英文名称：Default Risk 中文名称：违约风险公司或个人未能履行合约义务的风险，多指债券发行人在债券到期时无法还本付息而使投资者遭受损失的风险。 The risk that companies or individuals will be unable to make the required payments on their debt obligations. Lenders and investors are exposed to default risk in virtually all forms of credit extensions. To mitigate the impact of default risk, lenders often charge rates of return that correspond the debtor's level of default risk. The higher the risk, the higher the required return and vice versa. Standard measurement tools to gauge default risk include FICO scores for consumer credit, and credit ratings for corporate and government debt issues. Credit ratings for debt issues are provided by Nationally Recognized Statistical Rating Organizations (NRSROs) such as Standard & Poor's, Moody's and Fitch Ratings.
英文名称：Deleverage 中文名称：去杠杆化减低以往用来提高投资收益率的金融工具及借贷资金，降低财务杠杆。 A company's attempt to decrease its financial leverage. The best way for a company to delever is to immediately pay off any existing debt on its balance sheet. If it is unable to do this, the company will be in significant risk of defaulting. Companies will often take on excessive amounts of debt to initiate growth. However, using leverage substantially increases the riskiness of the firm. If leverage does not further growth as planned, the risk can become too much for the company to bear. In these situations, all the firm can do is delever by paying off debt.Any sign of deleverage shown by a company is a red flag to investors who require growth in their companies.
英文名称：Dual Currency Bond 中文名称：双货币债券以一种货币付利息，另一种货币偿还本金的债券，前者货币通常是债券购买者所在国家的货币，后者则通常是美元或债券发行者所在国家的货币。投资人通常可获得较市场水平高的票面利率，同时也可能要承受一定的外汇风险。 A debt instrument in which the coupon and principal payments are made in two different currencies. The currency in which the bond is issued, which is called the base currency, will be the currency in which interest payments are made. The principal currency and amount are fixed when the bond is issued. Dual currency bonds are subject to exchange rate risk. If the currency in which the principal will be repaid appreciates, the bondholder will make money; if it depreciates, he or she will lose money. Investors can use dual currency swaps, which have a fixed exchange rate at issuance, to offset the exchange risk of dual currency bonds.
英文名称：Effective Duration 中文名称：有效期限指一种计算含期权的债券期限的方法，有效期限的计算将预期现金流会随着利率的变化而发生变动的因素考虑在内。e.g. The combined effective duration time of the top three accounted for 67.3 percent of the total. A duration calculation for bonds with embedded options. Effective duration takes into account that expected cash flows will fluctuate as interest rates change. Effective duration can be estimated using modified duration if the bond with embedded options behaves like an option-free bond. This behavior occurs when exercise of the embedded option would offer the investor no benefit. As such, the security's cash flows cannot be expected to change given a change in yield. For example, if existing interest rates were 10% and a callable bond were paying a coupon of 6%, the callable bond would behave like an option-free bond because it would not optimal for the company to call the bonds and re-issue them at a higher interest rate.
英文名称：Effective Yield 中文名称：有效收益率假设投资者在取得息票利息后，将款项用于再投资所获得的收益率。e.g. The effective yield on a 30-year fixed-rate loan fell 42 basis points to 6.16%, and the effective yield on a 15-year loan fell 51 basis points to 5.48%. The yield of a bond, assuming that you reinvest the coupon (interest payments) once you have received payment. Reinvesting the coupon will produce a higher yield because interest is earned on the interest payments.
本票（Promissory Note） 目录 1 本票概述 本票概述 本票（Promissory Note）是一项书面的无条件的支付承诺，由一个人作成，并交给另一人，经制票人签名承诺，即期或定期或在可以确定的将来时间，支付一定数目的金钱给一个特定的人或其指定人或来人。 我国《票据法》对本票的定义，指的是银行本票，指出票人签发的，承诺自己在见票时无条件支付确定金额给收款人或者持票人的票据。 国外票据法，允许企业和个人签发本票，称为一般本票。但在国际贸易中使用的本票，均为银行本票。银行本票都是即期的。一般本票可以是即期的或远期的。 而狭义的外汇中的本票仅指银行本票，不包括商业本票，个人本票。 本票的出票人必须具有支付本票金额的可靠资金来源，并保证支付。 A written, dated and signed two-party instrument containing an unconditional promise by the maker to pay a definite sum of money to a payee on demand or at a specified future date. The only difference between a promissory note and a bill of exchange is that the maker of a note pays the payee personally, rather than ordering a third party to do so. When a bank is the maker promising to repay money it has received plus interest, the promissory note is called a certificate of deposit (CD).
英文名称：Accrued Interest 中文名称：应计利息指证券自上次付息日以来所累积的利息，须由证券的买方支付给卖方。如果证券在两个利息支付日之间出售，则买方通常要以在买价中包含应计利息或单独支付利息等方式补偿卖方。e.g. Before July 1, the bank calculated the value of the securities based on the purchase price and the accrued interest.1. A term used to describe an accrual accounting method when interest that is either payable or receivable has been recognized, but not yet paid or received. Accrued interest occurs as a result of the difference in timing of cash flows and the measurement of these cash flows. 2. The interest that has accumulated on a bond since the last interest payment up to, but not including, the settlement date. 1. For example, accrued interest receivable occurs when interest on an outstanding receivable has been earned by the company, but has not yet been received. A loan to a customer for goods sold would result in interest being charged on the loan. If the loan is extended on October 1 and the lending company's year ends on December 31, there will be two months of accrued interest receivable recorded as interest revenue in the company's financial statements for the year. 2. Accrued interest is added to the contract price of a bond transaction. Accrued interest is that which has been earned since the last coupon payment. Because the bond hasn't expired or the next payment is not yet due, the owner of the bond hasn't officially received the money. If he or she sells the bond, accrued interest is added to the sale price. 目录 1累计利息 2Accrued Interest 累计利息 下一个票息在今日的累计值（但是还未付），换句话说，这是债券自从上个票息起累计的利息。 Accrued Interest The current value of the earned portion of the next coupon payment due (but not yet paid) on a transaction or, in other words, the interest that has accumulated on a bond since the last coupon payment at any point up to but not including the valuation date.
英文名称：Duration 中文名称：久期衡量债券价格对利率变化的敏感性的主要标准，亦可视为投资人收回其债券投资的资金所需时间的一个指标。久期等于利率变动一个单位所引起的价格变动，如市场利率变动1％，债券的价格变动2，则久期是2。 A measure of the sensitivity of the price (the value of principal) of a fixed-income investment to a change in interest rates. Duration is expressed as a number of years. Rising interest rates mean falling bond prices, while declining interest rates mean rising bond prices. The duration number is a complicated calculation involving present value, yield, coupon, final maturity and call features. Fortunately for investors, this indicator is a standard data point provided in the presentation of comprehensive bond and bond mutual fund information. The bigger the duration number, the greater the interest-rate risk or reward for bond prices. It is a common misconception among non-professional investors that bonds and bond funds are risk free. They are not. Investors need to be aware of two main risks that can affect a bond's investment value: credit risk (default) and interest rate risk (rate fluctuations). The duration indicator addresses the latter issue.
登录
工商服务
危机公关
金融律师
app开发
财税服务
金融牌照
网站建设
知识产权
企业征信
审计评估