组成可以细分为抵押债券义务和抵押贷款义务。

The composition can be subdivided Collateralized Bond Obligations, and Collateralized loan Obligations.

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贷款抵押债券主要由银行杠杆贷款支持。

Collateralized loan obligations are backed primarily by leveraged bank loans.

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在管理层薪资水平以及由股票、债券、贷款、通货和期货处获得的附带收益与合同方面也会加强监管。

It also expands oversight of executive compensation and derivatives, contracts whose value is derived from stocks, bonds, loans, currencies and commodities.

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Then, the value of the subprime loans that the municipal bond insurers own starts to go down.

接着,市政债券保险公司,持有的次级贷款价值开始下跌

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Lots and lots of loans, the securities that people bought at par that were worth about somewhere between zero and $.15 or $.20 and now trade there.

市场上充斥着越来越多的贷款，人们按照面值购买的债券,真正的价值只有大概,0到0。15或者0。20美元0,而它们就这样进行交易。

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In other words, securities that were themselves backed by subprime loans.

所谓次级债券,就是那些靠次级贷款担保的证券

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