It was their sudden withdrawal that caused the market in asset backed commercial paper (ABCP) to seize up.

正是由于他们从短期债券市场的突然撤出才导致了资产支持商业票据的失灵。

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Recreating its backstops for money-market funds, commercial paper and asset-backed securities might require such stringent conditions that no one would participate.

为了支持货币市场基金，商业票据和有资产担保的证券需要满足某些严苛条件，例如其他人不得参与。

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The Fed will also extend loans to Banks to buy asset-backed commercial paper from money-market funds that face redemptions.

美联储也会从货币市场买入面临赎回的有资产背景的商业票据，这相当于美联储扩大贷款范畴到银行业。

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Unfortunately, what we've seen recently is a kind of a bank run on the asset-backed commercial paper.

不幸的是,最近的情况是,有些银行开始运作资产担保商业票据

耶鲁公开课 - 金融市场课程节选

An SIV is a company of a sort that invests in assets and they issue something like asset-backed commercial paper, but it's not a real company because it only exists as an organization sponsored by some bank.

IV类似从事资产投资的公司,同时也发行类似资产担保商业票据的证券,但它不是一家真正的公司,因为它只是由某家银行建立的一个组织

耶鲁公开课 - 金融市场课程节选

Recreating its backstops for money-market funds, commercial paper and asset-backed securities might require such stringent conditions that no one would participate.

ECONOMIST: What if there were another Lehman?

Charles Goodhart, a member of the Bank of England's monetary policy committee, presented a controversial paper on asset prices at a Eurostat conference this week.

ECONOMIST: Bubble trouble

Known as conduits, these special-purpose vehicles borrow in the short-term, commercial-paper market to make acquisitions of highly rated paper in American asset-backed securities, and have been walloped by the plunging value of those assets since the frailty of subprime loans were exposed.

ECONOMIST: Fears in the credit markets