金融英语

Task: Acquire terms, substitutes, and cross-reference words on pp. 49, 298. Ch 4. Financial System Financial institutions (45-1)

Financial institutions sell financial products as follows:

mercial banks take in deposits and make short-term loans to borrowers.

2.Building societies in Britain receive deposits and lend home loans/mortgages to home-buyers.

3.Insurance companies sell auto, house, and life insurance policies and invest in secured bonds.

4.An investment trust sells its shares on stock exchanges and invests in stocks and bonds.

A mutual fund (US)

5.Venture capital companies invest funds in risky start-ups for their clients.

Financial markets (45-1)

Financial markets: where lenders and borrowers buy and sell financial products.

1. A money market is a short-term financial market where money are lent and borrowed for less a

year.

2. A stock exchange (NYSE) is a capital market where qualified companies can raise funds by

selling their shares to the public.

3.Foreign exchange markets allow people to buy and sell foreign currencies.

4.Payment facilities are loans, credit facilities, arrangements with banks or suppliers to pay for

goods on a future date.

5.Discount house 贴现公司A financial company which buys and sells bills at a discount.

6.Bills of exchange:汇票a written order instructing (the importer) to pay an exporter a certain

sum on a given date

7.Bills: a statement of money owned for goods or services. 账单

8.To give the highest returns: product return on investment

Banks turn down requests for loans (46-2-3)

1.Request for loan: apply for credit or finance

2.Turn down requests for loans: reject

3.Feel hard done by：feel ill-treated

4.V ociferous in their complaints: voice loudly one’s grievance/criticism

5.Wield over substantial sums : control a large amount of money

6.Secure cheep finance : obtain loans at relative lower interest rates

7.Official enquiries into financial systems

8.Evaluation of financial system : assessment of

plement by a knowledge of users’ requirements: balance

Participants in a financial system (46-4-5)

1.capital goods : land, plant and equipment purchased for production

2.Financial intermediaries：institutions

3.Financial brokers and advisers

4.Regulator The Federal Reserve is the US government watchdog in banking market.

5.Periphery, margin

6.Rationale for its existence :logic, justification

7.Raise long-term capital: to obtain money or organize loans

To finance expenditure: provide money to pay for expenses (47-1)

1.Run down savings : reduce, decrease

e balance : the remaining amount of money in the bank account

3.Economic agent: financial traders

anize their financing : arrange to raise funds to pay for

Financial intermediaries (47-2)

1.lenders and borrowers.

2.Savers hold their bank deposits.

3.Borrowers like to obtain long-term loans.

4.Reconcile divergent requirements: bring together

5.Value/assess bank services/products in their own right/according to their own requirements.

6.Money transmission facilities: send money via bank arrangement, remit

7.corporate finance: company funding

8.Insurance companies sell life assurance coverage. Policy

Compete for saving and lending business in (47-3)

1.Strike a fair bargain : reach an agreement on a price

2.securities brokers and advisers

3.Money-market brokers search out counterpart. Lenders search for borrowers

4.Obviate the needs for borrowers : anticipate and eliminate, reduce transaction costs

5.Market makers: a person or brokerage house that is always prepared to buy and sell securities in

order to provide liquidity to the markets

6.Professional dealers/ Toyota dealers selling only Toyota vehicles

A danger of fraud and malpractice (47-4) deception and illegal conducts

1.Regulate dealings/supervise transactions

2.honor their commitments: perform their promises

3.Enter into contract : sign the contract

4.Prudential regulations: cautious supervision

5.Booms and slumps in the economy : prosperity and recession in business cycle

6.curb credit expansion : tighten loan expansions

Financial instruments (48- 2)

IOU借据 a signed financial document stating that I owe you money.

A certificate of deposit issued by a bank states that it owes a sum of money to the depositor, and

will repay it on a specified date with a promised interest.

1.Claim 权证demand for or being entitled to repayment of a sum of money

2.Is entitled to repayment at a specified date. Having the legal right to receive money on a due date

3.Loans 贷款are money lent and liabilities of a borrower,

4.Repayable on demand 可应要求支付的: required to repay at the owner’s request

5.Ordinary shares普通股: a security representing a unit of the nominal capital of a company