德意志银行的Richard Parkus认为如果商业地产借款人不能大幅增加偿还资金，在美国发行的所有商业抵押担保证券的70%将无法用于再融资。

Richard Parkus, of Deutsche Bank, thinks that 70% of all CMBS issued recently in America will not be able to refinance without a big increase in the capital that borrowers stump up.

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住房抵押贷款担保证券依据不同投资者的风险承受程度向许多投资者发行。

These were sold to a wide range of investors, depending on their tolerance for risk.

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然而，花旗今年以来已经发行了150亿美元无担保证券，最近一次在九月份，它坚信有能力轻而易举的赚回偿债资金。

The bank has, however, been able to issue $15 billion of non-guaranteed paper this year, most recently in September, and insists it will be able to meet its funding needs comfortably.

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