“影子银行业系统”是一种由私募股权、对冲基金、货币市场基金以及拍卖利率证券，外加诸如通用电气资本等非银行机构和债务抵押证券、信用违约掉期等新型证券所组成的网络。

This is a nexus of private-equity and hedge funds, money-market funds and auction-rate securities, non-banks such as GE Capital and new securities such as CDOs and credit-default swaps.

youdao