银行系统招聘考试英语（中国农业银行）模拟试卷7
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There’s been a steady drumbeat of warnings about a surge in risky corporate borrowing-but not much clarity about how serious the threat is． At issue is the more than $1 trillion market in leveraged loans．That’s Wall Street jargon for high-interest loans to business with less than rock-solid finances． Federal Reserve and European Central Bank officials have drawn attention to the rise in corporate debt and the deterioration of lending standards．The loans are often bundled into securities known as collateralized loan obligations(CLOs)． Most of the watchdogs are careful to say a repeat of the 2007～2008 crisis is unlikely because most of the debt isn’t held by banks． But that creates another problem： Regulatorns focused on banks are largely in the dark when it comes to pinpointing where the risks lie and how they might ripple through the financial system when the economy turns down． A big worry is that Over-indebted businesses could face severe stress and， in some cases， insolvency，threatening jobs and deepening the next downturn．
The mechanics of the leveraged loan market will be familiar to students of the housing crisis．With interest rates low，investors are willing to take greater risks to get higher yields．That makes lots of money available for lending， which in turn makes it easier for less creditworthy companies to borrow． Rather than keep the risky loans on their books，lenders often sell them to asset managers that package them into securities-CLOs-that are sold to investors such as insurers and hedge funds．
Yields on the riskiest portions of CLOs can approach 9％ a year． And the growth of leveraged lending has been boosted by post crisis bank regulations that helped the rise of shadow lenders-financial companies that aren’t regulated like banks．The market for leveraged loans has more than doubled since 2012．
The risk-taking could get worse： With demand by borrowers for leveraged loans declining this year．those still looking for financing have been able to extract looser terms．
About 85％of leveraged loans are held by nonbanks，according to Wells Fargo research．But banks may play a larger role than many assume，according to Gaurav Vasisht，director for financial regulation at the Volcker Alliance，a good—governance group．Banks are involved in all stages of the process：They underwrite loans，sell them to the CLOs，invest in those securities，and then hedge those risks in the market．“One common narrative is that banks don’t have much risk or aren’t exposed to it．”Vasisht said at the hearing．“Banks are exposed to it．”
“Just because banks are safer doesn’t necessarily mean the financial system is．”says Karen Petrou，managing partner at Federal Financial Analytics，a regulatory-analysis firm．Debt investors might not be as resilient in a crisis，and their problems could create shock waves．“Banking regulators are being a little myopic when they’re looking only at the banking system for systemic risk，”she says．一Sally Bakewell and Thomas Beardsworth
1.What is the main idea of this article? ________ (C)
A. The warnings of regulatorn
B. The flaws of banking regulation
C. The risks of corporate debts
D. Lessons learned from the financial crisis
E. 6
解析：主旨题。题干：这篇文章的主旨是什么?
通读全文可知，文章第一段主要介绍了leveraged loans(杠杆贷款)，第三句“That’s Wa
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