At the top of the last cycle, capital levels would have needed to be about double the current permitted floor for America's Banks to have got through the crisis without raising more funds.
在最后一个周期顶部,美国银行若想不筹集更多资金便能闯过危机,那么资本水平必须是现今所允许最低水平的近一倍。
Thanks to the advent of well-managed sovereign-wealth funds, many have looked after their financial assets far more prudently over this cycle than during previous bonanzas.
多亏经营良好的主权财富基金的问世,与之前在石油危机中获得财富时相比,这一轮石油危机许多海湾国家更为谨慎地照看其金融资产。
Of course, they can always take part via their pension funds-though that will be little comfort if the credit cycle ever becomes a crunch.
当然他们总可以通过养老金基金参与其中——但一旦信用循环断裂这也丝毫不能起到什么安慰的作用。
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