国际金融 名词解释全

国际金融名词解释

C2

balance of payments：The set of accounts recording all flows of value between a nation’s residents and the residents of the rest of the world during a period of time.

the current account：Records the values of goods and services sold and purchased abroad, net interest and other factor payments and net unilateral transfers and gifts.

the capital account：consists of capital transfer and the buying and selling of nonproductive assets and non-financial assets.

the double-entry bookkeeping：Any exchange automatically enters the balance-of-payment accounts twice: as a credit and as a debit of the same value.

current account balance：equals the net credits - debits on the flows of goods, services, income, and unilateral transfers. It also equals the change in the nation’s foreign assets minus foreign liabilities, also known as net foreign investment.

the overall balance：equals the sum of the current account balance and the private capital account balance.（算式）

the international investment position: is a statement of the stocks of a nation’s international assets and foreign liabilities at a point in time, usually the end of a year.

the IMF：The IMF was set up with contributions of gold and foreign exchange from member governments. It grants all member countries the right to borrow reserves to finance temporary deficits.

SDRs：（Special Drawing Right）is an artificial "basket" currency used by the IMF for internal accounting purposes. The SDR is also used by some countries as a peg for their own currency, and is used as an international reserve asset.

C3

foreign exchange：holdings of foreign currencies: (1) foreign currencies;

(2) payment instruments dominated in foreign currencies, like demand bank deposits; (3) securities in terms of foreign currencies; (4) other

claims on nonresidents in terms of foreign currencies.

exchange rate：the price of one nation’s money in terms of another nation’s money.

spot exchange rate：The spot exchange rate is the price for “immediate” exchange (delivery).

forward exchange：the price set now for an exchange (delivery) that will take place sometime in the future

intangible market：banks and traders who work at banks are at the center of the foreign exchange market. These banks and their traders use computers and telephones to conduct foreign exchange trades with their customers and also with each other.

a vehicle currency：One foreign currency is exchanged for dollars, and these dollars are then exchanged for the other foreign currency. The dollar is often used in this way to accomplish trading between two other currencies, and the dollar is called a vehicle currency.

SWIFT (Society for Worldwide Interbank Financial Telecommunications)：which is used to transmit instructions from one member bank to another CHIPS(Clearing House International Payments System)：This system clears dollar transfers among its member banks, which include all large and internationally active banks.

floating exchange rate：It is the exchange rate system without intervention by governments or central bankers.

the equilibrium exchange rate：(market-clearing rate) means no tendency for change. It is at the intersection point of the supply and demand curves.

fixed exchange rate：Official strive to keep the exchange rate virtually fixed ( or pegged ) even if the rate they choose differs from the current equilibrium rate.

the depreciation(the appreciation)：Under the floating-rate system a fall in the market price (the exchange rate value) of a currency is called a depreciation of that currency; a rise is an appreciation.

the devaluation(the revaluation)：We refer to a discrete official reduction (rising) in the otherwise fixed par value of a currency as a