保证金贷款

证券监管机构多次警告称，券商应当控制保证金贷款的风险。此类贷款已出现爆炸性增长。

The securities regulator has repeatedly warned that brokers should control risk from margin lending , which has exploded .

投资者正在押注，新的业务领域（如保证金贷款、企业贷款承销和证券化）将创造新的利润来源。

Investors are now betting that new business areas such as margin lending , corporate loan underwriting and securitisation will create fresh sources of profit .

截至4月末，未偿付的保证金贷款总额近4090亿美元。

Margin loans outstanding totaled nearly $ 409 billion at the end of April .

然而，在保证金贷款灰色市场的黑暗世界里，却没什么规则可言。

In the murky world of grey-market margin lending , however , few rules apply .

面向散户投资者的保证金贷款，是推动上海和深圳股市飙涨的火箭燃料。

Lending on margin to retail investors is the rocket fuel powering the soaring markets in Shanghai and Shenzhen .

商业银行通过下设证券附属机构来进入这个市场，并向其客户提供保证金贷款。

Through commercial banks under the securities subsidiary body to enter this market and its customers with margin loans .

保证金贷款的杠杆可以达到5：1或者更高，投资者可以下注的股票也没有限制。

Leverage can reach 5:1 or higher , and there are no limits on which shares investors can bet on .

当地的银行看上去也从这些交易中受到了鼓舞，把保证金贷款提高到了初募股价的90%。

Local banks appear to share the confidence , extending margin loans for up to90 % of the initial share price .

保证金贷款曾为中国股市从去年底开始上涨助了一臂之力，但它如今却在拖累股市。

Margin lending , which helped fuel the stock market rally that began late last year , is now dragging on the market .

许多中国券商收紧了融资条件，要求在计算为获得保证金贷款而质押的证券的面值时，计入更大幅度的折让。

Many Chinese securities brokerages have tightened margin lending requirements , requiring bigger haircuts on the face value of securities pledged for margin loans .

亚特兰大的财务规划师米彻•雷纳表示，他有几位客户利用保证金贷款为小企业收购进行了融资。

Mitch Reiner , a financial planner in Atlanta , says he has had a few clients use margin loans to finance acquisitions for their small businesses .

这是迄今关于中国证券金融公司行动的最明确表述：直接使用央行资金购买股票，严重偏离了其向券商放贷以支持保证金贷款的传统角色。

This is the clearest statement yet about what CSF is doing & buying shares directly using PBoC money , a big departure from its traditional role of lending to brokerages to support margin lending .

这对夫妇在一年前提起的诉讼中指控高盛在金融危机鼎盛时期，哄骗他们卖出一部分美满电子股票来支撑保证金贷款，导致他们损失了1亿美元。

The suit claims that Goldman cost the married couple $ 100 million by duping them into selling a portion of their Marvell shares to cover a margin loan at the height of the financial crisis .

分析师们表示，保证金贷款的泛滥带来了雪球效应风险，因为在亏损越来越大的情况下，利用保证金的投资者除非能够拿出额外担保金，否则将被迫平仓。

Analysts say the proliferation of margin lending creates the risk of a snowball effect as margin investors , faced with mounting losses , are forced to liquidate their positions unless they can post additional collateral .

假如你毋需使用保证金贷款，或不希望本身证券或证券抵押品被借出或遭抵押，则切勿签署上述的授权书，并应要求开立该等现金帐户。

If you do not require margin facilities or do not wish your securities or securities collateral to be lent or pledged , do not sign the above authorities and ask to open this type of cash account .

财务规划师们称，最近几个月，有客户用保证金贷款购置房地产、收购小企业或解决在银行传统贷款到位前的资金缺口。

Financial planners say in recent months clients have taken out so-called margin loans to buy real estate , fund small business acquisitions , or to provide gap financing before a traditional loan could be secured from a bank .

中国影子银行对于在中国经济放缓背景下发放贷款日益小心，它们已转向中国股市，令一些没有受到监管的保证金贷款急剧增加。过去一年里，这些保证金贷款推动中国股市疯狂上涨。

China 's shadow banks , increasingly wary of lending into a slowing economy , have turned to the stock market , fuelling a surge in unregulated margin lending that has driven the market 's dizzying gains over the past year .

总的来说，在1920年商业银行（含存款，发放建设贷款等类型）进人牛市，进行发放保证金贷款，承保新发行业务和聚集投资，买卖股票一系列的活动。

Crudely speaking , in the 1920s commercial banks ( the types that took deposits , made construction loans , etc. ) plunged into the bull market , making margin loans , underwriting new issues and investment pools , and trading stocks .

11月10日：美联储和财政部怀柔条件的援助，以美国国际集团，同时优先股和降低贷款保证金和贷款费用。

Nov.10 : The Fed and Treasury sweeten terms of aid to AIG , taking preferred stock and reducing loan margin and lending fees .