金融专业英语短语解释汇总版.doc

英语名词解释目录AAnnuity年金It is often described as a mutual fund in an insurance wrapper. It is treated as an insurance product and as a result receives a preferential tax treatment. Specifically, the income and realized gains are not taxable if not withdrawn from the annuity product. It can be either fixed, or variable. Authorized participants拥有许可权的投资者For ETCs, individuals do not deal directly with the provider of the ETF. That privilege is reserved for a few very large investors called authorized participants (AP) who are arbitragers.A spot contract represents a binding commitment for an exchange of funds, with normal settlement and delivery of bank balances following in two business days, or one day in the case of North American currencies(Canadian dollar). In economics and finance, arbitrage is the simultaneous, or nearly simultaneous, purchase of securities(one currency) in one market for sale in another market with the expectation of a risk-free profit. A market maker is a company, or an individual, that quotes both a buy and a sell price in a financial instrument or commodity held in inventory, hoping to make a profit on the bid-offer spread, or turn.In foreign exchange (or FX) trading, where most deals are conducted over-the-counter and are, therefore, completely virtual, the market maker sells to and buys from its clients and is compensated by means of price differentials for the service of providing liquidity, reducing transaction costs and facilitating trade. A Eurobond is an international bond that is denominated in a currency not native to the country where it is issued. Eurobonds are financed by long-term funds in the Eurocurrency markets. They are underwritten by a multinational syndicate of banks and placed in countries other than the one in whose currency they are denominated.A balance sheet: In financial accounting, a balance sheet (or statement of financial position) is a summary of a persons or organizations balances 资产负债表：财务会计，资产负债表（或财务状况表）是一个人或组织的结余摘要 Annuity年金It is often described as a mutual fund in an insurance wrapper. It is treated as an insurance product and as a result receives a preferential tax treatment. Specifically, the income and realized gains are not taxable if not withdrawn from the annuity product. It can be either fixed, or variable. Automatic transfer services自动转账业务：An automatic transfer service account is a deposit account that allows the transfer of funds from a savings account to a checking account in order to cover a check written or to maintain a minimum balance. With this facility in which deposited funds can be automatically transferred, the customers would enjoy a higher degree of convenience without any worry about overdrawing. Simultaneously commercial banks can expand their business.Account receivable financing应收账款融资：A type of asset-financing arrangement in which a company uses its receivables - which is money owed by customers - as collateral in a financing agreement. The company receives an amount that is equal to a reduced value of the receivables pledged. This type of financing helps companies free up capital that is stuck in accounts receivables. Accounts receivable financing transfers the default risk associated with the accounts receivables to the financing company; this transfer of risk can help the company using the financing to shift focus from trying to collect receivables to current business activities. In case of a default, the lender has the right to collect receivables directly from the named debtors of the firm.Asymmetric information信息不对称Investors and managers have uneven access to or uneven possession of information. Agency problem代理问题The firms managers who act as agents for investors, may act in their own interests to the disadvantage of the investors.Asset/Liability management资产/负债管理The nature of the liabilities dictates the investment strategy a financial institution will pursueAbsolute return绝对收益It is simply the return realizedAnnuity年金It is often described as a mutual fund in an insurance wrapper. It is treated as an insurance product and as a result receives a preferential tax treatment. Specifically, the income and realized gains are not taxable if not withdrawn from the annuity product. It can be either fixed, or variable. Administrator - The Administrator is the head of the regulatory body in New Brunswick.BBankassurance 银行保险Insurance companies are attracted by commercial bank customer contacts. As a result, commercial bank distribution of insurance company products has grown considerably.Back-end load后端费用It is imposed at the time fund shares are sold or redeemed.It is a Contingent deferred sales charge (CDSC). This approach imposes a gradually declining load on withdrawal.Breakpoint分界点The sales charge for a fund applies to most, even very small, investments. For large investment, however, the sales charge may be reduced. The amount of investment needed to obtain a reduction in the sales charge is called a breakpoint. Board of directors董事会The role of board of directors is to represent the fund shareholders. The board is composed of both “interested” (or “inside”) directors who are affiliated with the investment company (current or previous management) and “independent” (or “outside”) directors who have no affiliation with the investment company. A majority of the board must be outside directors. BOP: In a general sense, the balance of payments is a statistical statement that systematically records all the economic transactions between residents of a country(Central Government, monetary authority, banks, other sector) and nonresidents for a specific time period.B/L: waybill or consignment note, and receipt (in postal or courier delivery) are collectively known as the transport documents. 提单（bill of lading）：提单或运单，及收据（在邮局或快递公司送达）被统称为运输单证。 Bankers acceptances: A bankers acceptance (or BA) is a short-term credit investment created by a non-financial firm and guaranteed by a bank to make payment in a foreign trade. 银行承兑汇票：一个银行家的接受（或BA）是一个短期的信贷投入创造了一个非金融公司和银行担保，使在外国贸易支付。 Bankassurance 银行保险Insurance companies are attracted by commercial bank customer contacts. As a result, commercial bank distribution of insurance company products has grown considerably.Bankers acceptance银行承兑汇票：A bankers acceptance, or BA, is a time draft drawn on and accepted by a bank. Upon acceptance, which occurs when an authorized bank employee stamps the draft accepted and signs it, the draft becomes a primary and unconditional liability of the bank. If the bank is well known and enjoys a good reputation, the accepted draft may be readily sold in an active market.Bond interest rate债券利率：Bond interest rate is the rate paid by government, banks and corporations when they raise funds in domestic or international financial market by issuing bonds.Bank notes银行券：A banknote (often known as a bill, paper money or simply a note) is a kind of negotiable instrument, a promissory note made by a bank payable to the bearer on demand, used as money, and in many jurisdictions is legal tender. Along with coins, banknotes make up the cash or bearer forms of all modern fiat money.Barter 以物易物,物物交换exchange goods（property and etc.）for other goods （property and etc.）barter wheat for oil 用小麦交换原油barter with sb. forsth. 向某人交换某物barter away ones rights (honor, freedom) 为某人的利益出卖自己的权利(名誉、自由)barter agreement 易货协定barter system 易货贸易制barter arrangement 易货安排barter transaction 易货交易barter trade 易货贸易barter exchange 易货交易barter business 易货业务Banking and monetary regulation银行与货币监管Authorities use it to try to control changes in a countrys money supply, which is thought to control the level of economic activity.Bank guarantee - A bank guarantee is the banks promise to repay the debt of another person if that person does not pay the debt.Bonds - A bond is a certificate which shows a debt. The issuer of the bond promises to pay the holder a specific amount of interest for a specific length of time. On the maturity date, the loan is repaid. The assets of a corporation are pledged as security for the loan. Bonds are issued by corporations and federal, provincial and municipal governments. If a company is liquidated, bond holders can claim any company assets before shareholders.B/L: waybill or consignment note, and receipt (in postal or courier delivery) are collectively known as the transport documents.Bankers acceptances: A bankers acceptance (or BA) is a short-term credit investment created by a non-financial firm and guaranteed by a bank to make payment in a foreign trade.A balance sheet: In financial accounting, a balance sheet (or statement of financial position) is a summary of a persons or organizations balancesThe structure and main items of balance sheet1. Assets: In business and accounting, assets are everything owned by a person or company that can be converted into cash. Includes Current assets and Long-term assets. The current assets include cash, Cash equivalents, Account receivable, Inventory. The long-term assets include tangible and intangible2. Liabilities: Liabilities are financial debts of a company to their outside clients. Includes Current liabilities and Long-term liabilities.3. Owners equity: In business and accounting, after all liabilities are paid, ownership equity is the remaining interest in assets. Includes Capital and Retained earning and Net worth.CClosed-End Funds 封闭式基金The shares of a closed-end fund are very similar to the shares of common stock of a corporation. The new shares of a closed-end fund are initially issued by an underwriter for the fund.Creation/redemption units认购/赎回单位交易Authorized participants are mainly large institutional traders who have contractual agreements with ETF funds.They are the only investors who may create or redeem shares of an ETF with the ETF sponsor and then only in large, specified quantities called creation/redemption units. Cash balance plan现金余额计划A cash balance plan is basically a defined benefit that has some of the features of a defined contribution plan. It defines future pension benefits, not employer contributions.Each participant in a cash balance plan has an account that is credited贷方 with a dollar amount that resembles an employer contribution and is generally determined as a percentage of pay. The plan usually provides benefits in the form of a lump-sum付清 distribution in an annuity. Interest is credited to the employees account at a rate specifiedCovered interest arbitrage is the investment strategy where an investor buys a financial instrument denominated in a foreign currency, and hedges his foreign exchange risk by selling a forward contract in the amount of the proceeds of the investment back into his base currency.Convertibility is the quality that allows money or other financial instruments to be converted into other liquid stores of value. Convertibility is an important factor in international trade, where instruments valued in different currencies must be exchangedCommercial banks: is a type of financial intermediary. It offers both commercial and investment banking services for individual and business, such as deposits, credit cards, loans, trusts, mutual funds, treasury bills, insurances and so on. 商业银行：是一种金融中介机构的类型。它为个人和企业的商业和投资银行服务，如存款，信用卡，贷款，信托，互惠基金，国库券，保险等。 Checking accounts: A checking account is convenience; it can be used in place of cash to make payments as ATM cards or each electronic debit cards. 支票帐户：支票存款帐户是方便，它可用于现金的地方，使每一个在ATM卡或电子借记卡付款。 Commercial paper: Commercial papers are unsecured, short-term loans. Only high credit rating and credit worthiness corporations have credit to issue commercial papers. 商业票据：商业本票为无抵押，短期贷款。只有高信用评级和信用企业的信贷发行商业票据。 Core Capital核心资本金Tier 1 CapitalIt consists of common stockholders equity, certain types of preferred stock, and minority interest in consolidated subsidiariesCorporate credit unions 公司信用合作社Provide a variety of investment services, as well as payment systems, only to natural person credit unionsCentral bank discount rate中央银行贴现率：The central bank discount rate refers to the rate of interest paid by commercial banks when they rediscount their financial instruments in central banks. It is expressed in terms of a certain repurchase rate of face value of the notes on rediscount.Certain goods with a ready market随时可以卖出的商品：A ready market should be a market situation in which certain goods are well sold. In other words it is not difficult to sell the goods any time in any volume.When some goods have a ready market they are in possession of a general acceptability. That means all people believe that the goods could be traded whenever with whatever goods.Usually such goods with a ready market were used as the medium of exchanges in the early time.Commodity money商品货币：Commodity money is the earliest form of money which has an intrinsic value, meaning it is worth something in its own right rather than simply being a token of financial value such as a banknote. Check-clearing支票清算：Movement of a check from the bank in which it was deposited to the bank on which it was drawn, and the movement of its face amount in the opposite direction. This process (called clearing cycle) normally results in a credit to the account at the bank of deposit, and an equivalent debit to the account at the bank on which it was drawn. Also called clearing.Checking account支票账户：It is a deposit account held at a bank or other financial institution which allows the holder to write checks against deposited funds. It is also termed as a transactional account or current account. Correspondent balance往来账户余额：In financial business the term balance stands for the amount of money in an account, equal to the net of credits and debits at that point in time for that account. also called account balance.Correspondent balance refers to the net credits and debits for the correspondent accounts which are opened by the relevant correspondent banks.Curb exchanges场外交易：The word curb means a concrete border or row of joined stones forming part of a gutter along the edge of a street.Credit balance贷方余额：Credit balance: In a margin account, the credit balance is the amount of funds deposited in the customers account following the successful execution of a short sale order.Country risk 国别风险：Probability of loss due to economic and/or political instability in the buyers country, resulting in an inability to pay for imports. Country risk includes sovereign risk.Commercial or documentary L/C 商业/跟单信用证：The technical term for Letter of credit is Documentary Credit. At the very outset one must understand is that Letters of credit deal in documents, not goods. The idea in an international trade transaction is to shift the risk from the actual buyer to a bank. Thus a LC (as it is commonly referred to) is a payment undertaking given by a bank to the seller and is issued on behalf of the applicant i.e. the buyer. The Buyer is the Applicant and the Seller is the Beneficiary. The Bank that issues the LC is referred to as the Issuing Bank which is generally in the country of the Buyer. The Bank that Advises the LC to the Seller is called the Advising Bank which is generally in the country of the Seller.The specified bank makes the payment upon the successful presentation of the required documents by the seller within the specified time frame. Note that the Bank scrutinizes the “documents” and not the “goods” for making payment. Thus the process works both in favor of both the buyer and the seller. The Seller gets assured that if documents are presented on time and in the way that they have been requested on the LC the payment will be made and Buyer on the other hand is assured that the bank will thoroughly examine these presented documents and ensure that they meet the terms and conditions stipulated in the LC.Confirmed irrevocable L/C 保兑的不可撤销信用证：An L/C that adds the endorsement of a sellers bank to that of the buyers bank. It provides the highest level of protection to the seller because not only the L/C cannot be canceled (or its terms changed) unilaterally by the buyer, but also both banks involved in the transaction to guarantee its payment on its due(maturity) date.Collateral抵押品：Specific asset (such as land or building) pledged as a secondary or subordinate security by a borrower or guarantor. The principal security is usually the borrowers personal guaranty, or the cash flow of a business. Except for highly creditworthy customers (who can get loans against only their signatures) lenders always demand a collateral if the primary security is not considered to be reliable or sufficient enough to recover the loan in case of a default. Lenders have the legal right to seize and sell a collateral if the borrower cannot pay back the loan as agreed.Core Capital核心资本金Tier 1 CapitalIt consists of common stockholders equity, certain types of preferred stock, and minority interest in consolidated subsidiariesCorporate credit unions 公司信用合作社Provide a variety of investment services, as well as payment systems, only to natural person credit unionsCorporate restructuring hedge fund公司重组型对冲基金It is one in which the asset manager positions the portfolio to capitalize on the anticipated impact of a significant corporate event. These events include a merger, acquisition, or bankruptcy Convergence trading hedge fund收敛交易型对冲基金It uses a strategy to take advantage of misalignment of prices or yields, an arbitrage strategy.technically, arbitrage means riskless profit. Some strategies used by hedge funds do not really involve no risk, but instead low risk strategies of price misalignments误差Counterparty risk交易对手违约风险It is the risk that a counterparty in a trade fails to satisfy its obligation Credit risk信用风险It is the risk that the obligor of a financial instrumen