20160311 American banks-Not yet out of the woods

[地道表达]##

• FOR a spell last year American banks seemed poised to reattain the sort of double-digit returns that have largely eluded them since the financial crisis
  [elude]
  [解释]To evade or escape from, as by daring, cleverness, or skill; 躲避：如以胆量、机智或技巧而从…躲避或逃跑

• The rash of swingeing fines that had been disfiguring profits had largely dissipated
  [swinge]
  [解释] (British English) very severe reductions in spending, especially by a government or organization
  [dissipate]
  [解释] [intransitive and transitive] to gradually become less or weaker before disappearing completely, or to make something do this

• The volatility in markets, meanwhile, is causing takeovers and issuance of shares and debt to atrophy
  [volatility]
  [解释] 多变；a volatile situation is likely to change suddenly and without warning
  [atrophy]
  [解释]A wasting away, deterioration, or diminution；衰退：废弃，退化或减少

• For investors, however, that is scant consolation.
  [scant]
  [解释] barely sufficient; 贫乏的：不足的

[句式连接]##

• In part, the poor performance of bank shares stems from the broader gloom in global markets. But investors have also noticed that the growth in banks’ profits comes more from falling costs than from rising revenue.
  [分析] 分析原因的段落写法可以学习：一部分原因是...更多是因为...
  [翻译] 银行股价下跌的部分原因与全球市场整体不景气有关。但是投资者也发现银行利润之所以增长，更多地是依靠股价下跌而非收入增加。

[专业知识]

• margin lending###

[解释] A program though lending institutions that allows an individual to borrow money for the purposes of investing it. The amount of credit loaned is based upon the amount of assets held by the borrower, which are pledged as collateral on the loan. This program is often used by individuals who want to invest more than they currently are investing, and are willing to take on the risk of this type of loan.

• public offering

[解释]
政府、金融机构、工商企业等在发行证券时，可以选择不同的投资者作为发行对象，由此，可以将证券发行分为公募和私募两种形式。
公募又称公开发行，是指发行人通过中介机构向不特定的社会公众广泛地发售证券，通过公开营销等方式向没有特定限制的对象募集资金的业务模式。为适应更广大投资者的需求，公募没有合同份数和起点金额的限制。因为涉及众多中小投资人的利益，监管当局对公募资金的使用方向、信息披露内容、风险防范要求都非常高。而私募是面向少量的、特定的投资者募集资金的方式。参加人一般应具有一定的经济实力、风险识别和风险承担能力。
在公募发行情况下，所有合法的社会投资者都可以参加认购。为了保障广大投资者的利益，各国对公募发行都有严格的要求，如发行人要有较高的信用，并符合证券主管部门规定的各项发行条件，经批准后方可发行。
公募的载体包括股票、债券、基金等多种形式。
来源：http://wiki.mbalib.com/wiki/

• private placement###

[解释]
政府、金融机构、工商企业等在发行证券时，可以选择不同的投资者作为发行对象，由此，可以将证券发行分为公募和私募两种形式。

私募(Private Placement)是相对于公募(Public offering)而言，私募是指向小规模数量Accredited Investor（通常35个以下）出售股票，此方式可以免除如在美国证券交易委员会（SEC）的注册程序。投资者要签署一份投资书声明，购买目的是投资而不是为了再次出售。
来源：http://wiki.mbalib.com/wiki/