Ebook Tiếng Anh trong Tài chính Ngân hàng: Phần 2 bao gồm các bài học tiếng Anh trong lĩnh vực Tài chính và Ngân hàng thế giới như: Hệ thống dự trữ liên bang, dịch vụ ngân hàng quốc tế, Quỹ tiền tệ quốc tế IMF, đầu tư, nghiệp vụ ngân hàng tự động, phá giá tiền tệ. Mời các bạn cùng tham khảo phần 2 sau đây để biết thêm nội dung chi tiết.
Tron Bo SGK: https://bookgiaokhoa.com L m m 12 INYESTMENT (ĐẦU T ) (Phần II) TỪ VựNG y ie ld - rate of return on an investm ent (lợi nhuận đẩu tư) grow th rate - percentage a t which property increases in value (tỷ lệ tăng trưởng) op tio n - choice, alternative (quyền chọn mua bán cổ phiếu) b u llish - said of the stock m arket when prices are rising (lên giá) b e a r ish - said of stock m arket when prices are íalling (xuống giá) sIow dow n - in fla tio n - a process of rising prices (lạm phát) decrease inindustrial production and in other economic activii (sự trì trệ; lãn công) double-dỉgit (digit = number) - an amount having two digits, such as 17 (hai chữ số) d ata P r o c e s s in g - m achines th a t handle information (xử lý liệu) h igh te c h n o lo g y - scientiíic advances applied to new devicces, such as compute: calculators, etc (kỹ thuật cao) b argain - an item bought a t a price th a t the buyer considers low (món hì thương lượng) b argain -h u n ters - said of investors who buy stocks when prices are 1< (người đầu giá chứng khoán hạ) (to h u n t - to Chase anim als for food; [here] teach for eagerly) 158 Download Ebook Tai: https://downloadsachmienphi.com Tron Bo SGK: https://bookgiaokhoa.com | | c o lle c tib le s - i1 w o.rk s .o f a r t d e a le r paintings or sculpture (statues) (tác phẩm nghệ thuật) person conđucting business transactions; íbr example, a trader, a storekeeper, a broker (thương buôn) offer of money by a buyer for the purchase of something (kêu giá; giá; bỏ thầu) b id a u c tỉo n items such as works of art, stam ps, or coins (see below) th a t can be collected.especially for investm ent purposes (vật giá nhà đầu tư sưu tập) - sale of property to the person whose bid is the highest (sự bán đấu giá; đấu giá); co m m sissio n - payment for the Services of an agent or broker, usually a percentage of the value of the transaction (hoa hồng; phí) e a rn in g yield; income (money incomed) on an investm ent or in a business (lợi tức; thu nhập) - MỞ RỘNG ỉtra te g y plân of action (chiến lược) 'e c e s s io n period of tem porary economic (joblessness) (sự suy thoái) decline and unemployment The govemment vvill reveal new strategies designed to avoid a recession o a p p r e c ia te - to increase in value (tăng giá trị; tăng giá) Investors hope their property will appreciate ta m p - a piece of paper placed on an envelope or package to show th at the fee for mailing has been paid (tem; niêm) 'oin - a piece of m etal with a certain value th a t isused as currency (đồng tiền đúc) iq u id ity - ability to be converted (changed) in to cash (tính khoản) Independent nations always issue their own stam ps and coins Investors are vvorried about the declining liquidity of their investm ent holdings unce - measure of weight used in English-speaking countries, equivalent to approximately 28 grams (cân đo Anh) ounce = 28 gr) The price of an ounce of gold has declined recently 159 Download Ebook Tai: https://downloadsachmienphi.com Tron Bo SGK: https://bookgiaokhoa.com B ổSU N G T Ừ V ựN G b u ll - an investor who counts on prices rising when he or she stocks (người đầu giá lên; người mua khống) bear - an investor who counts on prices íalling when he or she stocks (người đầu ca giá xuống ; người bán khống) ¥ \/ THựC HÀNH TỪ VựNG ĐIỀN VÀO CHỖ TRỐNG CÁC CÂU SAU I’m going to buy these stocks because they’ve been shovving a good a) earnings c) bargain b) bullish c) double-digit Beíore acquiring more collectibles, Phil w ants to check th eir _ a) bargain b) bid We can hardly pay for the necessities of life these days w ith this inílation a) declining c) commission How much was his _ on th a t painting a t the auction? a) ỷluctuation b) growth rate b) strategy c) liqidity Even dealers in gold coins and jewelry are being badly aífect( th e _ m arket a) bearish b) recession c) sloivdoum 160 Download Ebook Tai: https://downloadsachmienphi.com Tron Bo SGK: https://bookgiaokhoa.com : INVESTMENT (Part Two) t' (Đ Ầ U T (P hần H ai)) ti I) V f O’Brein định nghe ý kiến Carol Levine’s advice Anh ta có hẹn nhà mơi giới Jeff H unter dể bàn việc dầu tư tiền bạc Bây dang ỊŨvăn phòng làm việc Mr Hunter ừ.H Hello, Mr ’Brien It’s good to m eet you Have a Seat, please Ir.O’B Thank you As you may know, I wanted some advice about how to invest my aunt’s money I have alm ost no experience with investm ent and I feel I don’t have enough knowledge or information to make intelligent choices One of your clients, a Ms Carol Levine, recommended th a t I see you Ir.H Well, I can understand your concem There are m any investm ent possibilities, and conditions íluctuate so much nowadays lr.O ’B The íĩrst area I thought about was stocks My wife and I have a few shares in utility companies already, so stocks are not completely strange to me Ir.H I should tell you th a t th ere are two ways to look a t investing in stocks [r.O’B First, there are long-term investments.You can put your money into stable companies with a relatively secure yield Or, you can concentrate on buying stocks th a t promise a good, rapid growth rate and resell them a t a proíit r.H Well, I guess the second option m eans th a t I’d have to watch the stock m arket pretty carefully I know I don’t have tim e for that r.O’B You’re right.Your investm ent strategies would depend on w hether you were facing a bullish or bearish market.You’d also have to consider factors in the economy such as a slowdown or a recession, đouble-digit inílation, in terest rates, and other things th a t aíTect the companies you invest in r.H I’d like to know w hat kind of stocks you’re been recommending Which sectors of the economy have been strong lately? W hat are the areas I ought to th in k about? 161 Download Ebook Tai: https://downloadsachmienphi.com Tron Bo SGK: https://bookgiaokhoa.com Mr.O’B Well, we’ve had sọme ẹpod rẹgidtệ Ị^ h -y ieM in g ban k sha recently, and experts are predicting these will appreciate quỉckỉy th e n ear future The d a ta Processing companies have been doing Y and high technogoly stpclp have also had high earnings M r.H I’ve read th a t th e m arket has been p retty bearỉsh lately I t m ust b good tim e for bargain-hunter to ỉnvest Mr.O’B True, but bargain-hunters m ustn’t ju st buy stocks unless th ẹy mj sure th a t th e companies they invest ỉn can m aỉntaỉn th eir grov through diíĩĩcult tim es O thenvise those investors m ay be íaced w declining values Mr.H W hat yổu know about collectibles ? I thought th a t they m ight offe! some interesting possibilities for investm ent Mr.O’B uVe got to be carul w ith coUectiblẽs nowadays W orks c art,stam ps and coins are ỉéss ỉn dem anđ now and aré proving rathel diíTicult to sell Prices are therefore dropping, and owners collectibles are íinding th e ir liquidity limited M r.H I can’t believe it I t doesn’t seem very long ago th a t dealers auction-housee were m aking very big commissions I rem em ber son very high bids on paintings about yẹar ago Mr.O,B Yes, but th t has changed Even gold jewelry, which was in great de because of th e steadily rísing price of gold, has become less popular as value of an ounce of gold has íalỉen over the Ịast sỉx months M r.H Well You’ve given me spme valuable inỉbrm ation Let me ta lk th in I over w ith my wife and r il talk to you again next week Mr.O,B Good Let’s see if we can m ake some money for you! TRẮC NGHIỆM a) Dựa học, tim câu sai Phil ’B rien already owned some stock when he consulted Jeff Huntểr Mr Ơ B rien prefers th e option th a t requires him to w atch th e s to l m arket carefully His broker advises Mr Ơ B rien th a t investm ent stategies depend I w hether th e stock m arket is bullish or bearish Mr Hunter suggests th at inAation and interest, rates aỉso afiect the market 162 Download Ebook Tai: https://downloadsachmienphi.com I Tron Bo SGK: https://bookgiaokhoa.com í lị Mr H unter ia uncertain w hether high-yielding bank shares will continue to appreciate D ata Processing and high technology stocks have had a good yield recentiy, according to Mr Hunter I Mr Ơ B rien has read th a t prices have been rising in the m arket lately I Mr H unter doesn’t reconunend investing in colỉectibles because they’re no longer as easy to seil as they were before 1,9, Paintings, unlike stam ps and coins, have not lost any of their liquidity 10 H er broker thinks th a t Mrs ’Brien should sell her gold jewelry because of the steadily rising price of gold T rả lờ i c c c â u h ỏ i s a u W hat are the two ways to look a t investing in stocks? W hat are the factors th a t should be considered by someone who is developing his inevestm ent strategies? W hat kinds of stocks have been doing well lately? W hat bargain-hunting investors who buy stocks in a bearish m arket have to be careful of? W hat are collectibles? Why aren’t they good investm ent nowadays? B ổ su n g Viết đoạn ngắn mô tả vài chiến lược đầu tư mà người áp dụng thị trường chứng khốn í ", XÂY DựNG TỪ VựNG K ế t h ợ p Tìm từ cột phải có nghĩa tương tự từ cột trái slowdown a yield choicce b process of rising prices sale by bids c declinỉng decreasing d liquidity inílation e payment for broker’s serevices rate of retu m on investm ent f option commsission g auction abiỉity to be changed into cash h a decrease in economic activity 163 Download Ebook Tai: https://downloadsachmienphi.com b) Tron Bo SGK: https://bookgiaokhoa.com V iế t lạ i c â u Thay th ế từ gạch viết lại câu sau You should look into your alternatives beíore you invest in these stocks M r.Halpem is an investor who counts on pricces íallũig in the stock m arkat This stock prom ises a very good percentạgẹ of increase in value The govem m ent is not dealing very successfully w ith th is period tem pọrarv economic decline and iineniplovTTìRnt We’re hoping our shares in the data Processing company will give us high income * Cathy Caruso is an investor who buvs stocks when prices rise The broker told me my stam ps and coins would be quite diíTcult to se rith t now He’s selling these works of a rt now because he’s aíraỉd th eir abilitv to h converted into cash will be decreasing VĂN PHẠM ĐỘNG TỪ KHIẾM KHUYẾT f I should You m ust He ought to She may < We m ight They can ^ couỉd > consider other investm ent strategies J 164 Download Ebook Tai: https://downloadsachmienphi.com Tron Bo SGK: https://bookgiaokhoa.com I f should not (shouldn’t ) You must not He ought to ( *‘ ) may not (* ' ) She < (mustn’t) invest in We might not (might not) They cannot (can’t) ^ could not (couldn’t) -S Should I Must you Ought to : 'ị• May ^ collectibles now he she Might we Can they ^ Could t study the stock m arket careM ly? J Shouldn’t I (Should I not) ^ M ustn’t I (Must I not) M ightn’t I (Migh I not) Can’t I (Can I not) Couldn’t I (Could I not) /*■ see a broker? MỘT VÀI NGHĨA KHÁC CỦA ĐỘNG TỪ KHIẾM KHUYẾT We have to earn more = We m ust eam more We don’t have to eam more * We m ustn’t e am more We don’t have to eam more = It isn’t necessary for us to e am more We m ustn’t e am more = It is íorbidden for us to eam more 165 Download Ebook Tai: https://downloadsachmienphi.com Tron Bo SGK: https://bookgiaokhoa.com We m ust e am more = We have tọ earn more It would seem th a t we eam ed more May I go? = Do I have perm ission to go? Can I go? = Do I have perm ission to go? Am I able to go? This stock may appreciate = th is stock m ight appreciate We should study th e m arket = we ought to study the m arket Can I go? = Could I go? (Asks perm ission) } THựC HÀNH CẤU TRÚC CÂU • a) Bạn m ột nhà đầu tư thị trường chứng khốn, bạn đến m< nhà m giới đ ể x ỉn ý kiến Hãy đổi sang câu hỏi, sử dụng động ti khiếm k h uyết should Ví dụ: I invest money now —> Should I invest money now? I consider several options My wife and I invest in stocks w ith a pretty secure yield I buy stocks in a bearish m arket I take into account double-digit inílation We invest in data Processing companies I concentrate on high technology stock I look for bargains in the m arket We buy collectibìès b) Trả lời câu h ỏi dã làm tập A, sử dụng động từ ought to Ví dụ: “Should I invest money now?” “Yes, you ought to invest money now.” c) Trả lời câu hỏi nhà m ôi giới họ kiểm tra bạn 166 Download Ebook Tai: https://downloadsachmienphi.com Tron Bo SGK: https://bookgiaokhoa.com Ví dụ: “Can I sell 20% of your shares in the electríc company?" “Yes, you may Bell 20% of those sharea.” Can I buy some high-yielding bank shares for you? Can I auggest some new investm ent strategiea to you? í Can I use a part of your earnings to buy high technology stocka? Can I also invest some of your earnings in data Processing companies? Can I speculate for you on some stocks th a t promise a rapid growth te? Can I look into collectibles for you? I) Biên dối c&u sau, sử dụng dộng từ m ay d ê diễn đạt đốn Ví dụ: He wants to consider his options -> He may w ant to conrider his options They wait until interest rates fall I watch the stock m arket very carefully We’re facing a bullish m arket now Ms Chen needs some advice on investỉng The brokers recommend high technology stocks to you They’re many bargain-hunters in the m arket Paintings prove diílĩcult to sell Bank shares offer some good possibiỉities ) Đọc lọỉ tập D, biến dổi lại c&u, sử dụng m ight d ể d iễn dạt đốn Ví dụ: He wants to consider his options -» He m ight w ant to consider his options Trả lời câu hỏi sau, sử dụng dộng từ m ight have + p.p d ể diễn đạt đốn Ví dụ: "Did Ned earn a lot of money?” “I’m not sure He m ỉght have earned a lot of money.” Did Ned buy a lot of stocks? Did he consult a brokerage íìrm? Did he study the stock m arket carefully? Did Ned invest in stocks with a relatively secure yield? 167 Download Ebook Tai: https://downloadsachmienphi.com Tron Bo SGK: https://bookgiaokhoa.com Private equity íinance / Beteiligungsfinanzierung / íinancement par prise de participations / finanziamento di partecipazioni Equity íinancing provided by the bank to newly established or fast-growin companies with a sound credit rating Also reíerred to as: equity banking Protessional traders/Beruíshandel proíessionali / opérateurs proíessionnels ị operatori The banks (Switzeriand) and brokers directly represented on the securitie markets and stock exchanges and vvhich trade in bonds and stocks for their ow| account or that of clients * Protit and loss account (UK); income statement (USA) / GewinnVerlustrechnung / compte de pertes et proíits / conto proíitti e perdite }■ unc A list comparing all expense items and all income items of a company for the past tinancial year Provisions / Rũckstellungen / provisions / accantonamenti Liability item in the balance sheet charged to the proíit and loss account to cover tuture liabilities or anticipated losses Frequently listed under other liabilities in the balance sheet Provisions for risks in the lending business, and in toreign exchange trading are of particular signiticance for banks Specitic provisions are set aside to cover particular risks, while continaencv (del credere) reserves or provisions cover general expected losses which cannot yet be specified in detail Contrary to reserves, provisions are not allocated from the net protit but from operating protit Proxy voting right / Depotstimmrecht der Banken / droit de vote des banques afférent aux actions en dépôt / diritto di voto per azioni in deposito Proxy given to banks to vote the shares of third parties lodged with them for satekeeping, administration and management at the meetings of shareholders Quasi-bank / Parabank / Etablissement parabancaire / Istituto parabancario An institution which offers bank-like Services, e.g asset management and loans, but which does not have a banking licence and is thus not accountable to the s supervisory authorities Quotation list / Kursblatt / cote des valeurs mobilières / listino di borsa Publication listing the stock exchange prices of shares and bonds 262 Download Ebook Tai: https://downloadsachmienphi.com Tron Bo SGK: https://bookgiaokhoa.com Retrocession / Retrozession / rétrocession / retrocessione ‘ Assignment by a bank of part of the commission received to another bank or to an agent (intermediary) which has participated in the transaction Retrocession is common in bond undenvríting and syndicate operations Revolving credỉt / revolvierender Kredit / crédit renouvelable / credito revolving A credit which can be automatically renewed without additional negotiation ị Rho / Rho / Rhữ / Rho , ik A measure of an option's sensitivity to changes in interest rates (or changes in dividend payments), i.e the extent to which the option's value changes as a result of a shift in interest rates on risk-free investment Instruments Ring bank / Ringbank / banque admise la corbeỉlle / banca ammessa alla corbeille ■ Bank licensed to trade securities on a stock market ring The bank is represented on the rịng by its rina traderís) stock exchanae bank Risk concentration / Klumpenrislko / Gros risque / Grande rischio ! / The granting concentration resulting from investors (risk of an excessively large loan to a single bank Client (risk on the asset sidẹ), or the rìsk of a massive outflow of liquidity a shift from multiple smaller creditors to a few large institutional concentratlon on the liability side) Risk paper share Risk spread / Risikoverteilung / répartition des risques / ripartizione dei rischi I Distributing the risks of losses or reductions in income by spreading the Capital investments or the loans granted to third parties among a number of investment objects or borrowers The aim is to minimize risk exposure by scattering investments (or loans) vvidely among different countries, regions, currencies, industries and indlvidual companies diversitìcation ROE return on eauitv Roll-over credit / Roll-over-Kredit / crédit roll-over / credito roll-over Medium- to long-term credit with a tloating interest rate which is usually reset every 3, or 12 months The basis for the periodic interest rate adjustment is, for instance, the London Interbank Offered Rate (LIBORt for short-term bonrowing on the Euromarket - Download Ebook Tai: https://downloadsachmienphi.com 265 Tron Bo SGK: https://bookgiaokhoa.com will buy a specific quantity of Securities for a set period and subsequentl) i sell them back to the bank it bought them off Also called repos The acceptance of securities (such as equity paper) by a bank or tin a n cirg I institution for a limited period, with the depositor or a third party u n d ertakin l to repurchase the relevant securities after a stipulated period Rescheduling agreement / Schuldenkonsolidierungsabkommen consolidation / accordo di consolidamento / accord di Agreement reached with borrowers, usually heavily indebted developini countries, to lengthen maturities, defer loan Principal payments or reduce thi interest rate of existing debt, especially by transtorming short-tẹrm credits inti medium- or long-term lendings moratorium ệ Rescriptions / Reskriptionen / rescriptions / rescrizioni Swiss Treasury notes issued by the Federal Government and Treasury bills issued by the cantons and communities They can run for up to years Generally employed by public authorities to raise íunds temporarily Used in part also to achieve cyclical or Capital market objectives, e.g if the Contederation sells sterilization rescriptions to the banks in order to mop up liquidity Suchi rescriptions can sometimes be pledged by the bank with the Swiss National Bank for short terms (rẹpurchase ạgreements) or discounted like other rescriptions during their remaining life of three months Reserve for bad debts / Debitorenreserve / réserves pour débiteurs douteux / fondo perdite su crediti A reserve set aside in the books of a business to provide for the normal or expected amount of bad debt losses which may be incurred over a period of time Also known as provision for doubttul accounts (del credere) \ Residual purchase price íinancing / Kaufpreisrestfỉnanzierung / financement du solde du prix de vente / finanziamento del prezzo d'acquisto residuo Instalment (hire-purchase) loan obtained by the buyer for tinancing medium-term investment aíter downpayment Mostly with ovvnership reserved by the bank Retail banking / Retail-Geschátt / affaires grand public / operazioni retail Bulk bank business The main objective of retail banking is to provide low-cost li banking Services in line with customers' needs by offering standardized Products í and simpliíying sales processes Also reterred to as consumer banking Retained correspondence; correspondence held by bank I banklagemd / banque Ẹ restante / fermo banca Correspondence from the bank to the customer retained at the bank at the H customeris written instructions Mail retained in this manner is handed out or forwarded to the customer only at his request : 264 Download Ebook Tai: https://downloadsachmienphi.com Tron Bo SGK: https://bookgiaokhoa.com iríngs bank / Sparkasse / caisse cTépargne / cassa di risparmio Depository íinancial institution that mainly accepts interest-bearing savings deposits of varying amounts Swiss Bank CorDoration chedule of creditors / Kollokationsplan / état de collocation / graduatoria Schedule of creditor ranking, prepared by the bankruptcy trustee or the debt collection offìce rip certitlcate / Lleferschein / bulletin de livraison / bollettino dl consegna Written obligation on the part of the bank acting as paying agent to hand over the dinitive certitìcates to the subscriber as soon as they have been issued I.E & o Latin "salve errore et omissione" (errors and omissions excepted) Request addressed to the customer to examine the bank statement caretully, with the bank reserving the ríght to correct omissions and errors at a subsequent date Sealed satekeeping account / geschlossenes Depot I dépôt fermé / deposito chiuso Saíekeeping account where valuables or documents are deposited, as a rule vvrapped and sealed, exclusively for safe custody Opposite: ọpẹn safekeepina account Seasonal loan / Saisonkredit / crédlt saỉsonnỉer / credito stagionale Credit granted to bridge seasonal needs for funds as experienced by certaín types of enterprises, e.g íashion houses Special form of working Capital credit | ecom Sega Communication System Online settlement System devised as a joint technical plaưorm for SEGA and Intersettie In conjunction with the SỊC banking clearing System it allows the fully automatic settlement and clearing of exchange ỏrders ecurities eligible for discount by and/or accepted as collateral by the Swiss ational Bank / natlonalbanktãhige Wertpapiere / titres admis au nantlssement par la Banque nationale / titoli accettatl in pegno dalla Banca nazionale g ,' Bills/securítíes discounted and accepted as collateral by the Swiss National Bank bill eliaible for National Bank discount % Download Ebook Tai: https://downloadsachmienphi.com 267 Tron Bo SGK: https://bookgiaokhoa.com Safe deposit box / Tresoríach / compartiment de coffre-fort / cassetta di sicurezza ý Lockable deposit box which is located in the vault and can be leased out to thí bank's customers Safekeeping account; custody account / Depot / dépôt / deposito An account used to sateguard valuables or securities In a sealed satekeepinq account the valuables are surrendered for safe custody, wrapped or sealed Thiá kind of account is suitable for valuables vvhich not require management J administration, such as jewelry or documents In an ọpen satekeeping accounti the safe custody íunction is combined with an agreement with the bank t( manage or administer the contents, usually securities manaaed account 'ị Saíekeeping account analysis; custody account analysỉs Depotbewertung / analyse de porteteuille / analisi di portatoglio / Depotanalyse; Analysis of a securities saíekeeping account according to market value, income and industry-, country- and currency-specitic risk exposure Satekeeping account bookkeeping / Depotbuchhaltung / comptabilité titres / contabilità titoli Keeping a record of all securities deposited with a bank by satekeeping account number and within the satekeeping accounts by securities number la Satekeeping account charges; custody charges / Depotgebiihr / droit de garde / diritti di custodia custodv price Salary account I Gehaltskonto; Salãrkonto / compte salaire / conto salario b Current account for persons regularty receiving a vvage/salary or retirement benetit Salary accounts carry higher interest rates than regular current accounts Savings account for young people / Jugendsparkonto / compte d'épargne» I Jeunesse ị conto di risparmio Gioventù Savings account for young people offering a preíerential rate of interest, a special youth card, and extra benehts Savings account for vested pension beneíits / Freiziigigkeitssparkonto / compte de ||L libre passage / conto di libero passaggio L Preterential rate savings account for occupational pension assets Principal and rjiỉ interest are tax-free until paid out; interest is exempt from withholding tax Benetits ‘f paid out are subject to a reduced tax rate Principal may be used to purchase ì resỉdential property for the beneficiary's own use or to amortize mortgages Download Ebook Tai: https://downloadsachmienphi.com Tron Bo SGK: https://bookgiaokhoa.com ế Swiss National Bank ocial accounting; social report / Sozialbilanz / bilan social / bilancio sociale * The reporting of the cost incurred in complying with anti-pollution, safety and health and other socially beneticial requirements, and, more generally, the impact of a business entity on, and its endeavours to protect, socìety, its amenities and the environment 3) OFFEX f (Soffex) Swiss Options and Financia! Futures Exchange AG, Zurich Subsidiary of the Swiss Exchanae SOFFEX operates an exchange and a clearing house for the electronic trading and settlement of derivative instruments Merged with DTB in 1998 to form Eurex Switzerland QDtions exchanae Eurex » ỉoft currency; weak currency / weiche Wáhrung / devise íaible / valuta debole Currencv representing a less desirable períormance on the torex markets than other currencies Soft currency countries tend to vvitness trequent currency devaluations, balance of payments difficulties or political instability Contrast with Hard or strona currencv ỉovereign English gold coin with a nominal (face) value of GBP Coins minted after 1974 with the picture of Queen Elizabeth II are known as "new sovereigns" Special dravving right (SDR) / Sonderziehungsrecht (SZR) / droit de tirage spécial (DTS) / Diritto speciale di prelievo (DSP) ị r Payment medium and reserve assets used intemationally for transactions between Central banks and issued by the International Monetarv Fund (IMF) ỉo its member nations An SDR does not have the character of an actual currency unit but is primarily a neutral unit of account The value of the SDR is tixed daily on the basis of a basket of exchange rates on the London spot currency market The currency basket is presently made up as follows: USD (40% weighting), DEM (21%), JPY (17%), FRF (11 %), GBP (11 %) SPI Swiss Pertormance Index Spot market cash market Download Ebook Tai: https://downloadsachmienphi.com 269 Tron Bo SGK: https://bookgiaokhoa.com Securities investment fund / Wertschriftenfonds ị fonds de placement en vale mobilières / fondo d'investimento in valori mobiliari Investment fund other securities whose assets are invested in stocks, bonds and/( Securities lending and borrovving The lending of securities for an indeíinite or deíinite period of time again collateral and at a discount This form of íinancial transaction is especial suitable for large clients In Europe, CEDEL and Euroclear provide administrativ and technical Services for securities lending operations Securities porttolio / Wertschriftenportefeuille / porteíeuille titres / portaíoglio titoli The total security holdings of an individual customer for whose account they ar deposited at the bank Securitization / Securitization / mobiliérisation / securitization ĩh e growing trend of corporate borrowers to issue marketable securities o the íinancial markets as opposed to raising bank loans and credit from othe tinancial institutions Short-term liabilities / kurzfristige Verbindlichkeiten / dettes court terme / debiti I breve termine i liabilitỉes SIC Swiss Interbank Clearing System Electronic interbank clearing svstem It processes to payment transíers among the banks under the supervision of the SNB p Signature card / Unterschriftenkarte / carte de signatures / cartoncino delle firme The document deposited at the bank which bears the signature of the account |< deposit holder, together with those of the authorized agents It also deíineỂ' powers of signature Silent coníirmation / stille Bestãtigung / coníirmation tracite / coníerma tacita Expresston used in connection with letters of credit A notitying bank appends itạ‘1 coníirmation to a transaction without being instructed to so by the opening bank documentarv credit Snake * to European currencv snake 268 Download Ebook Tai: https://downloadsachmienphi.com I Tron Bo SGK: https://bookgiaokhoa.com Subordínated issues / nachrangige Anleihen / emprunts de rang postérieur / jL ĩrestĩto dl rango posteriore * f Issues whose holders rank last in the event the borrovver goes bankrupt Banks in Switzerland can count up to 100% of subordinated issues with a residual term of years as part of their equity Capital; this percentage decreases as the term gets shorter Sub-participation / Unterbeteiligung / sous-partition / sottopartecipazione )tj Switzerland: where a bank which is not a member of the underwriting syndicate participates in an issue; a syndicate member transters part of its quota to the sub-participating bank Eurocapital market issues: the banks and brokers with sub-participations are called selling group members and are not mentioned in the prospectus Lending, e.g financial loans: sub-participations are created by the assianment of credit tranches (in Switzerland pursuant to Article 164 ff of the Svviss Federal Code of Obligations) Sa j Jaị Ịi im &■ ị0l| Subscription period / Zeichnungsfrist / période de souscription / periodo di 8ottoscrizione y , The period during vvhich subscriptions to a new securities issue can be accepted by the subscribing agent (usually a bank) / Summary blll entorcement procedure / Wechselstrenge / poursuite pour effets de change / rigore camblario e| ! Especially rapid summary bankruptcy proceedings brought against bill and check debtors whose names are entered in the commercial reaỉster Supervisory authoritles / Autsichtsbehõrde / autorité de surveillance / autorità di vigilanza Legally appointed body whose remit is to supervise the activities of íinancial institutions In Switzerland, the Swiss Federal Banking Commission (FBCI is responsible for monitoring banks and investment funds íi Surety credit; guarantee credit / Avalkredỉt / crédit d'aval / credito di avallo A credit for which a bank assumes liability under a bill guarantee up to a certain amount (guarantee line) A credit for vvhich the bank assumes liability to third parties for the obligations of its customers (such as work períormed by craítsmen) up to a specitied amount Ị Download Ebook Tai: https://downloadsachmienphi.com 271 Tron Bo SGK: https://bookgiaokhoa.com stand-by credit / Stand-by-Kredit / crédit stand-by / credito stand-by Credit line granted against payment commission) for a speciíied term of compensation Bridging loan extended to a country or Central bank facing balance-of payments difficulties (e.g the stand-by tacilities of the ỊMF) (commitmei stand-by letter of credit A common form of bank guarantee in the USA and Asia May be used for a types of guarantee, in particular as a payment guarantee It also serves as security for the event a third party fails to meet a promised obligatipn V ẽ standing order / Dauerauttrag / ordre permanent / ordine permanente Instruction issued by the customer for the regular payment by the bank (usuallyl until expressly revoked) of certain obligations, such as rent, Insurance premiums and the like Sterilization rescriptions / Sterilisierungsreskriptionen / rescriptions de stérilisation / rescrizioni di sterilizzazione Short- to medium-term monev market paper issued by the State or the centra bank in order to mop up excess liquidity stock exchange bank/Bồrsenbank/banque opérant en bourse/banca operante in borsa Bank that trades in securities on the stock exchange In the case of a stocki exchange that trades under the la criée System, the term ring bank is used, i.e.í a bank authorized to trade on the rịng ị Ịỉ Stock index tutures Forward contracts based on the development of specitic stock exchange indexes í tinancial tutures STOXX (Dow Jones STOXX) Group of European eauitv indices developed by the Swiss ĩ Exchanae Deutsche Bùrse AG and Euronext Paris jointly with Dow Jones and ĩ Company Inc In addition to a Total Market Index and blue chip indices íoric vvestern Europe and the Eurozone, STO XX also has 18 cross-border sector