□英译汉 1.For example payments facilities through banks convenient savings and access to home loans from building
societies and car house or life insurance. ——例如银行提供的付款工具、建房互助会或储贷协会提供便利储蓄和住房信贷以及汽
车 、 房 屋 或 人 寿 保 险 。 2.All these financial institutions and markets fit together into a network which comprises the
financial system. ——
所有的这些金融机构和金融市场会聚在一起交织成网便构成了金融体系。 1.By their very nature financial
institutions attract criticism: bankers would not be doing their jobs if they did not turn down some requests for loans
and those who are denied funds sometimes feel hard done by and are vociferous in their complaints. ——金融机构天生就
容易招惹批评如果银行家不拒绝几份贷款请求那他就不是在认真工作而那些被拒绝了的借款人有时会觉得十分委屈甚至大为光火大
叫大嚷抱怨不停。 2. It is the ultimate savers and ultimate borrowers who are as it were on the periphery of the financial
system whose needs it serves provide the rationale for its existence. ——可以说最终储蓄者和最终借款人处于金融体系的最
边缘金融体系为他们的需求服务他们是金融体系存在的最根本理由。 3. For example deposits are liabilities of banks or other
institutions are generally repayable on demand or in the fairly near future and usually bear interest. ——例如存款对银行
和其他机构而言是一笔负债大多是要随时偿还或在很短的时间内偿还的并且通常要支付利息。 4. As well as claims there are also
derivative instruments-contracts relating to the prices of securities interest rates or foreign exchange rates at some
date in the future. ——除了各种权证索偿权以外还存在着各种衍生的金融工具合约它们与未来某日的证券价格、利率或汇率保持
着 某 种 联 系 。 5. Although a wide variety of financial instruments exists differing significantly in detail the major
distinctions rest on three characteristics-risk liquidity and real-value certainty that is their susceptibility to loss of value
due to inflation. ——
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虽然名目繁多的各种金融工具共同存在它们在具体细节上显著不同但主要的差异存在于三个因素特征中
风
险性、流动性及实际价值的确定性即它们相对于源于通货膨胀的价值缩水的敏感性。 6. Not all assets are marketable----fixed-
term deposits are an example----and in other cases the ease of selling and ability to obtain a reasonable price may be in
doubt. ——
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并不是所有的金融资产都是可以通过市场交易的
定期存款就是一个例子。在其他情况下出售的难易程度和取得合理
价格的能力有可能是不确定的。 7. Ordinary shares stand a good chance of doing better on this score because profits can
be expected in the end to rise roughly in line with the general price level though there may be prolonged periods when
this does not hold good. ——普通股这时便有了出色表现的机会因为可以预见利润最终会根据一般物价水平上涨的程度大体同步地
上 升 然 而 可 能 存 在 时 滞 这 个 期 间 就 不 会 马 上 见 效 而 有 好 的 表 现 。 8. Take scattered measures to loosen the connection
between changes in the money supply and inflows or outflows of gold. ——要广为采取措施以弱化货币供给变化和黄金流出
入之间的联系。 9. They become the banker for commercial banks. Theyre seen to be safe other banks will put money on
deposit with them. They become a leader of the banking community and in times of crisis its this central bank that can
assist banks who get into trouble. ——它们成为商业银行的银行。它们被认为是安全的。其它银行会把钱放在中央银行作为存款 。
中央银行成为银行界的领袖。在遭遇危机的时候正是中央银行能够为陷入困境的银行提供帮助。 10. Now theres a price to pay to
be in the club to have a central banker and that is usually there is a set of sort of informal rules grow up about the
behaviour of the other banks. They will hold a certain amount of capital theyll hold some of their liquid assets on
deposit with the central bank. If youre going to be bailed out you have to abide by convention. ——现在要为参加这个俱乐
部和拥有一个中央银行而出代价了。通常会产生一系列关于其它银行运作的非正式规则。它们需要保持一定数量的资本需要在中央
银行里存储一定的流动资产。若想得到中央银行的救助就必需遵守规则。 11. The global depression of the 1930s and the
demands for economic controls during the second world war thrust new responsibilities upon central banks. ——二十世
纪三十年代的大萧条以及第二次世界大战期间对经济进行控制的需要使中央银行背负上新的责任。 12. Whether the central bank
should be doing this and whether it actually can influence exchange rates in the face of market forces are matters of
some contention. ——中央银行是否应当采取这样的行动即对市场进行干预以及它在面对市场力量时是否真能对汇率发挥影响是需
要继续讨论的问题 13.You may recall in 1992 when you had the upheavals in the European currencies where there were a
lot of bets against the markets and a lot of money was lost on the part of a lot of countries including the Bank of
England. ——可以回想一下 1992 年欧洲货币的那场大动荡。当时许多人都逆市场而动投下大批赌注很多国家都损失了大笔的资金
包 括 英 格 兰 银 行 在 内 。 14Commission vice-chairman Jiang Dingzhi called on commercial banks to adjust the lending
structure by actively increasing loans to small enterprises saying big clients are often more risky because of their
complication and affiliation. ——中国银行业监督委员会副主席蒋定之吁请商业银行通过积极主动地增加小企业贷款来调整贷款结
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构他说大客户因其 复杂结构和关联方关系 往往更具风险性。 1.Loans to nonfinancial corporations financial corporations
such as life insurance companies and government entities state and local governments in the U.S. and foreign
governments fall into the category of institutional banking. Also included in this category are commercial real estate
financing leasing activities and factoring. ——机构银行业务是指对非金融公司、金融公司如人寿保险公司和政府机构美国的州、
当地政府和外国政府的贷款。这一类业务中还包括商业房地产融资、租赁和保付代理。 2.Corporate financing involves two
components. First is the procuring of funds for a banks customers. This can go beyond traditional bank loans to involve
the underwriting of securities though the Glass-Steagall Act limits bank activities in this area. The second area of
corporate financing involves advice on such matters as strategies for obtaining funds corporate restructuring
divestitures and acquisitions. ——公司理财涉及两个内容一是帮银行客户获取其所需的资金。公司理财业务使商业银行业务范围
超过了传统的贷款而涉足证券承销领域尽管有限制其从事证券承销的格拉斯斯蒂格尔法案。公司理财的第二个领域是提供融资策略 、
公司重组、撤资和收购方面的建议。 3.A money-market demand account is one that pays interest based on short-term
interest rates. The market for short-term debt obligations is called the money market which is how these deposits get
their name. ——
——
货币市场活期账户是按短期利率支付利息的账户。短期债务市场被称为货币市场货币市场存款的名称
货币市场
——
活期账户
也就因此而得名。 4.If a bank appears to be going to the Fed frequently to borrow relative to its previous
borrowing pattern the Fed will make an informational call to ask for an explanation for the borrowing. If there is no
subsequent improvement in the banks borrowing pattern the Fed then makes anadministrative counseling call in which
it tells the bank that it must stop its borrowing practice. ——如果一个银行频繁地借款综合这个银行从前的表现联储会询问借
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款的原因。如果银行的表现没有改善的话联储会对其进行 监管性规劝 并告之必须停止借款。 5.Once negligible in amount and
therefore worthy of no more than passing mention in banking texts off-balance sheet items of banks now amount to
trillions of dollars in the United States ——如果不考虑绝对数量那么在考察商业银行的业务时我们就不仅仅要关注银行的资产负
债表了。目前美国商业银行的表外业务已经达数十万亿美元。 Once negligible in amount and therefore worthy of no more
than passing mention in banking texts
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直译 一旦不考虑绝对数量由此仅仅忽略不提银行表内业务就是值得的或有价值的
潜
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在意思是 如果不考虑整个业务量那么我们在考虑表内业务的同时不能不关注表外业务 。 passing mention in 作动宾结构的名词性
“
词组看待因为 worthy of”
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后所接动词只能是 being done”
结构 6.Thus an option 1ike contingent claim imposes a contingent
liability on the bank the seller and endows the buyer of the commitment with an option. In a competitive market for
contingent claimsthe bank should be paid a fee at the time the contingent claim is sold that equals the value of the
option contained in that claim. Nonoption contingent claims may also involve fees for the bank but they do not
necessarily impose a contingent liability on the bank because there is a symmetry in the obligations of the bank and the
customer. ——因此一种选择权性质的或有债权给银行卖方带来了或有义务而赋予了贷款承诺购买者一种选择权。在或有债权的竞
争性市场中银行在出售或有债权的时候收取一定的费用。该笔费用在数量上等于或有债权所含选择权的价值。非选择权或有债权也
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可能涉及付给银行的费用但这种债权不一定构成银行的或有义务因为这种情况下银行与其客户的义务是对称平衡的。 句中 option
1ike”“option-1ike”
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。这种 义务的对称性 指的是在这种非选择权或有债权的贷款承诺中虽然企业没有提出贷款的主动性选择权但如
果企业按贷款承诺履行了规定的要求即履行了应当履行的义务那么银行也就有按承诺进行放款的义务 7.Banks were interested in
custom-designing contingent claims for their clients not only to strengthen customer relationships but also because
sales of contingent claims have proved to be a source of fee income. There are two popularly cited advantages of OBS
banking. First since OBS banking does not involve deposit funding cash—asset reserves are not needed and the implicit
tax of reserve requirements is avoided. Second in the past banks were not required to main capital against OBS
contingencies although they are now required to do so under the guidelines adopted with the Bank for International
Settlements BIS accord. ——银行对于为顾客设计的或有债权表示了极大的兴趣这不仅仅是为了加强客户关系而且是因为或有债权
的出售为银行提供了费用收入。OBS 业务有两个公认的优点第一由于 OBS 业务不涉及利用存款融资所以不需要现金资产准备。而且
法定准备金的隐性税收因此而可以避免。第二过去银行不必为 OBS 业务持有资本尽管目前为与国际清算银行 BIS 采纳的规定相一致