If Greece defaults, these bonds would be used as collateral to repay Banks the principal they loaned.

如果希腊不履行责任，那么这些债券将会被作为银行借贷资本的抵押品来偿还银行。

youdao

That has a side effect: The European Central Bank has made clear it wouldn't accept defaulted bonds as collateral for its lending operations.

这样会产生一个副作用：欧洲央行已明确表示，在它提供贷款时，不会接受违约债券作为抵押。

youdao

More worrying for Greece even than the rising cost of borrowing is that it may soon find its bonds are not accepted as collateral by the European Central Bank (ECB).

比起借贷成本的增加，更多的担忧集中在欧洲央行不接受希腊债券作为附属担保品的可能性上。

youdao

Some say banks have been demanding German bonds as collateral for financing and refusing to accept the bonds of other euro-zone countries.

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If the ECB were to stop accepting Greek bonds as collateral for its lending to banks on the grounds that the bonds were in default, then Greece's banks, which were stuffed full of their government's bonds, would quickly run out of cash and collapse.

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NTT, Japan Tobacco and other companies as collateral for the bonds.

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