3BankingIndustry.

Unit3:BankingIndustryFinancialEnglishUnit3:•RevisionofUnit2•OverviewofUnit3•BackgroundinformationofUnit3•Text•Exercises•AssignmentReviewofUnit2•ExercisesCheck-upQuestion&AnswerSentenceTranslationRevisionofUnit2Question&Answer1.Whatarethemainadvantagesfinancialintermediariescanprovide?2.Whatarethemainreasonssomeeconomistsconcernedthatfinancialintermediariescanbeasourceofshockstotheeconomy?Check-upAnswerthefollowingquestionsaccordingtothetextinUnit33.Whatarethethreecharacteristicsthatmostpeoplewanttohaveintheirassetswhenwelookatfinancialassets?4.Whatisanasset?5.Whatisthe“greater-fool”theory?QuestionandAnswerCheck-upKeytothequestions:1.Lessrisky,andliquidity.2.First,bankdebtservesasmoney,sodisruptionstobankscanaffecttheamountofmoneyincirculation.Second,financialintermediariesaretiedtogetherthroughchainsofdebtsandassets.QuestionandAnswer3.Lowrisk,liquidandahighrateofreturn.4.Anassetiswhatoneowns.Assets=NetWorth+Liabilities5.Tradinginfinancialmarketsinvolvesnotonlyananalysisofthefundamentalvalueofanasset,butalsoananalysisofhowotherpeoplewillreact.Ifpeopleareconfidentthatotherswillbuytheitemformorethantheypaidforit,thentheywillbuyitevenifithaslittlevaluetothem.QuestionandAnswerTranslatethefollowingsentencesorallySentenceTranslation1.Speculationtypicallyinvolvesthelendingofmoneyorthepurchaseofassets,equityordebtbutinamannerthathasnotbeengiventhoroughanalysisorisdeemedtohavelowmarginofsafetyorasignificantriskofthelossoftheprincipalinvestment.Check-upSentenceTranslation2.Inafinancialcontext,thetermsspeculationandinvestmentareactuallyquitespecific.Forinstance,althoughthewordinvestmentistypicallyused,inageneralsense,tomeananyactofplacingmoneyinafinancialvehiclewiththeintentofproducingreturnsoveraperiodoftime,mostventuredmoney—includingfundsplacedinworld'sstockmarkets—isactuallynotinvestment,butspeculation.Check-upSentenceTranslation3.Financialspeculationcaninvolvethebuying,holding,selling,andshort-sellingofstocks,bonds,commodities,currencies,collectibles,realestate,derivatives,oranyvaluablefinancialinstrumenttoprofitfromfluctuationsinitsprice,irrespectiveofitsunderlyingvalue.Check-upSentenceTranslation—SuggestedAnswers1.最典型的投机行为包括借钱或者购买资产，资产净值或者负债，但是上述行为并非基于彻底分析的基础之上，或者被认为安全系数低或者损失本金的风险大。SentenceTranslation—SuggestedAnswers2.在金融领域中，“投机”和“投资”这两个术语事实上是很特殊的。举个例子来讲，尽管“投资”这个单词普遍被人们用来描述任何把货币投到一种金融工具，以期望在一段时间后获得收益的行为。风险更大的货币行为—包括投资到世界股市的资金--事实上不是一种投资，而是投机行为。SentenceTranslation—SuggestedAnswers3.金融投机行为包括不管基本价值而购买、持有、售出、卖空股票、债券、商品、货币、收藏品、房地产、金融衍生品或者任何有价值的金融工具，以期望通过其价格波动获得利润。OverviewofUnit3本章旨在追溯银行业的起源，介绍不同的银行种类以及银行的业务渠道以及各项职能。通过学习本文，应对银行业有总体了解，并着重了解银行的分类以及主要的银行职能。本章重点难点银行业起源银行的分类银行的主要业务渠道银行的经济作用OverviewofUnit3Afterlearningthisunit,youshouldacquire:TheoriginofbanksDifferenttypesofbanksMainchannelsbanksoffertoaccesstheirbankingandotherservicesEconomicfunctionsofbanks美国联邦储备系统(FederalReserveSystem，简称Fed)负责履行美国的中央银行的职责，这个系统是根据《联邦储备法》(FederalReserveAct)于1913年成立的。这个系统主要由联邦储备委员会，联邦储备银行及联邦公开市场委员会等组成。BackgroundInformationBackgroundInformation美联储主要职责：1、制定并负责实施有关的货币政策；2、对银行机构实行监管，并保护消费者合法的信贷权利；3、维持金融系统的稳定；4、向美国政府，公众，金融机构，外国机构等提供可靠的金融服务。美联储其它职责：1、经济教育2、社会超越3、经济研究BackgroundInformation大萧条（TheGreatDepression）是指1929年至1933年之间全球性的经济大衰退。大萧条的影响比历史上任何一次经济衰退都要来得深远。BackgroundInformation大萧条的普遍影响导致了：1、提高了政府对经济的政策参与性，即凯恩斯主义；2、以关税的形式强化了经济的民族主义；3、激起了作为共产主义替代物的浪漫-极权主义政治运动（如德国纳粹）。大萧条相对于其他单一原因来说是最能够解释为什么在1932年到1938年之间欧洲大陆和拉丁美洲各国政治逐渐右翼化。4、阿道夫·希特勒、贝尼托·墨索里尼等独裁者的崛起，间接造成第二次世界大战爆发。BackgroundInformation回教银行（IslamicBank）是遵循回教法律(Shariah)和原则，及回教经济指导方针的银行业务系统。严禁“riba”(征收和缴付利息)，高利贷，经营具有金融风险和不合法(haram)的商业活动，回教银行如今已在全球银行业的局势里成为一股日渐增长的趋势Unit3:•PartI:3.1IntroductiontoBankingIndustry•PartII:3.2TypesofBanks•PartIII:3.3BanksChannels•PartIV:3.4BanksintheEconomyBankingIndustry3.1IntroductiontoBankingIndustryBankshaveinfluencedeconomiesandpoliticsforcenturies.Historically,theprimarypurposeofabankwastoprovideloanstotradingcompanies.Banksprovidedfundstoallowbusinessestopurchaseinventory,andcollectedthosefundsbackwithinterestwhenthegoodsweresold.Forcenturies,thebankingindustryonlydealtwithbusinesses,notconsumers.Bankingserviceshaveexpandedtoincludeservicesdirectedatindividuals,andriskinthesemuchsmallertransactionsarepooled.Text:ThenamebankderivesfromtheItalianwordbancowhichmeansdesk/bench,usedduringtheRenaissancebyFlorentinebankers,whousedtomaketheirtransactionsaboveadeskcoveredbyagreentablecloth.Text:Text:Abankisafinancialinstitutionwhereyoucandeposityourmoney.Banksprovideasystemforeasilytransferringmoneyfromonepersonorbusinesstoanother.Usingbanksandthemanyservicestheyoffersavesusanincredibleamountoftime,andensuresthatourfundspasshandsinalegalandstructuredmanner.Therearealsoothertypesoffinancialinstitutionsthatoperatejustlikebanks.Text:Abankerisdefinedasapersonwhocarriesonthebusinessofbanking,whichisspecifiedas:conductingcurrentaccountsforhiscustomerspayingchequesdrawnonhim,andcollectingchequesforhiscustomers.Text:HOWBANKSOPERATESInadditiontoprovidingasafeplaceforyourmoney,banksalsoloanmoneytobusinessesandconsumers.Alargeportionofabank'sbusinessislending.Howdobanksgetthemoney