金融英语-2-banking省公开课金奖全国赛课一等奖微课获奖

Part2Banking2.1Financialinstitutions2.2Personalbanking2.3Commercialandretailbanking2.4Investmentbanking2.5Centralbanking2.6Islamicbanking2.7Interestrate2.8Moneymarket2.9Moneysupplyandcontrol1/472.1FinancialinstitutionsInthe20thcentury,mostbanksarespecializedinthefollowingareas:Retailbanks(零售银行)orcommercialbanks（商业银行）;Investmentbanks（投资银行）;Insurancecompanies（保险企业）;Buildingsocieties（建房互助协会）=savingsandloansassociations（储蓄贷款协会）.Makeloans,receivedepositsGivefinancialadvice;Raisecapital;OrganizemergersandtakeoverbidsSpecializedinmortgages2/47DeregulationIn1980sand90s,thefinancialindustrychangedradicallybecauseofthederegulation(缩小国家对经济干预范围).Beforederegulation,commercialbanksinUS,BritainandJapanwasforbiddentodoinvestmentbankingbusiness.Today,manyinternationalconglomerates（大集团）offeracompleterangeoffinancialservicestosatisfyallfinancialneeds.3/47Specializedbanks（专业银行）Centralbanks（中央银行）:issuecurrencyandcarryoutthegovernment’sfinancialpolicy.Privatebanks（私人银行）:managetheassetsofrichpeopleorhighnetworthindividuals.Clearingbanks（清算银行）:passchequesandotherpaymentsthroughthebankingsystem.Non-bankfinancialintermediaries（非银行金融中介）:offerproductslikepersonalloans,creditcardsandinsurance,suchascarmanufacturers,departmentstores.4/47Exercises:whichtypesofbanksdothefollowingbelongto?1.ThefederalreservewasfoundedbyCongressin1931toprovidethenationwithasafer,moreflexible,andmorestablemonetaryandfinancialsystem.2.Weprovideafullrangeofproductsandservices,includingadvisingoncorporatestrategyandstructure,andraisingcapitalinequityanddebtmarkets.5/473.Howcanwehelpyou?wecan:Buildalong-term,one-to-onerelationshipwithyourbanker.Manageyourfamily’sdiversebusinessandpersonalassets.Buildaportfoliotailoredtoyourfamily’suniqueneeds.Plananactiveroleinmanagingyourassets.6/474.Nearlytwelvemillionchequesandcreditspassthroughthesystemeachworkingday.Chequevolumesreachedapeakin1990butusagehasfallensincethen,mainlyowingtoincreaseduseofplasticcardsanddirectdebitsbypersonalcustomers.7/475.whybankwithus?Becauseweoffer:Acomprehensiverangeofaccountsandservices.Over1600branches,manywithSaturdayopening.Freewithdrawalsfromover31000cashmachines.Onlineandtelephonebankingforround-the-clockaccesstoyouraccounts.8/472.2Personalbanking2.2.1currentaccounts经常账户Currentaccounts=checkingaccounts,allowcustomerstotakeoutorwithdraw（取出）moneyfreelywithalowerrateofinterest.Savingsaccount=depositaccount（储蓄账户）,paymoreinterestbuthaverestrictiononwhenyoucanwithdrawyourmoney.Banksusuallysendmonthlystatementslistingrecentsumsofmoneygoingout,calleddebits（借方）,andsumsofmoneycomingin,calledcredits（贷方）9/47Debitcard（借记卡）:makewithdrawalsanddoothertransactionsatATM(AutomaticTellerMachine,自动提款机)Creditcard（贷记卡，信用卡）

:beusedforbuyinggoodsandservicesandborrowingmoney.Insomecountries,peoplepaybillswithchequeorbanktransfer（银行转帐）.cheque=check,ATM=cashdispenser=cashmachine10/472.2.2BankingproductsandservicesCommercialbanksofferloans,overdraft（透支）forsmallsumsofmoney;banksalsooffermortgagestopeoplewhowanttobuyahouseorflat.Thesearelong-termloansonwhichthepropertyactsascollateral（抵押品）oraguaranteeforthebank.Iftheborrowercan’trepaythemortgage,thebankcanrepossess（收回）it.11/47Banksexchangeforeigncurrency（外币）forpeoplegoingabroad,andselltraveler’scheques（旅行支票）.Banksalsoofferadviceaboutinvestmentsandprivatepensionplans（个人养老金计划）-savingmoneyforwhenyouretirefromwork.12/472.2.3E-bankingInthe1990s,manycommercialbanksthoughtthefuturewouldbeintelephonebanking（电话银行）andinternetbankingore-banking（网上银行）.Asamatteroffact,mostoftheircustomerspreferredtogotobranches（分支机构）---localofficesofthebank–especiallyonesthathadlongeropeninghours（营业时间）,andwereconvenientlysituated.13/472.3Commercialandretailbanking2.3.1commercialandretailbanksWhenpeoplehaveextramoney,theymaychoosetodeposit（存放）itinabankaccount,atacommercialorretailbank,andthebankpaysinteresttothedepositors（存款者）.Thebankthenusesthemoneythathasbeendepositedtograntloans（发放贷款）.Banksmakeaprofitbychargingahigherrateofinteresttoborrowersthantheypaytodepositors.14/472.3.2creditBanksalsocreatecredit（创造信用）-makemoneyavailableforsomeonetoborrow.Thecapitalabankhasandtheloansithasmadeareitsassets.Thecustomers’depositsareliabilitiesbecausethemoneyisowedtosomeoneelse.Bankshavetokeepacertainpercentageoftheirassetsasreserves（存款准备金）,whichisknownasthereserverequirement（准备金要求）.15/472.3.3loansandrisksBeforelendingmoney,abankhastoassess(评定)

orcalculatetheriskinvolved.Mostretailbankshavestandardizedproducts（标准化产品）

forpersonalcustomers（个人客户）,suchaspersonalloans（个人贷款）,whichhasthesametermsandconditions(条款).16/47Forcorporatecustomers（企业客户）,bankshavemorecomplicatedriskassessment（风险评定）.Bankshavetofindabalancebetweenliquidity（流动性）anddifferentmaturities（到期日）.Theyalsohavetobalanceyield（收益）

andrisk.17/47Exercises:1.Ifyouneedinstantaccesstoallyourmoney,thisisthebankaccountforyou.2.Ourproductsforcorporate

customersincludebusinessoverdrafts,loanrepaymentsthatreflectyourcashflow,andcommercialmortgage.18/473.Ourlocalbranchmanagersareencouragedtohelplocalbusinessesandareauthorizedtogrant

loansandoverdrafts.4.Weofferstandardizedloans:youcanbesureyouwon’tgetlessfavorabletermsandconditionsthanourotherpersonal

customers.19/472.4Investmentbanking2.4.1Raisingcapital筹集资金Investmentbanksactasintermediaries（中介）,helpcompaniesandgovernmentsraisecapitalbyissuingsecurities（发行有价证券）suchasstocksandbonds,andoftenunderwrite（认购、包销）securitiesissues.20/47Whencompaniesofferstocksforsaleforthefirsttime,itiscalledinitialpublicofferings(IPOs).Throughthisway,companiescanraise

fundsfrompublic,institutionalinvestors（机构投资者）,suchasinsurancecompanies,investmentsfunds（投资基金）,andpensionfunds.21/47Investmentbanksalsohaveastock-broking（股票经纪）anddealingdepartment（交易部门）toexecuteorders（执行命令）forclients.Thisdepartmentalsooffersadvicetoinvestors.22/472.4.2mergersandacquisitionsInvestmentbanksoftenrepresentfirmsinmergers（合并）andacquisitions（收购）,anddivestitures（剥离，出售）.Merger:twocompaniesjointogethertoformanewone.Acquisition:onecompanybuysanotherone.Divestiture:acompanysellsasubsidiary.Alltheseserviceschargefeesaccordingtotheresult.23/472.4.3consultingandresearchBecauseofgreatexperienceinfinancialtransactionsandlargenetworkofcontactswithinvestorsandcompaniesthatcouldbeinterestedinamergeroracquisition,investmentbankscanprovideconsultingbusiness（咨询业务）togiveadviceaboutstrategicplanning（战略计划）orfinancialrestructuring（金融重组）.24/47Largeinvestmentbankalsohaveextensiveresearchdepartmentswithanalysts（分析员）andforecasters（预测员）whospecializeinthevaluation（评定）ofdifferentmarkets,industries,companies,securitiesandcurrencies.25/472.5Centralbanking2.5.1

ThefunctionsofcentralbanksCentralbanksarenot“banks”,butgovernmentalinstitutions（政府部门）.Somecentralbanksareresponsibleformonetarypolicy（货币政策）

-tryingtocontroltherateofinflation（通货膨胀率）

tomaintainfinancialstability（金融稳定）.26/47Inmanycountries,thecentralbanksupervises（监督）andregulates（控制）thebankingsystemandthewholefinancialsector.Italsocollectsfinancialdata（金融数据）andpublishesstatistics,andprovidesfinancialinformation（金融信息）forconsumers.Anotherfunctionofcentralbanksistoprintandissue

currency（发行货币）---put

banknotesintocirculation（使货币进入流通领域）.27/472.5.2CentralbankandcommercialbankCommercialbankshavetokeepacertainamountoftheirdepositstothecentralbank.WhenCommercialbanksmeetabankrun（挤兑）,centralbanksactaslenderoflastresort（最终求援借款人）,

butcentralbanksdon’talwaysbailout（rescuebanksindifficulty，救市）.Reserve-assetratio（存款准备金率）:theminimumpercentageofitsdepositsabankhastokeepinthecentralbankAbankrun=arunonthebank28/472.5.3CentralbankandexchangerateCentralbanksmanageacountry’sreserveofgold（黄金贮备）andforeigncurrencies（外汇）.Theytrytoinfluencetheexchangerate（汇率）byintervening（干预）onthecurrencymarkets,andmovingtherateupanddownbybuyingorsellingtheircurrencytochangethebalanceofsupplyanddemand（供求平衡）.29/47Exercises:1.Monetarypolicy,includingsettinginterestrates,isdesignedtomaintainfinancialstability.2.Ifthere’sabankrunandthebankgoesbankrupt,thiscanhavearapideffectonthewholefinancialsystem.3.Ononedayin1992,thebankofEnglandlostover1billioninthecurrencymarkets,tryingtoprotecttheexchangerateofthepound.bank,currency,exchange,financial,monetarymarkets,run,system,policy,rate,stability30/472.6Islamicbanking2.6.1Interest-freebanking无利率银行Islamicbankingdonotpayinteresttodepositorsorchargeinteresttoborrowers.Insteadtheyinvestincompaniesandsharetheprofits（分享收益）withtheirdepositors.Investmentfinancingandtradefinancingaredoneonaprofitandlosssharing(盈亏共享，averyclosebank-customerrelations)basis.Thisformoffinancingissimilartothatofventurecapitalists.31/472.6.2TypesofaccountsCurrentaccounts（经常账户）inIslamicbanksgivenoreturn（无利息）todepositors.Theyareasafekeepingarrangement（保管协议）betweenthedepositorsandthebank,whichallowsthedepositorstowithdrawtheirmoneyatanytime,andpermitsthebanktousethismoney.32/47Savingsaccounts（储蓄账户）canpayareturntodepositors,dependingonthebank’sprofitability（赢利性）,butthereisnofixedrateofreturn（无固定收益）.Investmentaccounts（投资帐户）arefixed-term（定时）depositswhichcannotbewithdrawnbeforematurity.Theyreceiveashareofthebank’sprofits.33/472.6.3Leasingandshort-termloansIfacustomerwantstofinanceapurchaseofexpensivegoods,Islamicbankcanbuyitforacustomerwithaleasing（租赁）orhire

purchase（分期付款购置）arrangement.Thebankalsocanlendmoneywithoutinterestbuttocoveritsexpenseswithaservicecharge（服务费）.34/47ThecomparisonofConventionalbanksandIslamicbanksConventionalbanks:Payinteresttodepositors;Chargeinteresttoborrowers;LendmoneytofinancepersonalconsumptiongoodsIslamicbanks:Givenoreturnoncurrentaccounts;shareprofitswithholdersofsavingsandinvestmentaccounts;Shareborrowers’profit(orlosses);BuyitemsforpersonalcustomerswithaHP35/472.7InterestrateAninterestrate（利率）isthecostofborrowingmoney.Itisusuallysetbythecentralbank,aspartofmonetarypolicy（货币政策）,designedtokeepinflation（通货膨胀）low.36/47Ifinterestratearesettoolow,thedemandforgoodsandservicesgrowsfasterthanthemarket’sabilitytosupplythem.Thiscausespricestorisesothatinflationoccurs.Ifinterestratearesettoohigh,thislowersborrowingandspending.Thisbringsdown（降低）inflation,butalsoreducesoutput（产出）andemployment（就业）.37/472.7.1DifferentinterestratesThediscountrate（贴现率）istheratethatthecentralbanksetstolendshort-termfundstocommercialbanks.Thisisthebaserate（基准利率）ofcommercialbanks.Banksmaketheirprofitbetweentheinterestratetheychargeborrowersandtheratespaytodepositors,knownasamarginorspread.Baserate=primerate银行优惠贷款利率，银行最低利率38/47Theratethatborrowerspaydependsontheircreditworthiness（信誉）,alsoknownascreditstandingorcreditrating（信用级别）.Long-termloanssuchasmortgagesoftenhavefloatingorvariableinterestrates（浮动利率）thatchangeaccordingtothesupplyanddemandformoney.Leasingorhirepurchase(HP，分期付款协议)agreementshavehigherinterestratesthanbankloansandoverdrafts.39/472.8MoneymarketThemoneymarketsconsistofanetworkofcorporations,financialinstitutions,investorsandgovernments,whichneedtoborroworinvestshort-termcapital(upto12months)Throughthemoneymarkets,borrowerscanfindshort-termliquiditybyturningassetsintocash,dealwithirregularcashflows---morecheaplythancommercialbanks.Similarly,investorscanmakeshort-termdepositswithinvestmentcompaniesatcompetitiveinterestrates.40/472.8.1CommonmoneymarketinstrumentsTreasurybills(T-bills，国库券)arebondsissuedbygovernments.Theyaresoldatadiscountfromtheirnormalvalue（票面价值）.Themostcommonmaturityisthreemonths.Commercialpaper（商业票据）isashort-termloanissuedbymajorcompanies,alsosoldatadiscount.Itisunsecured（不安全）.Certificatesofdeposit(CDs，存单)areshort-ormedium-term,interest-payingdebtinstruments（债务工具）.Theyareknownastimedeposits.normalvalue=parvalue=facevalue41/47Repos回购协议Arepurchaseagreement(repo，回购协议)isacombinationoftwotransactions.Aholderofgovernmentsecurities(usuallyT-bills)sellsthesecuritiestoalenderandagreestorepurchasethematanagreedfuturedateatanagreedprice.42/472.9Moneysupplyandcontrolnarrowmoney（狭义货币）:onlyincludecurrencyandsightdeposit（活期存款）.broadmoney（广义货币）:includesavingsdeposits（储蓄存款）andt