glossary for Financial markets and institutions.doc

Financial markets and institutionsChapter 1:Role of finacial markets and institutionsSurplus units:盈余方Deficit units:赤字方Money markets:貨幣市場Capital makets:資本市場Primary markets:一級市場Secondary markets:二級市場Liquidity:流動性Organized exchange:交易所市場Financial market:金融市場Over-the-counter(OTC) market:場外交易市場Money market securities:貨幣市場工具Capital market securities:資本市場工具Derivative securities:衍生工具Privatization:私有化Foreign exchange market:外匯市場Perfect market:有效市場Imperfect market:無效市場Money market mutual funds:貨幣市場共同基金B(yǎng)roker:經紀人Spread:差價Bid quotes:買入報價Underwrite:承銷Dealers:自營商Coupon payments:息票支付Commercial paper:商業(yè)本票Bankers acceptances:銀行承兌匯票Municipal bonds:市政債券Hedging:對沖，套期保值Discount:折扣，貼現，貼現率Inventory:存貨Markup:漲價、利潤、成本、毛利Chapter 2: Determinnation of interest ratesLoanable funds theory:可貸資金理論Interest-inelastic:缺乏利率彈性Fisher effect:費雪效應Real interest rate:實際利率Growding-out effect:擠出效應Chapter 3: Structure of interst ratesInvestment-grade bonds:投資級債券Term structure of interest rates:利率的期限結構Call feature:贖回特性Convertible clause:可轉換條款Pure expectations theory:純粹預期理論Liquidity premium theory:流動性溢價理論Segmented market theory:分割市場理論Preferred habitat theory:偏好歸宿理論Collateral provision:擔保條款T-bill: Treasury billBasis point: 基點, 上升30個基點指的是上升0.3%。Pivot:沿著樞軸旋轉Countercolckwise:逆時針方向Rationale:基本原理Par:標準，票面價值，平均數量Chapter 4: Monetary policy toolsFederal reserve district bank:聯邦儲備銀行Board of governors:聯邦儲備委員會Federal open market committee(FOMC):聯邦公開市場委員會Repurchase agreement:回購協議Dynamic open market operation:主動型公開市場操作Defensive open market operation:防御型公開市場操作Reserve requirement ratio:法定存款準本金比率M1、M2、M3：為不同層次的貨幣供應量Discount rate:再貼現率Trading desk(open market desk):交易柜臺（公開市場柜臺）Policy derective:政策指示Open market operations:公開市場操作Money market deposit account:貨幣市場存款賬戶Depository institutions deregulation and monetary control act(DIDMCA):存款機構放松管制與貨幣控制法案Chaper 5: Monetary theory and policyKeynesian theory:凱恩斯理論Demand-pull inflation:需求拉動型通貨膨脹Monetarists:貨幣主義者Modern quantity theory of money:現代貨幣數量理論Theory of rational expectations:理性預期理論Phillips curve:菲利普斯曲線Recognition lag:認知時滯Implementation lag:執(zhí)行時滯Monetizing the debt:債務貨幣化Global crowding out:全球擠出效應Chapter 6: Money marketsCommercial paper:商業(yè)票據Junk commercial paper:垃圾商業(yè)票據Negotiable certificates of deposit(NCDS):大額可轉讓定期存單Reverse repo:逆回購Federal funds rate:聯邦基金利率Bankers acceptance:銀行承兌匯票Letter of credit:(L/C)：信用證Eurodollar certificates of deposit:歐洲美元存單Eurodollar market:歐洲美元市場Eurodollar floating-rate CDS(ENFRCDS):歐洲美元浮動利率存單Eurocurrency market:歐洲貨幣市場Eurobanks:歐洲銀行Eurocredit market:歐洲信貸市場Euronotes:歐洲本票Euro-commercial paper(euro-CP): 歐洲商業(yè)票據Effective yield:有效收益率Chapter 7: Bond marketsBearer bonds:不記名債券Registered bonds:記名債券Yield to maturity:到期收益率Stripped securities:剝離債券（分割債券）Government national mortgage association(ginnie mea):政府國民抵押貸款協會Federal national mortgage association(fannie mae):聯邦國民抵押貸款協會General obligation bonds:一般責任債券Revenue bonds:收益?zhèn)疌orporate bonds:公司債券Indenture:契約Trustee:受托人Sinking-fund provision:償債基金條款Call provision:贖回條款Call premium:贖回溢價First mortgage bond:優(yōu)先抵押債券Chattel mortgage bond:動產抵押債券Debentured:信用債券Subordinated debentures:次級信用債券Low-coupon and zero-coupon bonds:低息和零息債券Variable-rate bonds:浮動利率債券Market order:市價委托Limit order:限價委托Junk bonds:垃圾債券Contagion effects:傳染效應Global junk bonds:全球垃圾債券Chapter 8: Bond valuation and riskPresent value interest factors:貼現因子Annuity:年金Chapter 9: Mortgage marketsFixed-rate mortgage:固定利率抵押貸款Adjustable-rate mortgage(ARM):可調整利率抵押貸款Amortization schedule:分期付款償還表Graduated-payment mortgage:漸進償付抵押貸款Growing-equity mortgage:權益增長抵押貸款Shared-appreciation mortgage:分享增值抵押貸款Securitization:貸款證券化Prepayment risk:提前償付風險Mortgage pass-through securities:抵押支持轉手證券Participation certificates(PCs):參與憑證Collateralized mortgage obligation(CMOs):抵押擔保債務證券Chapter 10: Stock offerings and investor monitoringNational associationofsecurities dealers automatic quotations(nasdaq):全美證券交易商協會自動報價系統(tǒng)Antitakeover amendments:反收購修正案Poison pills:毒丸Golden parachute:金色降落傘Chapter 12: Market microstructure and strategiesMarket microstructure:市場微觀結構Margin requirement:保證金要求Margin account:保證金賬戶Maintenance margin:維持保證金Initial margin:初始保證金Margin call:追加保證金Short selling:賣空Exchange-traded funds(ETFs):交易所交易基金Chapter 13: Financial futures marketsFinancial future contract:金融期貨合約Interest rate future:利率期貨Stock index futures:股票指數期貨Commission brokers:場內經紀人Floor traders (locals):場內交易商Speculators:投機者Hedgers:套期保值者Day traders:即期交易者Position traders:遠期交易者Short hedge:空頭套期保值Basis:基差Cross-hedging:交叉套期保值Long hedge:多頭套期保值Net exposure:凈暴露Municipal bond index(MBI)futures:市政債券指數期貨Bond buyer index:債券買入者指數Dynamic asset allocation:動態(tài)資產配置Index arbitrage:指數套利Arbitrageurs:套利者Circuit breakers:斷路器Market risk:市場風險Basis risk:基差風險Liqudity risk:流動性風險Ctedit risk:信用風險Operational risk:操作風險Systemic risk;系統(tǒng)風險Currency futures contract:貨幣期貨合約Chapter 14: Options marketsCall option:看漲期權Exercise price(strike price):執(zhí)行價格Writer:期權合約的賣方In the money:實值At the money:兩平Out of the money:虛值Put option:看跌期權Covered call:有保護看漲期權Stock index option:股票指數期權Long-term equity anticipations(LEAPs):長期期權Currency call option:貨幣看漲期權Currency put option:貨幣看跌期權Chapter 15: Interest rate derivative marketsInterest rate swap:利率互換Plain anilla swap:普通互換（固定-浮動利率互換）Forward swap:遠期互換Swap option(swaptions):互換期權Callable swap:可贖回互換Putable swap:可退賣互換Zero-coupon-for-floating swap:零息互換Rate-capped swap:利率上限互換Equity swap:股權互換Sovereign risk:政治風險Interest rate cap:利率上限Inerest rate floor:利率下限Interest rate collar:利率雙限Currency swap:貨幣互換Chapter 16: Foreign exchange derivative marketsForeign exchange derivatives:外匯衍生產品Spot exchange rate:即期匯率Forward rates:遠期匯率Bretton woods era:布雷頓森林體系Smithsonian agreement:史密森協定Dirty float:骯臟浮動Freely floating system:自由浮動