Falling equity markets have caught hedge fund managers off-guard, leading to significant losses as portfolios declined in value and managers sold holdings, crystallising losses. 投资组合的价值下滑,基金经理们纷纷抛售所持资产,兑现了损失。
Two years of substantial writedowns by lenders makes them reluctant to take further pain and many are betting that a market recovery will boost underlying asset values and help avoid crystallising expenses. 两年的巨额减记,已使得银行不愿再遭受更多的痛苦,许多银行押注于市场复苏,希望这能提升标的资产价值,避免账面支出变成现实。
But in one sphere most of Europe has lagged behind: that of crystallising losses and recapitalising weaker institutions. 但有一个领域多数欧洲国家都落在了后面:那就是明确亏损状况和调整实力较弱机构的资本结构。