金融英语案例研究论文

Financial order and financial development, innovation and financial imbalances, lack of financial supervision, financial crisis, the United States is an important reason. In addition, the financial ecology, also contributed to the financial crisis to develop in depth. Eco-financial nature, reflecting the internal and external financial elements of the value of the organic relationship between the United States is not just financial supervision and financial crisis, the crisis in the loan-to-time shown by the deterioration of social credit, lack of supervision of the market confusion, asymmetric information , The risk of moral hazard, and so is the ecological problems of the financial performance of major. 中文大意： 金融秩序与金融发展、金融创新失衡，金融监管缺位，是美国金融危机的重要原因。 此外，金融生态中的问题，也助长了金融危机进一步向纵深发展。金融生态本质上反映了金融内外部各要素之间有机的价值关系，美国金融危机不仅仅是金融监管的问题，次贷危机中所表现出的社会信用恶化、监管缺失、市场混乱、信息不对称、道德风险等，正是金融生态出现问题的重要表现。 希望对你有所帮助。

Chinese pour savings deposits into stock market2007-05-14 09:47:19 [ Big Normal Small ] CommentSHANGHAI, May 12 (Xinhua) -- More than 70 billion yuan (9.1 billion U.S. dollars) was transferred from savings accounts in Shanghai to stock trading accounts in the first four months of this year, the Shanghai branch of the People's Bank of China estimated on Saturday.In April alone, RMB-denominated savings deposits with Chinese banking institutions decreased by 8.5 billion yuan (1.1 billion dollars)."Given the continuous bullish stock market, the diversion of savings deposits will persist for a good while yet," said an official with the Shanghai branch of the Industrial and Commercial Bank of China.Shanghai is far from being an exception. The craze has challenged banking service facilities in some areas.In Changsha, capital city of central China's Hunan Province, a lady surnamed Wei found tens of thousands of yuan of her money deposited at a local outlet of the China Construction Bank failed to be transferred when she was in a hurry to buy in stocks at around 9 a.m. on April 30, the last trading day before the week-long May holiday. Her money was safe but the bank's computer crashed due to an overload of transfer requests.A similar cases occurred again with the China Construction Bank Changsha branch on May 8, the first trading day after the holiday. Company sources said the bank is testing new computer servers with a larger operating capacity.The heavy inflow of funds, strong corporate profits, and double-digit economic growth have helped drive up the key Shanghai index by more than 51 percent this year after it soared 130 percent last year.In the first trading week after the May Day holiday, the combined market value of the two bourses on the Chinese mainland swelled by 4.97 percent from April 30 to 16.89 trillion yuan (2.2 trillion dollars).Investors dived into the robust capital market. It is reported that on May 8, the first trading day after the weeklong holiday, the two bourses recorded the opening of 421,831 new stock trading accounts, including 368,400 accounts for the A-share market. This brought the total number of stock trading accounts on the two exchanges to 94.37 million.According to a monthly report jointly produced by Shanghai Securities Journal and Shenyin Wanguo Securities, in April alone a record 250 billion yuan (32.5 billion dollars) was added to the capital ready for stock trading, bringing the total on the A-share market to 980 billion yuan (127.3 billion dollars).The investment spree has aroused concern from the industry watchdog.In a notice released on Friday, China Securities Regulatory Commission (CSRC) urged stock exchanges, securities dealers and related authorities to educate investors about the risks of stock market investment.These institutions must make investors understand that stock markets are risky and they should be cautious in entering the market, especially those who use all their savings or pawn their apartments for loans to invest in stocks, the notice said.

经济学人：加拿大的住宅市场Finance and Economics; 财经；Canada's housing market; 加拿大的住宅市场；Time for a bigger needle; 该出手时就出手；The latest attempt to prick a bubble;戳破泡沫的最新举措；经济学人：Canada's reputation for financial regulation is starry. Its banksgot through the crisis unscathed. According to Moody's, a ratings agency, Royal Bank of Canadasits alongside HSBC and JPMorgan Chase in the top tier of global banks. And Canadianpolicymakers are old hands at pulling “macroprudential” levers of the sort now in vogue amongrich-world central banks.加拿大的金融监管一向广受赞誉。它的银行业在这场危机中做到了独善其身。根据评级机构穆迪的报告，加拿大皇家银行与汇丰银行以及摩根大通同列，跻身全球银行界的第一梯队。同时，加拿大的政策制定者也是运用宏观审慎政策的老手，这一政策如今也常被其他富国的央行使用。But questions still nag. Some say that Canada's banks are flattered by a huge indemnity offeredby Canada Mortgage and Housing Corp (CMHC), a public institution that insures mortgages witha loan-to-value ratio of more than 80%. CHMC's book grew to 567 billion Canadian Dollar(557 billion Dollar) in 2011, up from 345 billion Canadian Dollar four years earlier. And Canada'shousing market looks very frothy on some measures: The Economist's analysis of price-to-rentratios suggests that Canadian properties were about 75% above their long-run “fair value” in thefirst quarter of 2012 (see chart). Although less than 0.5% of CHMC's mortgages are in arrears, such exuberance is a worry. The central bank recently labelled housing as “the most importantdomestic risk to financial stability in Canada”.但是，仍有问题缠身。部分人士认为，加拿大的银行被加拿大抵押和住房公司（CMHC）提供的巨额补偿金美化了，CMHC是一家为贷款估值比率超过80%的抵押贷款提供保险的公共机构。在2011年，CHMC的抵押贷款额从四年前的3450亿增长到了5670亿加元（合5570亿美元）。并且，从一些指标来看，加拿大的房地产充斥着泡沫：《经济学人》以房价租金比所做的分析显示，在2012年第一季度，加拿大的物业价格高出它们的长期公允价值75%。纵然仅有低于0.5%的CHMC抵押贷款存在拖欠的情况，但这样的繁荣仍让人忧虑。最近，央行也冠以楼市 “危及加拿大金融稳定性的最大国内隐患”。Repeated efforts by policymakers to take the heat out of housing have not had a noticeableeffect. So on June 21st Jim Flaherty, the finance minister, had another go, his fourth in fouryears. Some of the new measures were cosmetic. Buyers of homes worth more than 1m Dollarhave been able to get mortgage-default insurance from CMHC with a downpayment of only 5%. In practice, it is hard to find buyers in this bracket who do not have lots of equity in their homes. But after July 9th mortgages for homes of this value will not be eligible for CMHC coverage.政策制定者们给楼市降温的不断尝试并无明显成效。于是，在6月21日，加拿大财长吉姆·费拉逖，在四年来第四次出台了一些新举措。新措施中的一些不过是表面功夫。价值过百万美元住宅的买主能得到由CMHC担保的债务违约保险以及首付仅付5%的优惠待遇。而事实上，很少有这类购房者在购房时不以大量自有资金支付价款的。不过，在6月9日之后，这类住宅将不再适用于CMHC的保险范围。Other measures have more teeth. The maximum amortisation period for a mortgage will now be25 years, down from 30. That should hurt demand: last year about 40% of new mortgages werefor terms longer than that. Refinancing a home will be allowed only up to 80% of its value, downfrom 85%. Homebuyers will have to demonstrate their housing costs are no more than 39% oftheir gross household income. On top of Mr Flaherty's measures, the Office of theSuperintendent of Financial Institutions, Canada's banking regulator, slapped a loan-to-value limitof 65% on borrowing against home equity.其他那些则更为有力。抵押贷款最长还贷期限如今将从30年降低至25年。这势必将减少需求：去年约有40%的新贷款的期限是超过25年的。允许的房屋再融资的上限从房屋价值的85%降至只有80%。购房者还须证明他们的住房支出不超过家庭总收入的39%。费拉逖的举措中，紧随其后的是，加拿大的银行监管部门，联邦金融机构监督办公室，将贷款和自有资金间的贷款估值比率的限制猛降至65%。Craig Alexander, the chief economist for TD Financial Group, estimates all this will be theequivalent of about a 1% rise in mortgage rates for most homebuyers. He believes that willproduce a slow unwinding of the housing market. If he is right, and Mr Flaherty's variousinterventions avoid the collateral damage that would be caused by an actual interest-rate rise, Canada's admirers will have another thing to swoon over.多伦多道明银行金融集团首席经济学家，克雷格·亚历山大估计，所有这些措施对于购房者而言将等同于抵押贷款利率上升1%。他认为这将促使房产市场缓慢回归。如果他的观点正确，并且费拉逖的各种干预手段能够避免可能引发实际利率上升的附带伤害，那么如此一来，加拿大的崇拜者们又将有一个可以津津乐道的话题了。