What the PDCF is it's really an extension of the discount window beyond member banks.

一级交易商信贷工具是,对会员银行贴现窗口的一种扩展。

耶鲁公开课 - 金融市场课程节选

So what everybody knows is that the discount is converted into a price according to this formula.

所以每个人都知道,折扣率可以通过这个公式转换成价格

耶鲁公开课 - 金融市场课程节选

What's essential about the Primary Dealer Credit Facility is that they're opening up the discount window of lending beyond the member bank to primary dealers.

一级交易商信贷工具中,最本质的东西是,他们将会员银行的贴现窗口,向一级交易商打开了。

耶鲁公开课 - 金融市场课程节选

What they wanted to do starting in 2003 was to eliminate the idea that the discount rate is only for banks who are in trouble.

在2003年他们开始想做的事3,是消除,贴现率仅仅是为了那些处于困境的银行而设立的。

耶鲁公开课 - 金融市场课程节选