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金融英语名词解释(仅供参考)Weusemoneytopayforourpurchasesandtostorewealth.Weusefinancialinstrumentstotransferresourcesfromsaverstoinvestorsandtotransferrisktothosewhoarebestequippedtobearit.Financialmarketsallowustobuyandsellfinancialinstrumentsquicklyandcheaply.Financialinstitutionsprovideanumberofservices,includingaccesstothefinancialmarketsandcollectionofinformationaboutprospectiveborrowerstoensuretheyarecreditworthy.Centralbanksmonitorandstabilizetheeconomy.DifferencebetweenMoneyandCurrencyEconomistsdefinemoney(alsoreferredtoasthemoneysupply)asanythingthatisgenerallyacceptedinpaymentforgoodsorservicesorintherepaymentofdebts.Currency,consistingofdollarbillsandcoins,clearlyfitsthisdefinitionandisonetypeofmoney.TransactionCostThetimespenttryingtoexchangegoodsandservicesiscalledatransactioncost.LiquidityLiquidityisameasureoftheeasewithwhichanassetcanbeturnedintoameansofpayment,namelymoney.InflationInflationisasustainedriseinthegeneralpricelevel—thatis,thepriceofeverythinggoesupmoreorlessatthesametime.M1=currency+Traveler’schecks+Demanddeposits+OthercheckabledepositsM2=M1+Small-denominationtimedeposits+Savingsdepositsandmoneymarketdepositaccounts+Moneymarketmutualfundshares(non-institutional)M3=M2+Large-denominationtimedeposits+Moneymarketmutualfundshares(institutional)+Repurchaseagreements+EurodollarsCreditunions(CUs)Creditunions(CUs)arenonprofitorganizationscomposedofmemberswithacommonbond,suchasanaffiliationwithaparticularlaborunion,church,university,orevenresidentialarea.PensionfundLikeaninsurancecompany,apensionfundofferspeopletheabilitytomakepremiumpaymentstodayinexchangeforpromisedpaymentsundercertainfuturecircumstances.Defined-contributionpensionplanInadefined-contributionpensionplan,eachemployeehasanaccountintowhichtheemployerandusuallytheemployeemakeregularcontributions.◆Atretirement,theemployeereceivesabenefitwhosesizedependsontheaccumulatedvalueofthefunsintheretirementaccount.Defined-benefitpensionplanInadefined-benefitpensionplan,theemployee’spensionbenefitisdeterminedbyaformulathattakesintoaccountyearsofservicetotheemployerand,inmostcases,wagesorsalary.◆Atypicalformulawouldbe1%ofaverageretirementsalaryforeachyearofservice.MutualfundAmutualfundisaportfolioofstocks,bonds,orotherassetspurchasedinthenameofagroupofinvestorsandmanagedbyaprofessionalinvestmentcompanyorotherfinancialinstitution.SecuritiesbrokersSecuritiesbrokersarepureintermediarieswhoactasagentsforinvestorsinthepurchaseorsaleofsecurities.Theirfunctionistomatchbuyerswithsellers,afunctionforwhichtheyarepaidbrokeragecommissions.SecuritydealersSecuritydealerslinkbuyersandsellersbystandingreadytobuyandsellsecuritiesatgivenprices.Dealersholdinventoriesofsecuritiesandmaketheirlivingbysellingthesesecuritiesforaslightlyhigherpricethantheypaidforthem.OrganizedexchangeAnorganizedexchangeactuallyfunctionsasahybridofanauctionmarket(inwhichbuyersandsellertradewitheachotherinacentrallocation);DealermarketAdealermarket(inwhichdealersmakethemarketbybuyingandsellingsecuritiesatgivenprices).LegalreservesAlldepositoryinstitutionsofferingselectedkindsofdepositsarerequiredtoholdasmallpercentageofthosedepositsinanassetaccountofthecentralbankknownaslegalreserves.DiscountrateDiscountrateistheinterestratechargedbyacentralbankonloanstocommercialbanks.MoneymarketsFirmsandindividualsusethemoneymarketsprimarilytowarehousefundsforshortperiodsoftimeuntilamoreimportantneedoramoreproductiveuseforthefundsarises.CapitalmarketsFirmsandindividualsusethecapitalmarketsforlong-terminvestments.Thecapitalmarketsprovideanalternativetoinvestmentinassetssuchasrealestateorgold.Thecapitalmarketisthemarketinwhichlong-termdebt(generallythosewithoriginalmaturityofoneyearorgreater)andequityinstrumentsaretraded.FacevalueThefacevalue,orparvalue,ofabondisthevalueofthebondatmaturity,thedatewhentheloanispaidoff.Acommonfacevalueis$1,000perbond.CouponrateAbond’scouponratereferstotheamountofinterestthatwillbepaidbasedonthefacevalueofthebond.CommonstockCommonstockmakesupthemajorityofstocks.Asacommonstockholder,youhavearighttoclaimdividendsandgettohaveonevotepersharewhenelectingboardofdirectors.PreferredstockPreferredstockdoesnotusuallyincludevotingrightsandpaysaspecifieddividend,becauseofwhichthestockpricedoesnotriseandfallalongwiththecompanyprofits.BearmarketAbearmarketindicatesthecontinuousdownwardmovementofthestockmarket.BullmarketAbullmarketindicatestheconstantupwardmovementofthestockmarket.Aparticularstockthatseemstobeincreasinginvalueisdescribedtobebullishwhileastockthatseemstobedecreasinginvalueisdescribedtobebearish.Exchange-tradedderivatives(ETD)Exchange-tradedderivatives(ETD)arethosederivativesproductsthataretradedviaspecializedderivativesexchangesorotherexchanges.Foreignexchangerates外汇交易市场Thepricesofforeigncurrenciesexpressedintermsofothercurrenciesarecalledforeignexchangerates.其作用ThepurposeofFXmarketistofacilitateinternationaltradeandinvestment.TheneedforaforeignexchangemarketarisesbecauseofthepresenceofdiverseinternationalcurrenciessuchasUSdollars,PoundSterling,etc.,andtheneedfortradinginsuchcu