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101 near cash
!гос. фин. The resource budget contains a separate control total for “near cash” expenditure, that is expenditure such as pay and current grants which impacts directly on the measure of the golden rule.This paper provides background information on the framework for the planning and control of public expenditure in the UK which has been operated since the 1998 Comprehensive Spending Review (CSR). It sets out the different classifications of spending for budgeting purposes and why these distinctions have been adopted. It discusses how the public expenditure framework is designed to ensure both sound public finances and an outcome-focused approach to public expenditure.The UK's public spending framework is based on several key principles:"consistency with a long-term, prudent and transparent regime for managing the public finances as a whole;" "the judgement of success by policy outcomes rather than resource inputs;" "strong incentives for departments and their partners in service delivery to plan over several years and plan together where appropriate so as to deliver better public services with greater cost effectiveness; and"the proper costing and management of capital assets to provide the right incentives for public investment.The Government sets policy to meet two firm fiscal rules:"the Golden Rule states that over the economic cycle, the Government will borrow only to invest and not to fund current spending; and"the Sustainable Investment Rule states that net public debt as a proportion of GDP will be held over the economic cycle at a stable and prudent level. Other things being equal, net debt will be maintained below 40 per cent of GDP over the economic cycle.Achievement of the fiscal rules is assessed by reference to the national accounts, which are produced by the Office for National Statistics, acting as an independent agency. The Government sets its spending envelope to comply with these fiscal rules.Departmental Expenditure Limits ( DEL) and Annually Managed Expenditure (AME)"Departmental Expenditure Limit ( DEL) spending, which is planned and controlled on a three year basis in Spending Reviews; and"Annually Managed Expenditure ( AME), which is expenditure which cannot reasonably be subject to firm, multi-year limits in the same way as DEL. AME includes social security benefits, local authority self-financed expenditure, debt interest, and payments to EU institutions.More information about DEL and AME is set out below.In Spending Reviews, firm DEL plans are set for departments for three years. To ensure consistency with the Government's fiscal rules departments are set separate resource (current) and capital budgets. The resource budget contains a separate control total for “near cash” expenditure, that is expenditure such as pay and current grants which impacts directly on the measure of the golden rule.To encourage departments to plan over the medium term departments may carry forward unspent DEL provision from one year into the next and, subject to the normal tests for tautness and realism of plans, may be drawn down in future years. This end-year flexibility also removes any incentive for departments to use up their provision as the year end approaches with less regard to value for money. For the full benefits of this flexibility and of three year plans to feed through into improved public service delivery, end-year flexibility and three year budgets should be cascaded from departments to executive agencies and other budget holders.Three year budgets and end-year flexibility give those managing public services the stability to plan their operations on a sensible time scale. Further, the system means that departments cannot seek to bid up funds each year (before 1997, three year plans were set and reviewed in annual Public Expenditure Surveys). So the credibility of medium-term plans has been enhanced at both central and departmental level.Departments have certainty over the budgetary allocation over the medium term and these multi-year DEL plans are strictly enforced. Departments are expected to prioritise competing pressures and fund these within their overall annual limits, as set in Spending Reviews. So the DEL system provides a strong incentive to control costs and maximise value for money.There is a small centrally held DEL Reserve. Support from the Reserve is available only for genuinely unforeseeable contingencies which departments cannot be expected to manage within their DEL.AME typically consists of programmes which are large, volatile and demand-led, and which therefore cannot reasonably be subject to firm multi-year limits. The biggest single element is social security spending. Other items include tax credits, Local Authority Self Financed Expenditure, Scottish Executive spending financed by non-domestic rates, and spending financed from the proceeds of the National Lottery.AME is reviewed twice a year as part of the Budget and Pre-Budget Report process reflecting the close integration of the tax and benefit system, which was enhanced by the introduction of tax credits.AME is not subject to the same three year expenditure limits as DEL, but is still part of the overall envelope for public expenditure. Affordability is taken into account when policy decisions affecting AME are made. The Government has committed itself not to take policy measures which are likely to have the effect of increasing social security or other elements of AME without taking steps to ensure that the effects of those decisions can be accommodated prudently within the Government's fiscal rules.Given an overall envelope for public spending, forecasts of AME affect the level of resources available for DEL spending. Cautious estimates and the AME margin are built in to these AME forecasts and reduce the risk of overspending on AME.Together, DEL plus AME sum to Total Managed Expenditure (TME). TME is a measure drawn from national accounts. It represents the current and capital spending of the public sector. The public sector is made up of central government, local government and public corporations.Resource and Capital Budgets are set in terms of accruals information. Accruals information measures resources as they are consumed rather than when the cash is paid. So for example the Resource Budget includes a charge for depreciation, a measure of the consumption or wearing out of capital assets."Non cash charges in budgets do not impact directly on the fiscal framework. That may be because the national accounts use a different way of measuring the same thing, for example in the case of the depreciation of departmental assets. Or it may be that the national accounts measure something different: for example, resource budgets include a cost of capital charge reflecting the opportunity cost of holding capital; the national accounts include debt interest."Within the Resource Budget DEL, departments have separate controls on:"Near cash spending, the sub set of Resource Budgets which impacts directly on the Golden Rule; and"The amount of their Resource Budget DEL that departments may spend on running themselves (e.g. paying most civil servants’ salaries) is limited by Administration Budgets, which are set in Spending Reviews. Administration Budgets are used to ensure that as much money as practicable is available for front line services and programmes. These budgets also help to drive efficiency improvements in departments’ own activities. Administration Budgets exclude the costs of frontline services delivered directly by departments.The Budget preceding a Spending Review sets an overall envelope for public spending that is consistent with the fiscal rules for the period covered by the Spending Review. In the Spending Review, the Budget AME forecast for year one of the Spending Review period is updated, and AME forecasts are made for the later years of the Spending Review period.The 1998 Comprehensive Spending Review ( CSR), which was published in July 1998, was a comprehensive review of departmental aims and objectives alongside a zero-based analysis of each spending programme to determine the best way of delivering the Government's objectives. The 1998 CSR allocated substantial additional resources to the Government's key priorities, particularly education and health, for the three year period from 1999-2000 to 2001-02.Delivering better public services does not just depend on how much money the Government spends, but also on how well it spends it. Therefore the 1998 CSR introduced Public Service Agreements (PSAs). Each major government department was given its own PSA setting out clear targets for achievements in terms of public service improvements.The 1998 CSR also introduced the DEL/ AME framework for the control of public spending, and made other framework changes. Building on the investment and reforms delivered by the 1998 CSR, successive spending reviews in 2000, 2002 and 2004 have:"provided significant increase in resources for the Government’s priorities, in particular health and education, and cross-cutting themes such as raising productivity; extending opportunity; and building strong and secure communities;" "enabled the Government significantly to increase investment in public assets and address the legacy of under investment from past decades. Departmental Investment Strategies were introduced in SR2000. As a result there has been a steady increase in public sector net investment from less than ¾ of a per cent of GDP in 1997-98 to 2¼ per cent of GDP in 2005-06, providing better infrastructure across public services;" "introduced further refinements to the performance management framework. PSA targets have been reduced in number over successive spending reviews from around 300 to 110 to give greater focus to the Government’s highest priorities. The targets have become increasingly outcome-focused to deliver further improvements in key areas of public service delivery across Government. They have also been refined in line with the conclusions of the Devolving Decision Making Review to provide a framework which encourages greater devolution and local flexibility. Technical Notes were introduced in SR2000 explaining how performance against each PSA target will be measured; and"not only allocated near cash spending to departments, but also – since SR2002 - set Resource DEL plans for non cash spending.To identify what further investments and reforms are needed to equip the UK for the global challenges of the decade ahead, on 19 July 2005 the Chief Secretary to the Treasury announced that the Government intends to launch a second Comprehensive Spending Review (CSR) reporting in 2007.A decade on from the first CSR, the 2007 CSR will represent a long-term and fundamental review of government expenditure. It will cover departmental allocations for 2008-09, 2009-10 and 2010 11. Allocations for 2007-08 will be held to the agreed figures already announced by the 2004 Spending Review. To provide a rigorous analytical framework for these departmental allocations, the Government will be taking forward a programme of preparatory work over 2006 involving:"an assessment of what the sustained increases in spending and reforms to public service delivery have achieved since the first CSR. The assessment will inform the setting of new objectives for the decade ahead;" "an examination of the key long-term trends and challenges that will shape the next decade – including demographic and socio-economic change, globalisation, climate and environmental change, global insecurity and technological change – together with an assessment of how public services will need to respond;" "to release the resources needed to address these challenges, and to continue to secure maximum value for money from public spending over the CSR period, a set of zero-based reviews of departments’ baseline expenditure to assess its effectiveness in delivering the Government’s long-term objectives; together with"further development of the efficiency programme, building on the cross cutting areas identified in the Gershon Review, to embed and extend ongoing efficiency savings into departmental expenditure planning.The 2007 CSR also offers the opportunity to continue to refine the PSA framework so that it drives effective delivery and the attainment of ambitious national standards.Public Service Agreements (PSAs) were introduced in the 1998 CSR. They set out agreed targets detailing the outputs and outcomes departments are expected to deliver with the resources allocated to them. The new spending regime places a strong emphasis on outcome targets, for example in providing for better health and higher educational standards or service standards. The introduction in SR2004 of PSA ‘standards’ will ensure that high standards in priority areas are maintained.The Government monitors progress against PSA targets, and departments report in detail twice a year in their annual Departmental Reports (published in spring) and in their autumn performance reports. These reports provide Parliament and the public with regular updates on departments’ performance against their targets.Technical Notes explain how performance against each PSA target will be measured.To make the most of both new investment and existing assets, there needs to be a coherent long term strategy against which investment decisions are taken. Departmental Investment Strategies (DIS) set out each department's plans to deliver the scale and quality of capital stock needed to underpin its objectives. The DIS includes information about the department's existing capital stock and future plans for that stock, as well as plans for new investment. It also sets out the systems that the department has in place to ensure that it delivers its capital programmes effectively.This document was updated on 19 December 2005.Near-cash resource expenditure that has a related cash implication, even though the timing of the cash payment may be slightly different. For example, expenditure on gas or electricity supply is incurred as the fuel is used, though the cash payment might be made in arrears on aquarterly basis. Other examples of near-cash expenditure are: pay, rental.Net cash requirement the upper limit agreed by Parliament on the cash which a department may draw from theConsolidated Fund to finance the expenditure within the ambit of its Request forResources. It is equal to the agreed amount of net resources and net capital less non-cashitems and working capital.Non-cash cost costs where there is no cash transaction but which are included in a body’s accounts (or taken into account in charging for a service) to establish the true cost of all the resourcesused.Non-departmental a body which has a role in the processes of government, but is not a government public body, NDPBdepartment or part of one. NDPBs accordingly operate at arm’s length from governmentMinisters.Notional cost of a cost which is taken into account in setting fees and charges to improve comparability with insuranceprivate sector service providers.The charge takes account of the fact that public bodies donot generally pay an insurance premium to a commercial insurer.the independent body responsible for collecting and publishing official statistics about theUK’s society and economy. (At the time of going to print legislation was progressing tochange this body to the Statistics Board).Office of Government an office of the Treasury, with a status similar to that of an agency, which aims to maximise Commerce, OGCthe government’s purchasing power for routine items and combine professional expertiseto bear on capital projects.Office of the the government department responsible for discharging the Paymaster General’s statutoryPaymaster General,responsibilities to hold accounts and make payments for government departments and OPGother public bodies.Orange bookthe informal title for Management of Risks: Principles and Concepts, which is published by theTreasury for the guidance of public sector bodies.Office for NationalStatistics, ONS60Managing Public Money————————————————————————————————————————"GLOSSARYOverdraftan account with a negative balance.Parliament’s formal agreement to authorise an activity or expenditure.Prerogative powerspowers exercisable under the Royal Prerogative, ie powers which are unique to the Crown,as contrasted with common-law powers which may be available to the Crown on the samebasis as to natural persons.Primary legislationActs which have been passed by the Westminster Parliament and, where they haveappropriate powers, the Scottish Parliament and the Northern Ireland Assembly. Begin asBills until they have received Royal Assent.arrangements under which a public sector organisation contracts with a private sectorentity to construct a facility and provide associated services of a specified quality over asustained period. See annex 7.5.Proprietythe principle that patterns of resource consumption should respect Parliament’s intentions,conventions and control procedures, including any laid down by the PAC. See box 2.4.Public Accountssee Committee of Public Accounts.CommitteePublic corporationa trading body controlled by central government, local authority or other publiccorporation that has substantial day to day operating independence. See section 7.8.Public Dividend finance provided by government to public sector bodies as an equity stake; an alternative to Capital, PDCloan finance.Public Service sets out what the public can expect the government to deliver with its resources. EveryAgreement, PSAlarge government department has PSA(s) which specify deliverables as targets or aimsrelated to objectives.a structured arrangement between a public sector and a private sector organisation tosecure an outcome delivering good value for money for the public sector. It is classified tothe public or private sector according to which has more control.Rate of returnthe financial remuneration delivered by a particular project or enterprise, expressed as apercentage of the net assets employed.Regularitythe principle that resource consumption should accord with the relevant legislation, therelevant delegated authority and this document. See box 2.4.Request for the functional level into which departmental Estimates may be split. RfRs contain a number Resources, RfRof functions being carried out by the department in pursuit of one or more of thatdepartment’s objectives.Resource accountan accruals account produced in line with the Financial Reporting Manual (FReM).Resource accountingthe system under which budgets, Estimates and accounts are constructed in a similar wayto commercial audited accounts, so that both plans and records of expenditure allow in fullfor the goods and services which are to be, or have been, consumed – ie not just the cashexpended.Resource budgetthe means by which the government plans and controls the expenditure of resources tomeet its objectives.Restitutiona legal concept which allows money and property to be returned to its rightful owner. Ittypically operates where another person can be said to have been unjustly enriched byreceiving such monies.Return on capital the ratio of profit to capital employed of an accounting entity during an identified period.employed, ROCEVarious measures of profit and of capital employed may be used in calculating the ratio.Public Privatepartnership, PPPPrivate Finance Initiative, PFIParliamentaryauthority61Managing Public Money"————————————————————————————————————————GLOSSARYRoyal charterthe document setting out the powers and constitution of a corporation established underprerogative power of the monarch acting on Privy Council advice.Second readingthe second formal time that a House of Parliament may debate a bill, although in practicethe first substantive debate on its content. If successful, it is deemed to denoteParliamentary approval of the principle of the proposed legislation.Secondary legislationlaws, including orders and regulations, which are made using powers in primary legislation.Normally used to set out technical and administrative provision in greater detail thanprimary legislation, they are subject to a less intense level of scrutiny in Parliament.European legislation is,however,often implemented in secondary legislation using powers inthe European Communities Act 1972.Service-level agreement between parties, setting out in detail the level of service to be performed.agreementWhere agreements are between central government bodies, they are not legally a contractbut have a similar function.Shareholder Executive a body created to improve the government’s performance as a shareholder in businesses.Spending reviewsets out the key improvements in public services that the public can expect over a givenperiod. It includes a thorough review of departmental aims and objectives to find the bestway of delivering the government’s objectives, and sets out the spending plans for the givenperiod.State aidstate support for a domestic body or company which could distort EU competition and sois not usually allowed. See annex 4.9.Statement of Excessa formal statement detailing departments’ overspends prepared by the Comptroller andAuditor General as a result of undertaking annual audits.Statement on Internal an annual statement that Accounting Officers are required to make as part of the accounts Control, SICon a range of risk and control issues.Subheadindividual elements of departmental expenditure identifiable in Estimates as single cells, forexample cell A1 being administration costs within a particular line of departmental spending.Supplyresources voted by Parliament in response to Estimates, for expenditure by governmentdepartments.Supply Estimatesa statement of the resources the government needs in the coming financial year, and forwhat purpose(s), by which Parliamentary authority is sought for the planned level ofexpenditure and income.Target rate of returnthe rate of return required of a project or enterprise over a given period, usually at least a year.Third sectorprivate sector bodies which do not act commercially,including charities,social and voluntaryorganisations and other not-for-profit collectives. See annex 7.7.Total Managed a Treasury budgeting term which covers all current and capital spending carried out by the Expenditure,TMEpublic sector (ie not just by central departments).Trading fundan organisation (either within a government department or forming one) which is largely orwholly financed from commercial revenue generated by its activities. Its Estimate shows itsnet impact, allowing its income from receipts to be devoted entirely to its business.Treasury Minutea formal administrative document drawn up by the Treasury, which may serve a wide varietyof purposes including seeking Parliamentary approval for the use of receipts asappropriations in aid, a remission of some or all of the principal of voted loans, andresponding on behalf of the government to reports by the Public Accounts Committee(PAC).62Managing Public Money————————————————————————————————————————GLOSSARY63Managing Public MoneyValue for moneythe process under which organisation’s procurement, projects and processes aresystematically evaluated and assessed to provide confidence about suitability, effectiveness,prudence,quality,value and avoidance of error and other waste,judged for the public sectoras a whole.Virementthe process through which funds are moved between subheads such that additionalexpenditure on one is met by savings on one or more others.Votethe process by which Parliament approves funds in response to supply Estimates.Voted expenditureprovision for expenditure that has been authorised by Parliament. Parliament ‘votes’authority for public expenditure through the Supply Estimates process. Most expenditureby central government departments is authorised in this way.Wider market activity activities undertaken by central government organisations outside their statutory duties,using spare capacity and aimed at generating a commercial profit. See annex 7.6.Windfallmonies received by a department which were not anticipated in the spending review.———————————————————————————————————————— -
102 TMF
1) Компьютерная техника: Terminological Markup Framework3) Техника: Thin Metal Film, telemetry module facility, time marker frequency4) Шутливое выражение: Tom Morgan Favorite, Totally Marks Fault5) Вычислительная техника: Transaction Monitoring Facility (DB, Tandem), Tivoli Management Framework (Tivoli)6) Литература: ToastMasters Function7) Фирменный знак: Technology Market Force, Inc., The Music Factory8) Экология: Tailings Management Facility10) Деловая лексика: Tele- Manufacturing Facility, Terminate Merchant File11) Химическое оружие: Toxic Maintenance Facility12) Расширение файла: Tagged Font Metric file (WordPerfect for Win)13) Общественная организация: Texas Medical Foundation, The Marrow Foundation, The Medical Foundation14) Чат: Too Much Fun, Twist My Fate -
103 protocol
протокол (формат передаваемых сообщений, соглашения и правила, по которым происходит обмен информацией между компьютерами или системами)- application-oriented protocol
- binary protocol
- BISYNC protocol
- bisynchronous protocol
- bit-oriented protocol
- blocking protocol
- bridging protocol
- broadcast protocol
- bus polling protocol
- bus protocol
- carrier sense multiple access protocol
- character-asynchronous protocol
- character-oriented protocol
- code-independent protocol
- commit protocol
- communications protocol
- data collection protocol
- data communications protocol
- echo-handling protocol
- end-to-end protocol
- feedback-based protocol
- fixed path protocol
- format protocol
- function management protocol
- handshaking protocol
- high-level protocol
- host-host protocol
- infrared communication protocol
- interactive protocol
- interface protocol
- interfacing protocol
- internet protocol
- internetwork transport protocol
- interrupt protocol
- intralayer management protocol
- intranet protocol
- lightweight protocol
- line protocol
- link-level protocol
- link protocol
- link-state protocol
- locking protocol
- log-tape-write-ahead protocol
- long-haul protocol
- low-level-access protocol
- market-based protocol
- message-level protocol
- network control protocol
- network graphics protocol
- network voice protocol
- network-wide access protocol
- nonblocking protocol
- OSI protocol
- packet protocol
- pass-the-buck protocol
- path control protocol
- path independent protocol
- peer-to-peer protocol
- peer protocol - post office protocol
- reliable status control protocol
- SDLC protocol
- security protocol
- service protocol
- session control protocol
- session protocol
- signaling protocol
- SNA protocol
- split-transaction protocol
- stream protocol
- thinking-out loud protocol
- timed-token protocol
- token-access protocol - transport protocol
- virtual-circuit protocol
- virtual protocolEnglish-Russian dictionary of computer science and programming > protocol
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104 COASE THEOREM
Теорема Коуза
Теорема, в которой утверждается, что экономическая эффективность достигается в том случае, если полностью распределены права собственности и существует возможность свободно покупать и продавать их на рынке. В процессе обмена права собственности перейдут к тем, для кого они представляют наибольшую ценность. Теорема предлагает решение проблемы внешних эффектов (см. Externalities): при четком распределении прав собственности внешние эффекты исчезают или минимизируются, поскольку их можно трансформировать во внутренние издержки участников рынка. В теореме отрицается возможность фиаско рынка (см. Market failure). По мнению Коуза ключевое значение для успешного функционирования рынка имеют операционные издержки (см. Transaction costs). Если они незначительны, а права собственности четко определены, рынок сам устранит внешние эффекты.Новый англо-русский словарь-справочник. Экономика. > COASE THEOREM
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105 bargain
['bɑːgɪn] 1. сущ.1) соглашение, договорённость; торговая сделкаto make / strike / close a bargain — заключить сделку или соглашение
The colony will not long fulfil its part in this unequal bargain. (H. Martineau) — Колония больше не будет участвовать в этой неравноправной сделке.
- drive a hard bargain- bind a bargain
- be off with one's bargain
- be off one's bargainSyn:2) товар, получаемый в результате заключённой сделки3) выгодная покупка; дёшево купленная вещь4) ( bargains) товары, продаваемые по сниженным ценамYou'll never find anyone at home on bargain day. — В день распродажи вы никого не застанете дома.
••into the bargain — в придачу, к тому же
- Dutch bargain 2. гл.that's a bargain! — по рукам!; договорились!
1) торговатьсяI hate bargaining. — Терпеть не могу торговаться.
The women in the market often bargain away for hours. — Женщины могут торговаться на рынке часами.
The dealer spent hours bargaining for the valuable painting. — Агент несколько часов убеждал продавца снизить цену картины.
2) заключить сделку; договоритьсяThey prefer to bargain with individual clients. — Они предпочитают заключать сделки с отдельными клиентами.
3) (bargain for / on) ожидать, предвидеть (что-л.); быть готовым (к чему-л.); рассчитывать (на кого-л. / что-л.)This is more than I bargained for. — Это даже больше, чем я ожидал.
I had not bargained for such heavy rain, and got very wet without a coat. — Я не ожидал, что пойдет такой дождь и страшно промок без плаща.
I'm bargaining on your help to drive us to the airport. — Я надеюсь, что ты отвезешь нас в аэропорт.
Don't bargain on getting any support from her, she's very selfish. — Не рассчитывай на её помощь, она только о себе думает.
I wouldn't bargain on the speaker arriving soon, as he's got a long way to come. — Я не думаю, что докладчик скоро появится, ему долго ехать.
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106 trade
[treɪd] 1. сущ.1) занятие, ремесло, профессияThey've completely ruined the tourist trade for the next few years. — Они полностью разрушили туристический бизнес на последующие несколько лет.
He learnt his trade as a diver in the North Sea. — Он обучился профессии водолаза на Северном море.
Syn:2) торговля; коммерческая деятельностьbrisk / lively trade — бойкая, оживлённая торговля
to build up / develop / drum up / promote trade — устраивать, развивать торговлю
to carry on / conduct / engage in trade — вести торговлю, торговать
- fair tradeto lose trade — прекращать ( вынужденно) торговлю
- foreign trade
- free trade
- home trade
- illicit trade
- international trade
- maritime trade
- retail trade
- slave trade
- wholesale tradeSyn:commerce 1.3) ( the trade) употр. с гл. в ед. и мн.б) разг. лица, имеющие право продажи спиртных напитков; винокуры, пивовары4)His father was in trade. — Его отец был торговцем.
б) лавка, магазинв) ( the trade) розничные торговцыHe sells only to the trade. — Он продаёт только розничным торговцам.
5) сделка; обменI am willing to make a trade with you. — Я готов совершить с тобой сделку.
Syn:6) клиентура, покупателиSyn:7) рынок товаров, ассортимент товаровSyn:market 1.8)а) диал.; уст. закономерность, привычкаYour misdeed is not accidental, but a trade. — Твоя оплошность не случайна, а закономерна.
Syn:practice 1.10) = the trade wind пассат ( воздушные течения в тропических широтах океанов)2. прил.1) торговый2) профессиональный, относящийся к профсоюзам3. гл.trade unions — тред-юнион; профсоюз
1)а) торговатьб) ходить по магазинам, делать покупкиSyn:shop 2.2) = trade offа) обмениватьA boy traded his knife for a pup. — Мальчик обменял свой ножик на щенка.
б) обмениватьсяThey traded insults. — Они осыпали друг друга оскорблениями.
We traded seats. — Мы обменялись местами.
•Syn:3) продавать в рабство, в неволюSyn:4) ( trade (up)on) извлекать выгоду из (чего-л.), использовать (что-л.) в личных целяхto trade on the credulity of a client — использовать доверчивость покупателя, обмануть покупателя
5) уст. вести дела, иметь дела (с кем-л.)Syn:•- trade in
- trade off
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107 account
n1) счет; запись на счет2) отчет (финансовый)3) брит. период, когда биржевые сделки заключаются с закрытием позиции в расчетный день; амер. запись брокера о сделках, совершенных по поручению клиента4) pl отчетность5) pl бухгалтерские счета6) pl деловые книги
- absorption account
- accumulation account
- adjunct account
- adjustment account
- advance account
- aggregate accounts
- agio account
- annual account
- annual accounts
- appropriation account
- assets account
- ATS account
- balance account
- balancing account
- bank account
- bank giro account
- banking account
- bank's central settlement account
- bear account
- below-line balance account
- bills account
- blocked account
- book account
- budget account
- bull account
- business accounts
- call account
- capital account
- cash account
- certified account
- charge account
- charges account
- checking account
- clearing account
- closed account
- closing account
- combined accounts
- common stock capital accounts
- company's liquidation account
- compound interest account
- consolidated accounts
- consumers account
- control account
- correspondent account
- corresponding accounts
- cost account
- credit account
- creditor's account
- cumulative account
- currency conversion accounts
- current account
- customer account
- debit account
- debtor's account
- deferred account
- demand deposit account
- departmental account
- depreciation account
- depreciation adjustment account
- depreciation reserve account
- detailed account
- discretionary account
- disbursement account
- dividend account
- domestic accounts
- dormant account
- drawing account
- dummy account
- end month account
- end next account
- exchange stabilization account
- expense account
- external account
- external payments account
- extra-budgetary accounts
- final account
- financial account
- fixed assets account
- foreign exchange accounts
- foreign loan and deposit balancing account
- foreign transactions account
- general account
- giro account
- government accounts
- government receipts and expenditures account
- group accounts
- impersonal account
- imprest accounts
- income account
- income statement account
- individual retirement account
- inland account
- interest account
- interest-bearing account
- interest-free account
- interim account
- invalid account
- inventory account
- investment account
- itemized account
- joint account
- liabilities account
- ledger account
- loan account
- loan repayment account
- London Stock Exchange account
- long account
- loro account
- loss and gains account
- manufacturing account
- margin account
- mid-month account
- money market deposit account
- monthly account
- mutual currency account of the International Monetary Fund
- national account
- national income accounts
- nominal account
- nonresident account
- nostro account
- negotiable order of withdrawal account
- NOW account
- numbered account
- off-balance account
- on-call account
- open account
- operating accounts
- outlay accounts
- outstanding account
- over-and-short account
- overdrawn account
- overdue payments account
- overhead accounts
- partnership account
- personal account
- preferred stock capital account
- production account
- profit account
- profit-and-loss account
- proforma account
- property account
- public account
- purchases account
- quarterly account
- quota accounts
- real accounts
- realization account
- reconciled accounts
- registered account
- reserve account
- resident account
- rest of the world account
- retained contribution account
- revenue account
- rubricated account
- running account
- sales account
- savings account
- securities account
- segregated account
- separate account
- settled account
- settlement account
- share account
- short account
- social accounts
- special account
- special fund account
- specified account
- sterling account
- stock account
- stock change account
- stretching account
- subsidiary account
- summary account
- sundry accounts
- super NOW account
- surplus account
- suspense account
- trade payable account
- trade receivable account
- transaction account
- transfer account
- transferable account
- trust account
- uncollective account
- unsettled account
- variance accounts
- vostro account
- yearly account
- account of an agent
- account of charges
- account of disbursements
- account of expenses
- account of overheads
- account of a payee
- account of redraft
- accounts due to customers
- accounts payable
- accounts receivable
- account sales
- for account
- for account and risk
- on account
- adjust an account
- audit accounts
- balance the accounts
- block an account
- charge an account
- charge off an account
- charge to an account
- check an account
- close an account
- credit an account
- debit an account
- draw money from an account
- draw on an account
- draw up an account
- enter to an account
- establish an account
- examine accounts
- falsify an account
- freeze an account
- have an account with a bank
- keep an account
- keep an account with a bank
- maintain an account
- manage an account
- manage an investment account
- make out an account
- open an account
- operate an account
- overdraw an account
- pay an account
- pay into an account
- pay on account
- pay out of the account
- rectify an account
- release a blocked account
- render an account
- service an account
- settle an account
- set up an account
- square accounts
- transfer to an account
- verify an account
- write off an accountEnglish-russian dctionary of contemporary Economics > account
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108 requirement
n1) требование, необходимое условие2) потребность, спрос, нужда• -
109 trade
торговля имя существительное:торговцы (trade, commercial interests)лавка (shop, store, trade)глагол:обмениваться (swap, trade, change, interchange, swop, swoop)имя прилагательное:профсоюзный (trade, trade-union) -
110 hybrid
1. прил.1) общ. гибридный, комплексный, сложный, разнородный (сочетающий в себе два разных метода, инструмента и т. д.)See:hybrid annuity, hybrid bond fund, hybrid financial instrument, hybrid financing, hybrid fund, hybrid investment, hybrid loan, hybrid method of accounting, hybrid security2) эк. смешанный* (по О. Уильямсону: отношения между контрагентами, имеющие черты, присущие как рынку, так и иерархии; при таких отношениях сохраняется автономность контрагентов, но возникают отношения подчинения или гарантии, которые свойственны фирме; примером является долгосрочный контракт в случае наличия специфического актива или отношенческий контракт)See:market, hierarchy, network, transaction, hybrid
2. сущ.1) биол. гибрид, помесь2) эк. =hybrid organizationHybrids tend to develop in highly competitive markets in which pooling resources is viewed as a way to deal with significant uncertainties and to survive. — Смешанные формы организации часто появляются на высоко конкурентных рынках, где объединение ресурсов считается способом преодоления неопределенности и выживания.
The new English-Russian dictionary of financial markets > hybrid
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111 investment position
фин. инвестиционная позиция (совокупность инвестиционных активов и обязательств, принадлежащих инвестору в данный момент)Hedge is a transaction that reduces the risk on an existing investment position. — Хедж представляет собой операцию, которая уменьшает риск по существующей инвестиционной позиции.
Account Statement is a statement of investment activity and investment position that is periodically sent by brokerage firms to their customers. — Выписка по счету представляет собой отчет об инвестиционных операциях и инвестиционной позиции, который периодически высылается клиенту брокерской фирмой.
Short position is an investment position that benefits from a decline in market price. — Короткая позиция является инвестиционной позицией, которая выигрывает от падения рыночных цен.
See:The new English-Russian dictionary of financial markets > investment position
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112 currency
1. n употребительность, распространённость2. n денежное обращение3. n валюта, деньги4. n продолжительность, срок действия5. n австрал. арх. белый уроженец АвстралииСинонимический ряд:1. money (noun) cash; coin; dough; filthy lucre; legal tender; loot; lucre; money; needful; pelf; rhino; rocks; stuff; swag; wampum2. paper money (noun) bank note; bill; certificate; dollar; federal reserve note; greenback; paper money -
113 on call
1. онкольный2. по отзыву; условие поставки товараat call — наготове, к услугам, в распоряжении, под рукой
call to arms — призыв к оружию; призыв под знамёна
3. по требованиюcall slip — требование, листок требований
Синонимический ряд:available (adj.) accessible; alerted; available; handy; reachable; ready; within beeper range -
114 trade
1. n занятие, ремесло, профессия2. n редк. рабочий; ремесленник3. n отрасль торговли; отрасль производства; отрасль промышленности; промышленность4. n торговляillicit trade — незаконная торговля; торговля наркотиками
5. n рынок6. n деловая активность7. n собир. торговое сословие; купцы, купечествоtrade discount — торговая скидка, продажа по сниженным ценам
8. n собир. торговцы или предприниматели; представители определённой профессии9. n собир. разг. лица, имеющие право продажи спиртных напитков; пивовары, винокурыtrade creditor — лицо, предоставившее коммерческий кредит
10. n собир. издатели и книготорговцы11. n собир. мор. разг. подводный флот12. n собир. розничная торговля; магазин, лавкаto be in trade — быть торговцем, иметь магазин
13. n собир. розничные торговцыtrade combination — объединение торговцев; картель
14. n собир. клиентура, покупатели15. n собир. сделка; обменtrade date — дата заключения\исполнения сделки
16. n собир. полит. соглашение; сделкаbarter trade — товарообменная сделка; меновая торговля
17. n собир. диал. уст. или18. n собир. образ жизни19. n собир. линия поведения20. n собир. способ; обычай, привычкаили путешествия туда и обратно; отъезд и приезд; уход и приход
usage of trade — торговый обычай, узанс, узанция
21. n собир. уст. диал. или суматоха; тревоги, треволнения22. n диал. хлам; мусор; отбросы23. n диал. низы общества, дрянь, шваль24. a торговый25. a промышленный; экономический26. a профессиональныйtrade test — профессиональные испытания, проверка мастерства
27. v торговать28. v менять, обменивать29. v обмениваться30. v разг. быть постоянным покупателем; отовариватьсяbe in trade — быть торговцем; иметь магазин
31. v продаватьtrade fair rate — цены, по которым гостиница продает свои услуги на больших гостиничных ярмарках
32. v извлекать выгоду, использовать в личных целяхСинонимический ряд:1. change (noun) change; commutation; interchange; shift; substitution; switch; transposition2. craft (noun) craft; discipline; field; specialty3. exchange (noun) barter; dealing; exchange; purchase; sale; swap4. occupation (noun) art; avocation; calling; employment; handicraft; job; line; livelihood; metier; occupation; profession; pursuit; vocation; work5. patronage (noun) business; commerce; custom; enterprise; industry; patronage; sales; traffic6. bargain (verb) bargain; barter; change; commute; deal in; exchange; interchange; substitute; swap; switch; traffic; traffic in; truck7. patronise (verb) buy; patronise; patronize; purchase; sell; shop -
115 securitization
секьюретизация
перевод обязательств в ценные бумаги
Популярный метод решения проблем с потенциально неокупаемыми издержками электроэнергетических предприятий. Представляет собой перевод обязательств этих предприятий в ценные бумаги, то есть создание финансового залогового обязательства или облигации, обеспеченных стабильным потоком дохода, который гарантирует выплату основной суммы и процентов по этим бумагам. Этот механизм позволяет электроэнергетическим предприятиям получить авансом единовременные средства с продажи ценных бумаг. Требует создания отчуждаемого права собственности, позволяющего за счет потребителей коммунальных услуг покрыть убытки за их переход к другому поставщику («плата за переход к другому поставщику») или других видов обязательной платы, налагаемой на потребителей. Такая плата обычно, хотя и не всегда, основывается на доле неокупаемых (вынужденных) затрат электроэнергетического предприятия. При секъюретизации, электроэнергетическое предприятие обычно передаёт право собственности назначенному доверительному собственнику («независимому третьему лицу на случай возможного банкротства»). Доверительный собственник выпускает облигации и перечисляет электроэнергетическому предприятию выручку от продажи ценных бумаг на финансовом рынке за вычетом затрат по сделке. Далее держатели облигаций получают право взимать плату с потребителей электроэнергетических предприятий, для которых эта плата обязательна. Электроэнергетическое предприятие или распределительная компания собирает платежи с потребителей и перечисляет вырученные средства доверительному собственнику, который затем выплачивает их держателям облигаций. Выручка электроэнергетического предприятия в этом случае равна текущей стоимости полученных от потребителей платежей за вычетом отчислений держателям ценных бумаг («дисконтированной текущей стоимости потребительских платежей»).
[Англо-русский глосcарий энергетических терминов ERRA]EN
securitization
An often discussed means of dealing with potential electric utility "stranded costs" is securitization. Securitization refers to the creation of a financial security or bond that is backed by a revenue stream pledged to pay the principal and interest of that security. This device provides utilities an up-front, lump-sum payment from the sale of the security. Securitization requires the creation of a transferrable property right to collect from the utility's ratepayers a "customer transition charge" or through some other "non-bypassable" obligation placed on ratepayers. The charge is usually, but not always, based on some portion of the utility's "stranded" or uneconomic costs. If this option is exercised by the utility, the property right can be transferred by the utility to a designated trustee, a "bankruptcy remote special purpose entity." the trustee then issues a bond and pays the utility the cash proceeds from the sale of the security in the financial market less transaction costs. The securitized bondholders then have the right to collect the charge from the utility's customers that are obligated to pay it. The utility or distribution company collects the customer charge from the customers and transfers the funds to the trustee that then transfers it to the securitized bondholders. The cash proceeds the utility receives should equal the discounted present value of the customer charge revenue stream.
[Англо-русский глосcарий энергетических терминов ERRA]Тематики
Синонимы
EN
секьюритазация
Процесс, позволяющий заменить банковские заимствования и кредитования выпуском ценных бумаг типа еврооблигаций (eurobonds). Банк занимает деньги у сберегателей (инвесторов) и ссужает их заемщикам, взимая за обе операции плату, наряду с начислениями процентов. Наличие у заемщика возможности получить деньги непосредственно от инвесторов путем выпуска и размещения среди них облигаций (или акций) позволяет снизить издержки как заемщиков, так и кредиторов. Секьюритизация получила распространение в 1980-х гг. с развитием технологии и новых форм инвестирования.
[ http://www.vocable.ru/dictionary/533/symbol/97]Тематики
EN
секьюритизация
От слова security, ценная бумага: 1. Превращение финансового инструмента — долговой расписки, контракта, залога и т.п. в ценную бумагу, торгуемую на финансовом рынке. 2. В более широком смысле — процесс преобразования низколиквидных в ликвидные ценные бумаги, обращающиеся на рынке (напр., С. дебиторской задолженности). В этом сысле термин С. применяется наиболее часто.. Причем обычно имеется в виду объединение ценных бумаг в пулы, что позволяет снизить степень риска для их приобретателей.Массовой становится практика выпуска ценных бумаг под залог кредитов в периоды, когда кредиты порождаются усиленным притоком в экономику дешевых денег. 3. Использование денежных поступлений, предусмотренных условиями контракта, в качестве обеспечения при выпуске долговых обязательств.
[ http://slovar-lopatnikov.ru/]Тематики
EN
Англо-русский словарь нормативно-технической терминологии > securitization
См. также в других словарях:
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