可是“两房”通过传统的担保业务及购买抵押贷款支持的证券扩大了它们的高风险贷款敞口。
Yet both companies expanded their exposure to riskier loans, both through their traditional guarantee business and through the purchase of mortgage-backed securities.
首先，解决抵押担保证券市场中的流动性问题。
First, address illiquidity in the market for mortgage-backed securities.
证交会表明这些衍生品给了这个对冲基金激励去挑选会出问题的抵押担保证券。
The SEC argues that these derivatives gave the hedge fund an incentive to select mortgage securities that would bomb.
证交会表明这些衍生品给了这个对冲基金激励去挑选会出问题的抵押担保证券。
The SEC argues that these derivatives gave the hedge fund an incentive to select mortgage securities that would bomb. And bomb they did.
其二，美联储已经在交易低风险，低回报的国债和购买高收益的私人债券-例如银行贴现贷款，商业票据，和抵押担保证券。
Second, it has been trading in low-risk, low-return Treasury debt and buying higher-yielding private debt—discount loans to banks, commercial paper, and mortgage-backed securities, for example.
尽管存在一些可怕的可参照金融产品，还是很难下结论说ETFs已经引发了和抵押担保证券相当的系统风险。
Despite some eerie parallels, it is hard to conclude that ETFs yet pose a systemic risk on the same scale as mortgage-backed securities.
对发行者来说，有资产抵押证券的成本要比筹集无担保债务低的多，同时它的发行不依赖于证券市场的复苏。
For issuers, the costs of funding are lower than raising unsecured debt, and issuance does not depend on the revival of the securitisation markets.
考虑到杠杆水平最近的爆炸式增长，挑战可能不仅仅是有毒抵押贷款担保证券的错误定价。
Given the recent explosion in leverage, the challenge is unlikely to be one of mispricing of the toxic mortgage-backed securities alone.
皮尔斯指出，商业抵押贷款担保证券的价值正在下滑，而这是最近才暴露出问题的一块业务。
And in a fresh problem area for Banks, commercial-mortgage-backed securities are declining in value, Mr. Pierce said.
担保债权凭证“是一种将有稳定收入流的固定资产组合，如住房抵押贷款打包而成的有价证券。”
"Collateralized Debt Obligations" are securities based upon a portfolio of fixed income-producing assets, such as home mortgages.
影响的扩大戏剧性的出现在了更具风险的抵押贷款证券化的产品,以及以此为基础的合并债务担保证券（CDO）。
Spreads have dramatically widened on the securities backed by riskier mortgages and the pooled and debt-laden collateralised-debt obligations (CDOs) based on them.
住房抵押贷款担保证券依据不同投资者的风险承受程度向许多投资者发行。
These were sold to a wide range of investors, depending on their tolerance for risk.
美联储抵押贷款担保证券收购计划到期后，购房者的付款率已出现激增。
The end of the Federal Reserve’s scheme for purchasing mortgage-backed securities has already led to a jump in the rates paid by homebuyers.
美联储抵押贷款担保证券收购计划到期后，购房者的付款率已出现激增。
The end of the Federal Reserve's scheme for purchasing mortgage-backed securities has already led to a jump in the rates paid by homebuyers.
华尔街上众银行将大量的次优贷款打包重组，并以此发行住房抵押贷款担保证券(MBS)，卖给贪图高收益的投资者(见下图)。
Wall Street Banks did a roaring trade packaging bunches of subprime loans into mortgage-backed securities, and selling them on to investors, greedy for yields (see chart).
我们用它来支付账单，我们的债权人不仅接受，而且还极其热心地用它来购买美国发行的各种证劵，包括如今无人问津的抵押担保证券（mortgage-backedsecurities）。
We pay our bills with it. And our creditors not only accept it, they also obligingly invest it in American securities, including our slightly shop-soiled mortgage-backed securities.
CDO以次级抵押贷款债券、商业抵押贷款证券和其他资产作为担保。
These securities are collateralized debt obligations backed by subprime-mortgage bonds, commercial-mortgage loans and other assets.
德意志银行的Richard Parkus认为如果商业地产借款人不能大幅增加偿还资金，在美国发行的所有商业抵押担保证券的70%将无法用于再融资。
Richard Parkus, of Deutsche Bank, thinks that 70% of all CMBS issued recently in America will not be able to refinance without a big increase in the capital that borrowers stump up.
我们正在组建一个万亿市场，同抵押担保证券一样，该市场易于受华尔街操控。
There’s a concern that we’re creating a new $1 trillion market that will be susceptible to being manipulated by Wall Street in the same way as mortgage-backed securities were.
信贷评级机构Realpoint表示，在过去的12个月里已有近290亿美元，约占整体的3.5%的商业抵押担保证券贷款成为拖欠账款（借款人没有按时交纳利息）。
Realpoint, a credit-rating agency, says that nearly $29 billion of CMBSs, around 3.5% of the total, have become delinquent (ie, borrowers have not kept up interest payments) in the past 12 months.
大多数资产担保证券，都是通过抵押贷款、信用卡贷款和汽车贷款产生的收入获利的。
Most asset-backed securities are secured by income generated from mortgages, credit card loans and auto loans.
他们保留某些贷款，但将其余部分作为抵押担保证券重新出售。
They keep some loans but resell others as mortgage-backed securities.
要想获得新的贷款，一种方法就是出售房产抵押担保证券。
One way to make capital available for new loans is to sell mortgage backed mortgage-backed securities.
然而，现在是非常时期，他希望各机构在与贝尔斯登交易时不要提出不合理的资产抵押要求，或要求额外现金和证券为贷款提供担保，并要以诚信原则与贝尔斯登进行交易。
But these were not normal times. He expected firms not to make unreasonable collateral demands, or calls for extra cash or securities to back up loans, and to trade in good faith with Bear.
利用伪造、变造的国库券或者国家发行的其他有价证券抵销债务或设立抵押，提供担保。
Use government bonds and any other nation-issued valuable securities which are altered or counterfeited to counteract the debts or make mortgage guarantee.
担保契约协议当提供贷款时允许经纪公司将账户内的证券作为抵押品。必须在开设空白账户时签署。
Hypothecation Agreement Allows a brokerage to use securities in an account as collateral when providing loans. Must be signed when opening a margin account.
担保契约协议当提供贷款时允许经纪公司将账户内的证券作为抵押品。必须在开设空白账户时签署。
Hypothecation Agreement Allows a brokerage to use securities in an account as collateral when providing loans. Must be signed when opening a margin account.
应用推荐