To become a true currency, the SDR would have to be a fully convertible instrument, not a line of credit, underwritten by countries with "hard" currencies.

如果特别提款权要成为一种真正的货币，它就得是一种可完全兑换的工具，而不仅仅是一种信用额度，而且必须由具有“硬”货币的国家签署认可。

youdao

I think a credit instrument is a written evidence of the extension of a loan.

我认为信用工具就是发放贷款的书面证明。

youdao

Each negotation must be endorsement on the reverse side of beneficiaries original credit instrument by the negotiating bank which has to confirm the endorsement on their documentary remittance letter.

每次递交议付时议付行必须在受益人提交的正式信用工具上确认这些背书！

youdao

This implies that a creditors primary concern is not the absolute safety of a bond or other credit instrument, but its relative safety.

FORBES: Inverse Moral Hazard: A Slaughter Rule For Finance

Anyhow, they are a debt instrument that trades more on the underlying credit risk of the company or the industry than on movements in interest rates.

FORBES: Dow Jones Interactive

Still, it must focus far more intensely on the implications for the war on terrorism and proliferation of allowing American legal persons to purchase this Iranian credit instrument.

CENTERFORSECURITYPOLICY: Center For Security Policy