Quasi-currency: generally refers to time deposits, savings deposits, foreign currency deposits and various short-term credit instruments, such as bank acceptance bills and short-term treasury bills.
2. Limited legal compensation: the symmetry of unlimited legal compensation. Refers to the limited payment ability of tokens, that is, each time the payment exceeds a certain limit, the other party has the right to refuse to accept it.
3. Unlimited legal compensation: the symmetry of limited legal compensation. It means that the standard currency has unlimited ability to pay and is endowed with the power of circulation by law. No matter how much money is paid each time, the payee shall not refuse.
4. Discount: refers to the transfer of a commercial bill by the holder in order to obtain cash before the bill expires and pay certain interest to the financial institution. Essentially, it is a special form of lending.
5. Acceptance: refers to the behavior that the drawee or the designated bank confirms the contents of the bill, and makes a commitment to pay at face value and signs it before the bill expires.
6. Stock price index: that is, the average price reflecting the changes in the stock market.
7. Statutory deposit reserve: China's financial authorities legally stipulate that the demand deposits absorbed by commercial banks must be turned over to the central bank in a certain proportion, which is called the statutory deposit reserve ratio of commercial banks.
8. Securities market: refers to the actual transaction price of securities bought and sold in the secondary market. The market of securities mainly depends on two factors: one is the income of securities, and the other is the market interest rate at that time.
9. Fixed exchange rate: divided according to whether the exchange rate is fixed or not. The fixed exchange rate is the ratio of one country's currency to other countries' currencies, which fluctuates within a certain range.
10. Money multiplier: refers to the expansion multiple between the initial amount of money provided by the central bank and the final amount of money in the process of money supply.
1 1 shadow banking: Generally speaking, it refers to those non-bank financial institutions that have some banking functions but are not regulated or less regulated. Simply understood, shadow banking refers to financial institutions that can provide credit but are not banks. China shadow banking mainly includes off-balance-sheet businesses such as trust companies, guarantee companies, pawn shops, money market funds, various private equity funds, microfinance companies and various financial institutions. Features: many institutions, small scale, low leverage but rapid development.
12. Producer price index): PPI is the producer price index, which measures the (average) price of products produced by domestic producers. The rise in PPI means that the production price index of enterprises has risen. PPI will have a certain impact on CPI (Consumer Price Index). It reflects the price level of production links, while CPI reflects the price level of consumption links. Generally, the fluctuation of the overall price level first appears in the production field, then spreads to the downstream industries through the industrial chain, and finally affects the consumer goods in the circulation field.
13.LOF fund: LOF fund, English full name is "listened open-ended fund", also called "listed open-end fund", that is, after the issuance of listed open-end fund, investors can purchase and redeem fund shares at designated outlets or trade funds on exchanges. However, if investors want to sell the fund shares purchased at designated outlets, they must go through certain transfer custody procedures. Similarly, if they want to redeem the fund shares purchased online at designated outlets, they must also go through certain transfer custody procedures.
14. qfll: QFII (qualified foreign institutional investors) is short for qualified foreign institutional investors, and QFII mechanism refers to the qualification accreditation system for overseas professional investment institutions to invest in China. In some countries and regions, especially emerging market economies, foreign investment may have a greater negative impact on their securities markets because the currency is not fully convertible and the capital account is not yet open. Therefore, adopt QFIII system, introduce foreign capital to a limited extent, open the capital market and carry out reverse repurchase;
15. Forward repurchase and reverse repurchase: both are behaviors of the central bank in the open market and a way to adjust monetary policy. Repurchase is a trading bank in which the People's Bank of China sells securities to primary dealers and agrees to repurchase securities on a specific date in the future. Recovering liquidity from the market is an operation of the central bank, and the expiration of repurchase is an operation of the central bank to put liquidity into the market. Reverse repurchase is a trading behavior that the People's Bank of China buys securities from a primary dealer and agrees to sell them to the primary dealer on a specific date in the future. Putting liquidity into the market is the operation of the central bank, and the expiration of reverse repurchase is the operation of the central bank to recover liquidity from the market.
16. hot money: also known as hot money or speculative short-term capital, usually refers to short-term capital that flows rapidly for the purpose of speculative profit, and it is often easy to induce market and even financial turmoil between its entry and exit. The investment targets of hot money are mainly foreign exchange, stocks, precious metals and their derivatives markets. It is characterized by strong speculation, quick liquidity and strong concealment.