英语单词讲解 unit 29
1.United States Treasury Securities
United States Treasury Securities are government debt instruments issued by the United States Department of the Treasury to finance the national debt of the United States. Treasury securities are often referred to simply as Treasuries. Since 2012 the management of government debt has been arranged by the Bureau of the Fiscal Service, succeeding the Bureau of the Public Debt. There are four types of marketable treasury securities: Treasury bills, Treasury notes, Treasury bonds, and Treasury Inflation Protected Securities (TIPS). There are also several types of non-marketable treasury securities including State and Local Government Series (SLGS), Government Account Series debt issued to government-managed trust funds, and savings bonds. All of the marketable Treasury securities are very liquid and are heavily traded on the secondary market. The non-marketable securities (such as savings bonds) are issued to subscribers and cannot be transferred through market sales.
美国的国库券是美国财政部通过公债局发行的政府债券。国库证券是美国联邦政府筹措借款的工具，他们常被简称为Treasuries。其中有四种有价证券(可转让证券)：T-Bills、T-Notes、T-Bonds、通涨保值债券(Treasury Inflation Protected Securities，TIPS)，还有数种不可转让证券，例如：州和地方政府系列债(State and Local Government Series，SLGS)、对政府管理的信托基金发行的政府帐户债券(Government Account Series debt)、储蓄债券(Saving Bonds)。有价证券的流通性非常高，在二级市场的交易非常活络，而不可转让证券一经购买就不能在市场上交易。
Gilt-edged securities are bonds issued by certain national governments. The term is of British origin, and originally referred to the debt securities issued by the Bank of England, which had a gilt (or gilded) edge. Hence, they are known as gilt-edged securities, or gilts for short. Today the term is used in the United Kingdom as well as some Commonwealth nations, such as South Africa and India. However, when reference is made to "gilts", what is generally meant is "UK gilts," unless otherwise specified.
A central bank, reserve bank, or monetary authority is an institution that manages a state's currency, money supply, and interest rates. Central banks also usually oversee the commercial banking system of their respective countries. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the amount of money in the state, and usually also prints the national currency, which usually serves as the state's legal tender. Examples include the European Central Bank (ECB) and the Federal Reserve of the United States. The primary function of a central bank is to manage the nation's money supply (monetary policy), through active duties such as managing interest rates, setting the reserve requirement, and acting as a lender of last resort to the banking sector during times of bank insolvency or financial crisis. Central banks usually also have supervisory powers, intended to prevent bank runs and to reduce the risk that commercial banks and other financial institutions engage in reckless or fraudulent behavior. Central banks in most developed nations are institutionally designed to be independent from political interference. Still, limited control by the executive and legislative bodies usually exists. The chief executive of a central bank is normally known as the Governor, President or Chairman.
中央银行，简称央行，是负责该国或该一区域(如欧盟)货币政策的主体机构，通常也是一个经济共同体的唯一货币发行机构。正常的发行方式为贷款和收买外汇。央行对于银行和其他金融机构也有监督权，确保它们不会莽撞行事或有欺瞒行为。最高长官是央行总裁(Governor)，中华民国中央银行亦如此称之，而中国人民银行称为行长，欧盟央行称为主席(President)，在香港金融管理局和新加坡金融管理局则是总裁(Chief Executive/Managing Director)。