c\ucc98\ub7fc \ubc1c\ud589\uc0ac\uac00 \uc774\uc790\ub97c \uaf2c\ubc15\uaf2c\ubc15 \uc9c0\uae09\ud558\uc9c0\ub9cc, \ucc44\ubb34\uac00 \uc544\ub2cc \uc790\ubcf8\uc73c\ub85c \uac04\uc8fc\ub418\uae30 \ub54c\ubb38\uc5d0 \ubc1c\ud589\uc0ac\uc758 \uc7ac\ubb34\uc0c1\ud0dc\uac00 \uc544\uc8fc \uac74\uc804\ud574\uc9c0\ub294 \ud6a8\uacfc\uac00 \uc788\ub2e4. \ub610\ud55c \ub9cc\uae30\uac00 \uae38\uae30 \ub54c\ubb38\uc5d0 \uc0c1\ud658\uc5d0 \ub300\ud55c \ubd80\ub2f4\uc774 \uc801\uace0 \uc548\uc815\uc801\uc73c\ub85c \uc790\uae08\uc744 \uc6b4\uc6a9\ud560 \uc218 \uc788\ub2e4. \uadf8\ub807\uae30 \ub54c\ubb38\uc5d0 \uc77c\ubc18\uc801\uc73c\ub85c \uc2e0\uc885\uc790\ubcf8\uc99d\uad8c\uc740 \uae08\uc735\uc0ac\ub098 \uc740\ud589\uc758 \uc790\ubcf8\ud655\ucda9\uc744 \uc704\ud55c \ubaa9\uc801\uc73c\ub85c \ubc1c\ud589\ub418\uc5b4 \uc654\ub2e4. 2003\ub144 5\uc6d4 \uc678\ud658\uc740\ud589\uc774 \uad6d\ub0b4\uc5d0\uc11c \ucc98\uc74c \uc2e0\uc885\uc790\ubcf8\uc99d\uad8c\uc744 \ubc1c\ud589\ud55c \uc774\ub798 \ub9ce\uc740 \uc740\ud589\ub4e4\uc774 \uc790\uae30\uc790\ubcf8 \ube44\uc728 \uc81c\uace0(BIS\ube44\uc728\uc774\ub77c\uace0\ub3c4 \ud55c\ub2e4)\uc640 \uac74\uc804\uc131 \uc81c\uace0\ub97c \uc704\ud574 \ubc1c\ud589\ud558\uace0 \uc788\ub2e4. \uc2e0\uc885\uc790\ubcf8\uc99d\uad8c \ud22c\uc790\uc790\ub294 \ucc44\uad8c\ubcf4\ub2e4 \uc57d\uac04 \ub354 \uc704\ud5d8\ud558\uc9c0\ub9cc \uadf8\uc5d0 \ub300\ud55c \ub313\uac00\ub85c \ub354 \ub192\uc740 \uae08\ub9ac\uc758 \uc774\uc790<\/strong>\ub97c \ubc1b\ub294\ub2e4. \ubd80\ucc44\uac00 \uc544\ub2cc \uc790\ubcf8\uc744 \ud1b5\ud574 \uc790\uae08\uc870\ub2ec\uc744 \ud558\ub294 \ud6a8\uacfc\uac00 \uc788\uae30 \ub54c\ubb38\uc774\ub2e4. \ub610\ud55c \ucc44\ubb34 \ubcc0\uc81c\uc2dc \uc8fc\uc2dd\ubcf4\ub2e4 \uc6b0\uc120\uc21c\uc704\uc5d0 \uc788\uc5b4 \ub354 \uc720\ub9ac<\/strong>\ud558\ub2e4. <\/p>\n \n\n\n\n

\"\"
\uc2e0\uc885\uc790\ubcf8\uc99d\uad8c\uc740 \ub192\uc740 \uae08\ub9ac\ub77c\ub294 \uc7a5\uc810\uacfc \ub3c8\uc774 \ubb36\uc77c \uc218 \uc788\ub2e4\ub294 \ub2e8\uc810\uc774 \uacf5\uc874\ud55c\ub2e4.<\/figcaption><\/figure><\/div>\n\n\n\n

\uc0c1\ub300\uc801\uc73c\ub85c \uc548\uc815\uc801\uc778 \ub192\uc740 \uae08\ub9ac\ub77c\ub294 \uc7a5\uc810\ub3c4 \uc788\uc9c0\ub9cc, \ub2e8\uc810\ub3c4 \uc874\uc7ac\ud55c\ub2e4. \uccab\uc9f8\ub294 \uc0c1\ub2f9\ud788<\/strong> \uc624\ub79c \uae30\uac04 \ub3c8\uc774 \ubb36\uc77c \uc218 \uc788\ub2e4<\/strong>\ub294 \uac83\uc774\ub2e4. \uc2e0\uc885\uc790\ubcf8\uc99d\uad8c\uc758 \ub9cc\uae30\ub294 30\ub144 \ub610\ub294 \uc601\uad6c\uc801\uc774\uc9c0\ub9cc, \ub300\ubd80\ubd84\uc740 5\ub144 \ub4a4 \uc870\uae30\uc0c1\ud658\uc635\uc158\uc774 \ubd99\uc5b4\uc11c \ub098\uc624\ub294 \uacbd\uc6b0\uac00 \ub9ce\ub2e4. \ubb38\uc81c\ub294, \uc774 \uc870\uae30\uc0c1\ud658\uc635\uc158<\/strong>\uc774 \ubc1c\ub3d9\ub418\uae30 \uc804\uc5d0 \ub3c8\uc774 \ud544\uc694\ud55c \uacbd\uc6b0\uac00 \uc0dd\uae30\uba74 \uace4\ub780\ud574\uc9c8 \uc218 \uc788\ub2e4\ub294 \uac83\uc774\ub2e4. \ubb3c\ub860\n\uc7a5\ub0b4\uc5d0\uc11c \uac70\ub798\uac00 \uac00\ub2a5\ud558\uae30 \ub54c\ubb38\uc5d0 \ud314\uc544\uc11c \ub3c8\uc744 \ub9c8\ub828\ud560 \uc218 \uc788\uc9c0\ub9cc, \uac70\ub798\ub7c9\uc774 \ub9ce\uc9c0 \uc54a\uc544\uc11c \ud658\uae08\ud558\ub294 \ub370 \uaf64\n\uc2dc\uac04\uc774 \uc18c\uc694\ub420 \uc218 \uc788\ub2e4.<\/p>\n\n\n\n \n

\ub458\uc9f8\ub294 \uc0c1\ud658 \ub9ac\uc2a4\ud06c\uc640 \uc774\uc790\uc9c0\uae09 \ubcf4\uc7a5 \ub9ac\uc2a4\ud06c\ub2e4. \uad6d\ub0b4\uc5d0\uc11c \ubc1c\ud589\ud558\ub294 \uc2e0\uc885\uc790\ubcf8\uc99d\uad8c\uc758 \ub300\ubd80\ubd84\uc740 \uac74\uc2e4\ud55c \ub300\ud615\uc740\ud589\uc5d0\uc11c \ubc1c\uae09\ud558\ub294 \uac83\uc774 \ub9ce\uc544 \ud604\uc2e4\uc801\uc73c\ub85c\ub294 \ud06c\uac8c \ud574\ub2f9\ub418\uc9c0\n\uc54a\uc9c0\ub9cc, \uc774\ub860\uc801\uc73c\ub85c\ub294 \ud56d\uc0c1 \ud30c\uc0b0 \ubc0f \ucc44\ubb34\uc774\ud589 \ubd88\ub2a5\uc758 \ub9ac\uc2a4\ud06c\ub97c \uac00\uc9c0\uace0 \uc788\uae30 \ub54c\ubb38\uc774\ub2e4. \ubc1c\ud589\uc0ac(\uc8fc\ub85c \uc740\ud589)\uac00\n\ud30c\uc0b0\ud558\uac8c \ub418\uba74 \uc77c\ubc18 \ucc44\uad8c\ubcf4\ub2e4 \ud6c4\uc21c\uc704\ub85c \ubc00\ub9ac\uae30 \ub54c\ubb38\uc5d0 \uc6d0\uae08\ud68c\uc218 \uc0c1\ud658\uc774 \ubd88\uac00\ub2a5\ud560 \uc218\ub3c4 \uc788\ub294 \ub9ac\uc2a4\ud06c\uac00 \uc788\ub2e4. \uc2e0\uc885\uc790\ubcf8\uc99d\uad8c\uc740\n\ub2f9\uae30\uc190\uc2e4 \ub610\ub294 \uc790\uae30\uc790\ubcf8\uc728\uc774 \uc77c\uc815 \ube44\uc728 \uc774\ud558\ub85c \ub5a8\uc5b4\uc9c8 \uacbd\uc6b0 \uc774\uc790 \uc9c0\uae09\uc744 \ud558\uc9c0 \uc54a\uc544\ub3c4 \ub418\ub294 \ubc95\uc801 \uaddc\uc815\uc774 \uc788\uae30 \ub54c\ubb38\uc5d0 \uc774\uc790\uc9c0\uae09\uc744 \ubc1b\uc9c0 \ubabb\ud560 \uc218\ub3c4 \uc788\ub294\n\ub9ac\uc2a4\ud06c\uac00 \uc788\ub2e4.<\/p>\n\n\n\n \n

\ub610\ud55c, \uae08\ub9ac\uc758 \uc0c1\uc2b9\uc774\n\uc608\uc0c1\ub420 \uacbd\uc6b0 \ubc1c\ud589\uc0ac\uc640 \ud22c\uc790\uc790 \ubaa8\ub450 \uc190\ud574\ub97c \uc785\uc744 \uac00\ub2a5\uc131\uc774 \uc788\ub2e4. \ud22c\uc790\uc790 \uc785\uc7a5\uc5d0\uc11c\ub294 \uc774\ubbf8 \ud22c\uc790\ub97c \ud588\ub294\ub370\n\uae30\uc900\uae08\ub9ac\ub098 \ud0c0 \uae08\uc735\uc0c1\ud488 \uae08\ub9ac\uac00 \ub192\uc544\uc9c8 \uacbd\uc6b0 \uae30\ud68c\ube44\uc6a9\uc774 \ubc1c\uc0dd\ud558\uac8c \ub41c\ub2e4. \ubc1c\ud589\uc0ac \uc785\uc7a5\uc5d0\uc11c\ub294 \ud22c\uc790\uc790\ub4e4\uc774 \uc608\uae08\n\ub4f1\uc5d0 \ub3c8\uc744 \ub123\uae30 \ub54c\ubb38\uc5d0 \uc2e0\uc885\uc790\ubcf8\uc99d\uad8c\uc73c\ub85c \uc870\ub2ec\ud560 \uc218 \uc788\ub294 \uc790\uae08\uc774 \uc904\uc5b4\ub4e4\uace0, \uc880 \ub354 \ube44\uc6a9\uc774 \ub4e4\uace0 \ubcf5\uc7a1\ud55c\n\ubc29\ubc95\uc73c\ub85c \uc790\uae08 \uc870\ub2ec\uc744 \ud558\uac8c \ub41c\ub2e4.<\/p>\n\n\n\n \n

\uc77c\ubc18\uc801\uc73c\ub85c \uacc4\uc18d\ub41c \uae08\ub9ac\uc778\uc0c1\uc774 \uc608\uc0c1\ub418\ub294 \uc2dc\uae30\uc5d0\ub294 \uc2e0\uc885\uc790\ubcf8\uc99d\uad8c\uc774 \ud765\ud589\uc5d0 \uc2e4\ud328\ud558\ub294 \uacbd\uc6b0\uac00 \ub9ce\ub2e4. \uc6b0\ub7c9\ud55c \ud68c\uc0ac\uc758 \uc2e0\uc885\uc790\ubcf8\uc99d\uad8c\ub3c4 \ubaa9\ud45c\ud55c \uae08\uc561\uc744 \ucc44\uc6b0\uc9c0 \ubabb\ud558\ub294 \uacbd\uc6b0\uac00 \ubc1c\uc0dd\ud558\uace4 \ud55c\ub2e4. \uadf8\ub7ec\ub098 \uc2dc\uc7a5\uc774 \uae08\ub9ac \uc778\ud558\uc758 \uae30\uc870\ub85c \uc804\ud658<\/strong>\ub418\uac70\ub098, \uc800\uae08\ub9ac\uac00 \uc77c\ubc18\uc801\uc778 \uc2dc\uae30<\/strong>\uc5d0\ub294 \ube44\uad50\uc801 \uae34 \uae30\uac04 \uc0c1\ub300\uc801\uc73c\ub85c \ub192\uc740 \uae08\ub9ac\ub97c \uc8fc\uae30 \ub54c\ubb38\uc5d0 \uc2e0\uc885\uc790\ubcf8\uc99d\uad8c \ud22c\uc790\ub97c \ub9e4\ub825\uc801\uc778 \ud22c\uc790\ucc98 \uc911 \ud558\ub098\ub85c \uace0\ub824\ud574\ubcfc \uc218 \uc788\ub2e4.<\/p>\n \n\n\n\n

\n\n (\ud2b8\ub7ec\uc2a4\ud1a4\uc790\uc0b0\uc6b4\uc6a9 \uace0\uc7ac\ub7c9 \uc5f0\uad6c\uc6d0) \n\n<\/p>\n","protected":false},"excerpt":{"rendered":"

  \uae08\ub9ac\uc758 \ubcc0\ub3d9\uc131\uc774 \uc2ec\ud574\uc9c0\uace0, \uc8fc\uac00\uc9c0\uc218\uac00 \ud558\ub77d\uc138\ub97c \ubcf4\uc784\uc5d0 \ub530\ub77c \ucc44\uad8c \ub4f1 \uc8fc\uc2dd\uc774 \uc544\ub2cc \ub2e4\ub978 \uc0c1\ud488\ub4e4\uc5d0 \ub300\ud55c ···<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":true,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[6,5,4,8,13],"tags":[163,162,154,78],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p8gpnE-1o4","_links":{"self":[{"href":"https:\/\/forum.trustonasset.com\/index.php?rest_route=\/wp\/v2\/posts\/5336"}],"collection":[{"href":"https:\/\/forum.trustonasset.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forum.trustonasset.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forum.trustonasset.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/forum.trustonasset.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5336"}],"version-history":[{"count":2,"href":"https:\/\/forum.trustonasset.com\/index.php?rest_route=\/wp\/v2\/posts\/5336\/revisions"}],"predecessor-version":[{"id":5338,"href":"https:\/\/forum.trustonasset.com\/index.php?rest_route=\/wp\/v2\/posts\/5336\/revisions\/5338"}],"wp:attachment":[{"href":"https:\/\/forum.trustonasset.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5336"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forum.trustonasset.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5336"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forum.trustonasset.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5336"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}