Auctionrate notes gave municipalities, universities, museums and other issuers a vehicle to borrow long, but pay a shorter term interest rate.
当自治区、大学、博物馆等其他机构需要长期租借物品时，拍卖利率债券可以使你以短期利率支付利息。
2
To see the system at work, look at auction-rate securities, a sort of long-term debt invented in the 1980s.
要想知道该系统如何运作，只需看看拍卖利率证券即可，这是一种创造于上世纪80年代的长期债务。
3
This is a nexus of private-equity and hedge funds, money-market funds and auction-rate securities, non-banks such as GE Capital and new securities such as CDOs and credit-default swaps.