There are two main benefits to the U. S. as issuer of the main reserve currency.

美元作为储备货币对美国主要有两点好处。

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So if there is a default, the issuer of the credit default swap pays you, and so you gain just as the short seller gains when the price of the stock or bond that he's shorted falls.

从而一旦出现债务违约，信贷违约掉期的发行人将赔偿你，于是你就可以从中获利，正如空头在他看空的股票或债券价格下跌时获利一样。

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This leaves them conflicted, say critics, as they have an incentive to give the issuer-client the rating it wants so as to win repeat business.

批评家指出：这让它们陷于矛盾，因为它们有给证券发行客户其所需等级以便赢得回头客的动机。

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This represents one feature of such currencies, each can be designed as the issuer thinks would best serve the targeted market.

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As an issuer's prospects dimmed, its share price would fall.

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American Express says it is uniquely positioned to offer the service thanks to its "closed-loop" business model in which it acts as card issuer, merchant acquirer and payment processing operator.

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