一级交易商信贷工具是，对会员银行贴现窗口的一种扩展。
What the PDCF is it's really an extension of the discount window beyond member Banks.
突然放开对投资银行的贴现窗口，美联储默认了旧的规则不再适用。
By throwing open its discount window to investment Banks, the Fed has tacitly admitted that the old rules no longer apply.
然而，FED可以绕过市场在贴现窗口直接贷款给银行，它们的抵押标准更具弹性。
However, the Fed can bypass the markets and lend directly to Banks at its discount window, where collateral standards are more flexible.
美国过去也是如此，美联储的工具也反映了这一点：它通常只通过银行的贴现窗口出借。
America's once was, too, and the Fed's tools reflect that: it can ordinarily lend only to Banks from its discount window.
联邦公开市场委员会，贴现窗口，公开市场活动–它们的确切含义是什么？
The FOMC (Federal Open Market Committee), the discount window, open market operations – what exactly do they mean?
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。
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.
不幸的是这个事实被湮没直到最近的欧洲中央银行的意愿来接受主债务的所有成员国在平等条件在贴现窗口。
Unfortunately this fact was obscured until recently by the willingness of the European Central Bank to accept the sovereign debt of all member countries on equal terms at its discount window.
次贷危机爆发后，伯南克先生的第一个措施就是降低利率，并从美联储的贴现窗口加长对银行直接贷款的期限。
When the crisis first hit, Mr Bernanke's first step was to lower the interest rate and lengthen the term on direct loans to Banks from the Fed's discount window.
在欧洲尚且还可看到几宗私人交易，但所设计的这些交易对投资者具有很大的吸引力，并可以作为欧洲央行贴现窗口的抵押物。
Europe has seen a few private deals, but these were structured to be highly attractive to investors and acceptable as collateral at the European Central Bank's discount window.
在银行反应迟钝的时候，美联储实行“期限拍卖场”，以使从其贴现窗口获得的贷款便宜且匿名(也给了借款银行面子)。
When Banks were slow to respond, the Fed devised its "term auction facility" to make loans at the discount window cheaper and more anonymous (and therefore with less stigma for the borrowing bank).
贴现窗口的借款还是有污名的，这意味着银行不到太迟，甚至到了它们很绝望的时候，它们都不大情愿用这种方法去解救自己。
There is still a stigma attached to discount-window borrowing, which means Banks may be unwilling to avail themselves of it until it is too late, even when they are truly desperate.
他们希望消除这种瑕疵，过去在贴现窗口借钱，常常被认为是尴尬的事，因为贴现率将，因为这将是处于困境的银行的，进入权。
They wanted to eliminate the stigma it used to be embarrassing to borrow at the discount window because the discount rate would because it would be an admission that the bank is in trouble.
美联储还缩短了部分贴现窗口贷款期限，并提高了向银行提供隔夜资金的短期拍卖工具(term auction facilities)最低竞价。
The Fed also shortened the term of some discount window loans and raised the minimum bid in the term auction facilities it USES to supply overnight funds to Banks.
高盛在去年秋天成为银行控股公司，所以其可以利用美联储低廉的窗口贴现，而且它的零售借贷业务可以忽略不计。
Goldman Sachs converted to bank holding company status only last fall so it could gain access to cheap money from the Federal Reserve. It has a negligible retail banking presence.
如连续降低存贷款利率，调低商业银行存款准备金率，灵活运用窗口指导政策、扩大再贴现和中央银行再贷款规模等。
Interest has been decreased successively, deposited reserve has also been lowered, and rediscount and reloan from PBC has been enlarged, etc.
如连续降低存贷款利率，调低商业银行存款准备金率，灵活运用窗口指导政策、扩大再贴现和中央银行再贷款规模等。
Interest has been decreased successively, deposited reserve has also been lowered, and rediscount and reloan from PBC has been enlarged, etc.
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