金融英语Lecture 4 Bank.docVIP

Bank Terms： 1. Open Market Operation: (the purchase and sale of government securities that affect both interest rates and the amount of reserves in the banking system. 2. Reserved Requirement: Changes in reserve requirements affect the money supply by causing the money supply multiplier to change. A rise in reserve requirements reduces the amount of deposits that can be supported by a given level of the monetary base and will lead to a contraction of the money supply. Conversely, a decline in reserve requirements leads to an expansion of the money supply because more multiple deposit creation can take place. 3. Discount Policy: Discount policy, which primarily involves changes in the discount rate, affects the money supply by affecting the volume of discount loans and the monetary base. A rise in discount loans adds the monetary base and expands the money supply; a fall in discount loans reduces the monetary base and shrinks the money supply. Central Banks and the Federal Reserve System Banking Financial Management Income Statement Duration Gap Analysis Decision Making System of China’s Financial Sector 1. 中国人民银行：People’s bank of China 2财政部Ministry of finance 3. 国家发展改革委员会National development and reform commission 4. 商务部：Ministry of commerce 5中国银行业监督管理委员会China banking regulatory commission 6. 中国证券监督管理委员会：China securities regulatory commission 7中国保险监督管理委员会：China insurance regulatory commission The Banking Industry in China The evolution of the Chinese banking system can be broadly divided into three phases: 1. The establishment of the People’s Bank of China (PBC) in December 1948 marked the beginning of the first phase, which was characterized by a mono-bank engaged in both policy and commercial banking operations. 2. The second phase began in 1984 when the State Council decided to make the PBC function as a central bank. Fours specialized banks ( the Industrial and Commercial Bank of China, the Agricultural Bank of China, the Bank of China, and the China Construc