But if their net exposure is so low, why have Banks been so coy about it?

但是如果各银行承受的净风险这么低，为何还对此讳莫如深？

youdao

The first was the bank's focus on traders' net exposure, the difference between the portfolios that are being arbitraged.

首先兴业的注意力集中在交易员的净暴露上，即被套利的交易组合之间的差值。

youdao

In such an arrangement, an investor agrees to buy into a new issue in return for being able to sell back to the Banks an equal amount of an old one, thus ensuring its net exposure does not rise.

在这种机制下，投资者同意在将等值的老债券卖给银行的情况下，购买新的债券，从而确保其净风险敞口并未进一步扩大。

youdao

The first was the bank's focus on traders' net exposure, the difference between the portfolios that are being arbitraged.

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The net exposure represents the gross exposure less liquid collateral and CDS protection purchase from investment-grade counterparties outside of these countries, Konrad explains.

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By creating a fictitious portfolio of trades that appeared to balance those he was really making, his net exposure stayed within set ranges and he remained below the radar.

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