货币银行学双语复习提纲

Chapter 1

Financial markets

Markets in which funds are transferred from people who have an excess of available funds to people who have a shortage.

Security

Is a claim on the issuer’s future income or assets.

Bond

Is a debt security that promises to make payments periodically for a specified period of time.

Interest rate

Is the cost of borrowing or the price paid for the rental of funds.

Common stock (stock)

Represents a share of ownership in a corporation.

●To raise funds to finance their activities.

● A higher price for a firm’s shares means that it can raise a larger amount of funds, which can

be used to buy production facilities and equipment.

The foreign exchange market

For funds to be transferred from one country to another, they have to be converted from the currency in the country of origin(say, dollars) into the currency of the country they are going to (say, euros). The foreign exchange market is where this conversion takes place.

The foreign exchange rate

The price of one country’s currency in terms of another’s.

Financial intermediaries

Institutions that borrow funds from people who have saved and in turn make loans to others.

Banks

Are financial institutions that accept deposits and make loans.

●Commercial banks

●Saving and loan associations

●Mutual saving banks

●Credit unions

Other financial institutions

●Insurance companies

●Finance companies

●Pension funds

●Mutual funds

●Investment banks

Types of financial intermediaries

●Depository institutions存款机构

Commercial banks

Savings and loan associations and mutual savings banks

Credit unions信用社

●Contractual savings institutions契约型储蓄机构

Life insurance companies人寿保险

Fire and casualty insurance companies意外伤害险

Pension funds and government retirement funds养老和政府退休资金

●Investment intermediaries投资中介

Finance companies

Mutual funds

Money market mutual funds

Investment banks

A budget deficit is the excess of government expenditures over tax revenues for a particular time period, typically a year, while a budget surplus arises when tax revenues exceed government expenditures.

Chapter 2

Financial markets perform the essential economic function of channeling funds from households, firms, and governments that have saved surplus funds by spending less than their income to those that have a shortage of funds because they wish to spend more than their income.