This essay focuses on Irrevocable Reimbursement Undertaking. access their latest annual
report. Include a link and answer the following questions regarding

• Irrevocable Reimbursement Undertaking

Advanced Accounting Case 2: Go to McDonald’s corporation’s website (see below) and access their latest annual
report. Include a link and answer the following questions regarding their derivative and foreign currency transactions.

Daily Market Insights

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Foreign Exchange Spot:

• It involves the exchange of two currencies for immediate delivery.

Foreign Currency Forwards:

• It involves the exchange of two currencies for future delivery.

Foreign Currency Swaps

• Borrowing in one currency vs. lending in another currency for a specific tenor.The Co-operative Bank of Kenya has an experienced Correspondent Banking team with in-depth knowledge of international banking products and practices to meet your business requirements.

  We believe in the strength of building lasting relationships for mutual benefit.

  Purchase & Sale of Foreign Current

  We buy and sell foreign currency from all our branches countrywide. All major world currencies are available. For amounts above USD 1,000 and its equivalent, we offer preferential rates directly from our Treasury Department.

  Benefits;

  • firstly, No commissions charged for currency exchange
  • Secondly, Transactions cover cash over the counter, spot deals, forward contracts, SWAPs and other hedging products to cover your forex risks
  • Thirdly, Negotiated rates are real-time and competitive
  • Further, Flat fee for outgoing SWIFT transfers irrespective of the amount

  Our Correspondent Banking department offers a range of services to our correspondent banks including;

  firstly, Trade Finance

  • Secondly, Documentary Letters of Credit
  • thirdly, Local and Foreign Guarantees
  • further, Documentary Collections
  • Irrevocable Reimbursement Undertaking
  • Risk Participation

Correspondent Banking

• The Financial Institutions (FI) desk is responsible for relationships with banking institutions in Kenya and abroad.