双语新闻：银行违约保险价格跌至危机前水平

2014-06-24 11:49:47来源：可可英语

　　The cost of insuring against global bank defaults has plunged to its lowest level since the financial crisis in a sign that investors are willing to bet the industry has become safer.

　　防范全球银行违约的保险成本已迅速降至金融危机以来的最低水平，这表明投资者愿意押注在金融业已变得更安全。

　　Buyers of bank debt often purchase “credit default swaps,” a type of derivative that helps insure their investments against a default. The price they are paying for that protection is now the lowest since the collapse of Lehman Brothers in September 2008.

　　银行债券的买家往往会买入“信贷违约互换(CDS)”，这是一种有助于保障他们的投资不受违约影响的金融衍生品。目前，他们买入此类保护工具的价格正处于2008年9月雷曼兄弟(Lehman Brothers)倒闭以来的最低点。

　　“We’ve gone back to pre-crisis levels,” said Brian Monteleone, analyst at Barclays. “Capital is much higher today than it was pre-crisis. The economic environment is vastly improved. Regulations are in place today that didn’t exist five to 10 years ago that increase confidence that the ability of banks to get too levered is reduced.”

　　巴克莱银行(Barclays)分析师布赖恩•蒙泰莱奥内(Brian Monteleone)表示：“我们已重返危机前的水平。比起危机前，如今的资本要充裕得多。经济环境已大大改善。如今的监管制度在5到10年前还不存在。这些监管制度提高了人们的信心，令他们相信银行过度杠杆化的能力已经降低。”

　　The price paid for bank CDS is viewed as a gauge of a financial institution’s perceived riskiness. The premium paid for protection or “spread” widened sharply in 2008 and early 2009, indicating that investors were willing to pay more to insure against a default or to bet against the creditworthiness of a bank.

　　为银行CDS所支付的价格被视为衡量金融机构已知风险的一种手段。2008年和2009年初，此类保护机制的溢价(或者说“利差”)曾急剧扩大，这显示投资者愿意支付更多成本购买防范违约的保险，或者说他们愿意押注于银行的信誉崩溃。

　　Since then, regulators have launched wide-ranging efforts to reform the financial system, including requiring banks to raise more long-term capital and remove riskier assets from their balance sheets.

　　自那以来，监管机构已广泛采取措施改革金融体系，要求银行筹集更多长期资本，并从资产负债表中移除风险较高的资产。

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