That is because it may deplete its capital by selling assets at a loss or paying interest on reserves to prevent bond purchases from fuelling inflation.
Its decline in the past five years has imposed a huge capitallosson foreign-exchange reserves.
美元在过去5年的下跌导致了外汇储备的巨大损失。
3
If so, firms like Capital One could look forward to sharply higher earnings as lower defaults would allow lenders to ease off on the expense of building their loan-loss reserves.