The bank that sells a mortgage-backed Pfandbrief to investors retains all the risk of default, giving it the incentive to underwrite cautiously.
向投资者销售基于抵押物的潘德·布雷夫债券的银行承担所有违约风险，这样促使银行谨慎地承销售债券。
The bank that sells a mortgage-backed Pfandbrief to investors retains all the risk of default, giving it the incentive to underwrite cautiously.
向投资者销售基于抵押物的潘德·布雷夫债券的银行承担所有违约风险，这样促使银行谨慎地承销售债券。
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