《unit金融英语》PPT课件.ppt

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1、Banking EnglishUnit 3 Money marketUnit 3 Money marketQuestions of Unit Three:1 1、What is the money market?and what functions What is the money market?and what functions does it have?does it have?2 2、What are the principal instruments in the U.S.What are the principal instruments in the U.S.money mar

2、ket?money market?3 3、What are Fed funds?and what is Fed funds rate?What are Fed funds?and what is Fed funds rate?4 4、How to distinguish among bills,notes and bonds?How to distinguish among bills,notes and bonds?Unit 3 Money marketUnit 3 Money marketQuestions of Unit Three:5 5、What is Eurodollar?What

3、 is Eurodollar?6 6、What is CD?How did it originate?What is CD?How did it originate?7 7、What features does the CDs interest rate have?What features does the CDs interest rate have?8 8、What is CP?and how can issuers realize What is CP?and how can issuers realize permanent funding with this instrument?

4、permanent funding with this instrument?Terms and Paraphrasing:Terms and Paraphrasing:Surplus:a.Surplus:a.过剩的；剩的；n.n.剩余剩余额，顺差，盈余差，盈余a.a.过剩的过剩的1.Few people have large sums of surplus cash.1.Few people have large sums of surplus cash.2.The houses are being sold because they are surplus to 2.The houses

5、are being sold because they are surplus to requirements.requirements.3.Rural industries have absorbed 50%surplus work force.3.Rural industries have absorbed 50%surplus work force.这些因超出需求而些因超出需求而闲置的房屋正在出售。置的房屋正在出售。n.n.顺差，盈余，过剩顺差，盈余，过剩If a country has a If a country has a trade surplustrade surplus,it

6、 exports more than it ,it exports more than it imports.imports.If a country has a If a country has a budget surplusbudget surplus,it has spent less than it,it has spent less than it received in taxes.a surplus of sth:received in taxes.a surplus of sth:某物过剩某物过剩Trade surplus:Trade surplus:贸易顺差贸易顺差 bud

7、get surplus:budget surplus:预算盈余预算盈余 liquidity liquidity（fluidityfluidity）surplus:surplus:流流动性性过剩剩 Terms and Paraphrasing:Terms and Paraphrasing:deficit:n.deficit:n.赤字；逆差；亏损；亏空；不足赤字；逆差；亏损；亏空；不足 A deficit is the amount by which something is less than A deficit is the amount by which something is less

8、than what is required or expected.what is required or expected.Budget deficit:Budget deficit:预算赤字算赤字 trade deficit:trade deficit:贸易逆差易逆差A deficit of 1 billion francs:10A deficit of 1 billion francs:10亿法朗的赤字法朗的赤字To cover the deficit:To cover the deficit:弥弥补赤字赤字=to make up the deficit=to make up the d

9、eficitThe balance of payment is in deficit.The balance of payment is in deficit.国国际收支逆差收支逆差=A deficit in the balance of payment.=A deficit in the balance of payment.=Balance of payment deficit.=Balance of payment deficit.Terms and Paraphrasing:Terms and Paraphrasing:deficit:n.deficit:n.赤字；逆差；亏损；亏空；不

10、足赤字；逆差；亏损；亏空；不足 A deficit is the amount by which something is less than A deficit is the amount by which something is less than what is required or expected.what is required or expected.Budget deficit:Budget deficit:预算赤字算赤字A deficit of 1 billion francs:10A deficit of 1 billion francs:10亿法朗的赤字法朗的赤字To

11、 cover the deficit:To cover the deficit:弥弥补赤字赤字=to make up the deficit=to make up the deficitThe balance of payment is in deficit.The balance of payment is in deficit.国国际收支逆差收支逆差To move funds from sectors with surplus funds to those To move funds from sectors with surplus funds to those In a deficit

12、 position.In a deficit position.Terms and Paraphrasing:Terms and Paraphrasing:neutral:a.neutral:a.中立的，中性的，平中立的，中性的，平静静的，平淡的；的，平淡的；n.n.中立人，中立中立人，中立国国If a person or country adopts a neutral position or remains If a person or country adopts a neutral position or remains neutral,they dont support anyone

13、 in a disagreement,war neutral,they dont support anyone in a disagreement,war or contest.or contest.A neutral is someone who is neutral.A neutral is someone who is neutral.中立者，持中立中立者，持中立态度的度的人人In a neutral voice:In a neutral voice:用平用平静静的的声声调 Securities exchangeSecurities exchange:证券交易所（市券交易所（市场）;场内

14、内市市场=Stock exchange=Stock exchangeStock exchange is an organized physical centralized Stock exchange is an organized physical centralized market where qualified members(dealers and market where qualified members(dealers and brokers)gather to trade listed securities,such as brokers)gather to trade li

15、sted securities,such as common common stockstock、bonds.It operates under strict rules and bonds.It operates under strict rules and regulations.regulations.(main)board market:(main)board market:主板市主板市场(场内内市市场)Second board marketSecond board market:二板市二板市场=Growth Enterprise Market=GEM=Growth Enterpris

16、e Market=GEM 创业板板=SME board=SME board 中小企业板GEM GEM is a stock market set up by Stock Exchange of Hong Kong for centralized funds-raising of growth enterprises or new emerging companies from all industries and of all sizes who are temporarily not qualified to be listed in the main board.on-floor mark

17、eton-floor market:场内内市市场floor dealer:floor dealer:场内内交易商交易商floor broker:floor broker:场内内经纪人人On floor orderOn floor order:场内内委托委托Floor order ticketFloor order ticket:场内内委托委托单off-board marketoff-board market：场外交易市外交易市场off-floor marketoff-floor market：场外交易市外交易市场Off-exchange marketOff-exchange market:场外

18、市外市场Over-the-counter marketOver-the-counter market:场外交易市外交易市场Curb(kerb)marketCurb(kerb)market:场外市外市场Over-the-counter marketOver-the-counter market:场外交易市外交易市场Over-the-counter market is a market consisting of a Over-the-counter market is a market consisting of a group of brokers and dealers who are in

19、ter-related group of brokers and dealers who are inter-related by a computer network and directly trade securities by a computer network and directly trade securities that are not listed on an exchange.It is a that are not listed on an exchange.It is a decentralized decentralized market.market.ListL

20、ist:上市，上市，获准上市准上市De-listDe-list:摘牌摘牌1.These company will be listed in nasdaq or london 1.These company will be listed in nasdaq or london stock exchange.stock exchange.On stock exchange=in stock exchangeOn stock exchange=in stock exchange=in main board market=in main board marketListed companyListed

21、 company:上市公司上市公司=quoted company=quoted companyListed stock:Listed stock:上市股票上市股票Listing requirementListing requirement:上市上市条条件件Open-market operationOpen-market operation:公公开开市市场操作操作The buying and selling of government securities by a The buying and selling of government securities by a central bank

22、,in order to control the money supply.central bank,in order to control the money supply.Dealer:Dealer:交易商交易商=jobber=jobber D De ea al le er r mme ea an ns s a an n i in nd di iv vi id du ua al l o or r f fi ir rmm i in n t th he e s se ec cu ur ri it ti ie es s b bu us si in ne es ss s w wh ho o b b

23、u uy ys s a an nd d s se el ll ls s s st to oc ck ks s a an nd d b bo on nd ds s a as s a a p pr ri in nc ci ip pa al l r ra at th he er r t th ha an n a as s a an n a ag ge en nt t,i it t b bu uy ys s o or r s se el ll ls s a a s se ec cu ur ri it ty y o on n i it ts s o ow wn n a ac cc co ou un nt

24、 t a an nd d a at t i it ts s o ow wn n r ri is sk k ,i it ts s p pr ro of fi it t o or r l lo os ss s i is s t th he e d di if ff fe er re en nc ce e b be et tw we ee en n t th he e b bu uy yi in ng g and selling prices for the same security.and selling prices for the same security.on ones own acco

25、unton ones own account:为自己的利益BrokerBroker:经纪人人 B Br ro ok ke er r mme ea an ns s a an n i in nd di iv vi id du ua al l o or r c co ommp pa an ny y a ac ct ts s a as s a an n agent for the customers to purchase or sale agent for the customers to purchase or sale securities from and to a third party a

26、nd a commission securities from and to a third party and a commission is charged for their servicesis charged for their services.EaseEase:(n.v.)(n.v.)放松，放放松，放宽，降低，降低Ease of credit:Ease of credit:放放宽信信贷Ease of money:Ease of money:银根松根松动Ease of interest rate:Ease of interest rate:降低利率降低利率Tighten:Tight

27、en:(v.)(v.)收收紧Tighten money(supply):Tighten money(supply):收收紧银根，根，紧缩货币供供给Tightening of interest rate:Tightening of interest rate:收收紧利率，提高利率利率，提高利率Tight money:Tight money:紧银根根Tight credit:Tight credit:信用信用紧缩Tight marketTight market:旺市旺市A market in which trading volume is high,trading is active and hi

28、ghly competitive,and consequently spreads between bid and ask prices are narrow.=deep market=active market=liquid marketThin market:Thin market:淡市淡市A market in which trading volume is low,and consequently bid and asked quotes are wide and th e instrument tr a de d is not very liquid.=inactive market

29、Market depthMarket depth:市市场的深度的深度In finance,market depth is the size of an order needed to move the market price a given amount.If the market is deep,a large order is needed to change the price.Market depth closely relates to the notion of liquidity,the ease to find a trading partner for a given or

30、der:a deep market is also a liquid market.Fed funds:Fed funds:联邦基金邦基金 F Fu un nd ds s d de ep po os si it te ed d b by y c co ommmme er rc ci ia al l b ba an nk ks s a at t F Fe ed de er ra al l R Re es se er rv ve e B Ba an nk ks s，d de es si ig gn ne ed d t to o e en na ab bl le e b ba an nk ks s

31、t te emmp po or ra ar ri il ly y s sh ho or rt t o of f t th he ei ir r r re es se er rv ve e r re eq qu ui ir re emme en nt t t to o b bo or rr ro ow w r re es se er rv ve es s f fr ro omm b ba an nk ks s h ha av vi in ng g e ex xc ce es ss s r re es se er rv ve es s,a an nd d a al ls so o c ca al

32、ll le ed d federal funds.federal funds.Fed funds rate:Fed funds rate:联邦基金利率邦基金利率 T Th he e i in nt te er re es st t r ra at te e t th ha at t b ba an nk ks s c ch ha ar rg ge e e ea ac ch h o ot th he er r f fo or r t th he e u us se e o of f F Fe ed d f fu un nd ds s.I It t c ch ha an ng ge es s d

33、da ai il ly y a an nd d i is s a a s se en ns si it ti iv ve e i in nd di ic ca at to or r o of f g ge en ne er ra al l i in nt te er re es st t r ra at te e t tr re en nd ds sBase rate:Base rate:基准利率基准利率It is synonymous with prime rateIt is synonymous with prime rate，used as a basis to price loans.

34、A margin of loan rate and base rate reflects the risk of the borrowers.Prime(interest)ratePrime(interest)rate:优惠利率（基准利率）惠利率（基准利率）=favorable rate=concessional rate=favorable rate=concessional rate=preferential rate=preferential rateThe Prime Interest Rate is the interest rate charged by banks to thei

35、r most creditworthy customers(usually the most prominent and stable business customers)or to the customers subsidized by the state.Concessional loan:Concessional loan:优惠惠贷款款Prime assets:主要主要资产Prime bank bill:一流一流银行票据行票据prime corporate bond:优等公司等公司债Prime credit:优等信等信贷Prime investment:最佳投最佳投资Sub-prime

36、 mortgage(loan)crisis:次次级抵押抵押贷款危机款危机（次贷危机）次次级：subordinated/secondary/sub-primeMarket(interest)rate:Market(interest)rate:市市场利率利率Rates of interest paid on deposits and other Rates of interest paid on deposits and other investments,determined by the interaction of the investments,determined by the inte

37、raction of the supply of and supply of and demand for funds in the money marketdemand for funds in the money marketMarketableMarketable:适适销的，能在市的，能在市场出售的出售的Marketable security:Marketable security:适适销证券，有价券，有价证券券Equity securityEquity security:产权证券券Debt securityDebt security:债权证券券Marketability:Marketa

38、bility:市市场能力，流能力，流动性，适性，适销性性=liquidity=liquidity流流动性，性，清清偿力力Treasury Bills:Treasury Bills:国国库券券 Treasury bills,or T-bills,are instruments issued by Treasury bills,or T-bills,are instruments issued by the government with an original maturity of one year the government with an original maturity of one

39、 year or less,which are sold at a discount from their face or less,which are sold at a discount from their face value.For instance,you might pay$970 for a$1,000 value.For instance,you might pay$970 for a$1,000 bill.When the bill matures,you would be paid bill.When the bill matures,you would be paid$

40、1,000.The difference between the purchase price$1,000.The difference between the purchase price and face value is interest.and face value is interest.Treasury notes:Treasury notes:财政中期政中期债券券 Treasury notes,sometimes called T-Notes,are Treasury notes,sometimes called T-Notes,are instruments issued by

41、 government with an original instruments issued by government with an original maturity from one to ten years,earning a fixed rate maturity from one to ten years,earning a fixed rate of interest every six months until maturity.of interest every six months until maturity.Treasury bonds:Treasury bonds

42、:长期期债券券 Treasury bonds are instruments issued by the Treasury bonds are instruments issued by the government with an original maturity of ten years government with an original maturity of ten years or more,earn a fixed rate of interest every six or more,earn a fixed rate of interest every six months

43、 until maturitymonths until maturity.Auction:Auction:拍拍卖 The selling of real or personal property to the highest The selling of real or personal property to the highest bidder by a person licensed and authorized to sell the bidder by a person licensed and authorized to sell the property.The auctione

44、er is employed by the owner or property.The auctioneer is employed by the owner or seller of the property as an agent and normally seller of the property as an agent and normally receives a percentage of the sales price as his or her receives a percentage of the sales price as his or her mission.Pro

45、ceeds:Proceeds:收入，收入，进款，收益款，收益real property:real property:不不动产 personal property:personal property:个个人人财产bidder:bidder:投投标人人,出价人出价人,Bid price:Bid price:出价（出价（买价价)Asked(ask/asking)price:Asked(ask/asking)price:要价（要价（卖价）价）=offering(offer/offered)price=offering(offer/offered)priceAsk and bid systemAsk a

46、nd bid system：竞价系价系统Offered rate:贷出利率=loan rateBid rate:借入利率=borrowing rateBid and offered rate:借入贷出利率bid-and-asked quotationbid-and-asked quotation（quotequote）:买卖报价价bid and asked spread:bid and asked spread:买卖差价差价bid in competition:bid in competition:竞价价Competitive bid(bidding):Competitive bid(bidd

47、ing):竞争争性性报价价Noncompetitive bid(bidding):Noncompetitive bid(bidding):非非竞争争性性报价价buy on bid:竞价购买Buy on credit:赊购关于“招标、投标”的翻译目前我国对中华人民共和国招标投标法招标投标法的翻译有三种：1、中国招标：The Law of the Peoples Republic of China on Bid Invitation and Bidding2、中国国际招标网：The Law of the Peoples Republic of China on Tenders and Bids3、

48、国家发展计划委员会政策法规司编译招标投标法及配套法规汇编：The Tendering and Bidding Law of the Peoples Republic of China那么，招标和投标两个单词应该怎么翻译成英文呢？其实，招标和投标不是起源于中国，招标和投标是先有英文的。我们只要看一看世界银行的采购指南和招标文件范本就可以了。世界银行的招标、投标和投标人这三个词的用法在1992年前和1992年后是不同的。现比较如下：在1992年前用T字母打头的：招标：Tendering 投标（投标文件）：Tender 投标人：Tenderer1992年开始用B字母打头的：招标：Bidding 投标

49、（投标文件）：Bid 投标人:BidderInstructions to Tenderers：投标人须知=Instructions to BiddersEligible Tenderers：合格的投标人=Eligible BiddersOriginal Tender：投标文件正本=Original Bidbidding：招标（n.）=Invitation for bid=tendering:招标(n.)=invitation for tender Tendering Documents：招标文件=Bidding Documents=tenderee=biddee:招标人（注：世行无此词）Cop

50、y of Tender：投标文件副本=Copy of BidTender Prices：投标价格=Bid PricesTendering Co.招标公司=bidding Co.投标保证金投标保证金 ：Tender Security=Bid Security开标开标 ：Tender Opening/Bid OpeningOffering:出售物，（证券）出售,发行Offering date:发行日=issue dateOpen offer:公开发售=Public offerOffer for subscription:公开招股initial public offering（IPO):首次公开发行