贴现

This chapter is also the predominant part of this thesis.

其中，现金流贴现法是实务中人们最常采用的一种评估方法，也是本章研究的重点。

The fundamental principal is, the value of any asset is the summation of the present value of its expecting cash flows.

由于预期现金流的特性不同，贴现现金流模型在实践中存在多种形式。

But in the first place it was the Bank itself which had to ensure, by following an appropriate discount policy, that it would always be in a position to carry out with promptitude its voluntary undertaking to redeem its notes.

但是，首先，银行本身必须确保——通过遵从适宜的贴现政策——它总是能够执行其所承诺的义务，不加一点阻挠地立即赎回其的纸币。

It is true that there is systematic change in discounted price, but it is not a proportionate change.

贴现价格确会发生有系统的变更，但不是一种按比例的变更。

At the same time, lowered the central bank refinancing and rediscount interest rate and so on.

同时，降低了中央银行再贷款，再贴现利率等。

At the same time, the central bank reduced refinancing and rediscount rate, and so on.

同时，央行降低再融资和再贴现利率，等等。

At the same time, the central bank reduced refinancing and rediscount rate.

同时，央行降低再融资和再贴现利率。

The monetary policy instruments of our country mainly includes reservation fund system.open market operation, rediscount, interest rate ,etc.

我国的货币政策工具主要包括存款准备金制度、公开市场业务、再贴现、利率等。

The central bank s raising of rediscount rate in 2001 caused a sharp shrink of rediscount business, which had a profound impact on the paper market in terms of its operational mode, market scope and development.

2001年中央银行调高再贴现率后再贴现急剧萎缩，对票据业务的运作方式、市场规模乃至发展格局部产生了较大的影响。

With the central bank announced yesterday afternoon, 108 basis points rate cut, while lowered the financial institutions to deposit reserve rate, the central bank refinancing and rediscount rate, and so on, the intensity of its rate cut, means as much to spend, it was rare in recent years.

随着央行宣布昨天下午，108个基点降息，而且降低了金融机构存款准备金率，中央银行再贷款，再贴现利率等，其降息的力度，手段多钱，它是近几年少有的。

By the time of its fall, most of the prisoners were writers who had written against the corruptions of the government.

到它被攻陷的时候，里面多数的犯人是写了反对政府贪污文章的作家。

The most obvious variation to ovum morphological character was that the color was changed from light green to sepiaceous in embryonic development, and all the ovums were almost hatched after 96h.

在胚胎发育过程中卵的形态特征最明显的变化是颜色从淡绿到深褐色，卵在发育96h后卵基本全部孵化。