SIVs

Some investors with holdings of SIVs have recently come clean about their losses .

一些持有结构性投资工具的投资者最近公布了自己的损失。

SIVs issue cheap , short-term debt to fund investments in longer-term and higher-yielding securities .

结构性投资工具发行低价短期债券，以便为期限较长和收益较高的证券投资融资。

The problems of structured investment vehicles ( SIVs ) are a case in point .

结构投资工具的问题就是一个恰当的例子。

One central sin that bedevilled the SIVs was that banks often used them for regulatory arbitrage .

SIV身上的一大罪过是，银行经常利用它们进行监管套利。

But it may have had the reverse effect : investors started to shun almost all commercial paper issued by SIVs .

但它也许产生了相反的效果：投资者开始躲避结构性投资工具发行的几乎所有商业票据。

Rhineland asked IKB to provide a credit line , as the rules of SIVs require .

莱茵兰基金要求德国产业投资银行提供一个信贷额度，正像结构性投资工具规则所要求的。

That caused such shock that investors such as money market funds stopped purchasing notes issued by shadowy entities such as SIVs .

这造成了巨大的市场冲击，货币市场基金等投资者开始停止购买SIV等模糊实体发行的票据。

No investors are sure exactly what assets SIVs and conduits are holding , or how damaged those holdings might be .

没有哪个投资者完全清楚结构性投资工具和管道持有什么资产，或者持有这些资产的损失如何。

The gangrene of fear began to infect real banks , which investors realised were exposed to SIVs in unexpected ways .

恐慌的坏疽开始感染实体银行投资者意识到，实体银行以出乎意料的方式受到SIV的牵连。

The proposed superfund would buy assets from cash-strapped structured investment vehicles ( SIVs ) following the subprime mortgage crisis in the US .

美国银行拟议推出的这只超级基金，将收购美国次贷危机过后现金匮乏的结构性投资工具（SIV）的资产。

As a result , by mid-July some investors decided to stop buying ABCP paper from SIVs suspected of subprime exposure .

结果，到7月中旬，一些投资者决定停止购买涉嫌参与次级抵押贷款的结构性投资工具的资产支持商业票据。

In the case of a blip in the market , SIVs and conduits are supported by liquidity facilities from highly rated , mainstream banks .

在市场暂时出现问题的情况下，结构性投资工具和管道会受到高评级主流银行的流动性工具的支持。

Instead of being traded , most were sold to banks ' off-balance-sheet entities such as SIVs structured investment vehicles or simply left on the books .

但其中大部分并没有拿出来进行交易，而是出售给了结构性投资工具（SIV）等银行表外实体，或者干脆就放在账面上。

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 .

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。

The banks also faced waning interest from cash-strapped structured investment vehicles ( SIVs ) in selling assets to the fund , according to someone close to the plan .

据知情人士称，三大银行同时还面临的一个问题是，现金匮乏的结构性投资工具（SIV）对于将资产出售给这只基金也兴趣日减。

That , however , triggered additional alarm , as rumours spread about the potential losses at SIVs – on top of problems in other corners of the financial world .

然而，这引起了更多的惊慌，因为关于结构性投资工具潜在损失的谣言开始四处流传&超越了金融世界其它领域的问题。

This means banks must step in to provide finance if the SIV cannot raise commercial paper in the normal way , unless the SIVs ' assets suffer significant ratings downgrades .

这意味着，如果结构性投资工具不能通过正常途径为商业票据筹资，银行就必须介入提供融资，除非结构性投资工具的资产评级大幅降低。

Worse still , the investors that have raised their leverage – such as hedge funds and SIVs – typically operate partly outside the realm of the regulated banking system .

更糟糕的是，对冲基金和SIV等提高负债比例的投资者，通常都是一脚踏在受监管的银行体系领域之外进行运作。

The first stage was the collapse of the entire SIVs / conduits system once investors realised the toxicity of its investments and its very short-term funding seized up .

一旦投资者意识到其投资毒性及其超短期资金周转失灵，第一步就是整个结构投资工具和渠道体系的崩溃。

Standard Chartered , the emerging markets bank , and HSBC , the UK-listed bank , have also unveiled plans to take the assets of SIVs on to their books .

新兴市场银行渣打银行（standardchartered）与英国上市银行汇丰银行（hsbc）也公布计划，要把结构性投资工具的资产计入自己的账面。

The fund , which was to be managed by BlackRock , was proposed by the banks with the encouragement of the Treasury two months ago amid fears of possible fire sales by SIVs .

两个月前，由于市场担心结构性投资工具可能被迫折价抛售资产，在美国财政部的鼓励下，三大银行提议成立这只基金，并计划交由BlackRock管理。

And while it seems that European financial institutions were particular victims of this credit squeeze , the problems perhaps ironically were extreme in US markets , since SIVs typically raise a large proportion of their finance in dollars .

虽然欧洲金融机构在这次信贷紧缩中似乎受害最为严重，但也许有点讽刺的是，这些问题在美国市场表现得最为严峻，因为结构性投资工具的资金通常大部分都是美元形式筹集的。

For just as a garage or cellar is usually attached to a house but not truly inside a house entities such as SIVs and conduits have traditionally had a semi-detached status with banks .

正如车库或地窖通常附属于房屋但实际上并不在房屋内部一样，结构性投资工具（SIV）和管道（conduit）等实体传统上是半独立于银行的。

It is relatively easy , for example , to calculate the losses at so-called structured investment vehicles ( SIVs ) a breed of specialist fund because they are required to publish regular " net asset value " numbers .

举例来说，计算所谓结构性投资工具（siv）一种专业基金的损失相对容易一些，因为它们必须定期公布“资产净值”数据。

As it became apparent this summer that the US subprime problems were worsening and infecting a broader range of structured products , some investors in the ABCP market started to worry about whether SIVs were also sitting on losses .

美国次级抵押贷款问题恶化而且传染到更广泛结构性产品的现象，在今年夏季开始变得明显，为此，资产支持商业票据市场中的一些投资者开始担心，结构性投资工具是否也在遭受损失。

The hemagglutin ( HA ) genes of fifteen H1N1 subtype Swine Influenza Viruses ( SIVs ) which isolated from swine in south and northeast of China in 2001 , were sequenced and molecular evolutionarily analyzed in this study .

对2001年中国华南及东北地区的15株H1N1亚型猪流感病毒（SIV）分离株的血凝素（HA）基因进行了序列测定和分析，并绘制了进化树。

All kinds of off-balance-sheet lending and arbitrage platforms ( known as conduits and structured investment vehicles , or SIVs ) have been infected to the point that they are struggling to raise the short-term debt that keeps them afloat .

所有类型的资产负债表外贷款和套利平台[即管道类和结构性投资工具（SIV）]都受到牵连，它们难以获得维持自身运作的短期融资。

The move is likely to be disliked by some banks which have already started trading in distressed subprime securities in recent weeks at knockdown prices ? not least because there are already efforts under way among some private sector players to conduct restructurings of large structured investment vehicles ( SIVs ) .

一些银行最近已经开始按照极低的价格交易次级抵押贷款相关证券，它们可能不会欢迎这样的举措，主要原因是一些私人参与者已在采取有关努力，对大型结构性投资工具（SIVs）进行重组。