But that goal would itself involve a more expensive capital structure in the form of a layer of debt that can turn into equity in an emergency; it is in any case a long way from being reached.

然而，这个目标本身就需要在债务层建立一个更昂贵的资本结构，以确保紧急情况下这些债务可以转变为可用资金。所以，要达到这一目标，还需要很长的路要走。

youdao

This, in turn, might require a rejigging of creditors, or the creation of a new type of debt that would convert into equity in certain circumstances.

也就是说应该要求重新调整债权人，或者是建立一个新型债券工具，能够在一些情况下转换成股票。

youdao

The more that risk could be calibrated, the greater the opportunity to turn debt into securities that could be sold or held in trading books, with lower capital charges than regular loans.

如果越多的风险能够被校准，那么在交易账户中以资本费用低于正常贷款而在交易账户中记录被出后或持有的可转换债券的机会就越多。

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There are two ways to turn equity into debt.

FORBES: The Equity Vanishes

As Buck put it, any additional cuts, either from the joint committee or the sequestration trigger, would turn a debt crisis into a national security crisis.

CENTERFORSECURITYPOLICY: Center For Security Policy

The Law Society of Scotland has also raised concerns the move could turn solicitors into "unpaid debt collectors", saying the Scottish Legal Aid Board was the "obvious body" for collecting money.

BBC: Lawyers threaten action over Scottish legal aid change