This may involve higher margin payments or a bigger "haircut" shaved off the value of assets pledged as collateral.

这会包括较高保证金，或是在抵押品打折时“大砍一刀”。

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In Europe many funds found that the assets they pledged as collateral in return for financing from Lehman have become trapped in the bankruptcy process as administrators strain to work out which assets genuinely belong to clients.

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Also, there are reports that officials have pledged non-transferable assets as collateral, like protected forests.

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Kingfisher owner Vijay Mallya is struggling to keep the airline afloat and has pledged personal and UB Group assets as collateral against the loans.

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