The "shadow banking system" is another PIMCO coinage.
“影子银行系统”是PIMCO的又一创造。
Banks may be lending but the larger shadow banking system is not.
银行也许会继续放贷但影响力更大的影子银行系统就不会了。
And bring hedge funds and shadow banking inside the regulatory net.
将对冲基金和影子银行业纳入监管之下。
It also provided cheap funding for the world's "shadow banking system".
这也为世界上的“影子银行体系”提供了廉价资金。
The “shadow banking system”, which relied on bank finance, started to default.
于是依赖银行资金的“影子银行系统”,开始拖欠债务了。
The shadow banking system poses a thorny problem too.
影子银行同样让人头疼。
That is precisely what the "shadow banking system" did.
这正是「影子银行业体系」过去的做法。
Lesser known is shadow banking, derivative and counter-party exposure.
鲜为人知的是影子银行、衍生工具以及交易对手风险。
Effectively, the "shadow banking system" has been siphoning off credit from the state-owned Banks.
“影子银行系统”有效地拿走了国有银行的一些信贷业务。
Meanwhile, the shadow banking system was as important for credit creation as Banks in recent years.
与此同时,近年来影子银行体系对建立信贷的重要程度不亚于银行。
The shadow banking system was as important to the economy as the ordinary kind, but was far more vulnerable.
影子银行体系对于经济来说与普通商业银行体系同样重要,但却脆弱的多。
The problem was not so much deregulation but regulation's failure to evolve with the so-called "shadow banking system".
问题并不在于规制的大幅放松,而在于规制未能跟上所谓“影子银行业系统”的演化步伐。
Just now, with finance in ruins, the nexus of markets and non-banks that make up the "shadow banking system" has failed.
目前,伴随着金融体系的严重受损,构成“影子银行体系”的市场与非银行金融机构之间的纽带已经失效。
In the US, the Dodd-Frank legislation makes several efforts to tackle the risks posed by the shadow banking sector.
在美国,多德·弗兰克(Dodd - Frank)法案做出了一些努力,试图应对影子银行业带来的风险。
The speculative binge was abetted by a giant "shadow banking system" in which the Banks relied heavily on short-term debt.
投机热潮被一个巨大的“影子银行系统”助长,在这一系统中银行很大程度上依赖于短期债务。
But substantial gaps remain in areas like supervision, cross-border resolution, too-important-to-fail, and shadow banking systems.
但是,在监督、跨境破产解决、重要到不能倒闭的机构以及影子银行体系等领域,还存在着巨大的缺口。
We should strengthen supervision and regulation over credit rating agencies, the shadow banking system and trans-border capital flows.
加强对信用评级机构、影子银行体系和跨境资本流动的监管。
My colleague Hyun Song Shin at Princeton has pointed out to me lately that the shadow banking system in the US is largely European Banks.
我在普林斯顿大学的同事申铉松(Hyun Song Shin)最近向我指出,美国的影子银行体系主要由欧洲银行组成。
There is a stylised model of what is meant to happen when the shadow banking system contracts, in which Banks act as "lenders of second-to-last resort".
当影子银行系统收缩时将会发生什么?关于这个问题存在一个程序化模型,商业银行在其中充当仅次于最后贷款人的角色。
As for financial risks such as shadow banking, we have tightened regulatory measures, set a timetable and started to apply the Basel III requirements.
对于“影子银行”等金融风险,我们也正在加强监管,已经排出时间表,推进实施巴赛尔协议III规定的监管措施。
We need to establish and enforce strict capital and leverage ratio requirements, bring the shadow banking system under supervision and regulation and formulate globally consistent accounting rules.
要建立并执行严格的资本和杠杆率要求,将影子银行体系纳入监管,制订全球统一的会计准则。
New institutions, such as hedge funds and conduits—what Paul McCulley, of Pimco, a fund management group, has called “the shadow banking system”—are highly dependent on borrowed money, or leverage.
像冲基金和管道机构---Pimco资金管理集团的Paul McCulley将它们称为“影子银行系统”---这样的新兴机构严重地依赖借入资金(或曰杠杆)。
Shadow banking-through large, interconnected financial firms, OTC derivatives, "repo" funding markets, hedge funds, and securitization-is brought into the regulatory daylight.
大量采用金融关联机构、场外交易衍生产品、回购资金市场、对冲基金和证券化的影子银行的做法被带到了监管的阳光下。
"Shadow" banking system needs fixing.
“影子”银行系统需要被修正。
There has also been a lot of interest from Banks and shadow-banking companies.
而且银行和“影子银行”公司也有很大兴趣。
There has also been a lot of interest from Banks and shadow-banking companies.
而且银行和“影子银行”公司也有很大兴趣。
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