He is referring to the us central bank-orchestrated rescue of the Bear Stearns investment bank, which teetered on the brink of bankruptcy because of loan losses.

卡鲁那指的是上个月美国中央银行美联储合力帮助挽救华尔街投资银行贝尔斯登公司。贝尔斯登公司由于受到信贷亏损的打击而濒临破产。

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This week the CBRC hinted for the first time that it may allow the special investment vehicles holding most of this debt to delay loan payments.

本周，银监会表示它们将首次允许特殊投资方接管延迟还贷造成的大部分债务。

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But it will consist overwhelmingly of the dodgy bits of the investment bank (such as its leveraged-loan and property activities), which will probably be wound up over several years.

但是，坏银行中绝大部分还是投资银行的高风险成分(比如杠杆贷款和房产买卖)，RBS很可能在未来几年内将其清盘。

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Risk aversion also adds to interest rate costs on short term bank loans, and with Russia considered a risk investment, loan costs inevitably rise.

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Between them, the fiscal investment and loan programme and the 30-odd special budgets for specific undertakings (eg, road building) add up to more than the national budget.

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Most economists think the Fed helps by offering to loan investment banks money directly if they needed.

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