【每日阅读训练第四期——速度越障22系列】【22-04】经管 Shadow Banking

dorisxxy · 发表于 2013-8-10 04:49:54

Time1---2’47”
Under the credit crisis, credit growth shifted to shadow banking system.
Time2—3’09”
Fed made exceptions to minimize the damage.
Time2---2’54”
The passage analyses how failure of Lehman affected the who financial market and suggests precautions for future.
Time4---1’53”
IOUs have problems and legal limits should be placed on them
Time5---2’24”
Experts suggest the maturity of shadow banking system goes longer and more stable.
Obstacle---7’21
Zhang wrote a book about his experiences and comments in the shadow banking system and current Chinese financial market. Currently, China has WMPs and the passage introduces the development and influences of it.

bitxln · 发表于 2013-9-9 21:22:46

Warm up: 00:48 [111[
The warm up part introduces the topic of the depression debate recently.

ad hoc:adj. 特别的；临时；专设
regulatory:adj. 管理的；控制的；调整的

Time1: 02:38 [368]
The root cause of 2008 economic crisis is lacking regulatory of the government to adopt the growth of the shadow banking system.

securitization:n. 证券化，资产证券化
conduit:n. [电] 导管；沟渠；导水管
regulate:vt. 调节，规定；控制
derivative:adj. 派生的；引出的
solvent:n. 溶剂；解决方法
insolvent:n. 破产者；无力偿还者

Time2: 02:53 [386]
The paragraph continues providing example of the lack of regulatory for the economic management for the 2008 financial crisis.

liquidation:n. 清算；偿还
unwinding:n. 退绕
synthetically:adv. 综合地；合成地
escalate:vi. 逐步增强；逐步升高
regulator:n. 调整者；校准器
legislative:adj. 立法的；有立法权的
conservator:n. 保护者；管理员

Time3: 2:06 [331]
After analysis the failure of diferent economic units, the passage concludes that the most power way to have systemically important nonbank instituatons.

contemplate:vt. 沉思；注视；思忖；预期
ardent:adj. 热情的；热心的；激烈的；燃烧般的

Warm up: 1:50 [305]

Time4: 1:57 [315]
The passage explans how the shadow bank induces the crisis of the economic system.

ensue:vi. 跟着发生，接着发生；继起
lax:adj. 松的；松懈的；腹泻的
reckless:adj. 鲁莽的，不顾后果的；粗心大意的
wager:n. 赌注；赌博；赌物

Time5: 1:38 [284]
This part mainly focus on providing possible solutions to IOUs, which can help to limit the risk of financial crisis.

moral-hazard:道德风险
dilemma:n. 困境；进退两难
collateral:adj. 并行的；旁系的；附属的
pledge:n. 保证，誓言；抵押

PARTII: Obstacle
Warmup: 1:57 [277]
The introduction of Mr Zhang and his book about shadow bank in China.

lender:n. 贷方；[金融] 出借人

Time: 07:00 [1133]
This passage mainly focus on the book of Mr. Zhang and the book talks about the shadow bank situation in China and mentions some possible solutions or rules can be taken to ease the bad consequence.

9号球 · 发表于 2013-9-14 09:14:56

t1 the change of credit from triditional banking system is called shadow banking .the reason for 2008 financial crisis: central banking and regulatory system had not adapted to the growth of shadow banking system.
t2: normal bankruptcy laws failed to shut down insolvent financial institutions through bankruptcy.In response,the government shtretched new laws which showed the efficacy of resolution authority.
t3:how to prevent a repeat of the events og 2008=>granting resolution authority to facilitate an orderly mind-down of failed,systemically important non bank institutions.
t4: IOU in shadow banking-which resembles deposit of banks-have some problems.investors can reclaim their money as fast aas possible.when that happens,a firm has to sell assets to come up with the necessary cash and its funding may dry up.
t5 restricting who can use short-term funding will force business to rely more on equity and long-term debt.the equivalent of deposit insurance might also enhance stability.some arguments about insurance.

obstacle:shadow banking in china.
introduction of WMP in china.

wensd1111 · 发表于 2014-7-23 08:01:46

1 A 00:50
2 A 02:42
3 A 02:39
4 A 02:14
5 A 02:07
6 A 02:02
7 A 01:40
8 A 02:04
9 A 08:09

奎尼米兰达 · 发表于 2019-7-15 22:21:28

2:23
2:41
2:09
1:42
1:35

Leoniena · 发表于 2019-7-15 22:49:37

time 2 2.42
time3 3.08
time4 2.55
time5 2.18
time6 2.12

sbr3037429 · 发表于 2020-2-23 02:47:17

Obstacle: 6’30

Eres · 发表于 2020-2-25 10:34:18

Obstacle閱讀大意訓練 **財金詞彙用不專精還請多包涵

歡迎交流~
曾先生是描述中國「影子銀行」的第一人，他點出這類銀行的運作方式

影子銀行跟一般銀行一樣是資產與負債轉手的中間人，不過他們少了法規的限制－大量資金掌握在非法手裡，聽起來很駭人，不過曾先生認為這現象代表的是徵兆而不是問題。

問題本身是財金壓力，因為中國政府設有存款利率上限，給了銀行動機大量放貸，政府相對花了很多功夫抑制過度放貸，影子銀行的興起就是為了規避政府設立的放貸限制：
中小企業可以跟微型放貸機構借錢，大型企業只能透過銀行輾轉借給信任的姐妹公司，從中也會藉由銀行發行金融產品WMP籌措資金，有時甚至是高風險的虛擬產品，大眾對該風險可說是睜一隻眼閉一隻眼；另一種常搞混的產品是銀行自行發行的金融產品，跟前者相反，本產品由銀行發行、信任企業販賣，且相對保守很多，利率只比存款利率高一點點

WMP產品風險越高，就越趨使投資人轉買低風險的產品，問題是他們可能會跟其他機構購買，進而使資金壓縮，目前一個解決方案：使用正式的存款保險

批評者多半拿WMP與美國金融風暴相比，但有研究者指出這與美國多年前的金融產品較像，或許中國也可能有像美國立法管理的一天，曾先生86年就在說要取消存款利率限制，直到現在都還未實現。

[阅读小分队] 【每日阅读训练第四期——速度越障22系列】【22-04】经管 Shadow Banking

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