去年，当贷方拒绝为支撑这些工具的短期票据再融资时，银行不得不把这些资产记入资产负债表，从而改变他们的资本比率。

When lenders last year refused to refinance the short-term paper that funded the vehicles, Banks had to take the assets onto their balance sheets, straining their capital ratios.

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贷方授予借方对这银行票据的专用权。得到贷方的授权后，这专用权可转让给第三方。

Lender grants Borrower an exclusive license to use the Bank Instrument. The license is transferable to other third parties only after authorization of the Lender.

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