由于其它债市失灵（例如资产支持的商业票据），公司就从银行兑现这些承诺。
With the collapse in other debtmarkets (such as asset-backed commercial paper), corporate borrowers cashed in those chips.
投资者从资产支持的商业票据市场抽走数以千亿的美元。资产支持的商业票据市场很少有人知道，但却非常重要，因为它接管了许多原来由银行处理的工作。
Investors pulled hundreds of billions of dollars out of asset-backed commercial paper, a little-known but important market that has taken over a lot of the work Banks used to do.
为了支持货币市场基金，商业票据和有资产担保的证券需要满足某些严苛条件，例如其他人不得参与。
Recreating its backstops for money-market funds, commercial paper and asset-backed securities might require such stringent conditions that no one would participate.
正是由于他们从短期债券市场的突然撤出才导致了资产支持商业票据的失灵。
It was their sudden withdrawal that caused the market in asset backed commercial paper (ABCP) to seize up.
资产支持商业票据市场也一样，这个市场仅存去年八月份规模的三分之一。
The same goes for the ABCP market, which remains one-third below its size last August.
资产支持商业票据市场也一样，这个市场仅存去年八月份规模的三分之一。
The same goes for the ABCP market, which remains one-third below its size last August.
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