The result is that Treasury bills, in particular, play a vital role in the system as cashequivalents and as collateral for short-term loans and derivative contracts.
这样的结果是,尤其是,国库券作为现金等价物和作为短期贷款和衍生品合同作的担保物在这个系统里起了一个至关重要的作用。
Treasury bills are seen as risk-free in this context in that they are instantly and universallyacceptable to all participants in the system.
国库券因为它们对这个系统里所有参与者迅速和广泛的接受而在这个环境里被看为是无风险的。
They are the oil that lubricates the global machinery of finance.
他们是润滑全球金融机器的油。
That was the real risk of the latest stand-off: not that America would not pay its bills, which itcould easily afford to, but that the system would grind to a halt.
这个才是最新平衡的真正风险:不是美国不付它自己很容易支付的账,而是这个系统会慢慢停滞下来。
词语解释
1.pay off 付清
Pay off your credit cards every month.
记得每月还清你的信用卡。
Pay off all consumer debt before you start payingdown the house.
在你开始分期还款前,先还清你所有的消费债务。
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