If the transfer does not meet this requirement, the two parties to the transaction must account for the transfer as a secured borrowing with a pledge of collateral.

如果转让并不符合这一要求，双方的交易必须转移帐户作为质押担保借款的担保品。

youdao

America's two surviving investment Banks, Goldman Sachs and Morgan Stanley, still depend on shorter-term borrowing, usually secured with collateral (see chart).

美国两家幸存的投资银行——高盛和摩根·士丹利，仍然依赖于短期借贷，以及紧紧靠着抵押担保(见本期图表)。

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This raises the value of the collateral against which borrowing is secured. It then becomes easier to borrow to buy homes, which pushes prices even higher.

作为贷款担保的抵押品的价格也随之上涨，使得贷款买房变得更加容易，从而再次促使房价上升。

youdao

Second, some assets can't be converted into a form suitable for secured borrowing.

BBC: Business

As you would expect, in stressed parts of the eurozone the growth in secured borrowing has been exceptionally rapid: between 2005 and 2011, the ratio of encumbered assets to total assets increased tenfold for Greek banks, to one third of the total.

BBC: Business

Banks have become increasingly dependent on various forms of secured borrowing, especially in what's known as the repo market, which is where banks swap bonds and other assets for loans from hedge funds and specialist parts of banks (yes there are banks at both ends of this market).

BBC: Business