求论文摘要和关键词的英文翻译

Question

CDO与CDS在次贷危机中的作用
及其风险传播路径
摘要
美国源于次贷支持证券的金融危机是百年一遇的危机，衍生金融产品在次贷危机中起着推澜助波的作用，而衍生金融产品中的担保债务权证（CDO）在美国次级贷危机中扮演了至关重要的角色。本文首先探讨了次贷衍生品的结构和这种结构背后所隐藏的风险，描述了金融衍生品的风险传播路径，探讨了CDO产品是如何从借贷市场传导到资本市场，经资本市场放大后又从资本市场传回借贷市场的；其次解析了CDO、CDS产品的特点来解读在次贷危机中所起的作用，最后以AIG危机为例分析了CDO与CDS对金融公司的危害并总结了此次次贷危机对就发展我国金融衍生产品市场的启示。

关键词：CDO，CDS，雷曼兄弟，次贷

Answer 1

CDO and CDS US stem from the loan support negotiable securities in loan crisis's role and risk path of propagation

abstract the the financial crisis are the crisis which as soon as hundred years meet, the derivation finance product play in the loan crisis are pushing the billows to help the wave the function, but grew in the financial product the guarantee debt power card (CDO) to play the very important role in the American secondary loan crisis. This article has first discussed the risk which behind the loan derivation's structure and this kind of structure hides, described the financial derivation risk path of propagation, how has discussed the CDO product is from to lend money the market to conduct to the capital market, enlarges after the capital market feeds from the capital market lends money the market; Next analyzed CDO, the CDS product characteristic to explain the role which played in the loan crisis, finally has analyzed CDO and CDS take the AIG crisis as the example and summarizes this loan crisis to Financial company's harm to develop our country finance derivative product market enlightenment.

key word: CDO, CDS, Brother Leiman, loan

Answer 2

CDO and CDS in the subprime crisis And the risk of transmission path the American subprime mortgage backed securities from the financial crisis is big crisis, derivatives in the subprime crisis in lanshi surge pushed the role, and the derivatives of debt guaranteed CDO (warrants in the U.S. subprime crisis plays a vital role. This paper discusses the subprime derivatives of the structure and the structure of the risk of hidden behind, describes the risk of financial derivatives, and probes into the paths CDO spread from lending to market products is transmitted to the capital market, capital market, capital market and enlarge returned from the credit markets, Secondly the CDO, CDS product features to interpret the subprime crisis, and finally the role of with AIG crisis is analyzed with CDS for financial company CDO are summarized and the harm of the subprime crisis on the development of China's financial derivatives markets.