金融学FINANCE 词汇表1.doc

FINANCE词汇表1PART 1Surplus units：盈余方Deficit units：赤字方Money markets：货币市场Capital markets：资本市场Primary markets：初级市场（一级市场）Secondary markets：二级市场Liquidity：流动性Organized exchange：交易所市场Financial market：金融市场Over-the-counter (OTC) market：场外交易市场Money market securities：货币市场工具Capital market securities：资本市场工具Derivative securities：衍生工具Privatization：私有化Foreign exchange market：外汇市场Perfect market：有效市场Imperfect market：无效市场Money market mutual funds：货币市场共同基金Broker：经纪人Spread：差价Bid quotes：买入报价Underwrite：承销Dealers：自营商Real interest rate：实际利率PART 2 Investment-grade bonds：投资级债券Term structure of interest rates：利率的期限结构Convertible clause：可转换条款Federal Reserve district bank：联邦储备银行Board of Governors：美联储理事会（联邦储备委员会）Discount rate：再贴现率Federal Open Market Committee(FOMC)：联邦公开市场委员会Trading Desk(Open Market Desk)：交易柜台（公开市场柜台）Policy directive：政策指示Open market operations：公开市场操作Repurchase agreement：回购协议Dynamic open market operation：主动型公开市场操作Defensive open market operation：防御型公开市场操作Reserve requirement ratio：法定存款准备金比率Money market deposit account：货币市场存款账户Depository Institutions Deregulation and Monetary Control Act(DIDMCA)：存款机构放松管制与货币控制法案Keynesian theory：凯恩斯理论Demand-pull inflation：需求拉动型通货膨胀Monetarists：货币主义者Modern quantity theory of money：现代货币数量理论Theory of rational expectations：理性预期理论Phillips curve：菲利普斯曲线Recognition lag：认知时滞Implementation lag：执行时滞Impact lag：作用时滞Monetizing the debt：债务货币化Global crowding out：全球挤出效应PART 3Commercial paper：商业票据Junk commercial paper：垃圾商业票据Negotiable certificates of deposit (NCDS)：大额可转让定期存单Reverse repo：逆回购Federal funds rate：联邦基金利率Bankers acceptance：银行承兑汇票Letter of credit(L/C)：信用证Eurodollar certificates of deposit：欧洲美元存单Eurodollar market：欧洲美元市场 Eurodollar floating-rate CDS(FRCDS)：欧洲美元浮动利率存单Eurocurrency market：欧洲货币市场Eurobanks：欧洲银行Eurocredit market：欧洲信贷市场Euronotes：欧洲本票Euro-commercial paper(euro-CP)：欧洲商业票据Effective yield：有效收益率Bearer bonds：不记名债券Registered bonds：记名债券Yield to maturity：到期收益率Stripped securities：剥离债券（分割债券）Government National Mortgage Association(Ginnie Mea)：政府国民抵押贷款协会Federal National Mortgage Association(Fannie Mae)：联邦国民抵押贷款协会General obligation bonds：一般责任债券Revenue bonds：收益债券Corporate bonds：公司债券Indenture：契约Trustee：受托人Sinking-fund provision：偿债基金条款Call provision：赎回条款Call premium：赎回溢价First mortgage bond：优先抵押债券Chattel mortgage bond：动产抵押债券Debentured：信用债券Subordinated debentures：次级信用债券Low-coupon and zero-coupon bonds：低息和零息债券Variable-rate bonds：浮动利率债券Market order：市价委托Limit order：限价委托Junk bonds：垃圾债券Contagion effects：传染效应Global junk bonds：全球垃圾债券Present value interest factors：贴现因子Annuity：年金Fixed-rate mortgage：固定利率抵押贷款Adjustable-rate mortgage(ARM)：可调整利率抵押贷款Balloon-payment mortgage：Amortization schedule：分期付款偿还表Graduated-payment mortgage：渐进偿付抵押贷款Growing-equity mortgage：权益增长抵押贷款Shared-appreciation mortgage：分享增值抵押贷款Securitization：贷款证券化Prepayment risk：提前偿付风险Mortgage pass-through securities：抵押支持转手证券Participation certificates(PCs)：参与凭证Collateralized mortgage obligation(CMOs)：抵押担保债务证券National Association of Securities Dealers Automatic Quotations(Nasdaq)：全美证券交易商协会自动报价系统Antitakeover amendments：反收购修正案PART 4Market microstructure：市场微观结构Margin requirement：保证金要求Margin account：保证金账户Maintenance margin：维持保证金Initial margin：初始保证金Margin call：追加保证金Short selling：卖空Exchange-traded funds(ETFs)：交易所交易基金Financial future contract：金融期货合约Interest rate future：利率期货Stock index futures：股票指数期货 Commission brokers：场内经纪人Floor traders（Locals）：场内交易商Speculators：投机者Hedgers：套期保值者Day traders：即期交易商Position traders：远期交易商Short hedge：空头套期保值Basis：基差Cross-hedging：交叉套期保值Long hedge：多头套期保值Net exposure：净暴露Municipal Bond Index(MBI) futures：市政债券指数期货Bond buyer index：债券买入者指数Dynamic asset allocation：动态资产配置Index arbitrage：指数套利Arbitrageurs：套利者Circuit breakers：断路器Market risk：市场风险Basis risk：基差风险Liquidity risk：流动性风险Credit risk：信用风险Operational risk：操作风险Systemic risk：系统风险Currency futures contract：货币期货合约Call option：看涨期权Exercise price(strike price)：执行价格（敲定价格/履约价格）Spot 现货Spot price 现货价格Writer：期权合约的卖方Writer-off 冲销In the money：实值At the money：两平Out of the money：虚值Put option：看跌期权Covered call：有保护看涨期权Stock index option：股票指数期权Long-term equity anticipations(LEAPs)：长期期权Currency call option：货币看涨期权Currency put option：货币看跌期权PART 5Interest rate swap：利率互换Plain vanilla swap：普通互换（固定-浮动利率互换）Forward swap：远期互换Swap option (swaptions)：互换期权Callable swap：可赎回互换Putable swap：可退卖互换Extendable swap：可延期互换Zero-coupon-for-floating swap：零息互换Rate-capped swap：利率上限互换Equity swap：股权互换Sovereign risk：政治风险Interest rate cap：利率上限Interest rate floor：利率下限Interest rate collar：利率双限Currency swap：货币互换Foreign exchange derivatives：外汇衍生产品Spot exchange rate：即期汇率Forward rates：远期汇率Bretton Woods era：布雷顿森林体系Smithsonian Agreement：史密森协定Dirty float：肮脏浮动Freely floating system：自由浮动制度Appreciate：升值Depreciate：贬值Purchasing power parity(PPP)：购买力平价说Techni