金融英语术语

1.`Stock markets：issuance of shares or common stock.2.Bond markets: issuance of bonds.modity markets: trading of commodities.2.Money markets: short term debt financing and investment.3.Derivatives markets:instruments for t he management of financial risk.4.Futures markets: standardized forward contracts5.Insurance markets: redistribution of various risks.6.Derivative products are financial products which are used to control risk or paradoxicallyexploit risk. It is also called financial economics.7.The international capital market trades capital market instruments with an originalmaturity greater than one year.8.The foreign exchange market is the one where foreign currencies a re bought and sold in thecourse of trading goods, services, and financial claims among countries.9.★Money: Economists define money (also referred to as the money supply) as anything thatis generally accepted in payment for goods or services or in the repayment of debts.10.Currency: currency, consisting of dollar bills and coins, clearly fits money’s definition and isone type of the money.11.★Transaction cost：The time spent trying to exchange goods and services is called atransaction cost12.★Liquidity：Liquidity is a measure of the ease with which an asset can be turned into ameans of payment,namely money.13.★Inflation：Inflation is a sustained rise in the general price level—that is, the price ofeverything goes up more or less at the same time.14.M1: currency and various deposit accounts on which people can write checks.15.M2：M2 equals all of M1 plus assets that cannot be used directly as a means of payment andare difficult to turn into currency quickly.16.M3：M3 adds to M2 a number of other assets that are important to large institutions but not toindividuals.17.Demand deposits at commercial banks, which are standard checking accounts that pay nointerest18.★Depository institutions are financial institutions that accept deposits from savers andmake loans t o borrowers; Normally, we use the term “banks” as an alternative19.★Bank: A bank is a financial institution where you can deposit your money.20.A commercial bank i s an institution that accepts deposits and uses the proceeds to makeconsumer, commercial, and mortgage loans.21.A holding company is a corporation that owns a group of other firms.munity Banks: Small banks—those with assets of less than $1 billion—that concentrateon serving consumers and small businesses.23.Regional and Super-Regional Banks larger than community banks and much less local.Besides consumer and residential loans,these banks also make commercial and industrial loans.24.Money Center Banks do not rely primarily on deposit financing. These banks rely insteado n borrowing for their funding25.Savings institutions,which are sometimes referred to as “thrift institutions” or “t h rifts”, arefinancial intermediaries that were established to serve households and individuals26.Savings Banks They raise funds by accepting deposits and use them primarily to makemortgage loans27.Central banks are normally government-owned and charged with quasi-regulatoryresponsibilities, such as supervising commercial banks, or controlling the cash interest rate. 28.Credit unions (CUs)are n onprofit org anizations. They are composed of members with acommon bond, such as an affiliation with a particular l abor union, church, university, or even residential area.29.Dividends：The deposits are called shares, and interest paid on the deposits is calleddividends.30.★Insurance companies are intermediaries whose primary function is to allow householdsand businesses to shed specific risks by buying contracts called insurance policies that pay cash compensation if certain s pecified events occur.31.property and casualty insurance:Policies that cover accidents, theft, or fire a re calledproperty and casualty insurance.32.health and disability insurance:Policies that cover sickness or the inability to work arecalled health and disability insurance,33.life insurance :Policies that cover death are called life insurance.34.premiums:Payments made to i nsurance companies for t he insurance they provide are calledpremiums.35.reinsurance :Insurance companies commonly obtain reinsurance, which effectively allocatesa portion of their return and risk to other insurance companies.36.★a pension fund offers people the ability to make premium payments today in exchange forpromised payments under certain future circumstances.37. A pension plan is an asset pool that accumulate s over an individual’s working years and ispaid out during the nonworking years.38.★A mutual fund is a portfolio of stocks, bonds, or other assets purchased in the name of agroup of investors and managed by a professional investment company or other financial institution.39.An Investment bank is not a bank in the ordinary sense. It is a financial institution that helpscorporation s raise funds.40.Brokers are pure intermediaries who act as agents for investors in the purchase or sale ofsecurities.41.Security dealers link buyers and sellers b y standing ready to buy and sell securities at givenprices.42.auction market in which buyers and seller trade with each other in a central location.43. A dealer market in which dealers make the market by buying and selling securities at givenprices.44.the interest rate: The willingness to postpone purchases into the future is a function of thereward—that is, the interest rate.45.★future value is the value on some future date of an investment made today.46.★Present value is the value in the present of a payment that is promised to be made in thefuture.47.★nominal interest rate is What we have up to now been calling the interest rate makes noallowance of inflation.48.★real interest rate is adjusted for expected changes in the price level so that it moreaccurately reflects the true cost of borrowing.49.Money market is the market for short-term credit.50.★Treasury bills：To finance the national debt, the treasury department issues a variety ofdebt securities51.★A CD (Negotiable Certificates of Deposit) is is a debt instrument sold by a depositoryinstitution that pays annual interest payments equal to a fixed percentage of the original purchase price. In addition, at maturity the original purchase price is also paid back.52.★Commercial paper securities are unsecured promissory notes, issued by corporations thatmature in no more than 270 days.53.Banker’s acceptanc es are money market instruments created in the course of financinginternational trade.54.Repurchase agreements (repos) are short-term agreements in which the seller sells agovernment security to a buyer and simultaneously agrees to buy the government security back on a later date at a higher price.55.The money markets are wholesale markets where most securities trade in largedenominations.56.MMMFs are funds that aggregate money from a group of small investors and invest it inmoney market instruments.57.★The central bank is the financial institution designed to regulate and control the moneysupply of a nation, with the goal of fostering economic growth without inflation.58.Monetary policy may be defined as the use of various tools by the central bank to control theavailability of loanable funds in an effort to achieve national economic goals,such as full employment and reasonable price stability.59.legal reserves :All depository institutions offering selected kinds of deposits are required tohold a small percentage of those deposits in an asset account of the central bank known as legal reserves.60.★Reserve requirements are a percentage of depository institutions' demand depositliabilities that must be kept on deposit at the central bank as a requirement of banking regulations.61.★Discount rate is the interest rate charged by a central bank on loans to commercial banks.62.The capital market is the market in which long-term debt (generally those with originalmaturity of one year or greater) and equity instruments are traded.63.The primary market is where new issues of stocks and bonds ar e introduced.64.When firms sell securities fo r the first time, the issue is an initial public offering (I PO).65. A secondary market is where the sale of previously issued securities takes place.66.★Bonds are securities that represent a debt o wed by the issuer to the investor, similar to anI.O.U.67.Municipal bonds:These are issued by state and local governments or their agencies to payfor public improvements, reducing debt, or other purposes.68.Corporate bonds:These are issued by corporations that want to raise money for theirbusiness venture, ranging from balancing their cash flow to buying new equipment, building new facilities, or spending on new research.ernment bonds:Issued by the Federal government or one of the its agencies. From acredit perspective, theses are the safest of all investments because they are backed by the “full faith and credit”of the US government; so unless the US goes bankrupt, you are guaranteed to get your money back.70.Treasuries bills, notes and bonds are collectively called “Treasuries”.71.Bonds can be issued by either governments or corporations.72. A bond’s coupon rate refers to the amount of interest that will be paid based on the facevalue of the bond.73.the coupon rate is tied to market rates through an index such as the rate on treasury bills.74.The yield is the discount rate or interest rate that an investor wants from i nvesting in a bond.75. A share of stock in a firm represents ownership. A stockholder owns a p ercentage interest ina firm, consistent with the percentage of outstanding stock held.76. A bear market indicates the continuous downward movement of the stock market.77. a bull market indicates the constant upward movement of the stock market.78.Financial derivatives are financial contracts,or financial instruments,whose values arederived from the value of something else ( known as the underlying).79.★Exchange-traded derivatives (ETD) are those derivatives products that are traded viaspecialized derivatives exchanges or other exchanges.80.★Over-the counter (OTC) derivativesSecurities that are not listed on one of the exchanges trade in the over-the-counter market. 81.They are contracts that are traded ( and privately negotiated) directly between two parties,without going through an exchange or other intermediary.82.★Derivatives are complex instruments devised as a form of insurance, to t ransfer riskamong parties based on their willingness to assume additional risk, or hedge against it.83.★A forward, or forward contract, is an agreement between a buyer and a seller toexchange a commodity or financial instrument for a specified amount of cash on a prearranged future date.84.The forward price is defined as the delivery price that makes the current market value of thecontract zero. No money is paid in the present by either party to the other.85.The face value of the contract is the quantity of the item specified in the c ontract times theforward price.86.initial margin represents a good faith deposit that serves to cover losses if prices moveagainst the trader.87.★Options are contracts that give the purchaser the right to buy or sell the underlyingfinancial instrument at a specified price within a specific period of time.88.★A swap is an agreement between two parties to exchange sequences of cash flows for a setperiod of time.89.Interest rate swaps involve the exchange of one set of interest payments for another set ofinterest payments, all denominated in the same currency. The most common type of interest rate swap specifies:90.Currency swap:It involves exchanging principal and fixed interest payments on a loan inone currency for principal and fixed interest payments on a similar loan in another currency.91.★the foreign exchange market operates much like financial market but isn’t located in aspecific place like a stock exchange. It is where currency trading takes place.92.foreign exchange rates: The prices of foreign currencies expressed in terms of othercurrencies are called foreign exchange rates.93. A foreign exchange transactio n is still a shift of funds, or short-term financial claims, fromone country and currency to another.94.The OTC market is a country’s portion of an international OTC network of major dealers—mainly but not exclusively banks—operating in financial centers around the world, trading with each other and with customers, via computers, telephones, and other means.95.★A spot transaction is a straightforward (or “outright”) exchange of one currency foranother. (This trade represents a “direct exchange”between two currencies and has the shortest time frame.96.★An outright forward transaction, like a spot transaction, is a straightforward singlepurchase/sale of one currency for another.97. A swap is an agreement between two parties to exchange payments based on identicalnotional principle.98. A currency swap is structurally different from the FX swap described above.99. a foreign exchange futures contract is an agreement between two parties to buy/sell aparticular (non-U.S. dollar) currency at a particular price on a particular future date, as specified in a standardized contract common to all participants in that currency futures exchange.100.The option buyer—who has no further financial obligation after he has paid the premium—is not required to make margin payments.101.The option writer—who has all of the financial risk—is required to put up initial margin and to make additional (maintenance) margin payments if the market price moves adversely to his position.102.★A country’s balance of payments is commonly defined as the record of transactions between its residents and foreign residents over a specified period.103.The balance of payments has two major accounts—the current account, and the capital and financial account.104.An export of any of the tangible goods is a credit in this account, because this would result in a payment from abroad.105.An import of any of the tangible goods is a debit in this account, as this would result in a payment made to abroad.106.A balance-of-payments deficit refers to a situation in which the official settlements balance is positive.107.A balance-of-payments equilibrium refers to a situation where the sum of the debits and credits in the current account and capital and financial account is zero, and thus the official settlements balance is zero.108.A letter of credit is an international bank’s future promise to pay for goods stored overseas or for goods shipped between two countries.109.★Bankers’acceptances are t ime drafts used mainly to finance the shipment of goods or commodities.。