固定利率债券支付预决息票，浮动利率债券根据银行存款利率贴水支付息票。

Fixed rate bonds pay a pre-determined coupon and FRNs pay coupons at a premium above the bank's fixed deposit rate.

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因为银行存款利率很低，每年2.5%，低于通货膨胀率，银行可以豪不困难的找到寻找高额回报的投资者。

With Banks' deposit rates so low-at 2.5% for one year, the rate is below the level of inflation-banks had no trouble finding investors seeking a higher return.

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That's Depository Institution's Deregulation and Monetary Control Act; what that did was, it eliminated ceilings on interest rates --on deposits, it allowed banks to pay high interest rates.

存款机构放松管制和货币控制法案,所做的就是,取消了存款利率的上限,准许银行支付高额利率

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