金融英語(yǔ)課件：Banking Industry

Unit3:BankingIndustryFinancialEnglishRevisionofUnit2OverviewofUnit3BackgroundinformationofUnit3TextExercisesAssignmentReviewofUnit2

ExercisesCheck-up

Question&Answer

SentenceTranslationRevisionofUnit2Question&Answer1. Whatarethemainadvantagesfinancialintermediariescanprovide?2. Whatarethemainreasonssomeeconomistsconcernedthatfinancialintermediariescanbeasourceofshockstotheeconomy?Check-upAnswerthefollowingquestionsaccordingtothetextinUnit33.Whatarethethreecharacteristicsthatmostpeoplewanttohaveintheirassetswhenwelookatfinancialassets?Whatisanasset?5.Whatisthe“greater-fool”theory?QuestionandAnswerCheck-upKeytothequestions:Lessrisky,andliquidity.First,bankdebtservesasmoney,sodisruptionstobankscanaffecttheamountofmoneyincirculation.Second,financialintermediariesaretiedtogetherthroughchainsofdebtsandassets.QuestionandAnswer3.Lowrisk,liquidandahighrateofreturn.Anassetiswhatoneowns.Assets=NetWorth+LiabilitiesTradinginfinancialmarketsinvolvesnotonlyananalysisofthefundamentalvalueofanasset,butalsoananalysisofhowotherpeoplewillreact.Ifpeopleareconfidentthatotherswillbuytheitemformorethantheypaidforit,thentheywillbuyitevenifithaslittlevaluetothem.QuestionandAnswerTranslatethefollowingsentencesorallySentenceTranslation1.Speculationtypicallyinvolvesthelendingofmoneyorthepurchaseofassets,equityordebtbutinamannerthathasnotbeengiventhoroughanalysisorisdeemedtohavelowmarginofsafetyorasignificantriskofthelossoftheprincipalinvestment.Check-upSentenceTranslation2.Inafinancialcontext,theterms"speculation"and"investment"areactuallyquitespecific.Forinstance,althoughtheword"investment"istypicallyused,inageneralsense,tomeananyactofplacingmoneyinafinancialvehiclewiththeintentofproducingreturnsoveraperiodoftime,mostventuredmoney—includingfundsplacedinworld'sstockmarkets—isactuallynotinvestment,butspeculation.Check-upSentenceTranslation3.Financialspeculationcaninvolvethebuying,holding,selling,andshort-sellingofstocks,bonds,commodities,currencies,collectibles,realestate,derivatives,oranyvaluablefinancialinstrumenttoprofitfromfluctuationsinitsprice,irrespectiveofitsunderlyingvalue.Check-upSentenceTranslation—SuggestedAnswers1.最典型的投機(jī)行為包括借錢或者購(gòu)買資產(chǎn)，資產(chǎn)凈值或者負(fù)債，但是上述行為并非基于徹底分析的基礎(chǔ)之上，或者被認(rèn)為安全系數(shù)低或者損失本金的風(fēng)險(xiǎn)大。

SentenceTranslation—SuggestedAnswers2.在金融領(lǐng)域中，“投機(jī)”和“投資”這兩個(gè)術(shù)語(yǔ)事實(shí)上是很特殊的。舉個(gè)例子來(lái)講，盡管“投資”這個(gè)單詞普遍被人們用來(lái)描述任何把貨幣投到一種金融工具，以期望在一段時(shí)間后獲得收益的行為。風(fēng)險(xiǎn)更大的貨幣行為—包括投資到世界股市的資金--事實(shí)上不是一種投資，而是投機(jī)行為。SentenceTranslation—SuggestedAnswers3.金融投機(jī)行為包括不管基本價(jià)值而購(gòu)買、持有、 售出、賣空股票、債券、商品、貨幣、收藏品、 房地產(chǎn)、金融衍生品或者任何有價(jià)值的金融工 具，以期望通過(guò)其價(jià)格波動(dòng)獲得利潤(rùn)。OverviewofUnit3本章旨在追溯銀行業(yè)的起源，介紹不同的銀行種類以及銀行的業(yè)務(wù)渠道以及各項(xiàng)職能。通過(guò)學(xué)習(xí)本文，應(yīng)對(duì)銀行業(yè)有總體了解，并著重了解銀行的分類以及主要的銀行職能。

本章重點(diǎn)難點(diǎn)銀行業(yè)起源銀行的分類銀行的主要業(yè)務(wù)渠道銀行的經(jīng)濟(jì)作用OverviewofUnit3

美國(guó)聯(lián)邦儲(chǔ)備系統(tǒng)

(FederalReserveSystem，簡(jiǎn)稱Fed)負(fù)責(zé)履行美國(guó)的中央銀行的職責(zé)，這個(gè)系統(tǒng)是根據(jù)《聯(lián)邦儲(chǔ)備法》(FederalReserveAct)于1913年成立的。這個(gè)系統(tǒng)主要由聯(lián)邦儲(chǔ)備委員會(huì)，聯(lián)邦儲(chǔ)備銀行及聯(lián)邦公開(kāi)市場(chǎng)委員會(huì)等組成。

BackgroundInformation

BackgroundInformation美聯(lián)儲(chǔ)主要職責(zé)：

1、制定并負(fù)責(zé)實(shí)施有關(guān)的貨幣政策；2、對(duì)銀行機(jī)構(gòu)實(shí)行監(jiān)管，并保護(hù)消費(fèi)者合法的信貸權(quán)利；3、維持金融系統(tǒng)的穩(wěn)定；4、向美國(guó)政府，公眾，金融機(jī)構(gòu)，外國(guó)機(jī)構(gòu)等提供可靠的金融服務(wù)。美聯(lián)儲(chǔ)其它職責(zé)：1、經(jīng)濟(jì)教育2、社會(huì)超越3、經(jīng)濟(jì)研究

BackgroundInformation

大蕭條（TheGreatDepression）是指1929年至1933年之間全球性的經(jīng)濟(jì)大衰退。大蕭條的影響比歷史上任何一次經(jīng)濟(jì)衰退都要來(lái)得深遠(yuǎn)。

BackgroundInformation大蕭條的普遍影響導(dǎo)致了：1、提高了政府對(duì)經(jīng)濟(jì)的政策參與性，即凱恩斯主義；2、以關(guān)稅的形式強(qiáng)化了經(jīng)濟(jì)的民族主義；3、激起了作為共產(chǎn)主義替代物的浪漫-極權(quán)主義政治運(yùn)動(dòng)（如德國(guó)納粹）。大蕭條相對(duì)于其他單一原因來(lái)說(shuō)是最能夠解釋為什么在1932年到1938年之間歐洲大陸和拉丁美洲各國(guó)政治逐漸右翼化。4、阿道夫·希特勒、貝尼托·墨索里尼等獨(dú)裁者的崛起，間接造成第二次世界大戰(zhàn)爆發(fā)

。

BackgroundInformation

回教銀行（IslamicBank）是遵循回教法律(Shariah)和原則，及回教經(jīng)濟(jì)指導(dǎo)方針的銀行業(yè)務(wù)系統(tǒng)。嚴(yán)禁“riba”(征收和繳付利息)，高利貸，經(jīng)營(yíng)具有金融風(fēng)險(xiǎn)和不合法(haram)的商業(yè)活動(dòng)，回教銀行如今已在全球銀行業(yè)的局勢(shì)里成為一股日漸增長(zhǎng)的趨勢(shì)PartI:3.1IntroductiontoBankingIndustry

PartII:3.2TypesofBanks

PartIII:

3.3BanksChannels

PartIV:3.4BanksintheEconomy

BankingIndustry3.1IntroductiontoBankingIndustry

Bankshaveinfluencedeconomiesandpoliticsforcenturies.Historically,theprimarypurposeofabankwastoprovideloanstotradingcompanies.Banksprovidedfundstoallowbusinessestopurchaseinventory,andcollectedthosefundsbackwithinterestwhenthegoodsweresold.Forcenturies,thebankingindustryonlydealtwithbusinesses,notconsumers.Bankingserviceshaveexpandedtoincludeservicesdirectedatindividuals,andriskinthesemuchsmallertransactionsarepooled.Text:ThenamebankderivesfromtheItalianwordbancowhichmeans"desk/bench",usedduringtheRenaissancebyFlorentinebankers,whousedtomaketheirtransactionsaboveadeskcoveredbyagreentablecloth.Text:

Text:

Abankisafinancialinstitutionwhereyoucandeposityourmoney.Banksprovideasystemforeasilytransferringmoneyfromonepersonorbusinesstoanother.Usingbanksandthemanyservicestheyoffersavesusanincredibleamountoftime,andensuresthatourfunds"passhands"inalegalandstructuredmanner.Therearealsoothertypesoffinancialinstitutionsthatoperatejustlikebanks.

Text:

Abankerisdefinedasapersonwhocarriesonthebusinessofbanking,whichisspecifiedas:conductingcurrentaccountsforhiscustomerspayingchequesdrawnonhim,andcollectingchequesforhiscustomers.

Text:HOWBANKSOPERATESInadditiontoprovidingasafeplaceforyourmoney,banksalsoloanmoneytobusinessesandconsumers.Alargeportionofabank'sbusinessislending.Howdobanksgetthemoneytheyloan?Themoneycomesfromdepositorslikeyou.Banksusethesedepositstomakeloans.Everyfeeyoupaytoyourbankenablesthemtoreinvestinthemselves,givingthemmoremoneytoloantoyou,foranotherfee,ofcourse.

Text:Banksareinbusinesstomakeaprofit.Theirprofitgenerallycomesfromthedifferenceininterestpaidtodepositorsandtheinterestearnedonloans.Makingloanshelpsbanksmakemoney,andofferingcheckingaccountsisawaytoattractdeposits,whichbanksturnintoprofitableloans.Text:

Bankscannotlegallyloanalloftheirdepositedmoneyallatonce.TheFederalReserveBoard,whichispartoftheFederalReserveSystem,requiresthatbanksmustkeepacertainpercentageoftheirdepositsinreserveatalltimes,assuringyou,thecustomer,canwithdrawyourmoneywhenyouneedto.Theremainingfunds,whicharenotsubjecttoreserve,areusedtomakeconsumerloans.

Text:3.2TypesofBanksBanks'activitiescanbedividedintoretailbanking,dealingdirectlywithindividualsandsmallbusinesses;businessbanking,providingservicestomid-marketbusiness;corporatebanking,directedatlargebusinessentities;privatebanking,providingwealthmanagementservicestohighnetworthindividualsandfamilies;andinvestmentbanking,relatingtoactivitiesonthefinancialmarkets.Mostbanksareprofit-making,privateenterprises.However,someareownedbygovernment,orarenon-profitorganizations.

Text:Centralbanksarenormallygovernment-ownedandchargedwithquasi-regulatoryresponsibilities,suchassupervisingcommercialbanks,orcontrollingthecashinterestrate.Theygenerallyprovideliquiditytothebankingsystemandactasthelenderoflastresortineventofacrisis.

Text:TYPESOFRETAILBANKSCommercialbanks:thetermusedforanormalbanktodistinguishitfromaninvestmentbank.AftertheGreatDepression,theU.S.Congressrequiredthatbanksonlyengageinbankingactivities,whereasinvestmentbankswerelimitedtocapitalmarketactivities.Sincethetwonolongerhavetobeunderseparateownership,someusetheterm"commercialbank"torefertoabankoradivisionofabankthatmostlydealswithdepositsandloansfromcorporationsorlargebusinesses.

Text:CommunityBanks:locallyoperatedfinancialinstitutionsthatempoweremployeestomakelocaldecisionstoservetheircustomersandthepartners.Communitydevelopmentbanks:regulatedbanksthatprovidefinancialservicesandcredittounder-servedmarketsorpopulations.Postalsavingsbanks:savingsbanksassociatedwithnationalpostalsystems.

Text:Privatebanks:banksthatmanagetheassetsofhighnetworthindividuals.Offshorebanks:bankslocatedinjurisdictionswithlowtaxationandregulation.Manyoffshorebanksareessentiallyprivatebanks.

Text:Savingsbank:inEurope,savingsbankstaketheirrootsinthe19thorsometimeseven18thcentury.Theiroriginalobjectivewastoprovideeasilyaccessiblesavingsproductstoallstrataofthepopulation.Insomecountries,savingsbankswerecreatedonpublicinitiative;inothers,sociallycommittedindividualscreatedfoundationstoputinplacethenecessaryinfrastructure.Nowadays,Europeansavingsbankshavekepttheirfocusonretailbanking:payments,savingsproducts,creditsandinsurancesforindividualsorsmallandmedium-sizedenterprises.Apartfromthisretailfocus,theyalsodifferfromcommercialbanksbytheirbroadlydecentraliseddistributionnetwork,providinglocalandregionaloutreach—andbytheirsociallyresponsibleapproachtobusinessandsociety.

Text:BuildingsocietiesandLandesbanks:institutionsthatconductretailbanking.Ethicalbanks:banksthatprioritizethetransparencyofalloperationsandmakeonlywhattheyconsidertobesocially-responsibleinvestments.Islamicbanks:BanksthattransactaccordingtoIslamicprinciples.Text:TYPESOFINVESTMENTBANKSInvestmentbanks"underwrite"(guaranteethesaleof)stockandbondissues,tradefortheirownaccounts,makemarkets,andadvisecorporationsoncapitalmarketactivitiessuchasmergersandacquisitions.Merchantbanksweretraditionallybankswhichengagedintradefinance.Themoderndefinition,however,referstobankswhichprovidecapitaltofirmsintheformofsharesratherthanloans.Unlikeventurecapitalfirms,theytendnottoinvestinnewcompanies.

Text:BOTHCOMBINEDUniversalbanks,morecommonlyknownasfinancialservicescompanies,engageinseveraloftheseactivities.Forexample,CitigroupisalargeAmericanbankinvolvedincommercialandretaillending,withsubsidiariesintaxhavensofferingoffshorebankingservicestocustomersinothercountries.Otherlargefinancialinstitutionsaresimilarlydiversifiedandengageinmultipleactivities.InEuropeandAsia,bigbanksareverydiversifiedgroupsthat,amongotherservices,alsodistributeinsurance—hencethetermbancassurance,aportmanteauwordcombining"banqueorbank"and"assurance",signifyingthatbothbankingandinsuranceareprovidedbythesamecorporateentity.

Text:OTHERTYPESOFBANKS

IslamicbanksadheretotheconceptsofIslamiclaw.IslamicbankingrevolvesaroundseveralwellestablishedconceptswhicharebasedonIslamiccanons.SincetheconceptofinterestisforbiddeninIslam,allbankingactivitiesmustavoidinterest.Insteadofinterest,thebankearnsprofit(mark-up)andfeesonfinancingfacilitiesthatitextendstothecustomers.Also,depositmakersearnashareofthebank’sprofitasopposedtoapredeterminedinterest.

Text:3.3BanksChannels

Banksoffermanydifferentchannelstoaccesstheirbankingandotherservices:Abranch,bankingcentreorfinancialcentreisaretaillocationwhereabankorfinancialinstitutionoffersawidearrayofface-to-faceservicetoitscustomers.

Text:ATMisacomputerisedtelecommunicationsdevicethatprovidesafinancialinstitution'scustomersamethodoffinancialtransactionsinapublicspacewithouttheneedforahumanclerkorbankteller.MostbanksnowhavemoreATMsthanbranches,andATMsareprovidingawiderrangeofservicestoawiderrangeofusers.ForexampleinHongKong,mostATMsenableanyonetodepositcashtoanycustomerofthebank'saccountbyfeedinginthenotesandenteringtheaccountnumbertobecredited.Also,mostATMsenablecardholdersfromotherbankstogettheiraccountbalanceandwithdrawcash,evenifthecardisissuedbyaforeignbank.

Text:Mailispartofthepostalsystemwhichitselfisasystemwhereinwrittendocumentstypicallyenclosedinenvelopes,andalsosmallpackagescontainingothermatter,aredeliveredtodestinationsaroundtheworld.Thiscanbeusedtodepositchequesandtosendorderstothebanktopaymoneytothirdparties.Banksalsonormallyusemailtodeliverperiodicaccountstatementstocustomers.

Text:

Telephonebankingisaserviceprovidedbyafinancialinstitutionwhichallowsitscustomerstoperformtransactionsoverthetelephone.Thisnormallyincludesbillpaymentsforbillsfrommajorbillers(e.g.forelectricity).Onlinebankingisatermusedforperformingtransactions,paymentsetc.overtheInternetthroughabank,creditunionorbuildingsociety'ssecurewebsite.E-bankingistheverypopularintheworld.

Text:3.4BanksintheEconomyECONOMICFUNCTIONSTheeconomicfunctionsofbanksinclude:issueofmoney,nettingandsettlementofpayments,creditintermediation,creditqualityimprovementandmaturitytransformation.

Text:Issueofmoney—Intheformofbanknotesandcurrentaccountssubjecttochequeorpaymentatthecustomer'sorder.Theseclaimsonbankscanactasmoneybecausetheyarenegotiableand/orrepayableondemand,andhencevaluedatpar.Theyareeffectivelytransferablebymeredelivery,inthecaseofbanknotes,orbydrawingachequethatthepayeemaybankorcash.

Text:Nettingandsettlementofpayments—banksactasbothcollectionandpayingagentsforcustomers,participatingininterbankclearingandsettlementsystemstocollect,present,bepresentedwith,andpaypaymentinstruments.Thisenablesbankstoeconomiseonreservesheldforsettlementofpayments,sinceinwardandoutwardpaymentsoffseteachother.Italsoenablestheoffsettingofpaymentflowsbetweengeographicalareas,reducingthecostofsettlementbetweenthem.

Text:Creditintermediation—banksborrowandlendback-to-backontheirownaccountasmiddlemen.Creditqualityimprovement—bankslendmoneytoordinarycommercialandpersonalborrowers(ordinarycreditquality),butarehighqualityborrowers.Theimprovementcomesfromdiversificationofthebank'sassetsandcapitalwhichprovidesabuffertoabsorblosseswithoutdefaultingonitsobligations.However,banknotesanddepositsaregenerallyunsecured;ifthebankgetsintodifficultyandpledgesassetsassecurity,toraisethefundingitneedstocontinuetooperate,thisputsthenoteholdersanddepositorsinaneconomicallysubordinatedposition.

Text:Maturitytransformation—banksborrowmoreondemanddebtandshorttermdebt,butprovidemorelongtermloans.Inotherwords,theyborrowshortandlendlong.Withastrongercreditqualitythanmostotherborrowers,bankscandothisbyaggregatingissues(e.g.acceptingdepositsandissuingbanknotes)andredemptions(e.g.withdrawalsandredemptionsofbanknotes),maintainingreservesofcash,investinginmarketablesecuritiesthatcanbereadilyconvertedtocashifneeded,andraisingreplacementfundingasneededfromvarioussources(e.g.wholesalecashmarketsandsecuritiesmarkets).

Text:BANKCRISISBanksaresusceptibletomanyformsofriskwhichhavetriggeredoccasionalsystemiccrises.Theseincludeliquidityrisk(wheremanydepositorsmayrequestwithdrawalsbeyondavailablefunds),creditrisk(thechancethatthosewhoowemoneytothebankwillnotrepayit),andinterestraterisk(thepossibilitythatthebankwillbecomeunprofitable,ifrisinginterestratesforceittopayrelativelymoreonitsdepositsthanitreceivesonitsloans).

Text:Bankingcriseshavedevelopedmanytimesthroughouthistory,whenoneormoreriskshavematerializedforabankingsectorasawhole.ProminentexamplesincludethebankrunthatoccurredduringtheGreatDepression,theU.S.SavingsandLoancrisisinthe1980sandearly1990s,theJapanesebankingcrisisduringthe1990s,andthesubprimemortgagecrisisinthe2000s.entity n.somethingthatexistsasaparticularanddiscreteunit經(jīng)濟(jì)實(shí)體

eg.combinedintoasingleentity

聯(lián)合的聯(lián)合成一個(gè)整體的

Text:LanguagePointsnetworth

資本凈值,凈值

eg.Theirtotalnetworthof$872billionwasdownfrom$946billionin2001and$1.2trillionin2000.

2000年這些富豪們的資產(chǎn)凈值總額為1.2萬(wàn)億美元，2001年則降至9460億，2002年僅為8720億。

The2002surveyincludedindividualswithaminimumnetworthof$550million-downfromtherequired$600millionin2001.

2002年入圍參加排名者的個(gè)人資產(chǎn)至少要達(dá)到5.5億美元，而在2001年，最起碼也得有6億的家產(chǎn)才能被《福布斯》列入考慮之列。Text:LanguagePointsquasi

a.havingalikenesstosomething;resembling類似的,與某事物相似的；相象的quasi- pref.（前綴）tosomedegree;insomemanner表示“類似”：在某種程度上；在某種意義上

eg.ItmaintainsclosecontactwiththeMainlandauthoritiesatdifferentlevels,includingtheHK/GuangdongCo-operationJointConference,theMainland/HKSARJointCommissiononCommerceandTrade,andthroughvariousbureaux,departmentsandquasi-governmentbodiesliketheHongKongTradeDevelopmentCouncil(TDC).

特區(qū)政府和內(nèi)地官方在不同層面保持密切聯(lián)系，除了通過(guò)粵港合作聯(lián)席會(huì)議和內(nèi)地與香港特別行政區(qū)商貿(mào)聯(lián)系委員會(huì)等渠道外，各決策局、部門以及如香港貿(mào)易發(fā)展局等半官方機(jī)構(gòu)，亦經(jīng)常與內(nèi)地的相關(guān)部門保持接觸。Text:LanguagePointscredit

n.reputationforsolvencyandintegrityentitlingapersontobetrustedinbuyingorborrowing.信用：給予某人的證明，其在買入或借款時(shí)可以信任的在清償能力和誠(chéng)實(shí)上的聲譽(yù);信貸

eg.Thebankrefusedfurthercreditstothecompany.

銀行拒絕再貸款給該公司。

Doesthisitemgoamongthecreditsorthedebits?

這筆賬應(yīng)記入貸方還是借方?Text:LanguagePointscommercialbank

Abankwhoseprincipalfunctionsaretoreceivedemanddepositsandtomakeshort-termloans.商業(yè)銀行：主要職能是接收需求存款和進(jìn)行短期貸款的銀行

eg.Commercialbankmanagementinanalyzingacustomer'sloan requestconsidersmanyfactors.

商業(yè)銀行的管理人員在分析客戶的貸款申請(qǐng)時(shí)必須考慮許多因素。Text:LanguagePointsstratum n.alevelofsocietycomposedofpeoplewithsimilarsocial,cultural,oreconomicstatus.(pl.strata)社會(huì)階層

eg.Theydonotconstituteaseparateclassorstratum.

知識(shí)分子和青年學(xué)生并不是一個(gè)階級(jí)或階層。Text:LanguagePointsinvestmentbank afinancialinstitutionthatdealsprimarilywithraisingcapital,corporatemergersandacquisitions,andsecuritiestrades.投資銀行

eg.Heearnedafatsalarywithaninvestmentbank.

他在一家投資銀行掙有優(yōu)厚的薪水。

Text:LanguagePoints

underwrite v.toassumefinancialresponsibilityfor;guaranteeagainstfailure承擔(dān)財(cái)政責(zé)任；對(duì)破產(chǎn)給予保險(xiǎn)

eg.Whattypesofcoverdoesyourinsurancecompany usuallyunderwrite?

你們的保險(xiǎn)公司一般承保哪些險(xiǎn)別？

Text:LanguagePointscapitalmarket marketforthetradeoforrelatingtofinancialassets,especiallybeingorrelatedtothosefinancialassetsthataddtothenetworthofabusiness資本市場(chǎng)

eg.Thecapitalmarkethasbeenconstantlyexpandedthroughtheimprovementofthecreditmarket,andthedevelopmentofstockandgovernmentloanmarkets.

在資本市場(chǎng)，通過(guò)完善信貸市嘗發(fā)展股票市場(chǎng)和國(guó)債市場(chǎng)來(lái)不斷使其發(fā)展壯大。

Text:LanguagePointssubsidiary n.of,relatingto,orofthenatureofasubsidy.附屬品

eg.Alackofcorporateinteresthasmadethesubsidiaryanorphan.

因缺乏共同利益，使得這家子公司無(wú)人照管。

Text:LanguagePointsportmanteau n.混成詞branch n.anareaofspecializedskillorknowledge,especiallyacademicorvocational,thatisrelatedtobutseparatefromotherareas部門，分科：具有特殊技能或知識(shí)，尤指學(xué)術(shù)上或職業(yè)上的分區(qū)，與其他分區(qū)相聯(lián)系但又有區(qū)別

eg.Thisbankhasmanybranchesaroundtheworld.

這家銀行在全世界有很多分行。Text:LanguagePointsText:LanguagePointsATM AutomaticTellingMachine自動(dòng)柜員機(jī)Text:LanguagePointsbanknote n.鈔票，紙幣negotiable

a.transferablefromonepersontoanotherbydeliveryorbydeliveryandendorsement:可轉(zhuǎn)讓的：通過(guò)分送或認(rèn)可從一人傳送到另一人的

eg.negotiablecertificatesofdepositmarket

可轉(zhuǎn)讓定期存單市場(chǎng)

non-negotiablecopyofB/L

不可轉(zhuǎn)讓提單Text:LanguagePointsatpar

依照票面價(jià)格,平價(jià),按面值,按票面價(jià)值,按成本,根據(jù)平價(jià)

eg.Weboughtthestockatpar.

我們是按票面價(jià)值買進(jìn)這只股票的。

Thetwocurrencieshavenowreachedparity,i.e.areatpar.

這兩種貨幣現(xiàn)已達(dá)到同等價(jià)值.

Text:LanguagePointsmaturity n.thetimeatwhichanoteorbondisdue(債務(wù)、票據(jù)等的)到期;到期日

eg.Thematuritydateofthisbondis31stDecember,2010.

此債券的到期日是2010年12月31日。Text:LanguagePointssusceptible a.easilyinfluencedoraffected易受影響的

eg.besusceptibleof能...的;容許的

besusceptibleto對(duì)...敏感的;容易受到...Thestatementofthethiefisnotsusceptibleofproof.

那個(gè)小偷的陳述無(wú)從證明。Text:LanguagePoints

Exercises

ParaphrasethefollowingexpressionsorabbreviationsandtranslatethemintoChinese

1.entity 6.atpar2.networth 7.maturity3.underwrite 8.subsidiary4.banknote 9.FRB5.negotiable 10.ATMCheck-upCheck-up

Exercises-Keysentity:somethingthatexistsasaparticularanddiscreteunit經(jīng)濟(jì)實(shí)體networth 資本凈值,凈值underwrite :toassumefinancialresponsibilityfor;guaranteeagainstfailure承擔(dān)財(cái)政責(zé)任；對(duì)破產(chǎn)給予保險(xiǎn)banknote:鈔票，紙幣negotiable :transferablefromonepersontoanotherbydeliveryorbydeliveryandendorsement:可轉(zhuǎn)讓的：通過(guò)分送或認(rèn)可從一人傳送到另一人的

Exercises-Keys6.atpar依照票面價(jià)格,平價(jià),按面值,按票面價(jià)值,按成本,根據(jù)平價(jià)7.maturity:thetimeatwhichanoteorbondisdue(債務(wù)、票據(jù)等的)到期;到期日8.subsidiary:of,relatingto,orofthenatureofasubsidy.附屬品9.FRS:=FederalReserveBoard聯(lián)邦儲(chǔ)備委員會(huì)10.ATM:=AutomaticTellingMachine自動(dòng)柜員機(jī)

ExercisesFillintheblankswiththeproperwordsindividualsInterestcreditprocessborrowingborrowersefficientpurposesavoidedaccepting

Exercis