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40. however, the falling market liquidity in most of the member countries during 1998 and the first half of 1999 pushed up the market interest rates in these countries.
40. 不过,1998年和1999年上半年大多数成员国的市场流动资金减少,促使这些国家的市场利率上升。
in addition, abundant global market liquidity, combined with the positive economic and financial expectations prevailing for many of the countries in the region, facilitated relatively advantageous access to external financing.
此外,全球市场流动资金充裕,加上对该区域许多国家的经济和金融期望普遍看好,促进了相对有利的外部融资。
the complex structure of the asset-backed instruments and the lack of transparency with regard to the underlying assets made these instruments very difficult to price, especially when market liquidity dried up under stress.
这些以资产作为担保的工具结构复杂,支撑这些工具的资产透明度不足,对这些工具很难作出价值判断,特别是市场流动资金在压力之下干涸的时候。