第一篇：金融专业英语重点
Primary markets facilitate the issuance of new securities.Secondary markets facilitate the trading of existing securities.Stock Stocks(also referred to as equity securities)are certificates representing partial ownership in the corporations that issued them.Money marketThose financial markets that facilitate the flow of short-term funds(with maturities of less than one year)are known as money markets.Derivative securities are financial contracts whose values are derived from the values of underlying assets
Commercial paper is a short-term debt instrument issued only by well-known creditworthy firms and is typically unsecured.Repurchase agreements refers that one party sells securities to another with an agreement to repurchase the securities at a specified date and price.A banker’s acceptances indicates that a bank accepts responsibility for a future payment.They are commonly used for international trade transactions.Stripped Treasury Bonds The cash flows of bonds are commonly transformed(转化)by securities firms so that one security represents the principal payment only while a second security represents the interest payments: a principal-only(PO)security and an interest-only(IO)security
An initial public offeringis a first-time of shares by a specific firm to the public
A secondary stock offeringis a new stock offering by a specific firm whose stock is already publicly traded.A put option grants the owner the right to sell a specified financial instrument for a specified price within a specified period of time.American optionThe option which can be exercised on or before the maturity date is called American option
Exercise price or strike price: is the price at which financial instrument can be bought or sold in the future.A bond index futures contract allows for the buying and selling of a bond index for a specified price at a specifies date.The Loanable Funds theory, commonly used to explain interest rate movements, suggests that the market interest rate is determined by the factors that control the supply of and demand for loanable funds.Dynamic open market operation The buying and selling of government securities(through the Trading Desk)is referred to as open market operations.Dynamic operations are implemented to increase or decrease the level of funds.Eurocommercial Paper A short-term, unsecured loan issued by a corporation in a currency other than the one in which the corporation operates
initial marginUnder exchange requirements, a customers must establish a margin deposit with the broker before a transaction can be execute.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.Answer the questions1、What are the ways by which the money flows from individual surplus units to deficit units?
financial markets facilitate the flow of funds from surplus units to deficit units.Those financial markets that facilitate the flow of short-term funds(with maturities of less than one year)are known as money markets.Those that facilitate the flow of long-term funds are known as capital markets.Debtbondstockfundderitives2、How does the level of tax, do you think, affect the demand of household for loanable funds?(please explain by pictures)
if tax rates on household income are expected to significantly decrease in the future, households might believe that they can more easily afford future loan repayment and thus be willing to borrow more funds.For any interest rate, the quantity of loanable funds demanded by households would be greater as a result of tax law adjustment.This represents an outward shift in the demand schedule.tax rates on household income(income tax decreases → the line of household demand moves right)
3、What is the relationship between the government demand for loanable funds and interest rate?(explain by pictures)
Whenever a government’s planed expenditures cannot be completely covered by its incoming revenues from taxes and other sources, it demands loanable funds.The way to obtain fund: Municipal(state and local)governments issue municipal bonds to obtain funds, while the federal government and its agencies issue Treasury securities and federal agency securities
Interest-inelastic(insensitive to interest rates): federal government
expenditure and tax policies are generally thought to be independent of
interest rate.Thus the federal government demand for funds is said to be
Interest-inelastic, or insensitive to interest rates.In contrast, municipal
governments sometimes postpone proposed expenditures if the cost of
financing is too high, implying that their demand for loanable funds is
somewhat sensitive to interest rates.• Like the household and business demand, the government demand for
loanable funds can shift in response to various events.Deficit increases → move right
Exhibit 2.3 impact of increased government budget deficit on the government demand for loanable funds
The federal government demand-for-loanable-funds schedule is Dg1, if new bills are passed that cause a net increase in the deficit of USD20 billion, the federal government demand for loanable funds will increaseby that amount.The new demand schedule is Dg2.4、What are the economic factors that affect interest rates?
1)Impact ofEconomic Growth on Interest Rates
2)Impact of Inflation on Interest Rates
3)Impact of the Money Supply on Interest Rates
4)Impact of the Budget Deficit on Interest Rates
5)Impact of foreign Flows of Funds on Interest Rates
6)Summary of Forces that Affect Interest Rates5、Explain “crowding-out effect” please.The deficit might not necessarily place upward pressure on interest rates.Given a certain amount of loanable funds supplied to the market(through saving), excessive government demand for these funds tends to “crowd out” the private demand(by consumer and corporation)for funds.The federal government may be willing to pay whatever is necessary to borrow these funds, but the private sector may not.This impact is known as the crowding-out effect.6、What are the monetary policy tools?
Open market operations
Adjustments in the discount rate
Adjustments in the reserve requirement ratio7、What are the ways by which the money flows from individual surplus units to deficit units?
8、How does the Fed use the monetary policy tools to adjust the money supply?（答案待定）
1.Open Market Operations
The buying and selling of government securities(through the Trading Desk)is referred to as open market operations. When the Fed issues securities, the commercial banks purchase those that
are most attractive.The total funds decrease and the money supply falls. When the Fed purchase securities, the total funds increase, which represents
a loosening of money supply growth. Adjusting the Discount Rate
The interest rate that an eligible(有资格的)depository institution is charged to borrow short-term funds directly from a Federal Reserve Bank.To increase the money supply, the Fed can authorized a reduction in the
discount rate;to decrease the money supply, the Fed can increase the
discount rate.3.Adjusting the Reserve Requirement Ratio
Reserve Requirement Ratio is the proportion of their deposit accounts that must be held as reserves.The lower the reserve requirement ratio, the greater the lending capacity of depository institutions, so a largermoney supply.When the fed manipulates the money supply to influence economic variables, it must decide what form of money to manipulate.The optimal form of money should
(1)be controllable by the fed and(2)have a predictable(可预测的)impact on economic variables when adjusted by the fed.The most narrow form of money, known as M1, includes currency held by the public and checking deposits(such as demand deposits, NOW accounts, and automatic transfer balances)at depository institutions.9、What are the differences between the general obligation bonds and revenue bonds both of which belong to municipal bonds?
Like the federal government, stateand local government frenquently spend more than the revenues they receive.To finance the difference, they issue municipal
bonds, most of which can be classified as either General obligation bonds or revenue bonds.payments on General obligation bonds are supported by the municipal
government’s ability to tax, whereas payments on revenue bonds must be generated by revenues of the project(tollway, toll bridge, state college dormitory, etc)for which the bonds were issued.Material: municipal bond10、What are the characteristics of corporate bonds?
The bond indenture, trustee
Corporate bonds can be described according to a variety of characteristics.The bond indenture(契约)is a legal document specifying the rights and obligations of both the issuing firm and the bondholders.It is very comprehensive(normally several hundred pages)and is designed to address all matters related to the bond issue(collateral, payment dates, default provision, call provisions, etc)
Sinking-Fund Provision(偿债基金准备)
Bond indentures frequently include a sinking-fund provision, or a reqirement that the firm retire a certain amount of bond issue each year.This provision is considered to be an advantage to the remaining bondholders because it reduces the payments necessary at maturity.Protective Covenants(保护条款)
Bond indentures normally place restrictions on the issuing firm that are designed to protest the bondholders from being exposed to increasing risk during the investment period.Those so called Protective Covenants frequently limit the amount of dividends and corporate officers’ salaries the firm can pay and also restrict the amount of additional debt the firm can issue.Other financial policies may be restricted as well.10、What are the main differences between common stock and preferred stock?
The ownership of common stock entitles shareholders to a number of rights not
available to other individuals.Normally, only the owner of common stock are permitted to vote on certain key matters concerning the firm,such as the
election of the board of directors, authorization to issue new shares of common stock, approval of amendments to the corporate charter, and adoption of bylaws(附例). Usually not allow for significant voting rights,The preferred stockholders have the priority to earn dividends compared with common stockholders.But a firm is not legally required to pay preferred stock dividends.11、What are the similarities and differences between forward contract and future contract?
Futures and forward contracts are similar in the following ways:
Both are derivative securities for future delivery.The parties agree today on
price and quantity for settlement in the future. Both are used to hedge currency risk, interest rate risk or commodity price
risk.They differ in these ways:
Forward contracts are private, customized定制 contracts between a bank
and its clients depending on the client’s needs(OTC).There is no secondary market for forward contracts since they are private contractual agreements. Forward contracts are settled at expiration.Futures contracts are continually
settled(mark to market)
12、What are the risks of trading futures contracts?
Market risk
Basis risk
Liquidity risk
Credit risk
Prepayment risk
Operational risk13、What are the determinants of call option premiums?
Market price of the underlying instrument
Influence of the market price: the higher the existing market price of the underlying financial instrument relative to the exercise price, the higher the call option premium, other things being equal.Volatility of the underlying instrument
Influence of the stock’s volatility: the greater the volatility of the underlying stock, the higher the call option premium, other things being equal.Time to maturity of the call option
Influence of the call option’s time to maturity: the longer the call option’s time to maturity, the higher the call option premium, other things being equal14、What are the reasons that the Eurodollar market is attractive for both depositors and borrowers?
the spread between the rate banks pay and the rate they charge is relatively small
Only governments and large corporations participate in this market—lower
risk
Investors in the market avoid some costs(no deposit insurance, lower taxes,no government-mandated credit allocations)
Eurodollar CDs are not subject to reserve requirements
Less regulations and restrictions
第二篇：金融专业英语
金融专业英语
1、Financial System
见photo1和photo2，监管机构要把一行三会、发改委、财政部、外管局、统计局的全称写上，其他三个部分也要写全称。
2、Money Market（定义、金融工具及特点）
从P57第二段第三行the money market is actually…开始，一直到P57倒数第四行的expirations。
Money market funds & Money market accounts的区别
P58-59,老师重点划了P59倒数第七行Money market accounts typically offer…carry additional restrictions。
3、LIBOR（定义，上升、下降会带来什么）
P18第二段和P19倒数第三段、第二段
4、TED（定义，增大、缩小会带来什么）
P20第二段、第四段、第五段
5、OIS（这部分记得有点混乱。。）
P21第二段第一句话Overnight…other financial institutions。
P21最后一句话To set up the swap…the other institution。P22第十行One of the key…are paying。第十六行To resolve this issue…each day。
P23第十六行As usual…the gears of expansion。
这个知识点老师一直讲到P25的第三段，后面的就不考了，上课打瞌睡，这部分记得不全，欢迎大家补充哈~O(∩_∩)O~
第三篇：金融专业英语
lessee 租单人
lessor租赁人
heirs继承人
successor继任人
assigns受托人，代理人
paymaster收款方，出纳
principal委托人
beneficiary 受益人
undersigned 签字人
authorized signatory授权签字人
issued country签发国
issued date签发日期
bank guarantee银行保函（BG）
documentary letter of credit跟单信用证（DLC）
standby letter of credit 备用信用证（SBLC）
fees protection agreement 佣金保护协议（FPA）
irrevocable master fees protection agreement 不可撤销的佣金保护协议（IMFPA）
hard copy 正本
bank bonded courier 银行保价专递
unencumbered 无抵押
free of liens无留置
borrower's initials借方名称首字母缩写
details of secuties 有价证券说明
be no callable prior to maturity 到期前不能支取
operating bank营业银行
contract quantity 合同总额
tranche schedule分期日程
tentative schedule临时计划表
withdraw slip 提款单
institutional costs手续费
sign and seal签字盖章
restrictions限制条件
imposts间接税
liens留置
tranching分期
memorandum of understanding 谅解备忘录（MOU）
physical gold实物黄金
paper gold纸黄金
ingots金锭
tax incentive税收优惠
quote引文开始
unquote引文结束
rolls & extension 可滚动可展期（R&E）
performance bond 履约保函（PB）
specimen draft样本
letter of instruction委托购买书
letter of intent意向书（LOI）
letterhead公用信笺
bridge channel牵线人
power of attoney委托书
regional centre经济特区
pro forma invoice形式发票
irrevocable corporate purchase/pay order不可撤销购买/支付订单（ICPO）
permissory note本票，期票（PN）
assignment of agreement;deed of agreement转让协议
pre-advice预通知
due dilligence尽职调查（DD）
IBAN国际银行账号（International bank Account Number）
SWIFT 全球银行间金融通信社（Society for Worldwide Financial Telecommunication）FATF金融行动特别工作组（Financial Action Task Force）
MTN中期票据（medium term note）
POF资金证明（proof of funds）
bank coordinates 银行坐标
payment order 支付令，付款通知
treasury bill国债，国库券
call option购买选择权，看涨期权，买入期权，延买期权
legal advisor 法律顾问
legal firm律师事务所
penalty of perjury 伪证罪
tear sheet银行声明；样张(尤指有广告的一页，送给广告客户以证明广告已登出)force majeure 不可抗力
international chamber of commerce国际商会（ICC）
non-circumvention and non-disclosure 保密原则（NCND）
hongkong and shanghai banking corporation 汇丰银行（HSBC）
non-solicitation letter诚信契约书
board of directors corporate resolution董事会决议
whereas鉴于（这个词在合同中会大写）
in witness whereof 兹证明
issuing bank发证行
indemnity letter赔偿保证书
wire transfer电汇
minute book会议记录簿
request for proposals标书（RFP）
registered financial planner注册金融策划师（RFP）credit enhancement增强信贷
soft probe软调查
bank reference资信证明
第四篇：金融专业英语参考
金融专业英语
一、选择题（一共10题，每题2分，共20分）
第8题和第16题替补再后面。
1.Only what happens if the supply is less than demand?（actual price is higher than the equilibrium price）2.When the Consumer income and established conditions for commodity prices is still, consumers can buy the two commodities to the greatest number of combinations.What did the Line call?
（consumption may Line）
3.Opportunity cost:（Measures the cost of doing “x” in terms of what else might be done）4.The normal downward slope of demand curves is necessarily explained by:（Limited spending power）5.For a closed two-good economy, the output of the two goods should be at the point where:（The highest indifference curve touches the production possibility curve）.The “J-curve” shows that following depreciation:（The cost of imports rises immediately from the price effect, worsening the current account bal-ance, but later quantities of imports and exports respond and the current account balance im-proves）
7.Which of the following statements about standby letters of credit is true? :（They can serve as a guarantee to a buyer against a seller defaulting）8.What information would you find in a statement of cash flows that you would not be able to get from the other two primary financial statements?（Total liabilities due to creditors at the end of the period）*8&16.Which of the following is not a characteristic of a competitive industry?(There is a fierce price war among rivals.)9.Which of these best describes the U.S.Federal Reserve?（Responsible for monetary policy/money supply）10.What is the basic purpose of profits in our market economy?（Lead businesses to produce what consumers want）
11.Which of the following will NOT cause a shift in the demand for baseballs?(An increase in the price of baseballs)12.Decreasing returns to scale may arise from(Inefficiencies in management)
13.If the marginal rate of technological substitution(MRTS)is more than the price ratio of labor over capital(w/r), then to minimize cost the firm should Decrease the input of capital and increase the input of labor.14.The price of a good changes, both the substitution effect and the income effect reinforce each other, then the good is a(n)(Normal good)15.What market is the Most in need of the advertising?(Competitive monopoly market)16.American economist Modigliani’s life-cycle hypothesis is that:(Work time after retirement savings for the consumer finance)17.According to the rules of debit and credit for balance sheet accounts:(Decreases in asset and liability accounts are recorded by credits)18.Individuals will accept the medium of exchange in return for goods and services only if they are confident that:(They can exchange it for gold)
19.The prices of meat products in a competitive market are determined by:(Supply and demand)20.Which one of the following is most likely to improve the wages of American workers?(An increase in productivity)
二、阅读题（一共5题，每题4分，共20分）
Reading A:Laura James is the head portfolio manager for national Fund 1.Assume an industry exhibits tendencies of “regression toward the mean.”This could mean all of the following EXCEPT:（Profits increase as firms enter the industry）2.In a recessionary environment, an automaker such as Ford would be expected to:（Produce lower end vehicles）
3.Assume domestic automakers are growing at a rate of –2%.Ford expects to increase its market share by 0.5%.What is Ford’s growth rate?（–1.51%）(1 + growth of firm sales)=(1 + growth of industry sales)x(1 + fractional change of market share)= 0.98 x 1.005
= 0.9849
Growth of firm sales = –1.51%
4.Suppose instead that Ford’s growth of firm sales is expected to be –3% and the growth of industry sales is 1%.What is Ford’s expected change in market share?（-4%）0.97 = 1.01 x(1 + x)
0.9604 = 1 + x
–3.96% = x
5.Which of the following scenarios would be most likely to have a positive impact on Ford’s market share?（An increase in its marketing budget）Reading B:Liquidity is a measure of how quickly an item may be converted to cash.1.Long-term assets are all assets other than current assets.(Doesn’t say)2.Supplies are less liquid than accounts receivable, and furniture and buildings are even less so.(Right)
3.People are interested in liabilities on the balance sheet because it is relatively liquid.(Wrong)Reading C:Whereas the money markets provide very short-term loans, the capital market takes account of medium and long-term loans.4.An industrial corporate can meet its financial needs by seeking funds from the capital markets.(Right)
5.Nowadays a private business usually obtains its working capital through a commercial bank.(Wrong)6.In the UK commercial banks often raise funds by issuing bands and stocks.(Doesn’t say)
三、简答题（一共8题，每题5分，共40分）
需要先把题目翻译成中文，用英语回答内容。
1.What is finance? 什么叫金融？ The word “finance” signifies capital in monetary form, that is, in the form of funds lent or borrowed, normally for capital purposes, through financial markets or financial institutions.When finance goes international, it is then an international finance.2.What is financial market?什么是金融市场？
It is a place where financial transactions take place.Financial markets facilitate the lending of funds from savers to those who wish to undertake investments.Those that wish to borrow to finance investment projects sell financial instruments to savers.3.what is primary market? 什么是初级市场？ A primary market is a financial market in which new issues of a security, such as a bond or a stock, are sold to initial buyers by the corporation or government agency borrowing the funds.4.What is secondary market? 什么是二级市场？ A secondary market is a financial market in which securities that have been previously issued(and are thus secondhand)can be resold.5.Which methods could be used to balance the international payment deficit? 哪些方法可以用来平衡国际收支逆差？
The methods will be used as following:
a.import restrictionb.export promotion c.tighten monetary policy
d.tighten fiscal policy e.devaluation
6.What are the major functions of modern commercial bank?现代商业银行的主要功能是什么？ a.They are medium of credit.b.They are medium of payment.c.They change money into capital.d.They are creation of credit.7.先解释货币市场再说特征
businesses have aggressively pursued alternatives to low-interest-rate bank accounts.One such alternative is provided by the money markets.Money market have three basic characteristics in common:
a.They are usually sold in large denominations.b.They have low default risk.c.They mature in one year or less from their original issue date.Most money market instruments mature in less than 120 days.8.Participants of Money Market 货币市场的参与者（选择其中两个解释即可）a.The Government In money market, the government is unique because it is always a supplier and demander of money market funds.The U.S.Treasury is the largest of all money market borrowers worldwide.It issues Treasury bills(often called T-bills)and other securities that are popular with other money market participants.Short-term issues enable the government to raise the maturing issues.b.The Central Bank The Central Bank is the Treasury’s agent for the distribution of government securities.The central bank holds vast quantities of Treasury securities that it sells if it believes that the money supply should be reduced.Similarly, the central bank purchases Treasury securities if it believes that the money supply should be expanded.The central bank’s responsibility for the money supply makes it the single most influential participant in the money market.c.Commercial BanksCommercial banks hold a larger percentage of government securities than any other group of financial institutions.This is partly because of regulations that limit the investment opportunities available to banks.Specifically, banks are prohibited from owning risky securities, such as stocks or corporate bonds.There are no restrictions against holding Treasury securities because of their low risk and high liquidity.Banks are also the major issuer of negotiable certificates of deposit(CDs), banker’s acceptances, and repurchase agreements.In addition to money market securities to help manage their own liquidity, many banks trade on behalf of their customers.Not all commercial banks deal for their customers in the secondary money market.The ones that do are among the largest in the country and are often referred to as money center banks.d.Businesses
Many businesses buy and sell securities in the money market.Such activity is usually limited to major corporations because of the large transactions involved.As discussed earlier, the money market is used extensively by businesses both to warehouse surplus funds and to raise short-term funds.e.Investment Companies Large diversified brokerage firms are active in money markets.The primary function of these dealers is to “make a market” for money market securities by maintaining an inventory from which to buy or sell.These firms are very important to the liquidity of the money market because they help ensure that both buyers and sellers can readily market their securities in the primary market as well as in the secondary market.f.Insurance Companies Property and casualty insurance companies must maintain liquidity because of their unpredictable need for funds.To meet this demand, the insurance companies sell some of their money market securities to raise cash.As to the life insurance companies, because their obligations are reasonably predictable, large money market security holdings are unnecessary.However, it is a common practice that an individual can have his/her money invested in the money market through the agent department of banks and investment companies, to earn a higher interest rate than otherwise deposited in the banks.9.Inter-bank Markets 银行同业拆借市场 Inter-bank markets are money markets in which short-term funds transferred(loaned or borrowed)between financial institutions, usually for a period of one day, that is, they are usually overnight investment.The interest rate for borrowing these funds is close to, but always slightly higher than rate that is available from the central bank.10.Bank’s Acceptances 银行承兑
A bank’s acceptance is an order to pay a specified amount of money to the bearer on a given date.Banker’s acceptances have been in use since the twelfth century, and are commonly used for international trade transactions.四、综合运用题（共20分）
1.What is financial crisis?金融危机是什么 A financial crisis is a disruption to financial markets in which adverse selection and moral hazard problems become much worse, so that financial markets are unable to efficiently channel funds to those who have the most productive investment opportunities.As a result, a financial crisis can drive the economy away from an equilibrium with high output in which financial markets perform well to one in which output declines sharply.2.The effects of financial crisis?金融危机的影响 ①Many financial institutions went broke or recombined
②Global income redistribution is appearing
③The development of financial liberation has been inhibited
④International currency system is forced to be changed
第五篇：金融专业英语求职信
In the four years of school life, I have a systematic grasp of the financial system financial professionals, but also the development of todays financial industry with a deeper understanding.Therefore, to lay a solid foundation of professional expertise.Through a four-year specialized courses of study, can grasp and skilled use of international financial, monetary and Banking, Central Bank, Insurance, property insurance, life insurance, Western financial theory, financial marketing, financial marketing, school, bank accounting, commercial banks, Western economics and other professional knowledge and skills, and mastery of a computer beginner, intermediate knowledge and proficiency in the use of WINDOWS operating systems, proficiency in internet, can use WpS, Microsoft Word document editing and operation etc., and can use tools such as photoshop software graphic design, mastered the production of Microsoft Visual Foxpro database.I have been active in learning and motivated to study professional courses in each door, and through the National Computer Rank Examination 2.In practice, life, I put myself in the cruel reality of the knowledge society, learning society, to participate in a number of social practice, greatly enriched his knowledge of society.I have a positive attitude towards life and a wide range of interests and hobbies, strong sense of responsibility at work, diligent, steadfast, strong organization, public information capacity, focusing on team spirit and collective ideas.Road will be long Xi, Wu Jiang from top to bottom the sake of the!If a person can be more practical way of doing things, then his world is magnificent.I firmly believe this and constantly improve themselves.If the privilege were employed, I will think that the best interests of the company to create their own best interests and not bargain.Sincerely do everything, and my colleagues work hard in unity.Work hard to enhance learning, continuous improvement!
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