北大金融学课件(英文版)第2章(4课时)
CHAPTER 2
PAYMENTS AMONG NATIONS
2008 all copy rights reserved.
00-2
What’s the Balance of Payment?
• A set of accounts recording all flows of value between a nation’s residents and the residents of the rest of the world during a period of time. • The balance of payments is a statistical statement that systematically summarizes, for a specific period of time, the economic transactions of an economy with the rest of the world. (IMF definition)
2008 all copy rights reserved.
• Capital outflow (debit)
00-11
Transaction 2
• Some Brazilian tourists spend $6 mn in U.S., paying for their hotels and meals through New York bank deposits.
2008 all copy rights reserved.
00-6
Principles for Double-Entry
• Credit entries:
Exports of goods and services Capital inflow Income being paid
• Debit entries:
2008 all copy rights reserved.
00-4
Six Categories
• • • • • Merchandise trade flows (goods flows) Service flows Income flows Unilateral transfers (gifts) Private capital flows (nonofficial flows of financial assets) • Official reserve asset flows
2008 all copy rights reserved.
00-15
A Simple Balance of Payment Account
Flows & Balance Merchandise trade flows Service flows Income flows Unilateral transfers Private capital flows Official reserve asset flows Credit(+) Debit(-)
(19+3)=22 6 15 3 (54+15)=69 6 19 54
Net
-32 6 -15 -3 63 -19 0
Grand balance of credits minus debits
2008 all copy rights reserved.
00-16
Six Key Balances
Net surplus or deficit
2008 all copy rights reserved.
00-5
Double-entry Bookkeeping
• Each transaction enters the accounts twice: as a credit and a debit of the same value at the same time. • A credit(+) is a flow for which the country is paid. • A debit(-) is a flow for which the country must pay.
Debit(-)
2008 all copy rights reserved.
00-14
Transaction 5
• U.S government gives $3 mn in foreign aid to the government of Egypt in the form of wheat.
$ mn Credit(+) Merchandise exports (wheat) Unilateral transfers $3 $3 Debit(-)
2008 all copy rights reserved.
00-19
Six Categories
• • • • • Merchandise trade flows (goods flows) Service flows CA Income flows Unilateral transfers (gifts) Private capital flows (nonofficial flows of KA financial assets) OR • Official reserve asset flows
Income payment (interest paid) Private Capital inflow (increase in banks liabilities to foreigners) $15
Debit(-)
$15
2008 all copy rights reserved.
00-13
$ mn Credit(+)
Service exports (tourism) $6
Debit(-)
$6
Private capital outflow
(reducing bank’s deposit liability to a foreign residents)
2008 all copy rights reserved.
2. Foreign assets previously obtained -
Bank of Vancouver
2008 all copy rights reserved.
00-10
Capital flows
• Capital inflow (credit)
Reduction in an economy’s foreign assets Increase in assets held by foreigners Reduction in foreign liabilities to domestic residents Increase in liabilities to foreigners
2008 all copy rights reserved.
00-17
Capital outflow Capital inflow
2008 all copy rights reserved.
00-18
Some Concepts (1)
• Trade balance : net balance of trade in goods and services • Current account balance (CA): balance on goods, services, income and gifts • Private capital account balance (KA): net flows of financial assets and similar claims • Overall balance (B) =current account balance + private capital account balance = (negative of) the official reserve balancgovernment sells $19 mn worth of wheat to Russia, being paid with $19mn in gold by the Russian government.
$ mn Credit(+)
Merchandise exports (wheat) Increase in official reserve assets (gold) $19 $19
00-8
Payments through Banking
Importer in U.S.
Bank’s liability
Exporter in Canada
1. Bank’s liability to foreigners +
Bank of New York
2. Assets held by foreigners +
2008 all copy rights reserved.
00-9
Payments through Banking
Importer in U.S. Exporter in Canada
Bank’s liability
1. Foreign liability to domestic residents -
Credit(+)
Merchandise imports (natural gas)
Debit(-)
$54
Private capital inflow
$54
(increasing bank’s deposit liability to a foreign residents)
2008 all copy rights reserved.
PAYMENTS AMONG NATIONS
2008 all copy rights reserved.
00-2
What’s the Balance of Payment?
• A set of accounts recording all flows of value between a nation’s residents and the residents of the rest of the world during a period of time. • The balance of payments is a statistical statement that systematically summarizes, for a specific period of time, the economic transactions of an economy with the rest of the world. (IMF definition)
2008 all copy rights reserved.
• Capital outflow (debit)
00-11
Transaction 2
• Some Brazilian tourists spend $6 mn in U.S., paying for their hotels and meals through New York bank deposits.
2008 all copy rights reserved.
00-6
Principles for Double-Entry
• Credit entries:
Exports of goods and services Capital inflow Income being paid
• Debit entries:
2008 all copy rights reserved.
00-4
Six Categories
• • • • • Merchandise trade flows (goods flows) Service flows Income flows Unilateral transfers (gifts) Private capital flows (nonofficial flows of financial assets) • Official reserve asset flows
2008 all copy rights reserved.
00-15
A Simple Balance of Payment Account
Flows & Balance Merchandise trade flows Service flows Income flows Unilateral transfers Private capital flows Official reserve asset flows Credit(+) Debit(-)
(19+3)=22 6 15 3 (54+15)=69 6 19 54
Net
-32 6 -15 -3 63 -19 0
Grand balance of credits minus debits
2008 all copy rights reserved.
00-16
Six Key Balances
Net surplus or deficit
2008 all copy rights reserved.
00-5
Double-entry Bookkeeping
• Each transaction enters the accounts twice: as a credit and a debit of the same value at the same time. • A credit(+) is a flow for which the country is paid. • A debit(-) is a flow for which the country must pay.
Debit(-)
2008 all copy rights reserved.
00-14
Transaction 5
• U.S government gives $3 mn in foreign aid to the government of Egypt in the form of wheat.
$ mn Credit(+) Merchandise exports (wheat) Unilateral transfers $3 $3 Debit(-)
2008 all copy rights reserved.
00-19
Six Categories
• • • • • Merchandise trade flows (goods flows) Service flows CA Income flows Unilateral transfers (gifts) Private capital flows (nonofficial flows of KA financial assets) OR • Official reserve asset flows
Income payment (interest paid) Private Capital inflow (increase in banks liabilities to foreigners) $15
Debit(-)
$15
2008 all copy rights reserved.
00-13
$ mn Credit(+)
Service exports (tourism) $6
Debit(-)
$6
Private capital outflow
(reducing bank’s deposit liability to a foreign residents)
2008 all copy rights reserved.
2. Foreign assets previously obtained -
Bank of Vancouver
2008 all copy rights reserved.
00-10
Capital flows
• Capital inflow (credit)
Reduction in an economy’s foreign assets Increase in assets held by foreigners Reduction in foreign liabilities to domestic residents Increase in liabilities to foreigners
2008 all copy rights reserved.
00-17
Capital outflow Capital inflow
2008 all copy rights reserved.
00-18
Some Concepts (1)
• Trade balance : net balance of trade in goods and services • Current account balance (CA): balance on goods, services, income and gifts • Private capital account balance (KA): net flows of financial assets and similar claims • Overall balance (B) =current account balance + private capital account balance = (negative of) the official reserve balancgovernment sells $19 mn worth of wheat to Russia, being paid with $19mn in gold by the Russian government.
$ mn Credit(+)
Merchandise exports (wheat) Increase in official reserve assets (gold) $19 $19
00-8
Payments through Banking
Importer in U.S.
Bank’s liability
Exporter in Canada
1. Bank’s liability to foreigners +
Bank of New York
2. Assets held by foreigners +
2008 all copy rights reserved.
00-9
Payments through Banking
Importer in U.S. Exporter in Canada
Bank’s liability
1. Foreign liability to domestic residents -
Credit(+)
Merchandise imports (natural gas)
Debit(-)
$54
Private capital inflow
$54
(increasing bank’s deposit liability to a foreign residents)
2008 all copy rights reserved.
合集下载
大学金融英语chapter 2 Money Supply
求的长期目标 3. to make up 组成，e.g. ... the majority形成多数 4. as a result of... 由于……结果 5. to spend money on... 在……上花钱 6. to keep sth. in the form of... 将……以……形式保存
L: Long-term liquid assets, including M3, plus nonbank investments in U.S. Savings bonds, short-term Treasury securities, commercial paper, and bankers’ acceptances.
deficit预算赤字
4. nationwide a. 全国性的
Notes
5. denomination n. 文中当“面额”讲，e.g. large~大面额，
small~小面额
6. deregulation n. 撤销管制或监管（与regulation相对） 7. Act n. 法，法令（当大写时=the formal product of a
M2: M1 plus savings and small-denomination time deposits, Money Market Deposit Accounts, money market mutual fund shares owned by individual investors.
Main Text
Factors Affecting The Si源自e of Money Supply
Fourth, rising financial markets like property markets, stock markets can also result in boosting money supply and flow-in of hot money from abroad.
L: Long-term liquid assets, including M3, plus nonbank investments in U.S. Savings bonds, short-term Treasury securities, commercial paper, and bankers’ acceptances.
deficit预算赤字
4. nationwide a. 全国性的
Notes
5. denomination n. 文中当“面额”讲，e.g. large~大面额，
small~小面额
6. deregulation n. 撤销管制或监管（与regulation相对） 7. Act n. 法，法令（当大写时=the formal product of a
M2: M1 plus savings and small-denomination time deposits, Money Market Deposit Accounts, money market mutual fund shares owned by individual investors.
Main Text
Factors Affecting The Si源自e of Money Supply
Fourth, rising financial markets like property markets, stock markets can also result in boosting money supply and flow-in of hot money from abroad.
国际金融英文版ChapterTwo
PPT文档演模板
国际金融英文版ChapterTwo
重要说明
偏差
PPT文档演模板
国际金融英文版ChapterTwo
此研究方法给我们的启发
³ 我国能源的短缺
PPT文档演模板
国际金融英文版ChapterTwo
结束句
谢谢
PPT文档演模板
国际金融英文版ChapterTwo
Fundamentals of BOP Accounting
New York bank deposits.
PPT文档演模板
国际金融英文版ChapterTwo
Fundamentals of BOP Accounting
3. How do we record transactions between residents and nonresidents
A set of accounts(p14-18)
³ Each transaction, involves two opposite flows of equal value. ³ For example: ³ The U.S. government sells $29 million worth of wheat to Russia, being paid
Debit: unilateral transfer $8 million
Credit: goods
$8 million
PPT文档演模板
国际金融英文版ChapterTwo
Account name
Debit
Current account
67
Goods
34(2)
Services
Income
25(4)
•Financia l account
《金融专业英语(第2版)》教学课件—04Banking Industry in China
金 融 专 业 英语
Part Two
Banking Industry in China
Contents
4
5
6
Central Bank—PBC
Commercial Banks
Supervision of Banking
4 Central
Chapter Bank—PBC
Chapter 4 Central Bank—PBC
Chapter 4 Central Bank—PBC
Section 4.1 The Reform of PBC Section 4.2 The Functions of PBC Section 4.3 The Instruments of Central Bank
Section 4.1 The Reform of PBC
➢ In 1984, the People’s Bank of China stopped ➢ handling credit and savings ➢ business. ➢ On March 18, 1995 , people’s Republic of China on the People’s Bank of
➢ In 1978, China has carried out a series of significant reforms in its banking system, and strengthened its opening to the outside world.
➢ In September 1983, the State Council* decided to have the PBC function as a central bank.
Part Two
Banking Industry in China
Contents
4
5
6
Central Bank—PBC
Commercial Banks
Supervision of Banking
4 Central
Chapter Bank—PBC
Chapter 4 Central Bank—PBC
Chapter 4 Central Bank—PBC
Section 4.1 The Reform of PBC Section 4.2 The Functions of PBC Section 4.3 The Instruments of Central Bank
Section 4.1 The Reform of PBC
➢ In 1984, the People’s Bank of China stopped ➢ handling credit and savings ➢ business. ➢ On March 18, 1995 , people’s Republic of China on the People’s Bank of
➢ In 1978, China has carried out a series of significant reforms in its banking system, and strengthened its opening to the outside world.
➢ In September 1983, the State Council* decided to have the PBC function as a central bank.
金融英语Chapter2
❖ Businesses demand loanable funds to invest in long-term (fixed) and short-term assets. The quantity of funds demanded by businesses depends on the number of business project to be implemented. Businesses evaluate a project by comparing the present value of its cash flows to its initial investment, as follows:
• In addition, the market values of securities (such as bonds) held by depository institutions or nondepository institutions are affected as well. Thus, managers of financial institutions attempt to anticipate interest rate movements so that they can capitalize on favorable movements or reduce their institution’s exposure to unfaverable movements.
❖For example, if tax rates on household income are expected to significantly decrease in the future, households might believe that they can more easily afford future loan repayment and thus be willing to borrow more funds. For any interest rate, the quantity of loanable funds demanded by households would be greater as a result of tax law adjustment. This represents an outward shift in the demand schedule.
• In addition, the market values of securities (such as bonds) held by depository institutions or nondepository institutions are affected as well. Thus, managers of financial institutions attempt to anticipate interest rate movements so that they can capitalize on favorable movements or reduce their institution’s exposure to unfaverable movements.
❖For example, if tax rates on household income are expected to significantly decrease in the future, households might believe that they can more easily afford future loan repayment and thus be willing to borrow more funds. For any interest rate, the quantity of loanable funds demanded by households would be greater as a result of tax law adjustment. This represents an outward shift in the demand schedule.
金融英语2ppt课件
brokers and advisers; regulators
.
7
Savers and investors：
The end-users of the financial system are the savers, whose current spending is less than their income and who have money available to lend to others;
expenditures by firms enable households and firms to share risks
.
6
The participants in the financial system:
savers; investors and other borrowers; financial intermediaries;
In between lie the financial institutions and ney flows smoothly from savers through institutions and/or markets to investors is an important function of the financial system.
➢All these financial institutions and markets fit together into a network which comprises the financial system.
.
5
Major functions: channel household savings to corporate sector allocate investment funds among firms Allow smooth consumption by households and
.
7
Savers and investors：
The end-users of the financial system are the savers, whose current spending is less than their income and who have money available to lend to others;
expenditures by firms enable households and firms to share risks
.
6
The participants in the financial system:
savers; investors and other borrowers; financial intermediaries;
In between lie the financial institutions and ney flows smoothly from savers through institutions and/or markets to investors is an important function of the financial system.
➢All these financial institutions and markets fit together into a network which comprises the financial system.
.
5
Major functions: channel household savings to corporate sector allocate investment funds among firms Allow smooth consumption by households and
金融学(双语)_Chp2
有时候金融中介自身拥有盈余资金，并投资于金融市场或其 他金融中介 • A bank that borrows and invests in the money market can increase its flexibility, reduce its risks, and turn a profit 银行在货币市场借钱投资，可以提高灵活性，减少风险，并 回报收益 • Eventually, the surplus funds are consumed by a deficit unit 最终，盈余资金被赤字单位所消费
12
Fund Flows via Market
资金流经市场
Markets 金融市场
Surplus Units 盈余单位 Intermediarie s 金融中介
13
Deficit Units 赤字单位
Fund Flows via Intermediary 资金流经金融中介
• Holders of surplus funds may use an intermediary, such as a bank, to invest them.
• 直接
• 通过金融市场 • 通过金融中介
9
The Flow of Funds Diagram 资金流动示意图
Markets 金融市场
Surplus Units
Deficit Units
盈余单位
赤字单位
Intermediarie s
10 金融中介
The Flow of Funds Diagram 资金流动示意图
23
2. Managing Risk 功能2 管理风险
• 风险与资金经常被“捆绑”在一起，而且同时通过 金融体系转移 • 许多金融合同可以在不转移资金的条件下为转移风 险服务，比如保险、担保、金融衍生工具等
12
Fund Flows via Market
资金流经市场
Markets 金融市场
Surplus Units 盈余单位 Intermediarie s 金融中介
13
Deficit Units 赤字单位
Fund Flows via Intermediary 资金流经金融中介
• Holders of surplus funds may use an intermediary, such as a bank, to invest them.
• 直接
• 通过金融市场 • 通过金融中介
9
The Flow of Funds Diagram 资金流动示意图
Markets 金融市场
Surplus Units
Deficit Units
盈余单位
赤字单位
Intermediarie s
10 金融中介
The Flow of Funds Diagram 资金流动示意图
23
2. Managing Risk 功能2 管理风险
• 风险与资金经常被“捆绑”在一起，而且同时通过 金融体系转移 • 许多金融合同可以在不转移资金的条件下为转移风 险服务，比如保险、担保、金融衍生工具等
《金融专业英语(第2版)》教学课件—01Money and Economics
economy.
Key Topics
1 What is Money; 2 Functions of Money; 3 Evolution of the payment; 4 Measuring Money; 5 Money Policy.
Text contents
Section 1.1 What is Money? Section 1.2 Functions of Money Section 1.3 Evolution of the Payment System Section 1.4 Measuring Money
在一般情况下，货币是在任何形式或可核查的记录中，被 普遍接受作为付款的商品和服务，并在一个特定的国家或 社会经济背景下可以偿还的债务。
What is “Money”?
Imagine a world without using of money Barter (物物交换)
What is “Money”?
Learn the functions of money;
2
Know the definition of money;
1
3 4
Learning Objectives
Understand how the money can be measured;
Learn how the
5
money policy can effect the
金 融 专 业 英语
Part One
Money and Economics
Contents
1
2
3
Money
Financial Markets
Polities and Economics
金融英语PPT教学课件 Unit2 Central Bank and its Functions
• But the record also shows a number of officials arguing that the Fed should nevertheless get ready to act again if the jobs market and inflation numbers were in line with expectations or stronger than forecast. • After lifting rates twice in two years, Janet Yellen, Fed chair, and her fellow ratesetters are contemplating stepping up the pace of increases as economic growth accelerates and prospects rise of tax cuts by the Republican-controlled Congress.
1. Central Bank and Its Functions The brief history of central bank Bank of Sweden (1656) was the first central bank, followed by the Bank of England (1694) and the Bank of France (1800). Bank of Japan was established in 1888, and the US Federal Reserve System in 1913. The People’s Bank of China was founded in 1948 and authorized to exercise the functions of the Central Bank of China in 1983.
2024年北大黄达《金融学》课件
北大黄达《金融学》课件在您提供的选项中，我没有具体的内容可以评估哪个细节是需要重点关注的，因为无法访问黄达教授的《金融学》课件的具体内容。
然而，我可以提供一个假设性的情况，如果某个细节被认为是重点，我将如何进行补充和说明。
1.金融市场的定义与组成：金融市场是指资金的需求者（借款人）和资金的供给者（贷款人）进行交易的场所。
这些市场包括股票市场、债券市场、货币市场和衍生品市场等。
2.金融市场的功能：资金配置：金融市场通过将资金从储蓄者转移到投资者，促进了资本的形成和有效配置。
风险管理：金融市场提供各种工具和机制，如保险、期货、期权等，帮助个人和企业管理和对冲风险。
价格发现：金融市场通过交易过程中的供需关系，决定了金融资产的价格，反映了市场对资产价值的共识。
提高流动性：金融市场使投资者能够将金融资产转换为现金，增加了市场的流动性。
3.金融市场的作用：经济增长：金融市场通过提供融资渠道，支持企业的扩张和创新，从而促进经济增长。
财富积累与分配：金融市场允许个人和企业通过投资获得回报，影响财富的积累和分配。
政策传导：金融市场是中央银行实施货币政策的重要渠道，通过调整利率和公开市场操作等手段影响经济。
4.金融市场的参与者：个人投资者：包括散户投资者和通过退休基金、保险等间接参与的投资者。
机构投资者：如养老基金、保险公司、共同基金等，它们通常拥有较大的投资规模。
企业和政府：作为借款人和发行人，在金融市场上筹集资金。
金融中介：如银行、券商、投资银行等，它们在金融市场上扮演着中介和服务的角色。
5.金融市场的监管：金融市场的监管旨在保护投资者、维护市场公平性和透明度、防止市场操纵和欺诈行为。
监管机构通常设定市场规则，监督市场参与者的行为，并采取措施应对系统性风险。
通过上述的补充和说明，我们可以更全面地理解金融市场的功能与作用，以及它们在现代社会经济中的重要性。
金融市场不仅是经济发展的关键驱动力，也是实现个人和机构财务目标的重要平台。
《金融专业英语》课件-Chapter 2 Financial Institutions
More about commercial banks
Commercial banks make a number of decisions, including: (1) பைடு நூலகம்he interest rates they will pay to “borrow” or “hire” funds from depositors; (2) The types of deposits they will offer the public; (3) The interest rates they will charge to lend funds to borrowers; (4) The types of loans they will make (5) The types of securities they will acquire.
✓ Bank holding companies （银行控股公司） Commercial banks in the modern forms can be bank holding companies or financial holding companies. A bank holding company is a corporation that owns several firms, at least one of which is a bank. If the holding company owns one bank, it is called a onebank holding company 单一银行控股公司. If it owns more than one, it is called, not surprisingly, a multi-bank holding company多银行控股公司. ✓ Financial holding companies （金融控股公司） A financial holding company can offer a complete range of financial services, many of which were previously prohibited.