通过一级交易商信贷便利发放的贷款，都有抵押品担保，并且进行了贴现，这样一来，万一发生违约，而美联储不得不卖出抵押品时，美联储可以避免承担损失风险。

Loans made under the PDCF were secured by collateral and discounted to protect the Fed from risk of loss should it have had to sell collateral in the event of a default.

youdao

通过一级交易商信贷便利发放的贷款，都有抵押品担保，并且进行了贴现，这样一来，万一发生违约，而美联储不得不卖出抵押品时，美联储可以避免承担损失风险。

Loans made under the PDCF were secured by collateral and discounted to protect the Fed from risk of loss should it have had to sell collateral in the event of a default.

youdao