大量采用金融关联机构、场外交易衍生产品、回购资金市场、对冲基金和证券化的影子银行的做法被带到了监管的阳光下。

Shadow banking-through large, interconnected financial firms, OTC derivatives, "repo" funding markets, hedge funds, and securitization-is brought into the regulatory daylight.

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将对冲基金和影子银行业纳入监管之下。

And bring hedge funds and shadow banking inside the regulatory net.

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像冲基金和管道机构---Pimco资金管理集团的Paul McCulley将它们称为“影子银行系统”---这样的新兴机构严重地依赖借入资金（或曰杠杆）。

New institutions, such as hedge funds and conduits—what Paul McCulley, of Pimco, a fund management group, has called “the shadow banking system”—are highly dependent on borrowed money, or leverage.

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