这就是市政债券保险公司。
接着，市政债券保险公司，持有的次级贷款价值开始下跌。
Then, the value of the subprime loans that the municipal bond insurers own starts to go down.
过去保险几乎一半市场的债券保险公司在经历错误的抵押贷款赌注后已经削减或破产。
Bond insurers, who used to cover roughly half of the market, have retrenched or gone bust after making bad mortgage bets.
随着信贷市场的动荡不堪，在城市借贷时，债券保险公司急需保持他们所依赖的顶尖评级。
With the credit markets in turmoil, bond insurers are desperate to retain the top-notch ratings that cities depend on when they borrow.
其余的通常要3A级别的债券保险公司为他们的债券作担保，帮助购买者避免困难的严格评估。
The rest would often have their bonds guaranteed by AAA-rated bond-insurance companies, helping buyers sidestep painful due diligence.
11月1日，当最大的债券保险公司之一ambac宣布停付一期利息时，这个行业离灰飞烟灭又近了一点。
On November 1st the industry edged closer to extinction when one of the largest bond insurers, Ambac, announced that it would skip an interest payment.
你可能会说，美国房地产，是与市政债券保险公司完全不同，但是当房地产行业开始衰退，人们就开始对抵押贷款违约。
The housing sector in the United States, you might say, is completely different from municipal bond insurers; but when the housing sector starts going down, people start defaulting on their mortgages.
美国国际集团、房丽美、房地美、通用电气、市立债券担保人——美国债券保险公司、MBIA都曾经拥有3A的评级。
The American International Group, Fannie Mae, Freddie Mac, General Electric and the municipal bond guarantors Ambac Financial and MBIA all had triple-A ratings.
跟那些在经济危机扩散之时财务状况会变得岌岌可危的债券保险公司做对冲避险生意时，摩根大通都会做两次计算分析：第一次假设避险成功的情形，再一次则假设所购对冲工具变的一文不值的情形。
Hedging through bond insurers, whose finances grew shaky as the crisis spread, was calculated twice: once assuming the hedge would hold, and again assuming it was worthless.
有些投资者（如银行和保险公司）可能会因为监管或者足够现金流的原因倾向于拥有高评级（AAA）债券。
Some investors (such as banks andinsurance companies) may prefer to own the highest-rated (AAA)debt for regulatory or solvency reasons.
也就是对这类债券的拖债风险投保的人平均是盈利的（那些针对失火或者盗窃的传统保险公司却并非总做得这么好）。
In other words,someone who insured such bonds against default would have, on average, mademoney (conventional insurance companies, which insure against fire or theft,have not always done so well).
怡安保险公司表示，这批债券将分三个系列出售。
The insurance company said the notes will be offered in three series.
一个诱惑的建议是，大银行的债券持有者也应当承担一些风险，正如小银行破产并被联邦存款保险公司接管时那样。
It is tempting to suggest that the bondholders of big Banks should suffer too, just as they can suffer when small Banks fail and are taken over by the Federal Deposit Insurance Corporation.
国际金融协会(IIF)估计该计划将银行和保险公司持有的债券价值消减21%。
The IIF reckons the plan will cut the value of the bonds held by Banks and insurers by 21%.
这些债券在该地区的银行和保险公司手中。
如果联邦存款保险公司能像2008年一样保证金融公司的债券不贬值，在此实现之前，目前需要国会的支持。
Before the FDIC can guarantee financial firms' bonds, as it did in 2008, it now needs congressional approval.
但是，对美国各县市发行的市政债券提供单一险种的保险公司，已经被压得喘不过气来。
But "monoline" insurers, which insure municipal bonds issued by American cities and counties, are barely breathing.
对于小型保险公司而言，前景暗淡的降级和可能发生的破产预示着直到迪纳洛采取措施为止，他们的2.4万亿美元的债券将变得恶化。
The looming downgrades—and possible bankruptcies—of the “monoline” insurers of some $2.4 trillion of bonds boded worse until Mr Dinallo moved.
评级机构的这种行为对养老金和保险公司等机构投资者的影响最大，因为它们通常受到限制，只能购买高评级债券。
Such practices impact institutional buyers like pensions and insurers, which are often restricted to buying highly rated debt.
“巨灾债券(catastrophe bond)”是最早的奇异资产(exotic assets)之一。 巨灾债券为保险公司赔付地震或飓风损失时提供资金支持。
One of the earliest exotic assets was the catastrophe bond, the provision of back-up capital to insurance companies dealing with earthquakes or hurricanes.
直到Dinallo先生开始行动，为大约24亿美元债券担保的“单一证券”保险公司的越来越可怕的降级和破产，预示更糟。
The looming downgrades-and possible bankruptcies-of the “monoline” insurers of some $2.4 trillion of bonds boded worse until Mr Dinallo moved.
该传染病的一条传染渠道是小型债券保险商（monoline bond insurers），这些保险商是假设能够保全债务的专业保险公司。
One channel of contagion involves monoline bond insurers, the specialized insurance companies that are supposed to guarantee debt.
大量持有此类债券的银行、券商以及保险公司均受困于此番抛压，其整体股价跌幅超过了10%。
Banks, brokers and insurance companies, all big holders of these bonds, bore the brunt of the selling, falling more than 10% overall.
因此我们鼓励保险公司多对一些固定收益的产品进行配制，比如国债、金融债券。
So we encouraged security companies to match some products with fixed yields, such as T-debt, financial bonds.
保险公司说在8月可能会第一次出售债券自从2008年被援助之后。
The insurer said in August that it may sell bonds for the first time since it was rescued in 2008.
有人说，中国地保险公司还没展开这种保险营业。5、债券与股票都是证券，但两者有区别。
Someone says the insurance company of China haven't yet open this kind of insurance business of exhibition. 5, All of the bond and stocks are stock certificates, but both have differentiation.
运用巨灾债券转移、分散巨灾风险显然对我国保险公司、再保险公司及大型企业的风险管理具有明显的借鉴意义。
There are issuers, investors and SPV in the CAT bonds issuing market. National insurers and enterprises can also apply CAT bonds to managing catastrophe risk.
运用巨灾债券转移、分散巨灾风险显然对我国保险公司、再保险公司及大型企业的风险管理具有明显的借鉴意义。
There are issuers, investors and SPV in the CAT bonds issuing market. National insurers and enterprises can also apply CAT bonds to managing catastrophe risk.
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