金融英语:银行业务重点归纳(二)
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. |