第三条市场参与者均可进行债券借贷。
Article 3 All market participants may conduct bond lending business.
我们应该怎样对冲定期债券借贷安排带来的储备金影响？
债券借贷将本来暂时不流动的债券出借给需要债券的投资者。
Securities lending allows temporarily illiquid securities to be loaned to investors.
目前，债券借贷主要在全国银行间债券市场参与者之间直接进行。
In China, securities lending is currently limited to transactions conducted directly between participants in the inter-bank bond market.
第四条债券借贷的标的债券应为融出方自有的、可以在全国银行间债券市场交易流通的债券。
Article 4 the object bonds in bond lending shall be self-owned bonds by the bond provider and may be traded and circulated in national inter-bank bond market.
但是爱尔兰的确还有一些喘息的空间：由于它有足够的现金来满足当前的需要，因此在明年早些时候之前，它无需从债券市场借贷。
But Ireland does have some breathing space: it doesn't need to borrow from the bond markets until early next year as it has enough cash to cover immediate needs.
而是通过一个房贷信用中介从债券市场中借贷。
They borrow from the bond market, through a mortgage credit intermediary.
结果将金融的动荡性从货币市场转到了债券市场，没有竞争力的国家面临更高的借贷成本，而不是固定汇率的压力。
The eventual effect was to move financial volatility from the currency to the bond markets, with uncompetitive countries facing higher borrowing costs rather than pressure on their exchange-rate pegs.
如果希腊不履行责任，那么这些债券将会被作为银行借贷资本的抵押品来偿还银行。
If Greece defaults, these bonds would be used as collateral to repay Banks the principal they loaned.
资产价格上升，从而促进消费；企业债券价差额减少，公司的借贷成本得以降低。
Higher asset prices have propped up consumer spending and narrower corporate bond spreads have eased firms' borrowing costs.
而对美国债券的巨大需求反过来又让借贷成本达到了异常低的水平，推动了美国房地产和信贷市场的繁荣。
That huge demand for U.S. debt, in turn, helped to fuel the U.S. 's housing and credit booms by keeping the cost of borrowing at unusually low levels.
这足够让爱尔兰在借贷需求和支付债券收益上撑到明年。
That is enough to cover Ireland’s borrowing needs and bond redemptions well into next year.
现在快速的债务重组，也许能让那些对英国借贷忧心忡忡的债券警卫们保持冷静，而且能通过长期保持低利率在一定程度上予以补偿。
A quick workout now would calm bond vigilantes who fret about Britain's borrowing, and could to some extent be offset by keeping interest rates lower for longer.
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.
公共财政剧烈恶化，使得债券市场颇为不安，爱尔兰借贷也愈发艰难。
The rapid deterioration in the public finances has unnerved bond markets and raised Ireland’s borrowing costs.
这种债券由欧盟作为整体提供担保，可以为问题的国家提供一条防止陷入信心下降、借贷成本上升恶性循环的一条途径。
Since these bonds would be guaranteed by the European Union as a whole, they would offer a way for troubled economies to avoid vicious circles of falling confidence and rising borrowing costs.
比起借贷成本的增加，更多的担忧集中在欧洲央行不接受希腊债券作为附属担保品的可能性上。
More worrying for Greece even than the rising cost of borrowing is that it may soon find its bonds are not accepted as collateral by the European Central Bank (ECB).
因此，联合债券发行能够提升欧元作为储备货币的地位，也能降低所有参与国家的借贷成本。
A joint bond issue could thus enhance the euro's standing as a reserve currency, as well as lowering borrowing costs for all countries that took part in it.
这些额外的需求压制着债券利率，并给企业和消费者借贷成本设了一个较低的标准。
The extra demand weighs on bond yields and sets a lower threshold for the cost of credit for businesses and consumers.
如果它的借贷成本在一段时期内上涨，那么它的债务将开始变得无力偿还，这会导致进一步的抛售现象以及债券收益率进一步上升。
If its borrowing costs were to climb for a sustained period its debt would begin to look unaffordable, prompting further selling and further increases in bond yields.
意大利的银行系统90%的借贷由零散存款提供，与债券市场的混乱相对绝缘。
Its banking system is also relatively insulated from turmoil in bond markets, with more than 90% of loans funded by retail deposits.
但是当意想不到的新借贷出现时，比如进行新一轮的银行疏困，那么债券投资者也许还是会受到惊吓。
Bond investors might still take fright if there is an unexpected rush of new borrowing-for a fresh bank bail-out, say.
老观点相当机械的认为：提高利率水平，借贷和支出将通过银行和债券市场得到削减，反之亦然。
The old view of it was rather mechanical: pull the interest-rate lever up and, via Banks and bond markets, lending and spending would fall; pull it down and they would rise.
近来，随着债券边际收益率的提高，几家华尔街银行对潜在的借贷成本临界点发出警告。
As bond yields edged higher recently, several Wall Street Banks issued warnings about potentially crippling debt-service costs.
信贷衍生品研究（Credit Derivatives Research）机构的蒂姆·柏克萧（TimBackshall）认为，禁令将反过来增加债券发行商的借贷成本。
That could, in turn, raise borrowing costs for bond issuers, says Tim Backshall of Credit Derivatives Research.
信贷衍生品研究（Credit Derivatives Research）机构的蒂姆·柏克萧（TimBackshall）认为，禁令将反过来增加债券发行商的借贷成本。
That could, in turn, raise borrowing costs for bond issuers, says Tim Backshall of Credit Derivatives Research.
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