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银行财务报表分析中英文对照外文翻译文献

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银行财务报表分析中英文对照外文翻译文献中英文对照外文翻译文献(文档含英文原文和中文翻译)BanksanalysisoffinancialdataAbstractAstochasticanalysisoffinancialdataispresented.Inparticularweinvestigatehowthestatisticsoflogreturnschangewithdifferenttimedelayst.Thescale-dependentbehaviouroffinancialdatacanbedividedintotworegions....

银行财务报表分析中英文对照外文翻译文献
中英文对照外文翻译文献(文档含英文原文和中文翻译)BanksanalysisoffinancialdataAbstractAstochasticanalysisoffinancialdataispresented.Inparticularweinvestigatehowthestatisticsoflogreturnschangewithdifferenttimedelayst.Thescale-dependentbehaviouroffinancialdatacanbedividedintotworegions.Thefirsttimerange,thesmall-timescaleregion(intherangeofseconds)seemstobecharacterisedbyuniversalfeatures.Thesecondtimerange,themedium-timescalerangefromseveralminutesupwardscanbecharacterisedbyacascadeprocess,whichisgivenbyastochasticMarkovprocessinthescaleτ.AcorrespondingFokker–Planckequationcanbeextractedfromgivendataandprovidesanon-equilibriumthermodynamicaldescriptionofthecomplexityoffinancialdata.Keywords:Banks;Financialmarkets;Stochasticprocesses;Fokker–Planckequation1.IntroductionFinancialstatementsforbankspresentadifferentanalyticalproblemthanmanufacturingandservicecompanies.Asaresult,analysisofabank’sfinancialstatementsrequiresadistinctapproachthatrecognizesabank’ssomewhatuniquerisks.Bankstakedepositsfromsavers,payinginterestonsomeoftheseaccounts.Theypassthesefundsontoborrowers,receivinginterestontheloans.Theirprofitsarederivedfromthespreadbetweentheratetheypayforfundsandtheratetheyreceivefromborrowers.Thisabilitytopooldepositsfrommanysourcesthatcanbelenttomanydifferentborrowerscreatestheflowoffundsinherentinthebankingsystem.Bymanagingthisflowoffunds,banksgenerateprofits,actingastheintermediaryofinterestpaidandinterestreceivedandtakingontherisksofofferingcredit.2.Small-scaleanalysisBankingisahighlyleveragedbusinessrequiringregulatorstodictateminimalcapitallevelstohelpensurethesolvencyofeachbankandthebankingsystem.IntheUS,abank’sprimaryregulatorcouldbetheFederalReserveBoard,theOfficeoftheComptrolleroftheCurrency,theOfficeofThriftSupervisionoranyoneof50stateregulatorybodies,dependingonthecharterofthebank.WithintheFederalReserveBoard,thereare12districtswith12differentregulatorystaffinggroups.Theseregulatorsfocusoncompliancewithcertainrequirements,restrictionsandguidelines,aimingtoupholdthesoundnessandintegrityofthebankingsystem.Asoneofthemosthighlyregulatedbankingindustriesintheworld,investorshavesomelevelofassuranceinthesoundnessofthebankingsystem.Asaresult,investorscanfocusmostoftheireffortsonhowabankwillperformindifferenteconomicenvironments.Belowisasampleincomestatementandbalancesheetforalargebank.Thefirstthingtonoticeisthatthelineitemsinthestatementsarenotthesameasyourtypicalmanufacturingorservicefirm.Instead,thereareentriesthatrepresentinterestearnedorexpensedaswellasdepositsandloans.Asfinancialintermediaries,banksassumetwoprimarytypesofriskastheymanagetheflowofmoneythroughtheirbusiness.Interestrateriskisthemanagementofthespreadbetweeninterestpaidondepositsandreceivedonloansovertime.Creditriskisthelikelihoodthataborrowerwilldefaultonitsloanorlease,causingthebanktoloseanypotentialinterestearnedaswellastheprincipalthatwasloanedtotheborrower.Asinvestors,thesearetheprimaryelementsthatneedtobeunderstoodwhenanalyzingabank’sfinancialstatement.3.MediumscaleanalysisTheprimarybusinessofabankismanagingthespreadbetweendeposits.Basicallywhentheinterestthatabankearnsfromloansisgreaterthantheinterestitmustpayondeposits,itgeneratesapositiveinterestspreadornetinterestincome.Thesizeofthisspreadisamajordeterminantoftheprofitgeneratedbyabank.Thisinterestrateriskisprimarilydeterminedbytheshapeoftheyieldcurve.Asaresult,netinterestincomewillvary,duetodifferencesinthetimingofaccrualchangesandchangingrateandyieldcurverelationships.Changesinthegenerallevelofmarketinterestratesalsomaycausechangesinthevolumeandmixofabank’sbalancesheetproducts.Forexample,wheneconomicactivitycontinuestoexpandwhileinterestratesarerising,commercialloandemandmayincreasewhileresidentialmortgageloangrowthandprepaymentsslow.
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