It was their sudden withdrawal that caused the market in asset backed commercial paper (ABCP) to seize up.

正是由于他们从短期债券市场的突然撤出才导致了资产支持商业票据的失灵。

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Until recently, activity in this type of asset-backed security had held up reasonably well.

直至最近，此类资产支持证券活动仍保持相当良好的状态。

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These asset-backed securities became ever more complex.

这些抵押债券变得越来越复杂。

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Unfortunately, what we've seen recently is a kind of a bank run on the asset-backed commercial paper.

不幸的是,最近的情况是,有些银行开始运作资产担保商业票据

耶鲁公开课 - 金融市场课程节选

An SIV is a company of a sort that invests in assets and they issue something like asset-backed commercial paper, but it's not a real company because it only exists as an organization sponsored by some bank.

IV类似从事资产投资的公司,同时也发行类似资产担保商业票据的证券,但它不是一家真正的公司,因为它只是由某家银行建立的一个组织

耶鲁公开课 - 金融市场课程节选

After being left for dead in 2008, there are signs of rebirth in asset backed securities.

FORBES: Asset Backed Finance Rising From 2008 Ashes

Also showing strength on the year are Fixed Income-Asset Backed strategies which returned 6% year to date.

FORBES: Hedge Funds Sink In Worst Quarter Since '08

In addition to this, the mortgage and asset backed markets still have a way to go before normalizing.

FORBES: Morgan Stanley Makes Hay With Higher Rates