文档金融专业英语翻译

□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. ——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. ——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”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”。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采纳的规定相一致银行必

须持有一定数量与表外业务对称的资本。 一般而言对于银行准备金要求活期存款部分因其流动性强而要求存入央行的准备比例较高目的是防止银行资产流动性不足或流动性危机的一种预防性措施——因此银行存入央行的准备金好比是一笔“现金资产准备”。而所谓“法定准备金的隐性税收”指的是如果银行不存入央行或少存入央行这笔“现金资产准备”银行就可利用这笔资金进行盈利性资产业务而获取资产收益由于法定准备不可动用相当于失去了这种盈利机会这种机会的丧失意味着是一种“隐性税收” 8.Two common formulas are: additive and multiplicative. The additive version of the variable-rate loan commitment stipulates a borrowing rate that is an index rate at the time of takedown plus a fixed add-on. The less frequently used multiplicative version stipulates a borrowing rate that is an index rate at the time of takedown times a constant. ——两个通用的公式是附加法和倍乘法。浮动利率贷款承诺的附加法计算公式是以贷款执行时一个指标利率加上某一固定的附加利率得出贷款利率。相对使用较少的倍乘法用贷款执行时的一个指标利率乘以一个常数得出贷款利率。 9.Relative to a fixed-rate commitment a variable-rate commitment does not provide the customer protection against stochastic fluctuations in the index rate. However as long as there is an element of fixing in the borrowing rate the commitment will have some insurance value to the customer. In the prime-plus commitment the add-on is held fixed. ——与固定利率贷款承诺相比浮动利率贷款承诺没有给客户提供防止指标利率随机波动的保护。然而只要存在着借款利率中的固定因素贷款承诺对于客户仍有某种保险价值。在基准利率加附加利率的承诺中附加利率是固定不变的。 10.In both cases the customer’s commitment borrowing rate at the time of commitment takedown may be lower than the spot rate it would have faced in the absence of the commitment. Although a loan commitment obliges a bank to lend at a rate below the borrower’s spot rate the bank usually has some latitude in determining whether or not to honor a commitment even in the case of the most formal

agreement. This latitude arises from the adoption of a material adverse change” MAC clause as part of the commitment covenants. ——在上述两种情况下在承诺执行期客户获得的承诺借款利率有可能低于没有贷款承诺情况下可能面临的即期利率。尽管贷款承诺使银行有义务以低于借款者的即期利率的利率提供贷款但银行通常有决定是否履行承诺的自由即使是在最正式的协议的情况下。这种自由源于在贷款承诺条款中采纳了“重大不利变化”条款。 11.What constitutes material deterioration can of course become a legal issue should the denied customer decide to challenge the bank’s assessment through litigation. This clause does however introduce an element of discretion into the loan commitment contract. ——当然什么情况构成重大恶化常成为一个法律争端如果被拒绝的借款者决定通过法律诉讼向银行对其财务能力的评估提出抗辩的话。然而这一条款确实在贷款承诺协议中引入了自由决策的因素。