金融英语名词解释

ODI：ODIisinvestmentofdomesticassetsintoforeigncountries,isnotinvestmentinthestockmarketsorintheequityoffirms,iscomposedofM&Aandinvestment.T/T:cabletransferorwiretransfer——istheequivalentofacashpaymentthatcanbecrediteddirectlytotheseller’saccount.B/L:waybillorconsignmentnote,andreceipt(inpostalorcourierdelivery)arecollectivelyknownasthetransportdocuments.L/C:Itisthebuyerwhoinitiatesthemakingofpayment,byinstructinghisbanktoissueadocumentarycreditinfavoroftheseller.Theforeignexchangemarket:ItisaplacetotradeforeignexchangecurrencyandforthetransactionofallforeigncurrencyCommercialbanks:isatypeoffinancialintermediary.Itoffersbothcommercialandinvestmentbankingservicesforindividualandbusiness,suchasdeposits,creditcards,loans,trusts,mutualfunds,treasurybills,insurancesandsoon.Savingsaccount:Asavingsaccounttypicallyreferstoanaccountinwhichoneplacesmoneytoearnasmallamountofinterest.Checkingaccounts:Acheckingaccountisconvenience;itcanbeusedinplaceofcashtomakepaymentsasATMcardsoreachelectronicdebitcards.Bankers’acceptances:Abankers'acceptance(orBA)isashort-termcreditinvestmentcreatedbyanon-financialfirmandguaranteedbyabanktomakepaymentinaforeigntrade.Commercialpaper:Commercialpapersareunsecured,short-termloans.Onlyhighcreditratingandcreditworthinesscorporationshavecredittoissuecommercialpapers.Repos：Repos(alsoknownasrepurchaseagreementsorSaleandRepurchaseAgreement)areaformofovernightborrowingbackedbygovernmentsecurities.Abalancesheet:Infinancialaccounting,abalancesheet(orstatementoffinancialposition)isasummaryofaperson‘sororganization’sbalancesTheincomestatement：showsrevenuesandexpensesofacompanyforagivenperiodoftime。简答：1)Whatdoyouunderstandby“openaccountbusiness”?Inanopenaccounttradearrangement,thegoodsareshippedtoabuyerwithoutguaranteeofpayment.Quiteoften,thebuyerdoesnotpaytheagreedtime.Unlessthebuyer’sintegrityisunquestionable,thistradearrangementisriskytotheseller.2)BenefitsandcostsofFDI1Host-countrybenefitsThemainbenefitsofinwardFDIforahostcountryarisefromresource-transfereffects,employmenteffects,andbalance-of-paymentseffects.2Host-countrycostsThesecostsofFDIconcernhostcountries.Theyarisefrompossibleadverseeffectsoncompetitionwithinthehostnation,adverseeffectsonthebalanceofpayments,andtheperceivedlossofnationalsovereigntyandautonomy.3Home-countrybenefitsThebenefitsofFDItothehomecountryarisefromthreesources.First,thehomecountry’sbalanceofpaymentsbenefitsfromtheinwardflowofforeignearnings.Second,benefitstothehomecountryfromoutwardFDIarisefromemploymenteffects.Aswiththebalanceofpayments,positiveemploymenteffectsarisewhentheforeignsubsidiarycreatesdemandforhome-countryexports.Third,benefitsarisewhenthehome-countryMNElearnsvaluableskillsfromitsexposuretoforeignmarketsthatcansubsequentlybetransferredbacktothehomecountry.Thisamountstoareverseresource-transfereffect.4Home-countrycostsAgainstthesebenefitsmustbesettheapparentcostsofFDIforthehomecountry.Themostimportantconcernscenteronthebalance-of-paymentsandemploymenteffectsofoutwardFDI.First,thebalanceofpaymentssuffersfromtheinitialcapitaloutflowrequiredtofinancetheFDI.Second,thecurrentaccountofthebalanceofpaymentssuffersifthepurposeoftheforeigninvestmentistoservethehomemarketfromalow-costproductionlocation.Third,thecurrentaccountofthebalanceofpaymentssuffersiftheFDIisasubstitutefordirectexports.3)Thestructureandmainitemsofbalancesheet1.Assets:Inbusinessandaccounting,assetsareeverythingownedbyapersonorcompanythatcanbeconvertedintocash.IncludesCurrentassetsandLong-termassets.Thecurrentassetsincludecash,Cashequivalents,Accountreceivable,Inventory.Thelong-termassetsincludetangibleandintangible2.Liabilities:Liabilitiesarefinancialdebtsofacompanytotheiroutsideclients.IncludesCurrentliabilitiesandLong-termliabilities.3.Owners’equity:Inbusinessandaccounting,afterallliabilitiesarepaid,ownershipequityistheremaininginterestinassets.IncludesCapitalandRetainedearningandNetworth.4)Differentmethodstoexpressaforeignexchangerate1.ThemostcommonmethodwouldexpresstheamountofforeigncurrencytobuyoneU.S.dollarE.g.USD/CND=1.43002.AnothercommonlyusedistheUSDamountcanbeexchangedforoneunitofaforeigncurrencyE.g.CND/USD=0.67003.ThecrossrateexpressestherelativevaluesbetweenthetwocurrenciesE.g.DEM/SFR=0.70005)Thedifferencebetweenadocumentarycollectionandacleancollection1.CleanDraftInacleandraft,noshippingdocumentsareattachedtothedraftsenttotheremittingbank.Thedocumentsaresenttogetherwiththegoods,directlytothebuyer.Therefore,unlessthecredibilityofthebuyerisunquestionable,usingacleandraftintheshipmentofgoodsisrisky.Thecleandraftismoreoftendrawnforthecollectionofpaymentfortheservices,notthegoods.2.DocumentaryDraftInadocumentarydraft,theshippingdocumentsareattachedtothedraftsenttotheremittingbank.Thebuyerwillbeabletoreceivetheshippingdocumentsfromthecollectingbankonlyafterhe/shehasacceptedthedraftforpaymentlaterorafterhe/shehaspaidthedraft.6).Theadvantageofadocumentarycollectiontotheexporter