(Thanks to Brother Tan Mo Lanxin, Brother 37033 for the tip.) Pen × fun × Pavilion www. ｂｉｑｕｇｅ。 There are too many materials to collect for info hegemony essays.,I'm not prepared enough.,I'm still inclined to write a World War II essay first.,But I'll even think about it.,After all, the hegemony essay can be directly connected to this book to write.。 ）

Paris leaned on Zhou You with some displeasure, grabbed his arm and nibbled on it. "You don't care about me at all......"

"Crewe ......," Zhou You said with a sudden realization, "I know, where Bentley's headquarters are." ”

Paris nodded and said, "I worked with Bentley to develop a Paris-branded GT car...... I don't care, you have to drive a Bentley GT when you go out in the future. ”

"Good...... Well, ......, whenever I'm not on business, I drive a Bentley GT, and it's my favorite car. ”

When he didn't offend his bottom line, Zhou You was also willing to spoil his woman, and Paris was also quite satisfied with Zhou You's answer, so she plumped her lips and gave Zhou You a hot kiss.

Although this chick is a bit stupid most of the time, she is actually quite smart in the relationship between men and women. She is very aware of her strengths and weaknesses, and always likes to use some small means to adjust the relationship between two people, and she will not let her travel get bored.

After lunch, Paris took her design team and assistant team and took a bus to Crewe. The tour also welcomed its first guest, Stephen, the president of the Royal Bank of Scotland.

In 2007, the Royal Bank of Scotland was the third largest bank in the UK and ranked seventh in the world in terms of assets under management, well above the familiar Bank of America and JPMorgan Chase.

In Europe, they are second only to Barclays and HSBC, the UK's largest banks, but such a bank, seven years ago, was a regional bank with nothing but history.

In 2000, they acquired Westminster Bank, three times their size, and made the leap from a regional bank to an international banking group.

Just last month, the Royal Bank of Scotland and Santander, as well as Fortis Bank, formed a consortium to buy ABN AMRO for a whopping $10 billion dollar.

But the heroes of the subprime mortgage crisis have intensified, and this acquisition has not only not brought the three banks the development channels they deserve, but has put a heavy burden on them.

Santander is a little better, they have a lot of money in their hands, and they are less affected by the subprime mortgage crisis, so they can still endure the pain. But the Royal Bank of Scotland was already struggling to do so, dragged down by the ABN AMRO subprime bonds, and is now in a serious cash shortage.

Zhou Yu did not know much about the future fate of the Royal Bank of Scotland, and he had few opportunities to deal with the bank, but he also knew that the bank was later controlled by the British government.

Zhou You doesn't remember when they were controlled by the British government, but thinking about the future, the banking industry in Europe and the United States will not change much, and if they are controlled, it should be in this subprime mortgage crisis.

Although he didn't know Stephen's specific intentions, his prominent status also made it impossible for Zhou You to directly request a meeting. Anyway, in Zhou You, the purpose of their visit should be to solve the financial problem.

Indeed, Zhou You is now the most popular figure in the eyes of all financiers around the world, mainly because he now has a large amount of cash in his hands, and even more money than most banks have.

Any bank has a limit to the amount of liquidity it can have. In the West, according to normal rules, the reserves of commercial banks are generally maintained at about 12 percent.

The so-called reserves, that is, the cash assets of the bank. This part of the capital is a non-profit asset, and from a business point of view, banks generally try to reduce it to the minimum standard prescribed by law. Because there is no interest income on cash assets, banks always keep as little cash as possible as long as they do not create barriers to transactions.

Excess cash reserves have a high opportunity cost, which increases as the level of investment interest rates rises. However, there is a great risk that banks have too little cash reserves. If the bank does not have enough cash on hand to meet the depositor's withdrawal needs, the depositor's trust in the bank will be lost.

Therefore, foreign banking regulations generally stipulate that banks must reserve about 12% of their reserves. The rest of the funds are generally used by banks for lending and investment.

In the case of the Royal Bank of Scotland, for example, the size of their funds under management is about $1.7 trillion, so the size of the reserves will remain at about $200 billion.

Such a large sum of money, under normal circumstances, is completely enough for circulation. But as a result of the subprime mortgage crisis, countless Western banks had to come up with some money to make up for their losses in the U.S. subprime mortgage market.

Banks must guarantee a minimum reserve of 6 percent to facilitate depositors to withdraw money and spend, and even the Royal Bank of Scotland has no more than $100 billion in cash at its disposal.

However, they have just spent tens of billions of dollars to acquire the Dutch Bank, and they have spent tens of billions of dollars to increase the reserves of the subprime mortgage market, and they have to come up with a large amount of money to make up for the losses of depositors in the investment market, so the funds they can use in their hands are estimated to be only two or three billion dollars.

If their losses were a little bigger in other areas, then probably not so much.

Stephen is a rare thin old man, his body type is an alternative in Britain and the United States, which are mainly obese, and he is a little scary. A banker's unique rigor and steadyness, with a somewhat rickety body, looks a little gloomy.

"Mr. Zhou, good afternoon."

"Good afternoon, Mr. Stephen. Compared to the previous meeting, your complexion is much worse. ”

Zhou You first met him at a reception for their successful takeover of ABN AMRO, and everyone seemed to be in high spirits at the time, thinking that the subprime mortgage crisis would not continue to spread, but the fact gave everyone a heavy slap in the face.

"Like most bankers, I was in a difficult situation and desperate to get out of the quagmire. But the truth is, we're all getting deeper and deeper. So, I need your help Mr. Zhou......"

Although he guessed his intention, Zhou You didn't expect him to say it directly, which was completely inconsistent with the social etiquette of an English gentleman. In the UK, no matter what time it is, we will talk together for a while before we get to the point. But it can also be seen from his behavior that the pressure he is facing is too great.

Zhou You was flustered for a while, and then leaned over and led him to sit on the sofa, and several of his subordinates also took their seats one by one, surrounding Zhou You. Wendy, the deputy head of the secretary, asked the two little secretaries to turn on the camera and start shooting, and then they did it to the side and open the record book.

Since the other party was straight to the point, Zhou You was no longer secretive, and asked: "As far as I know, the current situation of the Royal Bank of Scotland is not particularly difficult, why does Mr. Stephen act as if he has reached the end of the world?" ”

Stephen didn't answer directly, but took his purse from the assistant, took out a document and handed it to Zhou You. In August 2005, the Bank of China completed the selection of strategic investors, and the Royal Bank of Scotland was fortunate to invest a total of US$5.175 billion, representing 13.9% of the total share capital of the Bank of China, together with Temasek Holdings, UBS and the Asian Development Bank. Here is the original share book of 10.809 billion H shares of Bank of China, accounting for about 4.26% of the total share capital of Bank of China. ”

Zhou You didn't stretch out his hand, but leaned back on the sofa and asked, "What price do I need to pay to get these from your hands?" How can you convince BOC to let me take over these shares, you know, I now have 5% of BOC's shares, and with that, my personal shareholding is almost 10%. ”

Although he wanted these shares very much, he knew very well that if he wanted to eat these shares, he would also have to pay a lot of money. The market value of the Bank of China has just exceeded $50 billion this year, and due to the impact of the subprime mortgage crisis, it has now returned to a market value of more than $40 billion, and this less than 5 percent of the shares is more than $2 billion in the sky.

However, knowing that the stock price of the Bank of China will definitely appreciate in the future, it is almost impossible to want these stocks at the current market price. Moreover, such a large-scale share transfer also requires the approval of the board of directors of the Bank of China and the permission of the securities regulatory authorities of the two countries for the transaction to be successful.

"None of this is a problem, the key is ......," Stephen smiled, and then added: "The key is the conditions of our cooperation." ”

In the future, the market value of the Bank of China will be nearly 150 billion US dollars, and the management capital will rank seventh in the world. It can be said that this nearly 5% of the shares will appreciate at least three times in the future, so the impact will be greatly increased.

However, Zhou You now has 5 percent of the shares, and 5 percent of the shares in six banks, which is big enough, and no matter how good the shares of the Bank of China are, it is only the icing on the cake. If the price to pay for these shares is too great, it is clearly not worth it.

Zhou You asked quietly: "Then I would like to know, what price do I need to pay for these shares?" ”

Stephen laughed and said, "We don't need Mr. Zhou to offer a premium for these stocks, however, we need a cash transaction." In addition, the Royal Bank of Scotland is preparing to raise £12 billion next month by issuing 11 additional shares for every 18 shares, or $23.7 billion per share, in the hope of obtaining at least 30% of Mr. Zhou's shares. However, our bank will set a two-year redemption right for this part of the shares, but Mr. Zhou can rest assured that even if the stock price is lower than now, we will redeem it at a standard of not lower than the current price, and if it is higher than the current stock price, we will settle Mr. Zhou according to the average stock price in four weeks. ”

This is a kind of borrowing in disguise, with a minimum of 30 percent, that is, about $7 billion. This money is nothing for Zhou You, and it is a good investment if you can get a stake in the Royal Bank of Scotland as a result.

However, the two-year redemption option makes the plan a little tricky, because the loan has no interest and will only be calculated according to the market price of the stock price. They may be more optimistic that they will be able to get out of the trough in two years, but Zhou You knows very well that according to this time period, the stock price will not rise too high when redeemed in August 2009.

Zhou You shook his head and said, "For more than two billion worth of stocks, I need to take out an additional seven billion dollars for your bank's turnover, which is not a good deal, unless your bank is ready to allocate me a certain share of voting shares." And, personally, I don't think a two-year redemption period is appropriate......"

Stephen's face showed a hint of joy and asked, "So is Mr. Zhou willing to negotiate with our bank on this plan?" ”

If it is before returning to China, Zhou You will definitely consider it carefully, because although he has a lot of funds on hand, most of them are used in foreign exchange swaps, and there are not many funds available. But now, with $20 billion in funds from the mainland, he has much more money on hand.

What's more, he can also pledge these shares to some Asian banks that have not been affected by the subprime mortgage crisis, and can exchange some funds for use. "Why not?"

Now that it has been decided that there will be negotiations on this, neither side will continue to talk in depth, because they only need to establish a framework for cooperation, and the specific terms will be negotiated by the negotiation team below.

Zhou You sent Stephen and his party to the door of the small living room, and asked Wendy to send him out. He turned around and sat down on the couch and filtered the whole thing in his mind, not noticing that there was anything obvious wrong. Then he instructed the secretary next to him, "Let the Angolan guests come in." ”

Stephen's car went out of the gate of the Wanderer's house, and he pulled out his phone and made a call. "A perfect start."

On the other end of the line was a grim voice that asked, "Didn't Evan Zhou make any troubles?" ”

Stephen let out a long sigh and said, "It went unexpectedly well, and even made me a little suspicious. He didn't ask why Perfect was short of funds, he didn't ask us how much we lost in the subprime mortgage crisis, or even the slightest hint of taking advantage of the fire, but just treating it as a simple business. Although he was only 27 years old, I couldn't see through his heart at all, and nothing seemed to move him. ”

The other end of the phone was quiet for a while, and then he said: "Anyway, the Americans just want to use the bait we set up to consume the cash in Evan Zhou's hands, and we don't need to think too much about this matter, just follow normal business cooperation." ”

"I understand. Attracting a strong person like Evan Zhou, who is a shareholder of six big banks, is actually a big benefit to our bank. It doesn't take too many shares, and there are some callable options, so it is also an opportunity for us to be able to attract such a strong partner. ”

Inside the room, Zhou You stood up and walked towards seven or eight smiling black politicians with a smile on his face. "Minister Wachib, welcome to London."