词汇 | illiquid |
释义 | illiquid adjective FINANCEuk /ɪˈlɪkwɪd/us used to describe an asset that is not easy to sell and exchange for cash: Her investment is illiquid: it would take time to sell the properties in order to raise cash and release capital. Compare liquid illiquiditynoun[ U ] The illiquidity of these securities may negatively affect our ability to sell them. Examples of illiquidilliquid A banking crisis occurs when a large number of banks fails to meet regulatory capital requirements, is illiquid, or is insolvent. This induces only the illiquid banks to report truthfully their liquidity shortages for monitoring purposes. Further, it engages in discount-window loans to illiquid banks at penalty rate. A large fraction of total wealth for most households is in the form of housing, a relatively illiquid and indivisible type of investment, with unique risk and tax characteristics. As a result, the banking system is relatively illiquid, and there are recurrent crises in which bank reserves are exhausted and agents in need of liquidity suffer losses in consumption. Thus, for a given aggregate state of the model economy, a central bank in this model can perfectly predict the fractions of "liquid" and "illiquid" banks. Assets in the 401(k) earn a higher after-tax rate of return, but they are substantially illiquid due to the restrictions and penalties on pre-retirement withdrawals. For instance, the model neglects housing, which is not only an important source of savings for many households, but also is a very illiquid and risky asset. Further, it engages in discountwindow loans to illiquid banks at a penalty rate, where the discount margin covers exactly the monitoring cost incurred by the central bank. For instance, inefficient bank runs can occur because of the multiplicity of equilibria that arises from short-term liquid bank deposits that are backed by long-term illiquid bank loans. For example, an unforeseen increase in pension obligations would leave it illiquid and unable to meet its day-to-day obligations. From the Hansard archive Example from the Hansard archive. Contains Parliamentary information licensed under the Open Parliament Licence v3.0 If we can get the right result of the illiquid assets test, we may be nearly there on the capital requirement that we seek. From the Hansard archive Example from the Hansard archive. Contains Parliamentary information licensed under the Open Parliament Licence v3.0 As a result, the banks were illiquid and interest rates threatened to rise. From the Hansard archive Example from the Hansard archive. Contains Parliamentary information licensed under the Open Parliament Licence v3.0 In our consultation document, we set out a number of areas in which we think that illiquid assets are too stringently defined. From the Hansard archive Example from the Hansard archive. Contains Parliamentary information licensed under the Open Parliament Licence v3.0 The difficulty arises from the illiquid nature of our assets and the liquid nature of many of our liabilities, and there is a disproportion. From the Hansard archive Example from the Hansard archive. Contains Parliamentary information licensed under the Open Parliament Licence v3.0 See all examples of illiquid These examples are from corpora and from sources on the web. Any opinions in the examples do not represent the opinion of the Cambridge Dictionary editors or of Cambridge University Press or its licensors. |
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