【正文】 be arbitrage. 2.。1,000 to $12 in Tokyo and converting $12 into 165。5 = $10 = 165。(2) 228貸款是可調(diào)利率抵押貸款，其利率基于倫敦銀行同業(yè)拆借利率且在前兩年是固定不變的。%。如果賬戶余額低于這個標(biāo)準(zhǔn)，你就會收到追加保證金的通知，你將被迫要么存入更多的現(xiàn)金，要么清算頭寸。or electronic orders. The Nasdaq, on the other hand, is strictly an electronic exchange, an intangible organization.(5) Margin requirement is the amount that an investor must deposit in a margin account before buying on margin or selling short, as required by the Federal Reserve Board’s Regulation T.2. Translate the following passages into English(1) The Shanghai Stock Exchange (SSE), which was founded on November 26, 1990 and came into operation on December 19 at the same year, is a nonprofit corporation directly governed by the China Securities Regulatory Commission (CSRC). The SSE adopts the electronic auction trading mode and the buying and selling of all the listed securities must be made by public bidding through the mainframe puter. It is the mainframe puter that matches the deals in accordance with the principal of pricetime priority. By the end of December 2007, the SSE possessed 1,125 listed securities and 860 listed panies, with a bined market capitalization of RMB 26, billion yuan.(2) Dow Jones Industrial Average is one of the stock indexes created by Charles Dow, the founder of The Wall Street Journal and the Dow Jones amp。貸款人通常不會使用贖回條款，除非借款人很快便不能夠履行貸款合同的條款。任何擁有債券的人，以低于債券購買價賣出債券且同時獲得資本收益或其他的收入，而這些收益或收入可能部分或全部由稅收損失所抵消，因而可以從稅收互換中獲益。Unit 6 Bond Market1. Answer the following questions based on the text(1) Foreign bond is a bond that is issued in a domestic market by a foreign entity. For example, Yankee bond is a bond denominated in . dollars but issued in the United States by foreign banks and corporations. (2) Individual investors are people, while institutional investors are mutual funds, brokers, and corporations. Institutional investors have far more impact on the market since they buy and sell much large volumes of stock.(3) The major difference lies in the maturities of the instruments. The maturity of Treasury bill is less than one year, the maturity of Treasury note is from one to ten years, and the maturity of Treasury bond is over ten years. (4) Both of them are municipal bonds. The difference is whether there are specific assets or projects as security. General obligation bonds do not have such assets or projects but are backed by the government ability to tax its citizens. Revenue bonds are used to raise funds for projects that generate revenues and backed by the cash flow of the particular revenuegenerating project.(5) Mortgage bond is backed by fixed assets as security, while debentures are longterm unsecured bonds that are backed only by the general creditworthiness of the issuer.(6) In the event of bankruptcy, subordinated debt has claims on assets only after senior debt has been paid off.(7) Bonds above Moody’s Baa or Standard amp。鑒于倫敦作為全球金融中心的重要性，LIBOR不僅僅適用于英鎊，同時適用于世界其他主要貨幣如美元、瑞士法郎、日元以及加元。這些接受政府資助的銀行同時也要面對一系列的行為限制，以保證國家資助資金不會被用來與其它銀行競爭以提供像低價的抵押貸款這樣的金融產(chǎn)品。破產(chǎn)機(jī)構(gòu)的客戶就自動轉(zhuǎn)變?yōu)橘徺I存款和貸款機(jī)構(gòu)的客戶。 Co at low price. The 94yearold Merrill Lynch was purchased by the Bank of America. The 158yearold Lehman Brothers declared a bankruptcy. The 139yearold Goldman Sachs and the 73yearold Morgan Stanley were both turned from investment banks into bank holding panies.(2) China Banking Regulatory Commission (CBRC) was established on April 28, 2003. It is from this year that the Industrial and Commercial Bank of China, the Bank of China, China Construction Bank, and the Bank of Communications consecutively started allround jointstock reforms and successfully listed with stock exchanges. These banks kept constantly narrowing the gap with international advanced banks in corporate governance, development strategy, operating performance, etc. By the end of December 2007, the total assets of financial institutions in the banking industry had increased from RMB trillion yuan at the end of 2002 to RMB trillion yuan. The ratio of nonperforming loans of major mercial banks had decreased from % at the end of 2002 to %. The number of banks meeting the capital adequacy requirement had increased from 8 at the end of 2003 to 136 at the end of September 2007. Accordingly, the ratio of these banks’ capital to the total capital of the banking sector had increased from % to %.3. Translate the following passages into Chinese(1) 聯(lián)邦存款保險公司(FDIC)不接受國會撥款，其資金來源于銀行和儲蓄機(jī)構(gòu)繳納的存款保險費(fèi)和投資美國財政部證券所獲得的收益。這些指導(dǎo)材料是為了簡化上市申請流程所做的長期努力的一部分，也是由今年六月出版的《有關(guān)建議修改股本證券上市有關(guān)存檔及核對清單規(guī)定的咨詢文件》所引起的。一筆貝寶交易的收款人要么要求貝寶支票，確定他們自己的貝寶存款賬戶，要么要求直接支付到他們的銀行賬戶。但是兩大儲備資產(chǎn)美元和黃金的國際供給證明不足以維持世界貿(mào)易擴(kuò)張和正在進(jìn)行的金融發(fā)展。這項(xiàng)五學(xué)年的要求就是著名的“150學(xué)時規(guī)則”，已經(jīng)被大多數(shù)州的會計委員會所采用，盡管有一些例外。世界各地的考點(diǎn)均舉行各個等級的考試。 j) faculty of the financial departments of higher educational institutions and researchers in research institutions。 f) financial regulatory authorities, such as the People’s Bank of China, China Banking Regulatory and Supervisory Commission, China Securities Regulatory and Supervisory Commission, and China Insurance Regulatory and Supervisory Commission。 b) securities panies, fund management panies, and securities and futures exchanges。Unit 1 Finance and Your Career1. Answer the following questions based on the text(1) According to Besley and Brigham, the three main areas of finance are financial markets, investments, and managerial finance (or business finance).(2) Career opportunities in financial markets include working for financial institutions, such as banks, insurance panies, savings and loan associations, credit unions, mutual funds, investment banks, etc. Career opportunities in investments involve working for stock brokerage firms, financial institutions, investment panies, or insurance panies. Managerial finance offers the greatest number of jobs and mainly deals with decisions that firms make concerning their cash flows.(3) Graduates in finance in China can find jobs in both financial and nonfinancial areas. Majority of them can and are willing to f