| 1. | As i argued earlier , interdependence is synonymous with the transmission of financial shocks , particularly financial contagion
正如我较早前提出，相互倚赖与金融震荡的传递，特别是金融连锁效应其实是同一意义。 |
| 2. | The regional financial shock hit the economy in the second half , with domestic demand dampened by higher interest rates and a sharp decline in asset prices
不过，下半年受到亚洲金融风暴的影响，本地需求因利率趋升，资产价格急挫而受到打击。 |
| 3. | To guard against and reduce the probability of systemic financial shocks , there is a need for more attention to risk management and monitoring and increased transparency
为了防范及减少发生系统性金融震荡的机会，大家需要加倍关注风险管理与监察，以及提高透明度。 |
| 4. | This puts further pressure on asset prices , which in turn triggers an evaporation of market liquidity and so on until , before we know it , we have a systemic financial shock on our hands
这些行动令资产价格进一步受压，减低市场流通性，以至情况急转直下，形成系统性金融震荡。 |
| 5. | Well , the financial shock has hit , with investors shunning whole swathes of the asset - backed market and nervous about all manner of financial wizardry at which america excelled
现在，金融震荡来过了，投资人回避形形色色资产抵押市场的产品，并对美国人擅长的那种金融魔术感到紧张。 |
| 6. | In consequence , we need to find ways of assessing how the pattern of financial shocks assumed in macroprudential surveillance might affect individual banks , and to factor that into our bank supervisory activities
因此我们需要找出方法，评估宏观审慎监察假设的金融冲击会如何影响个别银行，并将评估纳入银行监管工作内。 |
| 7. | But he gave warning : “ the same factors that may have reduced the probability of future systemic events , however , may amplify the damage caused by , and complicate the management of , very severe financial shocks
但是他也给出警告：同样的因素，虽然它们可能已经减少了未来系统事件发生的可能性，但是，同样也有可能加剧非常严重的金融冲击造成的损失，并使对金融冲击的管理复杂化。 |
| 8. | But we at the hkma will continue to try our best to make the most out of what is a set of very interesting but difficult statistics . this is essential to ensure that we are able to respond effectively to external financial shocks , and the financial system is able to cope with them
但金管局会继续竭尽所能，尽量利用这些难以诠释却极有意思的统计资料，原因是这样做对确保我们及金融体系能有效应付外来的金融冲击极为重要。 |
| 9. | Noting that systemic financial shocks can be very damaging to both the financial system and the real economy , he pointed out , quite rightly , that it is in everybodys interest to prevent their occurrence as far as possible and , if they do occur , to contain and limit their damage
主席指出，由于系统性金融震荡对金融体系以至实质经济都会造成极大损害，因此为了大众的利益着想，应尽可能防范这类事件发生，若真的发生的话，也应尽力加以控制，以减轻所造成的破坏。 |
