Before securitisation, the effect of a crash was intensely concentrated.
在证券化出现之前，金融风暴的影响往往十分的集中。
That was a perversion of securitisation, rather than an indictment of it.
这是证券化的一种失常，无法构成对其本身的一种控诉。
Some of the worst abuses in securitisation stemmed from the use of credit ratings.
证券化一些最严重的错弊起源于信贷评级的使用。
Without securitisation, the world cannot sustain such extreme imbalances indefinitely.
如果没有证券化，全球就无法无限期的维持这种极端失衡状况。
The crisis also emerged as a crisis of securitisation.
这场危机还表现为证券化危机。
Property rights securitisation and substantial option are two useful tools.
产权证券化和实物期权是两个很有用的金融工具。
So far most of the credit collapse in America has come from the demise of securitisation.
目前为止，美国大部分的信贷崩溃都源自于资产证券化的失败。
Ranieri did warn in 2006 of the risks from the breakneck growth of mortgage securitisation.
在2006年时，LewisRanieri也警告过房屋贷款证券化惊人增长所带来的风险。
In the boom it was easy to fill the gap by tapping American money-market funds or securitisation markets.
在经济繁荣期很容易利用美国的货币市场基金或者证券市场来弥补这一缺口。
And the theory that risk had been dispersed because of securitisation added to the false sense of security.
证券化能分散风险的理论使人们产生了错误的安全感。
Many European Banks used securitisation to fund the expansion of their loan books in the boom (see chart 7).
许多欧洲银行在繁荣期通过证券化实现了贷款的迅速扩张(见表7)。
And because local Banks still account for almost all domestic lending, there is no securitisation of bank loans.
所有这些都是因为地方银行仍然是国内贷款的主力，而现在银行的贷款并没有证券化。
How will the securitisation market cope with a raft of new regulation and what will this mean for the industry?
证券市场如何适应新的监管规则？这些新规则对整个产业具有什么样的意义？
The construction of the assets pool is quite important in the course of intellectual property right securitisation.
在知识产权证券化的过程中资产池的构建是相当重要的。
Eventually, he says, he would like to sell most of UniCredit's loans, once European securitisation markets are harmonised.
最终他提到，一旦欧洲证券化市场统一，他愿意售出大部分的联合信贷贷款。
Indeed, the acceleration of credit during the securitisation era was not matched by an acceleration in economic output.
其实，证券化时代信贷加速比不上经济产出的加速。
Some discussion of the role of securitisation and systemic risk is essential, even if it feels like a lot of detail for beginners to grasp.
证券化的作用和系统风险的内容有必要经过讨论，即使这些知识超过初学者需要掌握的范围。
The art of securitisation, as it is called, adds liquidity to the market and allows risks to be parcelled out to those most eager to bear them.
顾名思义，证券化这一策略增加了市场的流动性，使得风险被分割出来后由最愿意的人承担。
Computers enabled lenders to use standardised credit scores, and the risk-spreading from securitisation made it safer to lend to less creditworthy borrowers.
计算机技术使债权人可以使用标准化的信用评分方法；来自证券化的风险分摊，也使得向资信较差的借款人授信变得更安全。
This may not seem very different from the "originate-to-distribute" securitisation models that flourished in America and parts of Europe in recent years.
这看起来与近几年在美国和部分欧洲国家风行的“贷款并证券化”模式并没有太大区别。
It is still well ahead of Europe in hedge-fund and mutual-fund assets, securitisation, syndicated loans, and turnover in equities and exchange-traded derivatives.
美国在对冲基金与共同基金资产、证券化产品、辛迪加贷款、股票和交易所交易衍生产品的交易额方面仍遥遥领先于欧洲。
There were many reasons for the housing bubble that has now burst, from huge amounts of global liquidity seeking high returns to the rise of private-label securitisation.
在目前已经破灭的房地产泡沫背后，有着从追求高回报的海量全球流动性，到私人资产证券化的兴起等许多原因。
Northern Rock's securitisation vehicle issued relatively long-term notes to investors, so it did not face the threat of massive redemptions from this particular quarter.
诺森洛克通过证券工具向投资者发行较长期票据，从而在这个特殊的季度，银行并没有面对大规模兑现的威胁。
Financial commentators should not denounce securitisation without acknowledging the point that is obvious to management commentators: bureaucratic risk controls are also flawed.
金融评论人士不应只谴责证券化，而不承认管理评论人士眼中显而易见的事实：官僚风险控制也存在缺陷。
The conventional methods of managing credit risk, such as diversification, bank loan sales, and asset securitisation, offer only a partial solution to controlling credit risk exposure.
传统的信用风险管理办法，例如分散化，银行贷款出售和资产证券化，只提供了控制信用风险暴露的部分办法。
The conventional methods of managing credit risk, such as diversification, bank loan sales, and asset securitisation, offer only a partial solution to controlling credit risk exposure.
传统的信用风险管理办法，例如分散化，银行贷款出售和资产证券化，只提供了控制信用风险暴露的部分办法。
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