Since it helps the bank control the risk, the bank should charge less service fee compared to the stock loans without the automatic termination clause. 因为自动终止条款有利于银行控制风险,与普通的股票抵押贷款相比较,银行将收取相对较少的服务费用。
The automatic termination clause actually is a stop order set by the bank. 自动终止条款实质上是银行的止损条款。
This paper works out fair values of stock loans with automatic termination clause. 本文给出了带自动终止条款的股票抵押贷款的定量分析。