How does a Securities Lender make money?

证券借贷方如何赚钱？

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More than $290 billion worth of mortgage securities were sold to Deutsche Bank, a German lender. Credit Suisse, a Swiss bank, got more than $287 billion in mortgage bonds.

价值290,0多亿美元的抵押证券卖给了德国的一家贷款银行-德意志银行，而一家瑞士银行-瑞士信贷也得到了287,0多亿美元的抵押债券。

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If the investor couldn't come up with the added margin, the lender was entitled to liquidate the securities and recoup the loan amount.

如果投资者拿不出追加保证金，贷款机构有权将证券平仓，收回贷款额。

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In other words, regulators intend to end the days when subprime mortgages were packaged as securities by the original lender and sold with no further recourse.

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Initially, it described collective investment vehicles, often organised as private partnerships, that specialised in combining two investment techniques, short sales (borrowing a security and selling it in the hope of being able to repurchase it more cheaply before repaying the lender) and leverage (buying securities with borrowed money) in a way that reduced risk.

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In fact, the lender had the ability to sell off the securities in ways that were unusual for garden-variety loans.

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