Many firms, especially those with weaker credit ratings, have simply been frozen out of the market for derivatives by Banks' reduced willingness to carry risk.

很多公司，特别是信用等级不高的，已经被不愿意承担更多的风险的银行拒之于衍生品市场之外。

youdao

As a result, the whole credit market has just frozen up and this is the problem the European governments are proposing to tackle.

NPR: Euopean Leaders Move Forward On Bailout

These securities lost much of their value in the credit crisis and the market has largely been frozen.

FORBES: Not All Cash Is Created Equal