NO.PZ2023052301000008
问题如下：
Which of the following is a benefit to a bank that makes short-term loans and issues asset-backed commercial paper?
选项：
A.The bank receives commercial paper when the ABCP is issued.
Capital costs are reduced by providing undrawn backup liquidity instead of holding the short-term loans to maturity.
C.The bank purchases a liquid, short-term note with interest and principal payments from a short-term loan portfolio to which it would otherwise not have direct access.
解释：
B is correct. The bank will reduce capital costs by providing undrawn backup liquidity instead of holding the short-term loans to maturity. A is incorrect because the bank receives cash when the ABCP is issued, which increases the bank’s return. C is incorrect because investors purchase a liquid, short-term note with interest and principal payments from a short-term loan portfolio to which it would otherwise not have direct access.
C 选项后半部分的从句to which it would otherwise not have direct access. 是什么意思， 直接翻译是没有其他直接的途径。
为什么说投资者除了短期的ABCP就没有其他直接途径了呢， 短期的金融产品应该不少吧。
