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。

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Increasing the haircuts for some securities would offer extra protection against the risk that initial valuations of collateral are too generous.

对一些证券提高垫头将为其提供额外保护，以抵抗由于抵押物的期初估价过高所产生的风险。

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To offset the risk, the bank has to hand over collateral.

要消除该危机，银行必须交出抵押品。

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Now Mr. Milton took some risks when he separated himself from his cash and lent money to his clients, or lent more money to his clients than the collateral, the gold, was actually worth. And the motive for that risk, of course, the motive for that investment, was the expectation of a profit.

但是弥尔顿先生却冒着把自己和他的现金,也丢了的风险，或者借出去的钱比担保财产还要多，他这么投资的动机是，希望获得收益。

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"Without this information, it's difficult to assess the counterparty and collateral risk embedded in an ETF or fund, " says Steve Kole, an investor in Texas.

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Bank loans are all about risk and collateral.

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Bringing complicated derivative exchanges out of the shadows would enhance market-price transparency, and increased collateral requirements would reduce the risk of investors and banks being wiped out by mistaken trades that allegedly threaten the financial system.

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