金融英语第三单元 金融稳定
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金融英语 chapter_3
Since 1997, banks have been able to acquire an unlimited number of branches nationwide, and the number of commercial banks has fallen nearly in half.
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In 1956, the U.S. Congress passed the Bank Holding Company Act, which broadened the scope of what bank holding companies could do, allowing them to provide various nonbank financial services.
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2
The operations of individual banks are roughly similar throughout the world. In all countries, banks are financial intermediaries in the business of earning profits. Considering the structure and operation of the banking industry as a whole, however, the business of banking varies from nation to nation. Each country has its own unique banking history, and this fact alone accounts for distinctive features of national banking system.
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In 1956, the U.S. Congress passed the Bank Holding Company Act, which broadened the scope of what bank holding companies could do, allowing them to provide various nonbank financial services.
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2
The operations of individual banks are roughly similar throughout the world. In all countries, banks are financial intermediaries in the business of earning profits. Considering the structure and operation of the banking industry as a whole, however, the business of banking varies from nation to nation. Each country has its own unique banking history, and this fact alone accounts for distinctive features of national banking system.
金融英语3
– Road shows to promote the new securities
To provide information about the offering and generate interest among potential investors To collect information for the issuing firm and its underwriters about the price at which they can market the securities
– In a word, firms issue new securities and receive the proceeds from the sale in the primary market
3-4
Primary Versus Secondary Markets
Secondary market
leading underwriters
Public offering price
(85%)
{
(15%)
} }
3-11
{
leading underwriters
Shelf Registrations
SEC (Securities and Exchange Commission) Rule 415 introduced in 1982
3-7
Investment Banking Arrangements
Public offerings typically are marketed by investment bankers who in this role are called underwriters (承銷商) (承銷商) A preliminary registration statement must be filed with the Securities and Exchange Commission (SEC), describing the issue and the prospects of the company
To provide information about the offering and generate interest among potential investors To collect information for the issuing firm and its underwriters about the price at which they can market the securities
– In a word, firms issue new securities and receive the proceeds from the sale in the primary market
3-4
Primary Versus Secondary Markets
Secondary market
leading underwriters
Public offering price
(85%)
{
(15%)
} }
3-11
{
leading underwriters
Shelf Registrations
SEC (Securities and Exchange Commission) Rule 415 introduced in 1982
3-7
Investment Banking Arrangements
Public offerings typically are marketed by investment bankers who in this role are called underwriters (承銷商) (承銷商) A preliminary registration statement must be filed with the Securities and Exchange Commission (SEC), describing the issue and the prospects of the company
《金融英语听说》Unit3
《金融英语听说》Unit3Unit 3Lending BusinessWarm-up1. Match the Chinese terms in Column A with their English equivalents in Column B.Answers for Reference1 汽车贷款auto loan2 个人房屋贷款personal housing loan3 次级按揭贷款subprime mortgage loan4 信贷风险credit risk5 商业贷款commercial loan6 财务状况financial standing7 按揭抵押的房产mortgaged property8 利率风险interest rate risk9 分期付款pay by instalments10一次性付款pay in a lump sum2. Discuss in pairs and answer the following questions.Answers for Reference1. Do you know the types of personal loans offered by Canadian Imperial Bank of Commerce (CIBC)?Personal housing loan 个人住房贷款– Personal second-hand housing loan 个人二手房屋贷款，个人再交易住房贷款– Personal commercial space purchase loan 个人商业用房贷款– Individual housing loans at fixed interest rate 固定利率个人住房贷款– Personal housing mixed loan 个人住房组合贷款– Individual housing provident fund loan 公积金个人房屋贷款– Personal mortgage loan 个人住房抵押贷款Personal purchase loan 个人消费贷款Personal operation loan 个人经营贷款Personal auto loan 个人汽车贷款Personal housing improving loan 个人房屋维修贷款Personal consumer durables loan 个人耐用品消费贷款Commercial educational loan 商业助学贷款Government-subsidized educational loan 政府助学贷款Personal loan backed by pledged rights 个人产权质押贷款2. What do you think should be prepared for a loan proposal before you go to apply for a personal housing loan to CCB? valid identify certificate 有效身份证明, e.g., ID card 身份证, Hukou 户口, certificate of permanent residence 永久居民证or passport 护照Employment certificate 工作证Property right/title certificate 房产证Income statement 收入证明3. What should be considered if you were handling a loan proposal as a manager of the Credit Department?People 借款人(the identification of potential borrower, information about the person, their family, their income, their financial standing, etc. 申请借款人的身份、个人信息、家庭状况、收入、资信等)Purpose 借款的用途(the purpose of the borrowing and how to use the money borrowed 借款的目的以及如何使用借款) Payment 还款计划(how to effect repayment: by instalments or in a lump sum 如何还款：分期付款还是一次付清)– Repayment schedule 还款计划– Amount of the loan granted 审批贷款的金额– Term of the loan 贷款的期限Protection 还款保障(what to be used as collateral or securityfor the loan and who to be the guarantee 什么做贷款的抵押品以及谁是担保人)Perspective 还款风险预测(the assessment of risk of credit in perspective 客观地评估信用风险)Short DialoguesTask 1 Multiple ChoiceListen carefully and choose the best answer to the question after each dialog.Scripts & AnswersDialog 1 M: Hi, Xiaohong. There is news about bankruptcies of some U.S. banks. It seems the banks are subject to some risks in their operation.W: Yes. Excessive interest rate ri sk can pose a significant threat to a bank’s earnings and capital base.M: Do you know the exact meaning of the interest rate risk?W: It is difficult to explain it in a few words. Let me see, eh… Generallyspeaking, interest rate risk is the risk arising from the change in value ofan interest-bearing asset, such as a loan or a bond, due to fluctuation ininterest rates. As rates rise, the price of a fixed rate bond will fall. As ratesfall, the price of the bond will rise.M: So the task of control over the interest rate risk would be critical to banks, because the change in interest rates will affect the value of a bank’s interest-bearing assets.W: Right, but sometimes it is beyond the control of one bank.Question: What is usually considered the cause of interest rate risk according to the woman? (D)译文男：嗨，晓红。
金融稳定概述
3
一、金融稳定的含义
金融稳定作为一种状态，强 调一个国家的整个金融体系 不出现大的波动，要求金融 体系的各个组成部分能够健 康运作，并且能够正确评估、 防范和化解金融风险。
4
二、金融稳定的内容
1.货币稳定
类型 对内价值稳定 对外价值稳定
表现 国内的一般物价水平的稳定 汇率稳定
5
二、金融稳定的内容
知识点1：金融稳定概述
知识点1：金融稳定概述 一、金融稳定的含义 二、金融稳定的内容 三、金融稳定的三个重要判断
1
一、金融稳定的含义
欧洲中央银行认为： 金融稳定是指金融机构、金融市场和市场基础设施运行良好， 抵御各种冲击而不会降低储蓄向投资转化效率的一种状态。
2
一、金融稳定的含义
中国人民银行认为： 金融稳定是指金融体系处于能够有效发挥其关键功能的状态。 在这种状态下，宏观经济健康运行，货币和财政政策稳健有效， 金融生态环境不断改善，金融机构、金融市场和金融基础设施 能够发挥资源配置、风险管理、支付结算等关键功能，而且在 受到内外因素冲击时，金融体系仍然整体上能够平稳运行。
信用环境
法律环境
金融基础 设施
反洗钱
会计准则
金融临管
8
三、金融稳定的三个重要判断
1.价格稳定是金融稳定的重要条件 价格包括商品服务价格和金融资产价格
9
三、金融稳定的三个重要判断
2.银行稳定是金融稳定的核心 商业银行重要性的体现： 最为庞大的资产规模 广泛的业务范围 与支付清算系统存在“天然联系” 对整个金融业和社会经济的重要影响
10
三、金融稳定的三个重要判断
3.金融稳定是金融安全的基础 金融安全是一国经济安全的核心 金融稳定是确保一国金融安全的基础 金融稳定并不必然带来绝对的金融安全
一、金融稳定的含义
金融稳定作为一种状态，强 调一个国家的整个金融体系 不出现大的波动，要求金融 体系的各个组成部分能够健 康运作，并且能够正确评估、 防范和化解金融风险。
4
二、金融稳定的内容
1.货币稳定
类型 对内价值稳定 对外价值稳定
表现 国内的一般物价水平的稳定 汇率稳定
5
二、金融稳定的内容
知识点1：金融稳定概述
知识点1：金融稳定概述 一、金融稳定的含义 二、金融稳定的内容 三、金融稳定的三个重要判断
1
一、金融稳定的含义
欧洲中央银行认为： 金融稳定是指金融机构、金融市场和市场基础设施运行良好， 抵御各种冲击而不会降低储蓄向投资转化效率的一种状态。
2
一、金融稳定的含义
中国人民银行认为： 金融稳定是指金融体系处于能够有效发挥其关键功能的状态。 在这种状态下，宏观经济健康运行，货币和财政政策稳健有效， 金融生态环境不断改善，金融机构、金融市场和金融基础设施 能够发挥资源配置、风险管理、支付结算等关键功能，而且在 受到内外因素冲击时，金融体系仍然整体上能够平稳运行。
信用环境
法律环境
金融基础 设施
反洗钱
会计准则
金融临管
8
三、金融稳定的三个重要判断
1.价格稳定是金融稳定的重要条件 价格包括商品服务价格和金融资产价格
9
三、金融稳定的三个重要判断
2.银行稳定是金融稳定的核心 商业银行重要性的体现： 最为庞大的资产规模 广泛的业务范围 与支付清算系统存在“天然联系” 对整个金融业和社会经济的重要影响
10
三、金融稳定的三个重要判断
3.金融稳定是金融安全的基础 金融安全是一国经济安全的核心 金融稳定是确保一国金融安全的基础 金融稳定并不必然带来绝对的金融安全
金融英语 武汉理工 Unit 3
Background Information
美联储主要职责：
1、制定并负责实施有关的货币政策； 2、对银行机构实行监管，并保护消费者合法的信贷权利； 3、维持金融系统的稳定； 4、向美国政府，公众，金融机构，外国机构等提供可靠的 金融服务。
美联储其它职责：
1、 经济教育 2、 社会超越 3、 经济研究
Text :
Banking Industry
3.1 Introduction to Banking Industry
Banks have influenced economies and politics for centuries. Historically, the primary purpose of a bank was to provide loans to trading companies. Banks provided funds to allow businesses to purchase inventory, and collected those funds back with interest when the goods were sold. For centuries, the banking industry only dealt with businesses, not consumers. Banking services have expanded to include services directed at individuals, and risk in these much smaller transactions are pooled.
2. 在金融领域中，“投机”和“投资”这两个术语事 实上是很特殊的。举个例子来讲，尽管“投资”这 个单词普遍被人们用来描述任何把货币投到一种金 融工具，以期望在一段时间后获得收益的行为。风 险更大的货币行为—包括投资到世界股市的资金-事实上不是一种投资，而是投机行为。
金融稳定名词解释
金融稳定名词解释
金融稳定是一个相对宽泛的概念，通常是指金融机构、金融市场、金融基础设施等各方面的运行稳健、风险可控，能够正常发挥其各项功能的状态。
金融稳定是金融体系健康发展的基础，也是宏观经济稳定的重要支撑。
在金融稳定的背景下，金融机构能够保持稳健经营，各种金融交易和业务能够正常开展，金融市场能够充分发挥其配置资源、定价定价等功能，同时也能有效防范系统性金融风险。
金融稳定的概念是相对于金融波动而言的，其标志包括但不限于以下几点：
1. 金融机构、金融市场和金融基础设施等各个层面都保持稳健和安全，能够应对正常的风险和挑战。
2. 金融体系能够有效发挥其关键功能，包括资源配置、风险管理、支付结算等，以支持实体经济和经济发展。
3. 金融体系内部的风险得到有效控制，不出现系统性金融风险，能够抵御各种内外部冲击。
4. 金融体系的监管框架和制度体系健全完善，能够适应金融发展的需要，确保金融活动的规范、有序和可控。
为了实现金融稳定，需要采取一系列的措施和政策，包括
但不限于：
1. 建立健全的监管框架和制度体系，加强金融机构、金融市场和金融基础设施的监管，确保其稳健运行。
2. 优化金融机构、金融市场的结构，提升其竞争力和稳健性。
3. 加强宏观审慎管理，注重防范和化解系统性金融风险，避免金融波动的发生。
4. 实施稳健的货币政策和财政政策，保持宏观经济的基本稳定，为金融体系的稳健运行提供良好的环境。
5. 建立健全的危机管理和处置框架，确保在突发情况下能够迅速响应和处理风险。
总的来说，金融稳定是一个综合性的概念，涉及到金融机构、金融市场、监管政策等多个方面。
Part Three金融英语课件
• 2012年3月份近十个交易日人民币对美元中间价变化情况
时间 中间价 变化基点 3月20日 6.3029 53 3月19日 6.3082 118 3月16日 6.3200 159 3月15日 6.3359 31 3月14日 6.3328 69 3月13日 6.3259 23
3月12日 6.3282 209
• 与单一汇率对应的是“复汇率”，所谓复 汇率是指一种货币（或一个国家）有两种 或两种以上汇率，不同的汇率用于不同的 国际经济活动。又称多元汇率或多重汇率。 复汇率形式是双重汇率和多种汇率。设置 复汇率的主要目的在于：（1）鼓励或限制 某些商品出口；（2）鼓励或限制某些货物 进口；（3）鼓励某些商品在国内生产； （4）借高价卖出或低价买入以充实国库。
II. Exchange Arrangement
1.The main contents of RMB exchange rate reform: • Change of the exchange rate adjustment method; • Change of parity formation and daily floating band; • Adjustment of initial exchange rate.
3.A “basket of currencies” refers to some major currencies which are selected to form a currency basket endowed with corresponding weights according to the actual performance of China’s external economy. e.g. USD, Japanese yen, Euro, Korea Won .
《金融稳定及》课件
健经营。
微观审慎监管包括对资本充足率 、流动性、风险集中度等方面的
监管要求。
微观审慎监管需要与宏观审慎政 策相互配合，共同维护金融稳定
。
国际合作与协调
在全球化背景下，各国金融市场相互 关联，金融危机的跨国传导成为常态 。
国际组织如国际货币基金组织、世界 银行等在推动国际合作与协调方面发 挥着重要作用。
宏观审慎政策
宏观审慎政策是针对系统性风 险的防范和化解而制定的政策 措施。
宏观审慎政策的目标是维护整 个金融体系的稳定，防止金融 危机的发生。
宏观审慎政策包括对资本充足 率、杠杆率、流动性等指标的 要求，以及对金融市场行为的 监管和限制。
微观审慎监管
微观审慎监管是对单个金融机构 的风险管理和监管，以确保其稳
国际金融稳定合作与协调的挑战与机遇
随着全球经济一体化的深入发展，国际金融市场的联系和互动越来越紧 密，国际金融稳定合作与协调的重要性也越来越突出。
国际金融稳定合作与协调面临着诸多挑战，如各国经济政策的差异、国 际监管标准的统一、跨境风险传递等。
国际金融稳定合作与协调也存在着诸多机遇，如共同应对全球经济风险 、促进国际金融市场的健康发展、提高国际金融体系的韧性和稳定性等 。
金融稳定的重要性
金融稳定是经济发展的重要基础
一个稳定的金融体系能够为经济发展提供必要的资金支持，促进资源的有效配置，推动经 济增长。
金融稳定有助于防范和化解金融风险
金融风险可能导致金融危机的发生，对实体经济造成严重冲击。保持金融稳定能够降低金 融风险，减少金融危机发生的可能性。
金融稳定有助于维护国家安全和社会稳定
国内金融稳定实践
宏观审慎政策
介绍我国在实施宏观审慎政策方 面的实践，如控制杠杆率、加强 资本监管等。
微观审慎监管包括对资本充足率 、流动性、风险集中度等方面的
监管要求。
微观审慎监管需要与宏观审慎政 策相互配合，共同维护金融稳定
。
国际合作与协调
在全球化背景下，各国金融市场相互 关联，金融危机的跨国传导成为常态 。
国际组织如国际货币基金组织、世界 银行等在推动国际合作与协调方面发 挥着重要作用。
宏观审慎政策
宏观审慎政策是针对系统性风 险的防范和化解而制定的政策 措施。
宏观审慎政策的目标是维护整 个金融体系的稳定，防止金融 危机的发生。
宏观审慎政策包括对资本充足 率、杠杆率、流动性等指标的 要求，以及对金融市场行为的 监管和限制。
微观审慎监管
微观审慎监管是对单个金融机构 的风险管理和监管，以确保其稳
国际金融稳定合作与协调的挑战与机遇
随着全球经济一体化的深入发展，国际金融市场的联系和互动越来越紧 密，国际金融稳定合作与协调的重要性也越来越突出。
国际金融稳定合作与协调面临着诸多挑战，如各国经济政策的差异、国 际监管标准的统一、跨境风险传递等。
国际金融稳定合作与协调也存在着诸多机遇，如共同应对全球经济风险 、促进国际金融市场的健康发展、提高国际金融体系的韧性和稳定性等 。
金融稳定的重要性
金融稳定是经济发展的重要基础
一个稳定的金融体系能够为经济发展提供必要的资金支持，促进资源的有效配置，推动经 济增长。
金融稳定有助于防范和化解金融风险
金融风险可能导致金融危机的发生，对实体经济造成严重冲击。保持金融稳定能够降低金 融风险，减少金融危机发生的可能性。
金融稳定有助于维护国家安全和社会稳定
国内金融稳定实践
宏观审慎政策
介绍我国在实施宏观审慎政策方 面的实践，如控制杠杆率、加强 资本监管等。
金融英语视听说_第三章听力原文及答案解析
译文 男： 黛安娜， 对于美国的次 贷危机你怎 么 看？ 女： 这些天我已 经数百次听到 这个 词了。据我所知， 这是 对冲基金惹的一 场大 祸。 各 种利益的冲突 导致许多 银行和企 业，尤其是投 资银 行陷入困境。 这 是撤 销 金融管制 产生的后果。有人 评论说 他们 将及 时调 整方向，以免重 复1929 年 的悲 剧。 男： 最近有些 经济战 略受到 许多批 评。这 些政策是以提高自由市 场效率的名 义 实 施的。有人批 评说 某些政策用金融操控手段取代了真正富有成效的革新，把 财 富从家庭 转移 到公司，从而使整个美国经济处于高度风险之中。
ቤተ መጻሕፍቲ ባይዱ
W: Yes. Excessive interest rate risk can posea significant threat to a bank
’ｓ
earnings and capital base.
M: Do you know the exact meaning of the interest rate risk?
loan when it is due.
M: What will happen if I could not repay the loan?
W: The bank will sell your mortgaged house and the payment will be used to
repay the loan. M: Oh, it is terrible. I
Dialog 2 M: Professor Wang, would you tell me what would happen if a bank had inadequate liquidity? W: There will be dire consequences, I think. You know that liquidity is a prime concern in banking operation and a shortage of liquidity has often been a trigger for bank failures. However, holding assets in a highly liquid form tends to reduce the income from that asset.
金融英语第三单元 金融稳定
�
19
3. Special Term
� �
Stress test: 压力测试 A stress test, in financial terminology, is an analysis or simulation designed to the ability of a given financial instrument or financial institution to deal with an economic crisis.
11
2. Vocabulary & Phrase
� � � � � �
In view of: 鉴于 Financial panic: 金融恐慌 FSAP 金融部门评估规划 Financial Sector Assessment Program Early warning system: 预警系统 Market segmentation: 市场细分 CAMEL 骆驼评级
23
3. Special Term
� �
Too Big to Fail: 大而不倒 The "too big to fail" theory asserts that certain financial institutions are so large and so interconnected that their failure would be disastrous to the economy, and they therefore must be supported by government when they face difficulty.
7
主要内容
3. 金融安全网 (1)金融监管 � (2)中央银行最后贷款人职能 � (3)投资者保护制度： � 存款保险制度 证券投资者保护基金 保险保障基金
19
3. Special Term
� �
Stress test: 压力测试 A stress test, in financial terminology, is an analysis or simulation designed to the ability of a given financial instrument or financial institution to deal with an economic crisis.
11
2. Vocabulary & Phrase
� � � � � �
In view of: 鉴于 Financial panic: 金融恐慌 FSAP 金融部门评估规划 Financial Sector Assessment Program Early warning system: 预警系统 Market segmentation: 市场细分 CAMEL 骆驼评级
23
3. Special Term
� �
Too Big to Fail: 大而不倒 The "too big to fail" theory asserts that certain financial institutions are so large and so interconnected that their failure would be disastrous to the economy, and they therefore must be supported by government when they face difficulty.
7
主要内容
3. 金融安全网 (1)金融监管 � (2)中央银行最后贷款人职能 � (3)投资者保护制度： � 存款保险制度 证券投资者保护基金 保险保障基金
金融英语课件(unit3)
Types of financial statements
Balance sheet The income statement The statement of owner’s equity Statement of cash flows
ቤተ መጻሕፍቲ ባይዱ
F ro m b a n k Issu in g c e rta in se c u rity T ra d e c re d it a c c ru a ls
Language Points (语言点)：
1. generous adj. 慷 慨 的 ， 大 方 的 generous with one’s money 用钱大方 心地高尚的，无偏见的 a generous mind/spirit 高尚的心， 精神 2. owe v. owe sth. to sb. 欠某人债/将某事物归因或归功于 某人 He owes $50 to his father. 他欠他父亲 $50 。 He owes his success more to luck than to ability.他认为他的 成功靠运气而不是自己能力。 3. allow for sb./sth. 在计算、估计、考虑时包括某人/某事 I will take you half an hour to get to the station, allowing for traffic delays. 把路上的耽搁算进去，你要半小时才能到 车站。
Unit Three Part B Financial Statements
教学目的与要求（Teaching targets）： 1. to help students to understand the purposes, functions and types of financial statements, especially the types of financial statements. 2. to help students to get familiar with the special English words and expressions about financial statements 教学重难点(Emphases and difficult points） some important vocabulary: financial statement ， revenues and expenses，statement of financial position， balance sheet ， income statement ， statement of cash flows ， statement of owner’s equity ， net income ， net loss，capital transaction the types of financial statements. Some important special vocabulary and expressions, eg, balance sheet, income statement, statement of cash flows, net loss, expense/expenditure, as of, revenue/income.
新编金融英语教程 Chapter3 Monetary Policy
• the U.S. Treasury • unit of account
3.3 Language Notes
III. Sentences
1. Monetary policy is the process during which the monetary authority of a country, like the central bank or currency board, controls the supply of money. 2. The changes in fiscal and monetary policies that lead to changes in aggregate demand interact, in turn, with aggregate supply to produce changes in prices, real output, and employment. 3. The basic approach is to use various statistical methods and models, judgment based on historical experience, and incoming data on the full range of factors comprising and determining aggregate demand and aggregate supply to develop a forecast for the variables of major concern such as real gross domestic product (GDP), inflation, the unemployment rate, and exchange rates. 4. The data that are used include information about retail sales, industrial production, consumer confidence, business capital spending plans, wages, personal income, profits, and the external balance of payments. 5. The Fed conducts most of its open market operations in Treasury securities because the market for these securities is the most liquid and has the largest trading volume.
金融稳定报告
金融稳定政策工具的创新与完善
金融稳定政策工具的创新
• 创新货币政策工具，如量化宽松政策、负利率政策等。 • 创新财政政策工具，如地方政府债务置换、减税降费等。 • 创新金融监管政策工具，如宏观审慎评估体系、金融科技监管等。
金融稳定政策工具的完善
• 完善货币政策工具，提高货币政策的有效性。 • 完善财政政策工具，提高财政政策的有效性。 • 完善金融监管政策工具，提高金融监管的有效性。
金融稳定与经济发展的相互影响
• 经济发展能够提高金融体系的稳定性，因为随着经济的发展，金融市场的广度和深 度都会增加，金融机构的盈利能力也会提高。 • 金融稳定也能够促进经济发展，因为金融稳定能够保证资金的正常流动，为经济发 展提供资金支持。
金融稳定对国家经济安全的影响
金融稳定对国家经济安全的重要性
06
金融稳定监管体系及其完善
金融稳定监管体系概述
金融稳定监管体系的构成
• 宏观审慎监管：包括对金融市场的宏观审慎评估、对系统重要性金融机构的监管等。 • 微观审慎监管：包括对金融机构的资本充足率要求、对金融机构的风险管理体系要求等。 • 市场行为监管：包括对金融市场交易行为的监管、对金融消费者权益的保护等。
金融稳定监管体系的目标
• 保持金融市场的稳定，防止金融危机的发生。 • 保护金融消费者的利益，维护金融市场的公平和公正。
金融稳定监管体系的完善措施
加强宏观审慎监管
• 建立宏观审慎评估体系，对金融市场的风险进行监测和预警。 • 对系统重要性金融机构实施更加严格的监管，降低金融危机的发生概率。
加强微观审慎监管
国内金融稳定案例的启示
• 要加强金融监管，防范金融风险的积累和爆发。 • 要加强宏观经济政策调控，保持经济平稳健康发展。
金融英语 chapter 3 interest rate
What would you learn?
Interest and interest rate are two basic categories coming with the concept of credit. What we mainly should learn from interest rate theories is how to determine the interest rate. By looking through this chapter, you should be able to grasp the essence and the calculation of interest rate, the types of interest rate and interest rate system and its reform of our country
Inflation
So far in our discussion of interest rates, we have ignored the effects of inflation on the cost of borrowing. What we have up to now been calling the interest rate makes no allowance for inflation, and it is more precisely referred to as the nominal interest rate, which is to distinguish it from the real interest rate, the interest rate that is adjusted by subtracting expected changes in the price level so that it more accurately reflects the true cost of borrowing.
金融市场与金融机构基础(英文版)第3章
Chapter 3
Depository Institutions: Activities and Characteristics
Asset/Liability Problem
Spread Income Types of Risk Credit Risk Regulatory Risk Interest Rate Risk
If actual reserves exceed required reserves , the difference is
referred to as excess reserves.
Bank temporarily short of their required reserves can borrow
2
Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
The asset/liability problem that depository institutions
The asset/liability problem that depository institutions
Depository Institutions
Commercial Banks Savings and Loan Associations
Savings Banks
Credit Unions
7
Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
13
Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
Depository Institutions: Activities and Characteristics
Asset/Liability Problem
Spread Income Types of Risk Credit Risk Regulatory Risk Interest Rate Risk
If actual reserves exceed required reserves , the difference is
referred to as excess reserves.
Bank temporarily short of their required reserves can borrow
2
Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
The asset/liability problem that depository institutions
The asset/liability problem that depository institutions
Depository Institutions
Commercial Banks Savings and Loan Associations
Savings Banks
Credit Unions
7
Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
13
Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
unit3金融英语
spreads between bid and ask prices are narrow. =deep market=active market=liquid market
Thin market:淡市 A market in which trading volume is low, and
No consequently bid and asked quotes are wide and
Tight money:紧银根
Image Tight credit:信用紧缩
Tight market:旺市
No A market in which trading volume is high, trading is Image active and highly competitive, and consequently
Image 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.
Terms and Paraphrasing:
neutral: a.中立的，中性N 的，平静的o ，平淡的；n.中立人，中立国
Image
If a person or country adopts a neutral position or remains neutral,they don’t support anyone in a disagreement, war or
Thin market:淡市 A market in which trading volume is low, and
No consequently bid and asked quotes are wide and
Tight money:紧银根
Image Tight credit:信用紧缩
Tight market:旺市
No A market in which trading volume is high, trading is Image active and highly competitive, and consequently
Image 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.
Terms and Paraphrasing:
neutral: a.中立的，中性N 的，平静的o ，平淡的；n.中立人，中立国
Image
If a person or country adopts a neutral position or remains neutral,they don’t support anyone in a disagreement, war or
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� �
Moral hazard: 道德风险 In economic theory, a moral hazard is a situation where a party will have a tendency to take risks because the costs that could incur will not be felt by the party taking the risk. In other words, it is a tendency to be more willing to take a risk, knowing that the potential costs or burdens of taking such risk will be borne, in whole or in part, by others.
�
19
3. Special Term
� �
Stress test: 压力测试 A stress test, in financial terminology, is an analysis or simulation designed to the ability of a given financial instrument or financial institution to deal with an economic crisis.
2
1. Main Idea
�
� � � �
1. Financial stability overview:
importance; framework; policies, tools and systems; key aspects
3
主要内容
1. 金融稳定概述
� � � �
重要性； 框架； 政策工具和制度； 关注点
金融英语 ——研习中国的金融体系 Finance English ——Case of China
对外经济hree
The People ’s Bank of China Maintains People’ Financial Stability 第三单元 中国人民银行维护金融稳定
�
�
Systemically important financial institutions: 系 统重要性金融机构 A systemically important financial institution (SIFI) is a bank, insurance company, or other financial institution whose failure might trigger a financial crisis.
� �
Asset bubble: 资产泡沫 A ramping up of asset prices to such a degree that a major reversal or crash is expected. 指资产价格狂涨至预期将会大幅逆转或崩溃的程度 。
�
3. Special Term
18
�
3. Special Term
Spillover effects: 溢出效应 � Spillover effects are externalities of economic activity or processes that affect those who are not directly involved. � 所谓溢出效应，是指一个组织在进行某项活 动时，不仅会产生活动所预期的效果，而且 会对组织之外的人或社会产生的影响。简而 言之，就是某项活动要有外部收益，而且是 活动的主体得不到的收益。
9
主要内容
4. 宏观审慎政策框架：
� � � �
形成背景和内涵； 政策工具； 国际新进展； 中国的情况
10
2. Vocabulary & Phrase
� � �
Precautionary measures: 预防措施 Put back on track: 重回正轨 On-going operation: 持续经营 例：On-going operation of commercial banks: 商业银行的持续经营 财务会计的基本假设或基本前提之一，是指企业的 生产经营活动将按照既定的目标持续下去，在可以 预见的将来，不会面临破产清算。这是绝大多数企 业所处的正常状况。
20
�
Credit crunch: 信贷紧缩 A credit crunch is a reduction in the general availability of loans (or credit) or a sudden tightening of the conditions required to obtain a loan from the banks.
7
主要内容
3. 金融安全网 (1)金融监管 � (2)中央银行最后贷款人职能 � (3)投资者保护制度： � 存款保险制度 证券投资者保护基金 保险保障基金
8
主要内容
4. Macro prudential policy framework: development and content； � policy instruments； � recent international development； � development in China �
16
3. Special Term
� �
Leverage: 杠杆 通常指经济活动中“以小博大”的行为。投资者只须投 入少量资金，便有机会争取到与投资正股相若，甚 或更高的回报率。“杠杆效应”使投资者可交易金额被 放大的同时，也使投资者承担的风险加大了很多倍 。
17
3. Special Term
� �
12
2. Vocabulary & Phrase
� � �
� � � �
Diversify: 多样化 Financial safety net: 金融安全网 FDIC: Federal Deposit Insurance Corporation美 国联邦存款保险公司 Fair play: 公平竞争 Premium:手续费 Infringement: 侵犯 Infringement of property right 侵犯知识产权
25
3. Special Term
� �
Risk exposure: 风险暴露；风险敞口 指对某一借款人或国家的信贷总额，即借款人一旦 违约银行可能损失的总金额。 为防止风险过度集中 在单一借款人上，银行通常会制定避险措施。
26
3. Special Term
� �
Provision: 准备金 A kind of obligation on the balance sheet. When a company expects that some expenditure or loss may occur, it will make assessment and arrangements ahead.
4
1. Main Idea
2. Financial stability assessment:
� � � �
overview framework content toolkits
5
主要内容
2. 金融稳定评估 � 概况 � 框架 � 内容 � 方法
6
1. Main Idea
3. Financial safety net (1) Financial supervision � (2) Central bank as Lender-of-Last-Resort � (3) Investor protection system: � Deposit insurance system Securities investor protection fund Insurance security fund
11
2. Vocabulary & Phrase
� � � � � �
In view of: 鉴于 Financial panic: 金融恐慌 FSAP 金融部门评估规划 Financial Sector Assessment Program Early warning system: 预警系统 Market segmentation: 市场细分 CAMEL 骆驼评级
15
3. Special Term
� �
Leverage: 杠杆 In finance, leverage (sometimes referred to as gearing in the United Kingdom and Australia) is a general term for any technique to multiply gains and losses. Leverage exists when an investor achieves the right to a return on a capital base that exceeds the investment which the investor has personally contributed to the entity or instrument achieving a return. Common ways to attain leverage are borrowing money, buying fixed assets and using derivatives.
23
3. Special Term
� �
Too Big to Fail: 大而不倒 The "too big to fail" theory asserts that certain financial institutions are so large and so interconnected that their failure would be disastrous to the economy, and they therefore must be supported by government when they face difficulty.
Moral hazard: 道德风险 In economic theory, a moral hazard is a situation where a party will have a tendency to take risks because the costs that could incur will not be felt by the party taking the risk. In other words, it is a tendency to be more willing to take a risk, knowing that the potential costs or burdens of taking such risk will be borne, in whole or in part, by others.
�
19
3. Special Term
� �
Stress test: 压力测试 A stress test, in financial terminology, is an analysis or simulation designed to the ability of a given financial instrument or financial institution to deal with an economic crisis.
2
1. Main Idea
�
� � � �
1. Financial stability overview:
importance; framework; policies, tools and systems; key aspects
3
主要内容
1. 金融稳定概述
� � � �
重要性； 框架； 政策工具和制度； 关注点
金融英语 ——研习中国的金融体系 Finance English ——Case of China
对外经济hree
The People ’s Bank of China Maintains People’ Financial Stability 第三单元 中国人民银行维护金融稳定
�
�
Systemically important financial institutions: 系 统重要性金融机构 A systemically important financial institution (SIFI) is a bank, insurance company, or other financial institution whose failure might trigger a financial crisis.
� �
Asset bubble: 资产泡沫 A ramping up of asset prices to such a degree that a major reversal or crash is expected. 指资产价格狂涨至预期将会大幅逆转或崩溃的程度 。
�
3. Special Term
18
�
3. Special Term
Spillover effects: 溢出效应 � Spillover effects are externalities of economic activity or processes that affect those who are not directly involved. � 所谓溢出效应，是指一个组织在进行某项活 动时，不仅会产生活动所预期的效果，而且 会对组织之外的人或社会产生的影响。简而 言之，就是某项活动要有外部收益，而且是 活动的主体得不到的收益。
9
主要内容
4. 宏观审慎政策框架：
� � � �
形成背景和内涵； 政策工具； 国际新进展； 中国的情况
10
2. Vocabulary & Phrase
� � �
Precautionary measures: 预防措施 Put back on track: 重回正轨 On-going operation: 持续经营 例：On-going operation of commercial banks: 商业银行的持续经营 财务会计的基本假设或基本前提之一，是指企业的 生产经营活动将按照既定的目标持续下去，在可以 预见的将来，不会面临破产清算。这是绝大多数企 业所处的正常状况。
20
�
Credit crunch: 信贷紧缩 A credit crunch is a reduction in the general availability of loans (or credit) or a sudden tightening of the conditions required to obtain a loan from the banks.
7
主要内容
3. 金融安全网 (1)金融监管 � (2)中央银行最后贷款人职能 � (3)投资者保护制度： � 存款保险制度 证券投资者保护基金 保险保障基金
8
主要内容
4. Macro prudential policy framework: development and content； � policy instruments； � recent international development； � development in China �
16
3. Special Term
� �
Leverage: 杠杆 通常指经济活动中“以小博大”的行为。投资者只须投 入少量资金，便有机会争取到与投资正股相若，甚 或更高的回报率。“杠杆效应”使投资者可交易金额被 放大的同时，也使投资者承担的风险加大了很多倍 。
17
3. Special Term
� �
12
2. Vocabulary & Phrase
� � �
� � � �
Diversify: 多样化 Financial safety net: 金融安全网 FDIC: Federal Deposit Insurance Corporation美 国联邦存款保险公司 Fair play: 公平竞争 Premium:手续费 Infringement: 侵犯 Infringement of property right 侵犯知识产权
25
3. Special Term
� �
Risk exposure: 风险暴露；风险敞口 指对某一借款人或国家的信贷总额，即借款人一旦 违约银行可能损失的总金额。 为防止风险过度集中 在单一借款人上，银行通常会制定避险措施。
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3. Special Term
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Provision: 准备金 A kind of obligation on the balance sheet. When a company expects that some expenditure or loss may occur, it will make assessment and arrangements ahead.
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1. Main Idea
2. Financial stability assessment:
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overview framework content toolkits
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主要内容
2. 金融稳定评估 � 概况 � 框架 � 内容 � 方法
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1. Main Idea
3. Financial safety net (1) Financial supervision � (2) Central bank as Lender-of-Last-Resort � (3) Investor protection system: � Deposit insurance system Securities investor protection fund Insurance security fund
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2. Vocabulary & Phrase
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In view of: 鉴于 Financial panic: 金融恐慌 FSAP 金融部门评估规划 Financial Sector Assessment Program Early warning system: 预警系统 Market segmentation: 市场细分 CAMEL 骆驼评级
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3. Special Term
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Leverage: 杠杆 In finance, leverage (sometimes referred to as gearing in the United Kingdom and Australia) is a general term for any technique to multiply gains and losses. Leverage exists when an investor achieves the right to a return on a capital base that exceeds the investment which the investor has personally contributed to the entity or instrument achieving a return. Common ways to attain leverage are borrowing money, buying fixed assets and using derivatives.
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3. Special Term
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Too Big to Fail: 大而不倒 The "too big to fail" theory asserts that certain financial institutions are so large and so interconnected that their failure would be disastrous to the economy, and they therefore must be supported by government when they face difficulty.