针对央行票据过度膨胀带来的负面影响，文章认为，应该从根源上解决人民币超额发行问题。
Too much Central Bank Bill leads to some negative effect, the article concludes the problem about RMB's excess issue should be solved from the root.
我国的“外汇资产—人民币”发行模式导致了货币的超额发行，央行票据是对中央银行超额发行债务的置换。
Because of RMB's excess issue through "foreign currency assets - RMB" model in China, Central Bank Bill as a debt tool has been replacing the excess currency.
人人IPO的承销商队伍包括摩根士丹利（Morgan Stanley）、德意志银行（Deutsche Bank）和瑞信（Credit Suisse）等投行。 这些承销商拥有一项超额发行权，如果需求很高的话，他们有权额外销售800万股。
Underwriters – led by Morgan Stanley, Deutsche Bank and Credit Suisse – have a greenshoe option to sell another 8 million shares if demand is high.
然后央行再发行大量票据或者通过提高商业银行的准备金率要求来抹干超额的流动性。
It then mops up this excess liquidity by issuing bills (as "sterilisation") or by lifting Banks' reserve requirements.
发行人通常喜欢超额认购，这样一旦交易完成，债券更有可能会反弹。
Issuers typically like to have oversubscribed offerings: it makes it more likely that bonds will rally once the deal closes.
虽然发行的债券没有被评级，却被大量地超额认购。
Although the issue was unrated, it was heavily oversubscribed.
首批发行的债券有主权担保的，大约是全部的6,85 %，已经被超额认购了。
The first tranches of bonds, offering 6.85% and a sovereign guarantee, were oversubscribed.
国内发行部分获得了约3倍超额认购，海外发行部分获得了接近10倍的超额认购。
The domestic tranche was about three times oversubscribed and the overseas offering close to 10 times.
然后央行再发行大量票据或者通过提高商业银行的准备金率要求来抹干超额的流动性。
It then mops up this excess liquidity by issuing bills (as 'sterilisation ') or by lifting Banks 'reserve requirements.
以我国引入超额配售选择权的新股发行流程为基础，将发行定价策略分为热销策略和弱销策略进行分析和求解，并用具体算例进行比较。
Based on the schedule of IPO with green-shoe option in China, we classify the IPO pricing into hot-IPO strategy and weak-IPO strategy to analyze and find the solution.
中国中信集团有限公司于2016年10月20日完成1000亿日元武士债的定价发行并获得超额认购。
CITIC Group Corporation completed a 100 billion yen Samurai bond pricing and issued to obtain over-subscription on October 20th, 2016.
2001年，根据债券发行计划发行的债券的超额认购倍数平均为6.8倍。
The over-subscription rate of the notes issued in 2001 averaged 6.8 times.
2001年，根据债券发行计划发行的债券的超额认购倍数平均为6.8倍。
The over-subscription rate of the notes issued in 2001 averaged 6.8 times.
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