When Leo came to the office again, he was stunned to find that the whole picture had changed: the speculative scene did not appear at all, but the three of them discussed the company's next policy together, looking like old friends who had been reunited for a long time.

What made him even more messy was that Vivian's father, Francisco the president of the Naples-based Banco du Sud, had turned into the president of the soon-to-be-listed Union Bank – his own out-and-out subordinate, and had heard that the group was planning to borrow 200 million lira from the Banco du Sud at an interest rate of 8%.

What shocked him the most was that Contini inadvertently mentioned it: let him go with Francisco in two days to go through the procedures for changing the shareholding, take $6 million from the other party, and then change 10% of the group's shares to be registered in the name of Vivian.

He quickly figured out that the loan from the Southern Bank was to pay for the transfer fee for poaching Francisco, but what did it mean to give Vivian this 10% stake? $6 million is impossible to exchange for 10% of the shares, 5% can't be exchanged, and even if Contini wants to compensate the other party because he can't marry Vivian, he won't have to pay so much - sleeping is not too much of a problem in Italy.

Contini smiled awkwardly: Everyone else can hide this matter, but a classmate like Leo who knows the bottom can't hide it, if you hide it now, there will be endless troubles in the future - the other party will think that you don't care about him. He drank water in disguise as he gestured to Leo and pointed to his stomach.

"Oh......" Leo finally understood now, His Excellency the President of Feelings not only really misfired, but also made people's stomachs bigger, and then think about it carefully, Contini has only been back for a few days, if it is impossible to find out what happened in the past few days, it means that it was also what happened before Contini went to the United States at the earliest, reminiscent of Vivian's sudden statement on the radio two days ago: saying that he is facing graduation and needs to write his graduation thesis quietly, and will stop broadcasting after the New Year until he will come back in September next year. The news is said to have caused some fans to regret, but after thinking about it together, Leo finally figured it all out.

He nodded sarcastically, gave Contini a thumbs up, and praised Mr. President for "well done!" The other party grinned toothlessly, embarrassed like he had never been......

However, Leo is sarcastic and sarcastic, and he still admires Contini's responsible behavior in his heart, although Vivian's family background is not good, but if Mr. President eats and wipes clean and nothing has happened, the other party can't do anything with him, even if he thinks about Vivian's reputation, he doesn't dare to make a big fuss. Come to think of it, the president and Vivian are probably true love, but they can't get married and give fame - if they can't give fame, they can only give money! And this kind of secret thing is not hidden from himself, which shows that he really treats himself as his own person.

Leo was still anxious when he went out: Vivian is a junior sister one level lower than himself, Contini is a junior two levels lower than himself, as a senior, it is not good for him to favor either one, but to find a reasonable solution, he can't find a way when his brain hurts, now it seems that he is completely worried about himself, is the solution to the problem very fast Mr. President? not only settled it all at once, but also dug up the old man who couldn't pass through the door, which is really a typical domineering president style.

Soon a strange smile appeared on the corner of his mouth, and he suddenly thought that Adriana would soon know about Vivian, this one was dealt with, and this one probably had to be concocted in the same way - His Excellency the President's true love is a bit much!

While he was still thinking about this little bit of his daughter, Mr. Francisco, the president of the United Bank, had stepped into the role and said eloquently: "I think that it is not enough for the current four subsidiaries of United Finance, and it is necessary to set up a microfinance company to undertake part of the business of Union Bank." For example, United Motorcycle is very popular, many young people like it, but they may not be able to pay all of a sudden, we can use the consumer credit company to provide installment payment, I believe that the United Group will not only have a product of motorcycle in the future, but also automobiles, household appliances, etc. For example, the issuance of joint scholarships and student loans for students in secondary and higher education institutions that you just mentioned can also be carried out through microfinance companies; Even I think that the housing mortgage loans of the employees within the United Group can also go through this channel, and the United Bank is only responsible for handling the housing credit ...... external customers"

Antonio nodded with satisfaction, the president of the Union Bank is not a simple position, you must have the ability and connections, and at the same time have a high degree of loyalty, such a candidate is not easy to find, he originally considered to think about it, probably only his son is barely available, but the son is currently assisting the old Chiano, and secondly, he was only the president of the Livorna branch of the Bank of Siena, although the Bank of Siena is larger than the Bank of the South, but after all, Francisco is the president of the head office, and his son is only the branch president, vision and ability, connections, wrists are still worse, not to mention anything else, this qualification is a big problem.

But Contini used the method of transferring Vivian's shares to tie up this "de facto father-in-law" at once, Francisco only has Vivian's daughter after all!

"By the way, is the interest rate on deposits in Italy generally only 3.5% at present?"

"Small banks can give this level, many large banks only 3.1-3.25%, and Southern Bank gives 3.2%."

"I want to raise the interest rate on deposits in Union Bank to more than 4% and increase deposit absorption." "What do you think?" Contini asked. ”

Francisco frowned: "Do you want to raise more funds for the group through this?" ”

"Yes, there is still a lot of work to be done in the United Group, I need a lot of money, a lot of money that will not fluctuate due to short-term market fluctuations." Contini smiled, "The United Group will never go public, so I need a reliable financing platform." ”

"There are two risks to this: first, the hatred of the banking community, the lending rate is unlikely to continue to rise at present, and the rising cost of the debt side will squeeze their space; Second, the impact on the financial system - the rise in the central risk-free interest rate will bring a series of market effects, which is equivalent to a disguised interest rate hike, bonds and credit will cause significant turmoil, and I am not sure whether the central bank will intervene. ”

"Don't ignore the first risk, hate it, they squeeze me to buy them, as for the second ......," Contini smiled, "This is market behavior, the Ministry of Finance and the central bank will not take care of it, I have people above them who take care of them." ”

Francisco froze for a moment, and he now figured out why Contini couldn't marry Vivian - otherwise there would be someone on it, and the sign wouldn't have sounded.

Leo interjected: "But Calais, this can't be done, even if you can raise a large amount of money through the Union Bank, according to the Commercial Banking Law, in order to avoid risks, the credit to the same customer cannot exceed 10% of the total credit of the bank, even if it is broken through under special circumstances, it is impossible to break through much." ”

Francisco smiled and shook his head: "There are loopholes in this rule, and it's easy to break it." ”

"How to break through?"

"First, the United Bank can buy the preferred shares of the United Group and unconditionally discount the bonds of the United Group Group, which can free up at least 8-1 billion lira of space; second, Union Bank can provide pre-sale credit to United Group suppliers; Third, Union Bank can provide virtual demutualized credit to employees of United Group; Fourth, the Union Bank can entrust the United Group through foreign banks......" Francisco suddenly reported a lot of nouns, and said with a smile, "As long as there are people above, these edge balls are not a problem." ”

Preferred shares, corporate bond discounting, and entrusted on-lending Leo all understand, but the terms pre-sale credit and virtual demutualized credit confuse him a lot.

"The so-called pre-sale credit means that the Union Bank lends a sum of money to the supplier, and the supplier pays off the goods with the goods, and then the United Group completes the purchase of the goods from the Union Bank." Francisco explains, "Originally, in the normal commercial credit process, the goods were collateral for the supplier to obtain a bank loan, and only when it could not be repaid, but here it was agreed in advance that the goods would be used to offset the loan, so there is no default." In fact, Union Bank does not have to look at the goods at all, and does not have to go to great lengths to keep, seize and liquidate the goods, as long as he has a letter of consent from the United Group, he can provide a one-day loan to the supplier and then pay it off. ”

In this way, the chain becomes very strange: although the relationship between the supplier and the bank is a loan, the occurrence period is only one day, and the delivery can be completed without interest; However, the relationship between the bank that gets the title of the goods from the supplier and the consortium becomes a buying and selling relationship, well, a buying and selling relationship with a payment time of up to 180 days or 365 days - and no one specifies what the buying and selling period must be, as long as the buyer pays a little more (interest money), the bank can accept it.

"The so-called virtual demutualized credit means that Union Bank provides an employee with a sum of money for him to purchase virtual shares from the United Group, stipulating that the shares are Class C shares, which are different from the traditional Class A preferred shares and Class B normal shares, and will be liquidated after separate dividends every year......

Francisco laughed, "In fact, the bank transferred the loan to the United Group through the employee channel, the so-called dividend is just the bonus that the employee should get at the end of the year, the difference in price before and after the liquidation is equal to the loan interest rate, as soon as the liquidation, the credit and shares will disappear immediately, the employee has no shares and no debts, and he only gets the bonus according to the work performance - the name is dividends." Of course, it is not necessary for every employee to participate, but it is good for the core level and management employees to participate. For example, Chairman Leo can borrow 100 million lira to buy virtual shares, and at the end of the year, you can repay 105 million lira to the bank, while the United Group will definitely give you more than 105 million lira, and the difference is the annual bonus you should get. In fact, whether it's 100 million or 105 million, you can't touch it at all, it's all directly transferred between bank accounts......"