Unlike the former view that the character of Central Bank Bill is bond issued by Central Bank, this paper afresh explains its character from debt replacement instrument.

与把央行票据性质定位为中央银行债券的传统角度不同，本文从债务置换工具的视角重新阐释了央行票据的性质。

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The increasing trend of foreign currency assets determines the continuance of Central Bank Bill as debt replacement instrument.

外汇资产的递增趋势决定了央行票据作为债务置换工具的可持续性。

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Liberal Democrat social justice spokesman Robert Brown said the old system of debt recovery was outdated and that the Bill offered a replacement.

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Mr Chamberlain said insurance for the shop in Bridge Street did not cover vandalism, so the business had to foot the bill for the replacement glass.

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The Financial Services Bill will mean the replacement of the Financial Services Authority by two new bodies.

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