金融行业英中词汇二

CAGR	年复合增长率
Capex	资本开支
Capital goods	资本货物
carveout	分拆上市
Cash Flow Return on Investment (CFROI)	投资的现金流回报
Cash on Cash Return	现金的现金回报率
Cash Return on Gross Investment - (CROGI)	总投资现金回报率：一种衡量财务表现的指标，计算方法为税后总现金流除以总投资额
CDS index: Credit default swap index	A credit default swap index is a credit derivative used to hedge credit risk or to take a position on a basket of credit entities. Unlike a credit default swap, which is an over the counter credit derivative, a credit default swap index is completely standardised credit security and may therefore be more liquid and trade at a smaller bid-offer spread. This means that it can be cheaper to hedge a portfolio of credit default swaps or bonds with a CDS index than it would be to buy many CDS to achieve a similar effect. There are currently two main families of CDS indices: CDX and iTraxx. CDX indices contain North American and Emerging Market companies and are administered by CDS Index Company (CDSIndexCo) and marketed by Markit Group, and iTraxx contain companies from the rest of the world and are managed by the International Index Company (IIC). A new series of CDS indices is issued every six months by Markit and IIC. Running up to the announcement of each series a group of investment banks is polled to determine the credit entities that will form the constituents of the new issue. This process is intended to ensure that the index does not become "cluttered" with instruments that no longer exist, or which trade extremely illiquidly. On the day of issue a fixed coupon is decided for the whole index based on the credit spread of the entities in the index. Once this has been decided the index constituents and the fixed coupon are published, and the indices can be actively traded.
CDS(credit default swaps)	A credit default swap (CDS) is a bilateral contract under which two counterparties agree to isolate and separately trade the credit risk of at least one third-party reference entity. Under a credit default swap agreement, a protection buyer pays a periodic fee to a protection seller in exchange for a contingent payment by the seller upon a credit event (such as a default or failure to pay) happening in the reference entity. When a credit event is triggered, the protection seller either takes delivery of the defaulted bond for the par value (physical settlement) or pays the protection buyer the difference between the par value and recovery value of the bond (cash settlement). Credit default swaps resemble an insurance policy, as they can be used by debt owners to hedge against credit events. However, because there is no requirement to actually hold any asset or suffer a loss, credit default swaps can be used to speculate on changes in credit spread. Credit default swaps are the most widely traded credit derivative product[1]. The typical term of a credit default swap contract is five years, although being an over-the-counter derivative, credit default swaps of almost any maturity can be traded.
Ceteris paribus
Chinese wall	中国墙：指證券包銷部門與後勤或交易部門的訊息與職能隔離的意思, 以防敏感性的消息外洩, 造成內幕交易之利益衝突)
claim
Client dealings	代客交易
Collateralized debt obligations
Commercial floor plan financing	特定商品融资
Commodity linked loans	大宗商品融资
Compartment funds
Completion guarantee 完工担保	A completion guarantee is a legal undertaking by the guarantor to the film's financier(s) that the film will be completed and delivered to the specification agreed (ie. based on the agreed script, featuring the agreed principal cast, being of roughly the agreed length etc.) and by the date agreed in their contracts with the producer. A completion guarantee is not, however, an insurance policy - the guarantor will not automatically pay out in the event that the film is not completed as specified, but will work with the producer and financiers to try to ensure the best outcome from whatever the current situation may be.
Concentration tolerance
Concession agreement	特许协议
Confidence level	置信区间
Connected counterparties	关联交易对手
Consolidated supervised entity(CSE)	合并受监管实体
Consolidated supervision	并表监管框架
Consumer staples Consumer discretionary	主要消费 可选消费
controller	财务人员
Cost of capital:
counterparty	交易对手
Credit concentration： conventional credit concentration convention based on common or correlated risk factors	贷款集中
Credit deterioration	信用恶化
Credit enforcement action	信用升级
Credit files
Credit rating (score card)	打分卡
Credit registries	信用登记机构
credit risk exposure	信用风险敞口
Credit risk mitigation (CRM) technique: 抵押（collateral）、表内对冲(on-balance sheet netting)、担保/信用衍生工具(guarantees and credit derivatives)	信贷风险缓解技术
Credit risk-bearing portfolio	含信用风险的投资组合
Credit scoring models	信用打分
Credit-linked notes
Current exposure	当期敞口
current exposure gross and net of collateral
custody	托管
Custody of key documents	重要文件保管
Customer-written options
Dealogic
Debt-to-total capitalization ratio
Deloitte&Touche	德勤
Disregard the separate legal personality of a company	所谓法人格是指公司以其自己的名义享有民事权利和独立承担民事义务的主体资格。公司的股东以其出资额对公司债务承当责任，这就是有限责任。公司法人人格否认（disregard of corporate personality） 是指为阻止公司独立人格的滥用和保护公司债权人利益及社会公共利益，就具体法律关系中的特定事实，否认公司与其背后的股东各自独立的人格及股东的有限责 任，责令公司的股东（包括自然人股东和法人股东）对公司债权人或公共利益直接负责，以实现公平、正义目标之要求而设立的一种法律措施
Diversification	分散化
Documentation risk
Dry run	排练
EAD: exposure at default	违约时风险暴露是指由于债务人违约所导致的可能承受风险的信贷业务的余额
Earn-out	基于盈利的支付计划（交易双方对价值和风险的判断不一致，将传统一次性付款改为基于盈利的支付）
Economic capital	经济资本
Economically diverse borrowers	从事不同经济活动的借款方
EDF credit measure	EDF信用度量
EL: Expected loss	预期损失率是LGD和PD的乘积，即：预期损失率（EL）＝LGD × PD
Elevator speech/pitch: a short description of what you do or your point that only takes time for an elevator to go top to down	精华
Engagement manager	项目经理
EPC
EPS: earnings per share	每股净盈利
Ernst & Young	安永
ERP：equity risk premium	股票风险溢价
EV/EBITDA	企业价值/EBITDA
Ex ante credit spread
Expected positive exposure(EPE): now a key element of the advanced approaches provided by Basel II for the capital treatment of counterparty credit risk.
Expropriation
External rating	外部评级
Factoring: is often used synonymously with accounts receivable financing. Factoring is a form of commercial finance whereby a business sells its accounts	保理业务
Fiduciary duties	受托责任
Financial options
Firefighting	救火/救急
Flip-in: The flip-in is one of five main types of poison pills, and is a common part of many modern flip-over poison pills. The flip-in is a provision in the target company's corporate charter or bylaws. The provision gives current shareholders of a targeted company, other than the hostile acquiror, rights to purchase additional stocks in the targeted company at a discount rate. These rights to purchase occur only 1) before a potential takeover, and 2) when the acquirer surpasses the "kick-in" or threshold point of obtaining outstanding shares (usually 20 - 50%). No potential acquiror or other shareholder will risk triggering a poison pill by accumulating more than the threshold level of shares because of the threat of massive discriminatory dilution. The threshold level therefore effectively sets a ceiling on the amount of stock that any shareholder can accumulate before launching a proxy contest.
foreclosure	取消抵押品赎回权
Form 144: for proposed sale of restricted securities held by an affiliate of the issuer, director or CEO)
Form 4:for insider trading
Franchise value	业务价值
FSA	英国金融服务管理局
FTSE	新华富时
Funded loan	资金已到位的贷款
Future-flow securitization
Go live	上马
Goodwill: an acquisiton price that is higher than the net equity of the target	商誉
gradation	分级
granular	具体（按产品或实体计算风险）
granularity	分散性
granularity adjustment	调整因素
Granularity of counterparty exposure
Growth stocks	成长股
guarantor	保证人
Herd mentality	羊群心理
High-leverage and nonrecourse debt
Highly-leveraged:　A firm with significantly more debt than equity is considered to be highly leveraged.	高杠杆
Hump-shaped term structure of loan spreads
Hurdle rate	门槛比率
indenture	契约
Intl organization of securities commission(IOSCO)	国际证监会组织
IRB: IRB Foundation IRB Advanced Standardized approach	内部评级法：基本法 高级法 标准法
KPMG	毕马威
LBO	杠杆收购
LCDS: loan only credit default swaps	A credit default swap in which a credit event can be triggered by any of the reference entity's debt obligations but in which only obligations of a certain seniority can be delivered. Loan-only credit default swap spreads should move in line with loan prices rather than with bond spreads and therefore allow traders to go short loans and to take a view on secured debt against other parts of the reference entity's capital structure.
LGD: loss given default	违约损失率：指预期违约的损失占风险暴露（exposure）的百分比
LGD: Market LGD（市场LGD,以实际违约事件发生后违约债券或可交易贷款的市场价格为依据）；Workout LGD（清算LGD，清算及追讨过程产生的一系列现金流估计值的现值与风险暴露的比值）; Implied Market LGD（市场隐含LGD，利用资产估价模型，按同类未违约债券的利差与价格计算）。
LIED
Liquidation of position	头寸结算
Loan equivalent exposure	The practice of translating so-called off-balance sheet commitments, such as swaps and other financial instruments, into the credit equivalent exposure represented by a loan. This approach is useful in overcoming the tendency to overstate the size of swap, option and forward transactions by listing notional or face amounts. See also Maximum Potential Replacement Cost, Notional Principal Amount.
Loan participation: A synthetic debt instrument created when a bank sells a share in a loan with a life under one year to a non-bank investor.	参与贷款
Loan placed on non-accrual	积欠本金贷款
Loan syndication	贷款银团：多个贷方共同出资的贷款，各贷方的出资比例可能不同。
Lock in arbitrage profits	锁定套利
Logarithmic transformation	对数变换
LOP (Letter of Proposal)	竞标书