《金融英语听说》Unit3.doc

Unit 3Lending BusinessI Warm-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 security for 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 risk can pose a significant threat to a banks 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 banks 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。有些关于美国银行破产的新闻。银行的经营似乎容易受到某些风险的影响。女： 是。过度的利率风险会威胁到银行的收益和资本基础。男： 你知道利率风险的准确含义吗？女： 几句话很难说清楚。让我想想，嗯。一般来说，利率风险产生于附息资产，如贷款或债券的价格变化，其价格因利率的上下浮动而变化。当利率上升时，固定利率债券的价格就下跌。当利率下跌时，这些债券的价格就上涨。男： 所以对于银行来说，控制利率风险的任务是至关重要的，因为利率的变化会影响到银行的附息资产的价值。女： 对。但有时不是一家银行可以控制局面的。Dialog 2 M: Professor Wang, would you tell me what would happen if a bank hadinadequate liquidity?W: There will be dire consequences, I think. You know that liquidity is aprime concern in banking operation and a shortage of liquidity has oftenbeen a trigger for bank failures. However, holding assets in a highly liquid form tends to reduce the income from that asset.M: It is known that cash is the most liquid asset.W: Exactly. Cash is liquid but pays no interest. So banks usually try to reduce liquid assets as far as possible. Without sufficient liquidity to meet the demands of their depositors, nevertheless, a bank would experience the risk of a bank run.Question: Which of the following is the key reason that liquidity is a prime concern in banking operation according to the conversation? (B)译文 男： 王教授，请问假如银行流动资产不足，会怎么样呢？女： 我认为后果会很严重。你知道资产变现能力是银行经营重点关注的问题，流动资产匮乏往往是银行倒闭的导火索。但是，持有流动性过高的资产可能减少资产的收入。男： 众所周知，现金是流动性最高的资产。女： 确实如此。现金的流动性高但不获利。所以银行会尽可能地减少流动资产的持有量。但是，如果银行没有足够的流动资产去满足储户的要求，就会遭受储户挤兑的风险。Dialog 3 M: Lin, our teacher told us today that all the loans made by a commercial bank will be classified into five catalogs: normal, observational, inferior, questionable, and losing. Now, I want to know how to determine which catalog one loan goes to. Would you tell me about it?W: Well, it is not an easy job. But it is necessary for the credit risk analysis. As far as I know, the credit risk classification is made according to the repayment capacity of the borrower. If a loan is classified as inferior, questionable or losing, it is said to be a bad loan. The bank will be required to prepare bad loan reserve and the banking regulators will do something for the loan.M: I see that it is a measure to prevent credit risk.Question: What is implied if a loan is classified as an observational one? (D)译文 男： 林，老师今天告诉我们说商业银行的贷款都会分为五类：正常、关注、次级、可疑和损失。现在我想知道如何确定一笔贷款的类别。你能给我讲讲吗？女： 哦，这不是个简单的事情。但对于信用风险分析是必要的。据我所知，信用风险分类是按照借款人的还款能力确定的。假如一笔贷款被确定为次级、可疑或损失，那么就属于不良贷款。银行就要预备一笔不良贷款准备金，银行管理人员就有事可做了。男： 我知道，这是防范信用风险的措施。Dialog 4 M: Diana, what do you think of the subprime mess in the United States?W: Ive heard of the word hundreds of times these days. As far as I know, it is one of the huge risks caused by hedge funds, and the conflicts of interest have led a lot of banks and companies, especially investment banks into trouble. They are all the consequences of financial deregulation. Some people commented that they would reverse field in time to prevent another 1929.M: Some economic strategy has attracted a lot of criticism recently. They have come into force in the name of free-market efficiency. People criticized that some policies have replaced real productive innovation with financial engineering and shifted wealth from families to corporations, and put the entire American economy at ever greater risk.Question: What are they talking about? (B)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。For Referencehedge fund: 对冲基金（也称避险基金或套利基金）意为“风险对冲过的基金”，起源于50年代初的美国。其操作宗旨是利用期货、期权等金融衍生产品以及对相关联的不同股票进行实买空卖、风险对冲的操作技巧，在一定程度上规避和化解投资风险。世界上第一个有限合作制的琼斯对冲基金诞生于1949年。20世纪80年代，随着金融自由化的发展，对冲基金才有了更广阔的投资机会，从此进入了快速发展的阶段。到90年代，由于世界通货膨胀的威胁逐渐减少，同时金融工具日趋成熟和多样化，对冲基金进入了蓬勃发展的阶段。据英国经济学人的统计，从1990年到2000年，3000多个新的对冲基金在美国和英国出现。2002年后，对冲基金的收益率有所下降，但对冲基金的规模依然不小，据英国金融时报2005年10月22日报道，截至目前为止，全球对冲基金总资产额已经达到1.1万亿美元。deregulation n. 撤消管制engineer vt. 图谋，操纵，巧妙地处理Task 2 Short Answer QuestionsListen carefully and answer the question after each dialog.Scripts & AnswersDialog 1 M: Good news, guys. Ive got my loan proposal granted.W: Congratulations. But be sure that you can get enough money to repay the 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. Ill of course repay it on time because I have a veryrational repayment plan and a good job.Question: What will happen if a borrower could not repay the loan to the lending bank?The bank will sell the mortgaged house and the payment will be used to repay the loan.译文 男： 好消息，伙计们。我的贷款申请通过了。女： 祝贺你。但你要保证你有足够的钱偿还到期贷款。男： 如果还不上会怎么样？女： 银行会把你抵押的房子卖掉，所得的房款用来归还贷款。男： 哦，太可怕了。我肯定会按时还款，因为我有很合理的还款计划和很好的工作。Dialog 2 W: Hey, do you member that the teacher told us that there are 5 Ps to be considered while handling a loan proposal?M: Yes, they are critical factors for a manager of the credit department tomake correct assessment of the credit risks.W: What are the 5 Ps? People, Purpose, Payment, and ?M: And Protection and Perspective.W: Right. It is easy to get the meaning of the first three Ps, but the last two Ps are difficult to understand.Question: What are the 5 Ps?People, Purpose, Payment, Protection and Perspective.译文 女： 嗨，你记得老师说过收到贷款申请后，必须考虑5 个P 么？男： 对。这是信贷部经理进行正确的信贷风险评估时要考虑的关键因素。女： 什么是5 个P? 借款人、借款用途、还款计划、还有？男： 还有还款保障和还款风险预测。女： 对了。前3 个P 很容易理解，后两个比较费解。Dialog 3 W: Excuse me, would you please tell me how many types of personal housing loans are offered by your bank CCB?M: It is a pleasure. CCB offers many types of personal housing loans,including personal second-hand housing loans, personal commercial space purchase loans, individual housing loans at fixed interest rates, personalhousing mixed loans, individual housing provident fund loans and personal mortgage loans.W: What is an individual housing provident fund loan? I dont understand the meaning of “housing provident fund”.M: Its a special type of personal housing loan designed for those whohave deposited a percentage of their income in their individual housingprovident fund account, and when they need money to buy a house, theycan apply for it at a prime rate of interest.Question: How many types of personal housing loans are mentioned in the conversation and what are they?Six types. They are personal second-hand housing loans, personal commercial space purchase loans, individual housing loans at fixed interest rates, personalhousing mixed loans, individual housing provident fund loans and personal mortgage loans.译文 女： 打扰一下，你能告诉我你们建行提供的个人住房贷款有几种么？男： 很乐意。建行提供多种个人住房贷款，包括个人二手房贷款、个人商用房屋贷款、个人固定利率房屋贷款、个人房屋混合贷款、个人公积金购房贷款、个人房屋抵押贷款。女： 什么叫个人住房公积金贷款？我不明白“住房公积金”是什么意思。男： 这是一种特殊形式的个人住房贷款。人们首先把收入的一部分存入其个人公积金账户，当他们需要贷款买房时，可以按优惠利率申请这种贷款。Task 3 Listening and SimulatingListen to the dialogs and fill in the blanks with what youve heard, and then simulate the dialogs in pairs.Scripts & AnswersDialog 1 M: Morning, Madam. Im going to apply for a loan. I dont know the conditions for a loan and the documents to be prepared for the application.W: Could you tell me your purpose of the loan?M: I want to buy a car.W: Oh, well, youd better apply for an auto loan. I think youre satisfied with the loan conditions because you have a good social status and make a good salary. You just bring with you the documents such as your ID card, a certificate of employment, a certificate of income and make a credible repayment plan.译文 男： 早上好，女士。我准备申请贷款。不知道申请贷款要什么条件和应该准备哪些文件？女： 你能告诉我你为什么申请贷款吗？男： 我想买车。女： 哦，你最好申请汽车贷款。我觉得你符合贷款条件，因为你有很好的社会地位和高薪工作。你只需带上身份证、工作证、收入证明，做一份可信的还款计划就可以了。Dialog 2 M: Ah, I understand that banks face many types of risk. The U.S. subprime crisis is an example.W: You are right. The major type of risk is called credit risk.M: I see eye to eye with you on it. Credit risk is the risk of loss due to adebtors non-payment of a loan or other lines of credit. If a bank wasinvolved in the credit risk, it could not get back the loans from someclients. Some people may not have sound creditworthiness or they arereally in trouble and not able to repay the money.W: So banks must have some measures to prevent the risks.译文 男： 嗯，我明白银行面临着很多风险。美国的次贷危机就是例子。女： 你说得对。主要的风险是信用风险。男： 我完全同意。信用风险就是因为债务人拒绝偿还贷款或别的信用额度而产生损失的风险。假如银行遭遇信用风险，他们就无法从某些客户那里收回贷款。可能有些人的信用度不高，或者他们真的有困难，不能还款。女： 所以银行必须有防范风险的措施。Useful ExpressionI see eye to eye with you on it. 我完全同意。Dialog 3 W: Excuse me, I am told that your bank provides personal consumer durables loans for those who are prepared to buy some expensive domestic fixtures, such as computers, washing machines, fridges, air conditions, and so on.Would you please tell me the qualification for such a loan?M: It is my pleasure. Our target clients for the personal consumer durables loans are Chinese citizens aged between 18 and 60 years with full legalcapability.W: Well, I think Im qualified for the loan, but how to apply for it?M: Frankly speaking, it is very simple to apply for a personal consumer durables loan. Here is the leaflet on step-by-step guide of the loan application. Please read it and prepare all the documents required and fill in the application form.译文 女： 打扰一下，听说你们银行为那些打算购买贵重家电的人提供个人耐用品贷款，比如买计算机、洗衣机、冰箱、空调等，你能告诉我这种贷款的申请资格吗？男： 很乐意。我们的目标客户是凡年满18 周岁至60 周岁，并且具有完全法律行为能力的中国公民。女： 哦，我想，我有资格申请。但怎么申请呢？男： 坦率地说，申请个人耐用消费品贷款很简单。这是有关贷款申请步骤的宣传单。请阅读后，按要求准备好需要的文件，并填写这份申请表。III Long ConversationsConversation 1 Apply for an Auto LoanTask 1 Previewing1. Discuss in pairs and answer the following questions.Answers for Reference1. What do you know about auto loans?Commercial banks offer personal auto loans in RMB to individuals to help financingauto purchases. The interest rate on auto loans will be set according to the banks regulations.2. How much do you think will be granted for a personal auto loan proposal?If the purchased automobile is for self-use, the line of credit shall not exceed 80% ofthe purchase price. And the term of the loan shall not exceed 5 years at maximum.3. What can be used as security or collateral for personal auto loans?The purchased autos or any other property may be used as security or collateral and third-party guarantees are required.2. Translate the following English into Chinese.Answers for ReferenceChinese Englisha rate of 6.78% per annum 6.78%的年利率by equal monthly instalments按月等额分期付款third-party guarantee第三方担保collateral抵押品mortgaged house抵押的房屋account balance账户余额freeze an account冻结账户pledge-backed property质押的财产credit record信用记录Task 2 Multiple ChoiceListen to the conversation carefully and choose the best answer to each of the following questions.Scripts & AnswersW: Hello, Mr. Smith. Please have a seat. What can I do for you today?M: I want to borrow some money to buy a car. A friend of mine, Jack Richardson, bought a new car last week. He told me that he got his loan here.W: Oh, yes. I remember him. I was the loan officer who attended to the business for him.M: He said that you were very helpful. I know very little about loans and I hope you can introduce them to me.W: No problem. What questions do you have?M: First, I want to know if loans for buying cars are commercial loans or personal loans.W: Neither, Mr. Smith, theyre auto loans. Commercial loans are the loans extended to businesses. Personal loans are made to individuals, but not for buying cars.M: Thank you! Got it. But how much money can I get for an auto loan?W: Im afraid you should tell me your use of the car first.M: For personal use. Is there any difference?W: Yes. If you use the loan to purchase automobiles for personal use, you may borrow up to80% of the purchase price.M: Wonderful. What about the interest rate?W: The current rate is 6.78% per annum. It is a floating rate, you know.M: Whats the term of the loan?W: The term of the loan shall not exceed 3 years. How do you plan to repay the loan, by instalments or in a lump sum?M: I want to repay the loan by monthly instalments, equally, of course.W: OK. How much money do you need for the loan?M: 80% of the purchase price of the car, er, that is RMB 80,000 yuan. But do you need any guarantee for the loan?W: That is exactly what Im going to tell you. To apply for personal auto loans, you need to provide guarantee, such as pledge-backed property, mortgaged autos that you purchase, mortgaged houses, or third-party guarantees.M: Third-party guarantee?W: Absolutely. Besides, well also check your credit record to make sure that you always paidback your loans in the past. Excuse me, do you have any current account with our bank?M: Yes, we have a RMB current account as well as a USD time deposit with your bank.W: What is the average balance of your current account?M: About a 4-digit number. Oh, yes, I want to use my USD time deposit as the collateral. The account balance is $20,000 and the term is 5 years. The money is saved for my daughter. Ill send her to study abroad. Is it all right?W: Thats very good. I think there will be no problem. But I have to tell you that the account would be frozen during the period of the loan. Is there any problem?M: No problem.W: All right. Now what you need to do is to fill out this application form and prepare your documents.M: Thank you very much. Ill start right now.Questions 1 to 5 are based on the conversation you have just heard.(A) 1. What are they talking about?(C) 2. What kind of loan will the customer get from the bank?(A) 3. What is the current rate of interest on auto loans?(B) 4. What will be used as collateral by the customer?(A) 5. What should the customer do first if he applies for the loan?Task 3 Short Answer QuestionsListen to the conversation again and answer the following questions.Answer for Reference1. For what purpose does the man apply for a loan?He wants to buy a car.2. What is the credit line on auto loans for personal usage?Up to 80% of the purchase price.3. How much does the man want to borrow from the bank?RMB 80,000 yuan.4. What will happen to his deposit account when it is used as collateral for the loan?The account would be frozen during the period of the loan.译文 女： 你好！史密斯先生。请坐。今天要办什么业务？男： 我要贷款买辆车。我的朋友杰克理查森上周买了新车。他告诉我是在你这里办的贷款。女： 哦，是的。我记得他。我就是负责处理这笔贷款的工作人员。男： 他说你给予了很大的帮助。关于贷款我知道得很少。希望你能够给我介绍一下。女： 没问题。你有些什么问题？男： 首先，我想知道买车的贷款属于商业贷款还是个人贷款？女： 都不是，史密斯先生，是汽车贷款。商业贷款指为企业提供的贷款。个人贷款是对针对个人的，但不是用来买车的。男：