无追索权的营运资本贷款。
无追索权贷款，不存在任何有形资产，直到操作带入生产。
In non-recourse lending, no tangible assets exist until the operation is brought into production.
大宗的无追索权营运贷款并非你的个人债务，银行会拿你公司的现金流作抵押。
The big deal about non-recourse loans is that you are not personally liable. The bank uses your company's cash flow as collateral.
美国的特殊还在于提供了“无追索权”房贷，可以让借贷人无负债的轻易走开。
America is also unusual in having non-recourse mortgages that let borrowers walk away with no liability.
在欧洲，低价、无追索权贷款将会鼓励投资者购买意大利或西班牙债券，而且减少收益。
In a European version, cheap, non-recourse loans would encourage investors to buy Italian or Spanish bonds and bring down yields.
对于这项工作非常重要的是失业能够在多大程度上在无追索权的条件下在模型内显示出市场缺陷的假设。
Important to the work is the extent to which unemployment can emerge without recourse, within models, to assumptions about market imperfections.
包买票据是商业银行对出口商持有，并经银行担保的债权凭证无追索权购买的金融服务活动。
Package buying instruments are financial services activities held by commercial banks to exporters, and guar-anteed by banks of debt certificate of non-recourse buying.
这是不对的。为什么？原因就在于无追索权的贷款。据报道，贷款金额将占到资产购买额的85%。
That's just wrong. Why? Because of the non-recourse loans, which reportedly will finance 85 percent of the asset purchases.
一些北美官员不动声色地兜售另一种解决方案，那就是通过向投资者提供无追索权贷款，促使其购买债券。
An alternative, quietly touted by some North American officials, is to tempt investors into buying bonds by giving them access to non-recourse loans from the ECB.
美国的贷款购房者也更有可能逃避债务，因为许多抵押资产都“无追索权”，就是说放贷者不能追踪借贷者的其它资产。
American homeowners are also much more likely to walk away from their debts because many mortgages are "non-recourse", meaning that lenders cannot come after borrowers' other assets.
还有种方式，一些北美洲的官员私底下大肆吹捧，就是通过让投资者得到欧洲中央银行的无追索权贷款来引诱他们购买债券。
An alternative, quietly touted by some North American officials, is to tempt investors into buying bonds by giving them access to non-recourse loans from the ECB.
然而在近期，爱尔兰一些按揭贷款提供者推出了“无追索权”贷款，让它们有权在出现违约的情况下收回房产，但无权追索借款人个人的偿债责任。
But recently, some Irish mortgage providers were offering "non-recourse" loans, which give them the right to repossess property in the event of default but not to pursue borrowers personally.
然而在近期，爱尔兰一些按揭贷款提供者推出了“无追索权”贷款，让它们有权在出现违约的情况下收回房产，但无权追索借款人个人的偿债责任。
But recently, some Irish mortgage providers were offering "non-recourse" loans, which give them the right to repossess property in the event of default but not to pursue borrowers personally.
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