The magnitude of the expansion of the money supply is reduced by the portion of securities proceeds and bank loans that are held in cash.

因为部分证券收益和银行(已经贷出的)贷款是以现金形式持有的，所以降低了货币多倍扩张乘数。

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Even more damning is their conclusion that assets that generated greater proceeds for the ratings agency were rated more leniently than less lucrative securities.

更为致命的结论是：为评级机构带来更多收益的资产所获评级比那些无利可图的证券更为有利。

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In a filing with securities regulators Monday, Microsoft said it plans to use the proceeds for 'general corporate purposes' including repurchases of stock and acquisitions.

在周一向证券监管部门递交的文件中，微软表示其计划将筹资所得用于“一般公司用途”，包括回购股票和收购交易。

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Note that brokerage commissions are reflected in the cost basis of the purchased securities or as a reduction of the proceeds from the sale of securities and not as an expense of the fund.

FORBES: New SEC Action: More Brokerage Disclosure to Confuse Mutual Fund Investors (April 1, 1996)

Your fund should lend out your securities, but the proceeds should go to you.

WSJ: Is Your Fund Pawning Shares Off You?

This tax, which has been proposed by the International Monetary Fund staff, is levied only on net proceeds of securities transactions.

FORBES: Could Taxes Have Prevented Rampage Of The London Whale?