查询词典 securitize

For the U.S., we will highlight two programs: the low income housing tax credit program, which uses the tax code as an incentive, and the capital fund financing program, that allows public housing authorities to securitize an ongoing stream of funds and use this to modernize properties.

对美国案例的探讨，我们关注两个计划：运用税法作为激励措施的低收入住房返税计划，以及容许公共住房机构将资金流证券化，以此更新住房的投资基金融资计划。

In Chapter 2, basing on the overview of the available literature, I sift the extant explanatory theories and empirical evidences for bank to securitize, and divide the motivations of asset securitization into seven reasons: increasing liquidity, regulatory capital arbitrage, saving funding cost, bank risk management, improving management efficiency, resolving information asymmetries, optimizing capital structure.

在第2章中，基于相关文献的综述，本文对资产证券化已有的解释理论和经验结果进行全面梳理，将银行资产证券化的直接动因归纳整理成七种：增加流动性动因、监管资本套利动因、降低融资成本动因、银行风险管理动因、改善管理效率动因、解决信息不对称动因和优化资本结构动因。

In 2003, Berkshire did $2 billion of such borrowing and re-lending, with Clayton using much of this money to fund several large purchases of portfolios from lenders exiting the business. A portion of our loans to Clayton also provided "catch-up" funding for paper it had generated earlier in the year from its own operation and had found difficult to securitize.

2003年，Berkshire以这样的方式借了20亿美元，并将这笔钱转借给Clayton，Clayton则将大部分的资金从有意退出此业务的金主手中买回应收帐款，其余的资金则用来弥补年前已发行的受益凭证，但由于后续无法继续发行所产生的资金缺口。

He spoke enthusiastically about supporting a legislative proposal to allow government-sponsored enterprises Fannie Mae and Freddie Mac to securitize more expensive mortgages to spread their liquidity function into a different part of the market, but signaled that the administration would condition its support on broader regulatory reform of the companies.

他强烈表示支持一项立法议案，该议案允许政府扶持的企业联邦国民抵押贷款协会(Fannie Mae，简称：房利美)和联邦住房贷款抵押公司将利率更高的抵押贷款打包成证券，将其流动性职能扩展到市场的其他部分，但是鲍尔森同时指出政府的支持将视这两家公司是否做出更广泛的监管改革而定。

REITs connects the market of real estate and stock, so the investors no longer need to spend large capital justto participate in the real estate market. Through securitize to detail to investment, and sell in public to decentralize the package. As well the benefit will be to vitalize the real estate market and their capital.

REITs结合不动产市场与股票市场，投资者不再需要以巨额资金才能参与不动产市场，透过证券化的方式将投资金额细小化，并可於公开市场上灵活买卖，以达分散投资组合效果；亦活络不动产市场，让不动产业者可活化资产取得资金。

Special Purpose Companies can issue different class securities to investors without injuring its tax treatment and can securitize the basic assets of an originator or one batch of originators without considering whether these assets are related with each other.

实现破产隔离的最主要手段就是风险隔离机制，特殊目的载体本身在构造时要通过诸如限定经营范围和债务、赋予独立董事以特殊职能、处理好与发起人之间的关系等来实现远离破产；为了使特殊目的载体尽可能免受发起人破产的影响，发起人和特殊目的载体之间的资产转移必须采用真实出售的形式。

The Group's aim is wherever possible to securitize its property, internationalize its capital, and widen the range of its shareholders, with the goal of becoming an internationally competitive major conglomerate with maximal corporate and social value.

截至2005年底，公司总资产达605亿元，总体实力持续提升。目前，新华人寿保险公司在全国拥有34家省级分公司，166家地市级中心支公司，779家营销服务部，内外勤员工近14万人。

For example, Basel II only permits originating banks who securitize loans by way of a traditional securitization transaction, not to count those loans in its risk weighted exposures, if the sale of the mortgage loans to the SPV puts the loans completely beyond the bank's control (ie the transfer or the loans to the SPV must be by way of clean sale which cannot be set aside).

例如，《巴塞尔资本协定 II》规定，该等藉传统证券化交易来将贷款证券化的发起银行，只有在它们向「特定目的投资机构」出售按揭贷款，致使该等贷款是完全处於该些银行的控制范围以外时（即是转让予「特定目的投资机构」的贷款，必须是藉著不能搁置的clean sale 方式），它们才可以不将有关贷款列入其风险加权值之内。

We borrow money against portfolios of interest-bearing receivables whose risk characteristics we understand. We did this in 2001 when we guaranteed $5.6 billion of bank debt to take over, in partnership with Leucadia, a bankrupt Finova (which held a broad range of receivables). All of that debt has been repaid. More recently, we have borrowed to finance a widely-diversified, predictably-performing portfolio of manufactured-home receivables managed by Clayton. Alternatively, we could "securitize" that is, sell these receivables, but retain the servicing of them. If we followed this procedure, which is common in the industry, we would not show the debt that we do on our balance sheet, and we would also accelerate the earnings we report. In the end, however, we would earn less money. Were market variables to change so as to favor securitization, we could sell part of our portfolio and eliminate the related debt. Until then, we prefer better profits to better cosmetics.

2我们也会举债用来买进有利息收入且我们了解其风险属性的应收帐款，像我们在2001年就与 Leucadia 合作联合对当时破产的融资公司 Finova给予56亿美元的债务担保，目前该笔借款业已清偿完毕，而最近，我们也借钱给子公司 Clayton 房屋以协助其买进风险相当分散且容易预估绩效的房屋贷款债权，当然我们大可以像其它同业一样将这些债权证券化卖掉，只保留后续的服务部份，如此我们帐上不但可以降低负债比例，而且可以达到美化帐面的目的，但如此一来，我们却必须牺牲部份利润，除非市场真的转变，使得证券化较有利，我们才可能出售部份应收帐款以降低负债，在这之前，我们宁要里子不要面子。

Breath, muscle contraction of the buttocks; arch body, as far as possible to hold his head, right leg straight towards the ceiling (peg-leg knee in order to avoid muscle tension).

呼气，收缩臀部肌肉；拱起身体，尽量抬起头来，右腿伸直朝向天花板（膝微屈，以避免肌肉紧张）。

The cost of moving grain food products was unchanged from May, but year over year are up 8%.

粮食产品的运输费用与5月份相比没有变化，但却比去年同期高8％。