What they wanted to do starting in 2003 was to eliminate the idea that the discount rate is only for banks who are in trouble.

在2003年他们开始想做的事3,是消除,贴现率仅仅是为了那些处于困境的银行而设立的。

耶鲁公开课 - 金融市场课程节选

The discount rate is the rate that the Fed charges for loans to member banks.

贴现率是,美联储对会员银行贷款的所求比率。

耶鲁公开课 - 金融市场课程节选

Well, there's a formula that's been used by bond traders for hundreds of years and it's a traditional expression, which goes from the discount rate to the price.

这里有个债券交易商,用了上百年的公式,这是个传统表达式,它能用折扣率算得价格

耶鲁公开课 - 金融市场课程节选

So, the bid price is the--they don't do it in terms of price, they do it in terms of discount so the bid discount rate- there would be two numbers for each.

出价,往往不以报价的形式出现,而是以折扣率,出价的折扣率,有两个相关的数字

耶鲁公开课 - 金融市场课程节选

In '98, I forget which way, but one of the share classes 20% was at a 20% discount to the other and that persisted for several years, so you have economically identical things trading at different prices.

在98年，我不记得是为什么，一支这种类型的股票,比另一只股票便宜,而且这种现象持续了好几年的时间，因此你拥有经济意义上完全相同,但是却以不同价格进行交易的东西。

耶鲁公开课 - 金融市场课程节选