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金融英语:银行业务重点归纳(二)

分类: FECT金融英语 
第二章 Money, banking and the economy

1)Function of money
1. Medium of exchange
2. Store of value来源:考试大
3. A unit of account (standard of value)来源:考试大
4. Standard of deferred payment

2)Characteristic of money
1. Portability
2. Divisibility来源:考试大
3. Homogeneity and identifiability
4. Durability
5. Scarcity来源:考试大
6. Purchasing power stability

3)Type of money
  1. Token money
  2. Cheque account deposits
  3. Commodity money

4)Cheque itself is not “money”; it is only the amount of money in the relevant account, which is considered to be “money”.

5)A required reserve ratio is a fraction of the deposits of the public that a bank hold in reserves; that is, the minimum amount of reserves a bank must, by law, keep either in currency or in deposits with the central bank.

6)Money multiplier=1/R来源:考试大

7) M1: the sum of legal tender coins and notes held by the public +the customers’ demand deposits placed with licensed bank
M2: the sum of M1+customer’s saving and time deposits with licensed banks + negotiable certificates of deposits (NCDs) issued by licensed banks held outside the banking sector
M3: the sum of M2+customer deposits with restricted license bank (RLB) and deposit-taking companies (DTCs) +negotiable certificate of deposits (NCDs) issued by these institutions held outside the banking sector.

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