商业票据市场

有资产担保的商业票据市场陷入停顿，各银行为将抵押贷款移至资产负债表外而建立的特殊投资工具（specialinvestmentvehicles），也不再能够获得外部融资。

The asset-backed commercial paper market came to a standstill and the special investment vehicles set up by banks to get mortgages off their balance sheets could no longer get outside financing .

巴克莱资本（BarclaysCapital）固定收益研究部门负责人AjayRajadhyaksha说，Fed的这项计划应能“对商业票据市场缓解一定的压力”。

The Fed 's program should'relieve a fair amount of the pressure on the commercial paper market , 'says Ajay Rajadhyaksha , head of fixed-income research at Barclays Capital .

美联储（federalreserve）发布的数据显示，商业票据市场投资额出现了自该机构2001年开始跟踪这一领域以来的最大单周下降。

Data released by the US Federal Reserve showed the amount invested had its biggest weekly drop since the central bank began tracking the sector in 2001 .

巴克莱（Barclays）全球信贷策略主管罗伯特•麦卡迪（RobertMcAdie）表示：我们正处于一个小型的商业票据市场危机之中，至少其中一半的原因与结构性投资工具管道有关。

We are in the middle of a mini-crisis in the commercial paper market , at least half of which is related to the SIV conduits , says Robert McAdie , global head of credit strategy at Barclays .

韩国央行副行长leeju-yeol说，为该基金提供流动性支持旨在帮助公司债券和商业票据市场上的资金实现顺利流动。

' the liquidity support for the fund is aimed at helping to smooth liquidity flow in the corporate bond and commercial paper ' markets , said Lee ju-yeol , a deputy governor at the central bank .

日本央行（boj）昨日表示，在资本市场活动急剧萎缩期间曾上升的银行信贷增长已连续第5个月放缓，反映出公司债券及商业票据市场的复苏。

Growth in bank lending , which has risen amid a sharp contraction in capital market activity , also slowed for the fifth straight month , the Bank of Japan said yesterday , reflecting a recovery in the corporate bond and commercial paper markets .

雷曼灭亡扰乱了商业票据市场。

The demise of Lehman disrupted the commercial paper market .

商业票据市场的融资成本也大幅下降。

The cost of funding in the commercial paper market also tumbled .

商业票据市场的利率风险管理

Interest Rate Risk Management in Commercial Bill Market

国际商业票据市场的发展与借鉴

Evolution and Enlightenment of International Commercial Note Market

商业票据市场的比较研究

Comparative Study on Commercial Paper Market

其次介绍商业票据市场利率风险的产生。

Secondly , it introduces the coming into being of the interest rate risk in bill market .

直到6月中旬，欧洲商业票据市场的发行规模还在不断创纪录。

As recently as mid-June , the European commercial paper market was seeing records levels of issuance .

金融商业票据市场的活跃进一步证明，银行业体系正在企稳。

Further evidence that the banking system is stabilising is seen by activity in financial commercial paper .

随着商业票据市场的萎缩，银行不得不将更多贷款债权留在手中。

With that market shrinking , banks have to hold on to more of the loans they make .

银行以信贷额度为这些管道提供支持，这些信贷额度可以使它们在商业票据市场上借贷。

They supported these conduits with credit lines that enabled them to borrow in the commercial paper market .

货币市场基金是商业票据市场传统的主要投资者，而公司和银行需要借助这个市场获得短期融资。

Money-market fund managers are traditionally large participants in the commercial-paper market , where companies and banks finance near-term obligations .

随后重点讲述我国商业票据市场加强利率风险管理的必要性。

Thirdly , it pays attention to the necessary of enhance the interest rate risk management in the bill market .

美联储还制订了一个新的计划，用于支持已冻结的商业票据市场。

The Fed has also announced a new program to provide support for the commercial paper market , which is freezing up .

要改变目前的现状，必须在完善银行承兑汇票市场的基础上，开发商业票据市场。

To change the present situation , commercial paper market must be developed on the basis of perfecting bankers ' acceptance market .

这个市场中的一切，都取决于资产支持商业票据市场中的投资者对这些工具和它们持有的资产保持信念。

Everything in this market depends on investors in the ABCP market maintaining their faith in the programmes and the assets they hold .

减债行动最终导致商业票据市场（即企业实体筹集短期融资的市场）爆发了企业信贷危机。

The deleveraging also eventually contributed to a corporate credit crunch in the commercial paper market or the sector where entities raise short-term finance .

货币市场依然面临严峻压力，很多公司赖以为经营融资的商业票据市场基本陷于停滞。

Money markets remained under severe stress and the commercial paper market used by many companies to fund their business operations was largely frozen .

昨日早些时候，投资者一度延续了转向高质量资产的避险行为，在规避深受打击的商业票据市场的同时，大举购买短期国债。

Investors had initially poured into short-term government debt yesterday , extending a flight to quality as they shunned the stricken commercial paper market .

这导致许多企业难以甚至根本没可能对债券进行展期，还引发商业票据市场出现整体萎缩。

That made it difficult or impossible for many companies to roll over their debt , and also caused the overall commercial paper market to shrink .

一家大型货币市场基金“跌破1美元”，依赖于商业票据市场的投资银行难以筹集到运营资金。

A large money market fund " broke the buck " and investment banks that relied on the commercial paper market had difficulty financing their operations .

票据市场是货币市场的重要组成部分，包括商业票据市场和银行承兑汇票市场。

The Bill Market is an essential part of the Currency Market , including the Commercial Bill Market and the Bank 's Acceptance of Bill Market .

昨日市场继续保持紧张态势，原因之一是新数据显示商业票据市场继续紧缩。

It also came on a day of continued market nerves , caused not least by new figures showing the continued contraction of the commercial paper market .

近年来，这些筹资额度鲜有减少，因为就像金融世界几乎所有其它领域一样，资产支持商业票据市场的流动性也一直比较丰沛。

These funding lines have rarely been drawn in recent years , because liquidity has been abundant in the ABCP market as almost everywhere else in the financial world .

到8月初，资产支持商业票据市场的问题已变得非常严重，一些欧洲银行开始准备进一步呼吁为结构性投资工具提供信贷额度。

By early August , the problems in the ABCP market had become so serious that some European banks were preparing for additional calls on credit lines to SIVs .