1. 对银行来说,顶级抵押债权凭证的确有吸引力。
The super senior tranches did have some attractions for banks.

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2. 证券是一个分享利润的合同的债权凭证或权益证明。
A security is the evidence of indebtedness or certificate of interest in a profIt'sharing contract.

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3. 这样一来,顶级抵押债权凭证就变得无人问津,只得由银行自己持有。
That made it harder to find buyers for the super senior tranches and forced many banks to keep them on their own books instead.

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4. 银行出售次等抵押债权凭证而持有顶级抵押债权凭证,因此其风险敞口并不明显。
As the Banks offloaded the junior CDO tranches and kept the safer ones, the risks they were exposed to became less obvious.

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5. 包买票据是商业银行对出口商持有,并经银行担保的债权凭证无追索权购买的金融服务活动。
Package buying instruments are financial services activities held by commercial banks to exporters, and guar-anteed by banks of debt certificate of non-recourse buying.

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6. 担保债权凭证“是一种将有稳定收入流的固定资产组合,如住房抵押贷款打包而成的有价证券。”
"Collateralized Debt Obligations" are securities based upon a portfolio of fixed income-producing assets, such as home mortgages.

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7. 普通虚拟财产实质是一种债权凭证,而创造型虚拟财产则由创造该虚拟财产的用户享有著作权。
Ordinary virtual property is the document of credits and the creator should enjoy the copyright of creative virtual property.

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8. 许多银行不愿意持有风险较大、品级较次的抵押债权凭证,因为其自有的风险管理系统认为它们太过危险。
Many Banks got rid of the riskier and more junior CDO tranches, because their own risk-management systems designated them as too dangerous.

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9. 但随着评级机构在上个月一再降低了某些抵押债权凭证的级别,现在它们的价值已经跌倒初始价格的几分之一。
In some cases their values have shrunk to a sliver of their original price since a series of downgrades by rating agencies last month.

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10. 它们既可以保护投资者免遭支持抵押债权凭证的抵押贷款的初步损失,又可以提供比相同评级的债券更高的回报率。
They protected investors from initial losses on the mortgages backing the CDOs, while offering better returns than bonds with a similar rating.

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11. 如果你的模型告诉你某一债券比其回报率所暗示的安全性要高,比如担保债权凭证,那么你就得假设其中有隐藏的风险。
If your models tell you that a security is safer than its returns imply, as with CDOs, that might just suggest hidden risks.

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12. 本文从执行中止事由的纯化、执行观念的更新和债权凭证制度的构建等方面为建立新的执行中止制度提出了具体的设想。
This article puts forward the tentative plan in discontinuation of execution in the future such as the purification of particulars, the renewal of conception in execution and the construction of...

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13. 鲁宾和其他银行家应该顶住诱惑,全面而如实地向公众披露银行在抵押债权凭证、次级抵押贷款和其他缩水资产上的风险敞口。
The temptation for Mr Rubin and others will be to hold back from revealing the full extent of the Banks' exposures to CDOs, subprime mortgages and other wilting assets.

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14. 雪上加霜的是,债券保险人也在抵押债权凭证中泥足深陷,而它们还担当着为价值25000亿美元的美国市政债券市场进行评级的重任。
To make matters worse, bond insurers, which rate America's $2.5 trillion municipal-bond market, are also up to their necks in CDOs.

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15. 雪上加霜的是,债券保险人也在抵押债权凭证中泥足深陷,而它们还担当着为价值25000亿美元的美国市政债券市场进行评级的重任。
To make matters worse, bond insurers, which rate America's $2.5 trillion municipal-bond market, are also up to their necks in CDOs.

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