私营部门贷款

实际上，自1950年以来，在经济复苏的第一年里，美国私营部门贷款（不包括抵押贷款）占GDP的比例平均下滑0.1%，非金融企业贷款所占比例下滑0.6%。

Indeed , since 1950 , US private sector borrowing ex-mortgages has declined an average 0.1 per cent of GDP in the first year of recovery , with non-financial business borrowing declining 0.6 per cent of GDP .

不过，私营部门贷款的增长从未在复苏过程中发挥重要作用。

Yet increases in private leverage never play a significant role in recoveries .

同意关于私营部门贷款和投资决策的一般廉洁审核原则；

Agreement on general integrity due diligence principles relating to private sector lending and investment decisions ;

政府的贷款担保令日本航空的抵押资产得以释放，可用于向私营部门贷款。

Loan guarantees free up collateral that can be used to secure funds from private sector lenders .

这些美元积聚在中国央行手中，后者把它们投资于证券、美国国债和机构债券、以及其它看似安全的美元基金其中一些基金最终也是由可疑的私营部门贷款作为担保的。

The central bank accumulated those dollar holdings , which it invested in securities , Treasury and agency bonds , and other seemingly secure dollar funds , some of which were also ultimately secured by dodgy private-sector loans .

投向私营部门的银行贷款已经连续两个月下降。

Bank lending to the private sector has fallen for two months .

政府支持企业实体还购买了私营部门的抵押贷款。

GSE entities have acquired private-label mortgage bonds too .

讨论中尤其让人感兴趣的是，这项举措对于没有政府担保的“私营部门”抵押贷款证券化的影响这块信贷市场被认为对于住房市场的复苏至关重要。

Of particular interest is the impact on " private-label " securitisations of mortgages without government guarantees , a part of the credit market thought to be crucial for the revival of the housing market .

我认为，那些寻找下一次抵押贷款崩盘导火索的人，正在打上一场战争，冈拉克说，他对私营部门的抵押贷款将成为又一种次贷的观点不屑一顾。

I think people who are looking for the catalyst for the next mortgage meltdown are fighting the last war , says Mr Gundlach , dismissing the notion that private-label mortgages would be subprime by another name .

当以次贷形式借给美国私营部门的新贷款状况恶化，全球贸易失衡模式被证明是不可持续的。同样，与日俱增的财政赤字也无法维系长久的复苏。

Just as the pattern of global trade imbalances was proved unsustainable when new lending to the US private sector in the form of subprime mortgages turned sour , ever increasing public deficits cannot sustain a durable recovery .