NO.PZ2020042003000017
问题如下：
Which of the following statements about the“Economic Function of Markets for Collateral” is NOT correct?
选项：
A.
When using High-quality bonds as collaterals,the haircut and the fee charged are relatively low, thus this createsadditional demand for these high-quality bonds.
B.
Collateral markets bringowners of securities (e.g., institutional investors and insurance companies)into the financing markets, and they can earn extra return by lending theirsecurities.
C.
In the collateral market,cash is not the asset to be borrowed and lent.
D.
The collateral market creates the ability toestablish leveraged long and short positions in securities.
解释：
考点：对Economics of The Collateral Market的理解
答案：C选项描述错误，本题选C。
解析：
C选项描述错误。在Collateralmarket中，Cash也可能是目标资产。
将C选项改为正确的表述为：Incollateral markets, cash is just another—and not necessarily the primary— assetto be borrowed and lent, alongside securities of all types, hence the term“cash collateral.”
如果是债券出借之后，债券产生的利息是归哪一方的？
