金融英语结课论文

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 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。

income, profit, earnings，interest ： 收入，利润，收益，利息 cost, expense, charge ： 成本，费用，收费

What I Learn in the Financial English ClassToday's world is the world of economics, and in this society, which is full of financial crisis, we need to use more professional English to communicate with the people all over the 'm so grateful that the university would let us learn financial English as a course. Through this course, I have not only improved my standard of English, but also enrich my financial knowledge, as well as my communication ’ve never known I can become more professional at the knowledge of financial, securities, credit, accounting, economics and statistics in this course. At first, I just wanted to learn English well, and I never think about the knowledge of the economics, which has become enriched as this course, I think the most meaningful lesson is about securities investment, I learned to read and ask foreign stock markets, as well as the financial statements and the stock market with the contacts of the companyIn conclusion, I think that the financial English course makes sense, which gives us a window to explore the world. 我在金融英语课上学到的 当今的世界是经济的世界，在这个充满金融危机的当代社会，我们需要用更为专业的英语进行沟通。 我很庆幸学校开设了金融英语这门课。通过这门课，我不仅提高了英语水平，也丰富了金融知识，提高了交流能力。 在这门课上，我对金融、证券、信贷、会计、经济、统计的知识更加熟练，超越了我的预期。原本只是想学好英语，没想到这些有关经济专业的知识也变得丰富起来。 在这门课中，我认为最有意义的是关于证券投资那课，我学会了阅读和询问国外的股市，以及财务报表和股市、公司的联系。 总之，我认为金融英语这门课很有意义，使我们展望世界的一扇窗。

Planning a share portfolioTere is no shortage of tipsters around offering"get-rich-quick' if you are a serious private investor,leave the Las Vegas mentality to those with money to serious investor needs a proper'portfolio'-a well-planned selection of investments,with a definite structure and a clear exactly how does a newcomer to the stock market go about achieving that?5 Well,if you go to five reputable stock brokers and ask them what you should do with your money,you're likely to get five different answers-even if you give all the relevant infoumation about your age,family,finances and what you want from your is no one "right‘way to structure a undoubtedly some wrong ways,and you can be sure that none of our five advisers would have suggested sinking all(or perhaps any)of your money into Periwigs*.10 so what should you do?We'll assume that you have sorted out the basics-like mortgages,pensions,insurance and access to sufficient cash should then establish your own individual are partly a matter of personal circumstances,partly a matter of psychology. For instance,if you are older you have less time to recover from any major losses,and you may well wish to boost your pension preserving your capital and generating extra income are your main this ease,you'd probably construct a portfolio with some shares (but not high risk ones),along with gilts,cash deposits,and perhaps convertibles or the income shares of split capital investment trusts. If you are younger,and in a solid financial position,you may decide to take an a ggressive approach-but only if you're blessed with a sanguine disposition and won't suffer sleepless nights over share you recognize yourself in this description,you might include a couple ofheady growth stocks in your 20 portfolio,alongside your more pedestrian you have decided on your investment aims,you can'then decide where to put your golden rule here is spread your risk-if you put all of *‘Periwigs’is the mame of a fictitious company.译文： 规划股份投资 我们周围不乏情报贩子，向人们提供迅速发财至富的机遇害。但是，如果你是一个认真的私人投资者，就把拉斯韦加斯的心态留给那些有钱可供挥霍的人。认真的投资者需要一份正规的投资组合表——一种计划很周密的投资选择，结构明确，目标清晰。但是，一个股票市场的新手又如何能做到这一点呢？ 如果你去向5位有威望的股票经纪人咨询，询问你应该如何使用你的资金，你很可能得到5种不同的答复，即使你提供了所有关于你的年龄\、、、，家庭、财源和你想从投资中获得的好处的信息。这是个道德问题吗？没有一种安全“正确”的方法来排列这种投资组合，然而，却毫无疑问地有几种错误的方法。可以相信5位经纪人中不会有人建议你把全部（或一部分）资金投入佩里威格斯公司。 那么你该怎么做呢？我们假定你已把基本情况弄清楚了，如抵押贷款、养老金、保险金和动用现金储备的机会。然后，你一定要建立起自己的目标。这里一方面是个人所处的环境，另一方面是信收理学的问题。 比如说，如果你年纪较大，你从重大投资损失中恢复过来的时间就较少，你就很希望能够提高你的养老金收入。因此，你的首要任务就是保护你的资金和引发额外的收入。在这种情况下，你大概想制定出一份包括某些股份（但不是风险很大的股份）的投资组合，同时还有高度可靠的证券、现金储蓄，可能还有可换证券，或分割资本信托公司的所得股。 如果你年轻一些，并且经济状况可靠，你可能会采取一种积极的方式——你必须性格开朗，不会因股票价格的浮动而夜不能眠。如果你觉得你的情况是这样的话，你可在投资组合中包括几项有令人陶醉的增值前景的增长股，和其他比较平淡的投资项目放在一起。一旦你的投资目标确立以后，你就可以决定你的钱投向何处。这里的指导原则是：分散你的投资风险。如果你把所有资金投入佩里威格斯国际公司，你就把自己当成了命运的人质。