This thesis is divided into four chapters:The first chapter is the accounting recognition of the securitized asset.

全文共分四章：第一章是证券化资产的会计确认。

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The asset class at the heart of this phase of the financial crisis-sovereign debt-is far easier to value than the securitized subprime mortgages that caused the trouble last time.

当前金融危机核心的资产类别——主权债务——比导致上次危机的证券化次级贷款要容易估价得多。

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That expands the list of eligible collateral which banks can post from securitized debt (those asset-backed bonds accepted since Dec. 2007 on top of government gilts), just so long as the loans are residential or commercial real-estate mortgages, consumer loans (but not including credit cards), or corporate loans to non-bank borrowers.

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