Design Research On The Project Of "Cash Pooling" Model Of GACC

Cash pooling, was first used by multinational companies and international banks finance the development of financial management together to unify the group's global capital allocation, to minimize the net position held by the Group. Cash pooling services, including in matters of major units of account balances on the plan members, members of the business day overdraft, active allocation and payment, members of the commission lending between enterprises and member enterprises to deposit to the group headquarters, were under by interest and so on. The cash pooling business back on the banks require a higher operating system, the completion of the business to be dependent on the advanced banking software and operating platforms.Use of cash pooling, Group of companies raise funds for the overall efficiency, saving the cost of corporate finance, and enhance the Group Headquarters of the funds under the control of investment companies has played a very active role, so the range in the world has been rapid development and application. In recent years, various magazines, there are many professionals or the cash pooling parties on the model and application of some research done, but look at these studies, the cash pooling for the technical aspects of operating system research is more, for the cash pool capital allocation less the amount of how to design the study; the risk of the cash pool for qualitative research is more, but less quantitative research.This paper is based on the GACC Group cash pooling needs of the project implementation on how the company launched the project cash pooling, centralized management of funds of the problems, the work is intended to solve practical problems, this paper focuses on solving the Group subsidiary companies to participate in GACC the optimal amount of money when the cash pooling supply business, or borrowed to identify problems, propose the best model for capital allocation system, which in practice to guide these affiliated enterprises through this operational tools to model the dynamic operation of capital: financial surplus enterprises can guarantee the normal operation of their own capital chain under the premise of the surplus money into the company's cash pool, thus higher than bank deposit rates of enterprises on preferential terms to improve the efficiency of fund utilization; and the relative shortage of funds business, the Group cash pool by the platform to lower bank lending rates over the same period borrowing on concessional terms, the appropriate amount of funds, on the one hand to ensure the smooth flow of corporate cash while also received the benefits of lower financing costs. Model from the group level model of optimal cash holdings, not only can effectively integrate the Group financial synergies, but also from the perspective of cash flow investments concern the Group's consolidated balance of cash flow.