证券市场，包括去年年底已基本停止运转的资产抵押证券市场已经开始恢复。
The securities markets, including the asset backed securities markets that essentially stopped functioning late last year, have started to come back.
目前国外比较成熟而且规范的证券是资产担保证券(abs)和资产抵押证券(MBS)。
Currently there two kinds of mature and normative securities in foreign countries: ABS and MBS.
对发行者来说，有资产抵押证券的成本要比筹集无担保债务低的多，同时它的发行不依赖于证券市场的复苏。
For issuers, the costs of funding are lower than raising unsecured debt, and issuance does not depend on the revival of the securitisation markets.
OWS的创始人是戴维•谢尔，前雷曼兄弟（Lehman Brothers）董事总经理兼证券化业务国际主管。他于2008年离开雷曼兄弟，创立OWS，专门交易资产抵押证券。
OWS was founded by David Sherr, a former Lehman managing director and global head of the firm's securitization business, who left in March 2008 to start OWS to trade asset-backed securities.
大部分失望情绪指向处理银行有毒资产的计划粗略，比如抵押证券和杠杆贷款。
Most disappointment was directed at the sketchy plan to tackle Banks' toxic assets, such as mortgage-backed securities and leveraged loans.
这种证券是优先债务形式的一种，发行者需要用自己的现金流来偿还，并且要有一定隔离的资产池作为保障，比如说抵押贷款，以免发生不能履行责任的情况。
The instrument is a form of senior debt that is paid back from the issuer's cash flows but is also secured against a ring-fenced pool of assets, such as mortgage loans, in the event of default.
国债的低收益也促使投资者在风险更大的资产上寻找更高的回报，比如抵押证券。
Low yields also encouraged investors to seek higher returns in riskier assets, such as mortgage-backed securities.
从2007年底开始，由于抵押贷款相关证券和其他复合资产在信贷危机期间下滑，许多这类基金都走下坡路。
Starting in late 2007, many of these funds hit the skids, thanks to mortgage-related securities and other complex holdings that dropped during the credit crunch.
野村证券最近的一份报告估计英国房屋价格可能再跌40- 55%，数以百万记的资产将低于他们的抵押价格。
A recent report by Numis Securities estimated that British house prices could fall by a further 40-55%, saddling millions with properties worth less than their mortgage debt.
其中一个担忧即就是一些国家的银行已经发行新的证券，其目的十分明确：为了得到中央银行的资金。而在这些国家，由于房价飙升，投资者们对于抵押支持资产心存担忧。
A worry is that Banks in countries where housing busts have made investors wary of mortgage-backed assets have created securities for the express purpose of gaining central-bank funding.
而瑞士银行即使宣布次贷相关及其他抵押证券近190亿美元的资产减损，其股价仍急速上升。
UBS's share price also climbed steeply, even though it announced another $19 billion in write-downs on subprime-related and other mortgage securities.
当前的经济压力已经致使类似商业住房抵押贷款证券这类金融资产大幅贬值。
Current economic pressures have led to wide-scale devaluations of assets such as commercial mortgage-backed securities.
担保债权凭证“是一种将有稳定收入流的固定资产组合，如住房抵押贷款打包而成的有价证券。”
"Collateralized Debt Obligations" are securities based upon a portfolio of fixed income-producing assets, such as home mortgages.
经济衰退期间，加拿大银行削减了其基准利率(至0.25%)，注入了额外的流动资产，买下了全部的抵押借款有价证券。
During the recession the Bank of Canada cut its benchmark interest rate (to 0.25%), injected extra liquidity and bought up mortgage-backed securities.
和华尔街的其他各大投行类似，雷曼最初的裁员计划锁定在其抵押贷款创设和资产证券化两个部门。
Like other Wall Street Banks, Lehman focused its initial job cuts on its mortgage origination and securitization businesses.
由于抵押贷款证券所有者和相关人士重新以甩卖价格估计资产，所以他们资本正在减少—这会导致更多的甩卖和更多的减记。
As holders of mortgage-backed securities and the like revalue their assets at fire-sale prices, they are running short of capital-which can lead to further sales and more write-downs.
CDO以次级抵押贷款债券、商业抵押贷款证券和其他资产作为担保。
These securities are collateralized debt obligations backed by subprime-mortgage bonds, commercial-mortgage loans and other assets.
大多数资产担保证券，都是通过抵押贷款、信用卡贷款和汽车贷款产生的收入获利的。
Most asset-backed securities are secured by income generated from mortgages, credit card loans and auto loans.
资产抵押债券和债券抵押证券是抵押贷款的衍生物。
MBS and CDO are called "derivatives" because they are derived from mortgage.
信用债券是指公司发行的债权股证、公债和其它有价证券，不管它们是否构成公司资产抵押。
Debentures includes debenture stock, bonds and any other securities of a company whether or not constituting a charge on the assets of the company.
最后这一部分已被证明是最为困难的，因为很难了解交易极为清淡的抵押贷款支持证券等资产该如何定价。
That last component has proved the most nettlesome because it is hard to know how to value assets, such as mortgage-backed securities, that rarely trade.
然而，现在是非常时期，他希望各机构在与贝尔斯登交易时不要提出不合理的资产抵押要求，或要求额外现金和证券为贷款提供担保，并要以诚信原则与贝尔斯登进行交易。
But these were not normal times. He expected firms not to make unreasonable collateral demands, or calls for extra cash or securities to back up loans, and to trade in good faith with Bear.
这个以资产证券为抵押进行贷款，或用银行本金作为交易资产的过程，助长了资产价格的进一步推高。
The process of lending money against the security of assets, or trading assets with the banks' capital, helped to push asset prices even higher.
随着诸如资产保证证券和债务抵押构成的交易信用产品的增长，信用风险部门则把它们当成市场风险，因为它们属于正当交易类型。
Take the growth of traded credit products, such as asset-backed securities and CDOs made up of them. Credit-risk departments thought of them as market risk, because they sat in the trading book.
随着诸如资产保证证券和债务抵押构成的交易信用产品的增长，信用风险部门则把它们当成市场风险，因为它们属于正当交易类型。
Take the growth of traded credit products, such as asset-backed securities and CDOs made up of them. Credit-risk departments thought of them as market risk, because they sat in the trading book.
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