For example, your income is Japanese yen, but you have a dollar loan to repay, and you have not done any hedging transactions (such as forward foreign exchange transactions or foreign exchange swaps), so you have the exchange rate risk exposure of Japanese yen against the US dollar. Or you bought a company's bonds, because corporate bonds have credit risk, and you didn't do any hedging transactions (such as credit swap), so you have credit risk exposure. If you buy a bond with a fixed interest rate and there is no hedging (such as interest rate swap), you have to bear interest rate risk, so you have interest rate risk exposure. etc

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"Exposure" is a common term in finance, especially in the international market (should this be called a term? ), don't know the specific explanation. When you actually use it, you will know that it has two meanings: 1, which is equivalent to the available part of English; 2, equivalent to English exposure, risk exposure;

"Position" is even simpler, generally referring to "available cash" and sometimes referring to "available currency" as the case may be. For example, the bank approved a credit line for you, but there was a problem when withdrawing money, probably because the position was insufficient (although there were indicators, the money was not enough).

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1, position (also known as "head lining") means money, which is a popular term in financial and business circles. If the bank's income exceeds its expenditure in all the receipts and payments of the day, it is called "multi-position"; If the payment exceeds its income, it is called a "short position". The behavior of predicting the number and number of such positions is called "position rolling". The act of trying to transfer funds everywhere is called "changing positions" If the temporarily unused funds are greater than the required amount, it is called "loose position", and if the required funds are greater than the idle amount, it is called "tight position".

2. Holding positions is a common word in the financial industry, which is often used in finance, securities, stocks and futures trading.

For example, when futures trading opens, the positions held after buying futures contracts are called long positions, referred to as long positions; The positions held after selling futures contracts are called short positions, referred to as short positions. The difference between open long contracts and open short contracts is called net position. This only exists in futures trading, but not in spot trading.

In foreign exchange transactions, "opening a position" means opening a position. Opening a position, also known as exposure, is the act of buying one currency and selling another. After the opening, one currency is long (long) and the other currency is short (short). Choosing the right exchange rate level and the timing of opening positions are the premise of profit. If the timing of entering the market is good, the chances of profit will be great; On the other hand, if the timing of entering the market is improper, it is prone to losses. Net position refers to the trading difference between one currency and another after the opening.

In addition, there are statements from the financial industry, such as tying positions and borrowing positions.

There are many kinds of holding dates: the first holding date (the first day of futures delivery process) and so on, most of which refer to the day when money is used.

3. Location has two meanings: 1. [Money Market]: China used to refer to banks and the money owned by banks. Overpayment means multiple positions, and underpayment means multiple positions. Clearing the difference between payment and receipt is to roll (ga) positions, and borrowing to make up the difference is to open positions. 2. [Cash]: refers to the amount of money circulating in the market, that is, the money supply. For example, Qian Song is a loose position, and money is tight, which usually refers to the second type, that is, the amount of cash.

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The so-called foreign exchange risk exposure position refers to the foreign exchange transactions conducted by banks every day. If there is a difference between a loan and a deposit, it is called a risk position. The international market implements a floating exchange rate system, that is, the exchange rate changes every minute. China implements a relatively fixed exchange rate system, so if there is a difference between deposits and loans every day, once the international market exchange rate changes, such risk information will be borne by the banks themselves, so banks should "hedge" every day to avoid identifying foreign exchange risk exposure positions as the difference between identifiable assets and liabilities. When determining the fair value of the identifiable assets purchased and the debts undertaken, the purchasing enterprise may adopt the methods of market price, book value, replacement cost, present value, estimated selling price, appraised price and net realizable value. When determining the method adopted, it is necessary to consider the expected use of the purchased assets and the debts assumed after the merger. In general, the fair value of the purchased identifiable assets and liabilities shall be determined according to the following methods:

(1) Securities shall be determined according to their market prices.

(2) Accounts receivable are determined according to the book value after deducting the estimated bad debts; Or according to the amount that may be recovered in the future, the present value discounted at the actual interest rate is deducted from the estimated bad debts.

(3) Finished products and inventories shall be determined according to their estimated selling prices minus sales expenses and cleaning expenses, and with reference to the reasonable profits of similar finished products and inventories.

(4) According to the estimated selling price of finished products, the cost, sales expenses and cleaning expenses that still need to occur after completion are deducted, and determined by referring to the reasonable profits of similar finished products.

(5) Raw materials are determined according to replacement cost.

(6) Long-term investment is determined according to the evaluation price.

(7) Fixed assets should generally be determined according to the replacement cost; When held for sale, it is determined according to the net realizable value; When it is held for temporary use, it shall be determined according to the lower of replacement cost and net realizable value.

(8) Intangible assets are determined according to the appraisal price.

(9) Liabilities should generally be determined according to book value.