次级证券

但它将适用于所有次级证券，并至少与普通股等值。

But it would apply to all subordinated securities and would be at least equivalent in value to the common equity .

风险最高的次级证券几乎没有人持有。

The riskiest subprime securitieshave almost no takers .

与此同时，美联储将为遗留资产提供融资可能包括以前评级为AAA级的次级证券。

The Fed will , meanwhile , offer financing for legacy assets potentially including formerly triple A-rated subprime securities .

目前，AIG已另行与一系列银行达成和解。此前该公司曾声称，这些银行对它们销售并让AIG承保的有毒次级证券负有责任。

The company has separately reached settlements with a string of banks , which it claimed bore responsibility for the toxic subprime securities which they sold and had insured by AIG .

未来的金融历史学家在回顾21世纪初的历史时，可能会纳闷当时的人们为什么会认为把次级证券重新打包成AAA级债券是个好主意。

When future financial historians look back at the early 21st century , they may wonder why anybody ever thought it was a good idea to repackage subprime securities into triple A bonds .

对冲基金表示，近些天来，有几家银行已切断了以按揭、债务抵押债券（cdo）和次级证券为抵押品的基金的贷款渠道。

Hedge funds say several banks in recent days have cut off lending pipelines to funds that use credit portfolios , including mortgages , collateralised debt obligations and subprime securities , as collateral .

部分结果直接与次级证券或结构性信贷工具有关。

Part of the fallout relates directly to subprime exposure or to structured credit instruments .

次级证券在资产与收入索偿权方面，等级较低的证券。

Junior security a security that ranks below others in regards to claim on assets and income .

和在美国次级证券上的表现不同，评级机构在主权债务评级方面的记录可圈可点。

Unlike their performance on US mortgages , the agencies have a fairly sound record on sovereign debt .

梅奥注意到，道富银行的主动管理型次级证券基金规模，在3个月内从80亿美元降至30亿美元。

Mr Mayo noted that State Street 's actively managed funds dealing with subprime securities dropped from $ 8bn to $ 3bn in three months .

2008年，造成美国抵押贷款市场重创的次级证券中风险最高的部分，其杠杆大致也在这一水平。

That is similar to the leverage in the riskiest slices of the subprime securities that wreaked havoc in the US mortgage market in 2008 .

评级机构在2008年的危机的败笔，就是对次级证券给出了错误的认可，然后又匆匆忙忙调低其评级。

The agencies ' failure in the 2008 crisis was to give a false seal of approval to subprime securities , and then to downgrade them in a rush .

当然，SIV一词如今几乎和次级贷款证券化一样成为禁忌。

These days , of course , the word SIV has become almost as taboo as the phrase subprime securitisation .

2010年年中，SEC指控高盛未能告知投资者，一项名为Abacus的次级按揭证券产品所包括的债券已被对冲基金经理约翰•保尔森选定，并计划进行反向下注。

In mid-2010 , the SEC sued Goldman for failing to tell investors that bonds included in a subprime mortgage security called abacus had been selected by hedge fund manager John Paulson , who planned to bet against the offering .

对高杠杆运作的金融机构当时正持有有害的美国次级按揭证券化产品的披露，使市场参与者备受震惊。

The disclosure that highly leveraged financial institutions were holding toxic securitised American subprime mortgages shocked market participants .

许多评论家注意到，银行在资产负债表上持有次级贷证券中惊人的份额，而不是卖给其它公司。

Banks , as many commentators have noted , kept a surprising share of subprime securities on their balance-sheets rather than selling them on .

美国金融危机始于次贷危机，全面影响美国乃至世界金融业，其本质就是次级贷款证券化，其中道德风险影响重大。

American financial crisis began in subprime mortgage crisis which Influenced America and the world financial industry . The nature of subprime mortgage crisis is Subprime leading securitization .

美国司法部（TheDepartmentofJustice）正在对该公司就其在次级抵押贷款证券崩盘前仍给予这些证券最高评级一事展开调查。

The Department of justice is investigating the company for giving subprime mortgage securities top ratings just before they imploded .

如果不是它们评为AAA级的次级抵押贷款证券变得一文不值，政府本来没有必要出手纾困。

If all the subprime mortgage securities they rated triple A had not turned to junk , no bail-outs would have been required .

2007年8月9日，当法国巴黎银行（BNPParibas）披露其在美国次级抵押贷款证券方面出现未曾预料到的巨额损失时，严重动摇了这种信任。

That trust was badly shaken on August 9 2007 when BNP Paribas revealed large unanticipated losses on US subprime securities .

瑞士再保险（swissre）昨日公布，该集团在以波动性著称的再保险行业中取得更可持续和可预测利润的努力取得了进展，并表示自己没有受到次级抵押贷款证券危机的影响。

Swiss Re yesterday reported progress in moving to more sustainable and predictable profits in its notoriously volatile industry , and said it had been unaffected by the crisis in the subprime mortgage securities .

近几周来，评级最高的次级抵押贷款证券和债务担保债券（CDO）价格进一步大幅下挫，华尔街银行的亏损主要源自于这两类证券。

In recent weeks there have been further large price declines for the most highly rated subprime mortgage securities and collateralised debt obligations , which account for the bulk of the losses sustained by Wall Street banks .

由于仍对过去数次危机中高风险借贷上的损失心有余悸，拉美银行在此次危机中避开了问题次级抵押贷款证券。

Burned by risky lending in past crises , the banks had shunned toxic subprime-mortgage securities .

从绝对规模上看，与股票等其它资产类别相比，次级抵押贷款证券的规模相形见绌。

On sheer size , subprime securities are dwarfed by other asset classes , such as equities .

同时，在次级抵押贷款证券上的损失正促使投资者出售其它资产，比如与企业贷款相关的证券，甚至是股票。

Meanwhile , losses on subprime securities are forcing investors to sell other assets , such as securities linked to corporate loans , or even equities .

中国的银行类股昨天大幅下挫，因为市场推断这些银行将对其持有的美国次级抵押贷款证券进行更大规模的冲减，其规模将超出先前预期。

Chinese banking stocks were hurt yesterday by speculation they will have to make much larger write-downs on their holdings of US subprime mortgage securities than originally thought .

他们发明了各种新的金融产品（包括卖空股票和货币、次级贷款、证券化、通过对冲基金进行的杠杆化投资），表面上延续了增长和繁荣。

Inventing new financial products such as short selling of shares and currencies , subprime lending , securitisation , leveraged investments through hedge funds and a multitude of others , they apparently continued to grow and prosper .

诉状称，就在2007年次贷泡沫破裂之前，该银行与对冲基金经理约翰保尔森（johnpaulson）合作，营销某些次级抵押贷款相关证券。

It alleges that just before the subprime bubble burst in 2007 , the bank worked with a hedge fund manager , John Paulson , to market certain subprime mortgage-related securities .

庞大的美国次级抵押贷款担保证券市场昨日陷入动荡，因为贷款人出售从贝尔斯登（BearStearns）旗下两家对冲基金查扣的资产，价值逾10亿美元。这两家对冲基金在次级抵押贷款方面损失惨重。

The giant market for securities backed by US subprime mortgages was thrown into turmoil yesterday as lenders sold more than $ 1bn of assets seized from two Bear Stearns hedge funds that suffered heavy losses on subprime bets .

中国第二大银行中国银行（BoC）昨日对投资者表示，该行持有近100亿美元美国次级抵押贷款担保证券，金额位居亚洲各银行之首。

Bank of China , the country 's second biggest lender , told investors yesterday that it held nearly $ 10bn of securities backed by US subprime mortgages , the most of any bank in Asia .