And the intermediation process in both cases would no longer have liabilities, which have to be completely safe, completely liquid.

在这两种情况下， 中介过程将不再有负债，负债必须完全安全的， 完全流动的。

Over the weekend, our correspondents learned that FTX had less than $1bn in liquid assets and 9bn in liabilities.

周末，我们的解到， FTX 的流动资产不到 10 亿元， 负债不到 90 亿元。

Yes, the chin-strokey kind of liquidity experts who think that everything can be explained away by Fed operations and by Fed balance sheet, you know, that they're kind of sticking to their guns.

的，那些下巴紧张的流动性专家认为一切都可以通过联储的操作和联储的资产负债表来解释，你知道，他们有点坚持己见。

As part of efforts to tame inflation, the central bank last year began quantitative tightening, letting a fixed number of maturing bonds roll off its balance-sheet each month, removing liquidity from the banking system.

作为抑制通胀努力的一部分，央行去年开始实施量化紧缩，每月从资产负债表上滚出固定数量的到期债券，从而消除银行体系的流动性。