SIV因为次级抵押贷款证券风险而处境艰难。

SIVs have been struggling because of exposure to risky subprime-mortgage debt.

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次级抵押贷款证券就是暴露了这一问题。

Subprime-mortgage-backed securities are a case in point.

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次级债是一种后偿债券，一旦企业破产，这种债券的索偿权排在其他证券之后。

Subordinated bonds are paid after other debt should a company fall into bankruptcy.

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次级债是一种后偿债券，一旦企业破产，这种债券的索偿权排在其他证券之后。

Subordinated bonds are paid after other debt should a company fall into bankruptcy.

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