When a Danish mortgage bank grants a mortgage it is obliged to sell an equivalent bond with a maturity and cashflow that matches those of the underlying loan almost perfectly.

当丹麦银行批准一笔抵押贷款时，它必须同时出售等额的同期限的债券，以此来完全匹配该笔借款。

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“The universal bank is the regulatory equivalent of the super-senior mortgage-backed bond,” says one analyst.

有分析家称：“综合性银行就相当于受监管的、抵押业务支撑的超级债券。

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The bank is this weekend considering legal action against Goldman. The charges relate to a mortgage bond issued by the bank.

本周苏格兰皇家银行正考虑对高盛采取法律措施，所指控的内容涉及高盛销售的一种抵押债券。

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Adding to his credentials, he has already turned around a troubled institution (the exchange was reeling when he took over in 2004, after Richard Grasso was ousted because of his enormous pay packet) and he has bags of experience in the areas where Merrill is most deficient (he ran the mortgage-bond desk at Goldman Sachs before becoming the investment bank's chief operating officer).

ECONOMIST: Investment banking

Some young man in a bank lobby talked him into a dodgy bond fund that contained mortgage derivatives and lost money.

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