flash forward金融英语演讲稿
金融英语演讲稿
托业英语培训Strategic Risk Management in an Interconnected World
truck是什么意思It is not an overstatement to say that we are in the midst of a fundamental transformation in financial rvices, with market-wide ramifications. At the heart of that transformation lies a much more inten emphasis on funding and liquidity. Additionally, we are all witnessing the extent to which banking and financial markets are interconnected.
The current environment certainly prents some fundamental challenges for banking institutions of all types and sizes.1 Their boards of directors and nior management, who bear the responsibility to t strategy and develop and maintain risk management practices, must not only address current difficulties, but must also establish a framework for the inevitable uncertainty that lies ahead. Notably, the ongoing fundamental transformation in financial rvices offers great potential opportunities for tho institutions able to integrate s
trategy and risk management successfully, and I will argue that survival will hinge upon such an integration in what I will call a "strategic risk management framework."
In the remainder of my remarks, I plan to discuss the necessity for institutions to improve the linkage between overall corporate strategy and risk management, and how they can develop concrete strategic risk management frameworks. I will argue that in the highly interconnected financial world, funding and liquidity need to be at the center of such frameworks. But before doing so, I will briefly review recent events.
preference是什么意思
feat是什么意思Recent Events in Financial Markets
We are indeed witnessing dramatic shifts in the structure of financial markets. The are quite extraordinary times that have required extraordinary respons from the Federal Rerve, the Treasury, and other governmental bodies in the United States and around the world. Since last summer, there had been a continuous deterioration of conditions in financial markets, becoming much more acute since March of this year. For instance, we have en significant disruption in veral key ctors of our financial system, such as no
小学生法制教育内容rmally creditworthy companies having difficulty issuing commercial paper, dramatic increas in interbank lending rates, and significant concerns about money market funds "breaking the buck." The are ctors usually considered to be relatively low risk and quite liquid, so disruptions here have signaled the extent and depth of this turmoil and the lack of confidence among financial market participants.
The Federal Rerve has responded to the developments in two broad ways. First, following classic tenets of central banking, the Federal Rerve has provided large amounts of liquidity to the financial system to cushion the effects of tight conditions in short-term funding markets. Second, to reduce the downside risks to growth emanating from the tightening of credit, the Fed, in a ries of moves that began last September, has significantly lowered its target for the federal funds rate. Indeed, earlier this month, in an unprecedented joint action with five other major central banks and in respon to the adver implications of the deepening crisis for the economic outlook, the Federal Rerve again ead the stance of monetary policy. We will continue to u all the tools at our disposal to improve market functioning and liquidity, to reduce pressures in key cre
dit and funding markets, and to complement the steps the Treasury and foreign governments will be taking to strengthen the financial system.
As a result of the ongoing upheavals, we are witnessing substantial institutional changes, in which some long-standing financial institutions have either failed, sought government assistance, or were forced to merge with other institutions. What were the major U.S. investment banks have esntially disappeared, such as by merging with bank holding companies or becoming bank holding companies themlves. Other major banks and thrifts have been absorbed into other banking organizations. Financial institutions and investors have placed much more emphasis on the banking charter, likely driven by banks' more stable funding and deposit insurance, even before the recently announced government support of the banking system.
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Over the past year, there has been increasing concern among financial institutions and other counterparties about the health of some financial institutions. Uncertainty about the value of asts and other exposures, as well as uncertainty about the ability of institutions
乘客英文>generousto sustain continued access to funding, has caud financial institutions to operate with great caution and hoard funds. What was once a healthy, active interbank market has become frozen from time to time, as some institutions feel that conditions are so uncertain that they cannot even lend to long-standing clients or counterparties. In quite a dramatic shift from just 18 months ago, there is much more scrutiny being placed on capital adequacy, with financial institutions trying to retain as much capital as they can, rai as much as possible, and demonstrate that their capital positions are not impaired. The Capital Purcha Plan by the U.S. Treasury Department under the Emergency Economic Stabilization Act is focud on improving capital adequacy and, hence, improving confidence in the interbank market.
初次见面英语怎么说Perhaps one of the most pressing issues, as I mentioned briefly earlier, is the inten emphasis on funding. This dramatic shift in concerns about a financial institution's funding ba results in much more focus on the stability of funding sources--one of the reasons that the bank charter has become so attractive. Indeed, we are eing the emphasis on funding driving many other factors that affect financial institutions, including the viability of
various aspects of firms' business models. And problems with liquidity have affected capital levels, which in turn have further exacerbated liquidity concerns. It is indeed quite remarkable how this "flight to liquidity" has brought about so many institutional and structural changes, and become esntially the most important factor (at least now) for the viability of a financial institution.
