How will we offset the reserve impact of PDCF loans?
我们应该怎样对冲定期债券借贷安排带来的储备金影响？
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。
Watermark embedding at a server end, encryption and PDCF packaging of media data and reverse processing of a client are the core content of the invention.
服务器端水印嵌入、媒体数据的加密和PD CF打包以及客户端的逆处理过程是本发明的核心内容。
Loans made under the PDCF were secured by collateral and discounted to protect the Fed from risk of loss should it have had to sell collateral in the event of a default.
通过一级交易商信贷便利发放的贷款，都有抵押品担保，并且进行了贴现，这样一来，万一发生违约，而美联储不得不卖出抵押品时，美联储可以避免承担损失风险。
You should also note that he was a big admirer of Franklin Delano Roosevelt, and this might be reflected in his use of acronyms for all his various "vehicles" (TARP, TAF, TSLF, PDCF, TALF, TDF, etc.).
你也可以注意到，他是富兰克林·罗斯福的拥护者。这也许可以从他手中五花八样的“工具”中体现出来，他也喜欢给它们以首字母缩略词命名。
You should also note that he was a big admirer of Franklin Delano Roosevelt, and this might be reflected in his use of acronyms for all his various "vehicles" (TARP, TAF, TSLF, PDCF, TALF, TDF, etc.).
你也可以注意到，他是富兰克林·罗斯福的拥护者。这也许可以从他手中五花八样的“工具”中体现出来，他也喜欢给它们以首字母缩略词命名。
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