一级资本比率包括包括普通股和优选股，现金储备，以及其他长期混合型证券。
Tier 1 capital includes common and preferred stock, cash reserves and certain other long-term "hybrid" securities.
这些债券都是混合型证券：行情好时是债券，但是当银行的普通权益相对于银行资产负债表过小时，可以转化为权益。
These bonds are hybrids 25: debt in good times but convertible into equity 26 when common equity becomes too small relative to banks' balance sheets.
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