bond anticipation notes (BANs)

简明释义

债券先期本票,债券应付票据

英英释义

例句

1.The city issued bond anticipation notes (BANs) to finance the construction of a new library.

该市发行了债券预期票据 (BANs)以资助新图书馆的建设。

2.Investors were attracted to the bond anticipation notes (BANs) due to their short-term maturity and relatively low risk.

由于短期到期和相对低风险，投资者被债券预期票据 (BANs)所吸引。

3.During the budget meeting, the finance director explained how bond anticipation notes (BANs) could help manage cash flow.

在预算会议上，财务主管解释了债券预期票据 (BANs)如何帮助管理现金流。

4.The municipality's decision to sell bond anticipation notes (BANs) was met with approval from local taxpayers.

市政府决定出售债券预期票据 (BANs)得到了当地纳税人的赞同。

5.The school district plans to issue bond anticipation notes (BANs) to cover immediate expenses until the long-term bonds are sold.

学区计划发行债券预期票据 (BANs)以覆盖立即支出，直到长期债券出售。

作文

In the world of finance and public funding, various instruments are utilized to manage cash flow and meet immediate financial needs. One such instrument is the bond anticipation notes (BANs), which serve as a temporary financing solution for municipalities and other governmental entities. Understanding bond anticipation notes (BANs) is crucial for investors, policymakers, and anyone interested in municipal finance. Bond anticipation notes (BANs) are short-term debt securities issued by municipalities in anticipation of future bond proceeds. Essentially, these notes allow local governments to raise funds quickly, which can be used for various projects or operational costs while waiting for longer-term financing to be arranged through the issuance of bonds. This mechanism is particularly beneficial for municipalities that require immediate funding for essential services or infrastructure improvements. The primary advantage of bond anticipation notes (BANs) is their ability to provide quick access to capital. For example, if a city plans to undertake a significant construction project, it may not have the necessary funds available immediately. By issuing bond anticipation notes (BANs), the city can secure the required financing to start the project without delay. Once the city issues long-term bonds, it can use the proceeds to pay off the bond anticipation notes (BANs), thus converting short-term debt into long-term debt. Investors are often attracted to bond anticipation notes (BANs) because they typically offer higher yields compared to other short-term investments, such as Treasury bills or commercial paper. However, investing in bond anticipation notes (BANs)) also comes with risks. If the municipality faces financial difficulties or fails to issue the anticipated long-term bonds, investors may not receive their principal back upon maturity. Therefore, it is essential for investors to conduct thorough due diligence before investing in these notes. Another important aspect of bond anticipation notes (BANs) is that they are often backed by the anticipated revenue from future bond sales. This backing provides a level of security for investors, as it indicates that there is a planned source of repayment. Furthermore, bond anticipation notes (BANs) can be issued in various forms, including general obligation notes, which are secured by the full faith and credit of the issuing municipality, or revenue anticipation notes, which are backed by specific revenue streams. In conclusion, bond anticipation notes (BANs) play a crucial role in the financial landscape of municipalities. They provide a valuable tool for local governments to manage cash flow and finance urgent projects while awaiting the issuance of long-term bonds. For investors, understanding the dynamics of bond anticipation notes (BANs) is essential, as it allows them to make informed decisions regarding their investment portfolios. As with any financial instrument, careful analysis and consideration of potential risks and rewards are necessary to navigate the complexities of municipal finance effectively. In summary, bond anticipation notes (BANs) are short-term debt instruments that enable municipalities to secure immediate funding in anticipation of future bond sales. They offer both opportunities and risks for investors, making it vital to understand their mechanics and implications within the broader context of public finance.

在金融和公共融资的世界中，各种工具被用来管理现金流和满足即时财务需求。其中一种工具是债券预期票据（BANs），它作为市政和其他政府实体的临时融资解决方案。理解债券预期票据（BANs）对投资者、政策制定者以及任何对市政融资感兴趣的人来说都是至关重要的。 债券预期票据（BANs）是由市政当局发行的短期债务证券，目的是为了预期未来的债券收入。实质上，这些票据使地方政府能够迅速筹集资金，这些资金可以用于各种项目或运营成本，同时等待通过发行债券安排长期融资。这一机制对于需要立即资金以进行基本服务或基础设施改进的市政当局尤其有利。 债券预期票据（BANs）的主要优势在于能够快速获得资本。例如，如果一个城市计划进行重大建设项目，它可能没有立即可用的必要资金。通过发行债券预期票据（BANs），该城市可以确保所需的融资，以便不延误地启动项目。一旦该城市发行长期债券，就可以利用收益偿还债券预期票据（BANs），从而将短期债务转换为长期债务。 投资者通常会被债券预期票据（BANs）吸引，因为它们通常提供比其他短期投资（如国库券或商业票据）更高的收益。然而，投资债券预期票据（BANs）也伴随着风险。如果市政当局面临财务困难或未能发行预期的长期债券，投资者可能无法在到期时收回本金。因此，投资者在投资这些票据之前进行彻底的尽职调查是至关重要的。 债券预期票据（BANs）的另一个重要方面是，它们通常以预期的未来债券销售的收入作为担保。这种担保为投资者提供了一定程度的安全性，因为这表明有计划的偿还来源。此外，债券预期票据（BANs）可以以多种形式发行，包括一般义务票据，这些票据由发行市政当局的全部信任和信用担保，或者收入预期票据，这些票据则由特定的收入流担保。 总之，债券预期票据（BANs）在市政金融的格局中发挥着至关重要的作用。它们为地方政府管理现金流和为急需项目融资提供了一种宝贵的工具，同时等待发行长期债券。对于投资者而言，理解债券预期票据（BANs）的动态至关重要，因为这使他们能够就投资组合做出明智的决定。与任何金融工具一样，在有效应对市政金融的复杂性时，仔细分析和考虑潜在风险和回报是必要的。 总之，债券预期票据（BANs）是短期债务工具，使市政当局能够在预期未来债券销售时获得即时融资。它们为投资者提供了机遇和风险，因此理解其机制及其在公共融资更广泛背景下的影响至关重要。