They then loan many of those dollars back to the United States in exchange for all manner of American i. o. u. 's, including Treasury bonds, federal agency bonds, and private-sector debt.

然后，他们以出借的方式将这些美元交还美国，以换取各种各样的美国借据，包括美国的长期国库券、联邦机构发行的公债以及私营部门的债务（ private-sector debt ）。

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The Fed will exchange the Treasury notes for other securities, including federal agency debt, federal agency residential mortgage-backed securities and nonagency AAA-rated private-label residential mortgage-backed securities.

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Currently, bank-held federal-agency securities and debt amount to one-third of total bank capital a highly concentrated risk.

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In Washington, clamor grows for a new Federal agency to deal with bad bank debt.

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