翻译硕士考研者，在暑期阶段需要看双语阅读文章，来提升阅读水平和翻译能力。下面，北京文都考研网为助力翻译硕士学子们在备考上一臂之力，整理了MTI双语阅读精选文章:苏格拉皇家银行遭贱卖，供考生参考。
2020考研MTI双语阅读精选:苏格拉皇家银行遭贱卖
IF YOU are selling shares, they are worth not what you paid for them, but what someone else will offer. For the Royal Bank of Scotland (RBS), the sum that counts is £2.71 ($3.62). On June 5th UK Government Investments, which manages the state’s stakes in companies, said it had placed 7.7% of RBS at that price—10p below the previous day’s market close—with institutional buyers, reducing its holding to 62.4%. The government paid £5.02 per share to rescue the bank in 2008. So on those 925m shares, taxpayers have lost £2.1bn.
如果您想要出售股票，那么股票的价值不在于您花了多少钱买入，而取决于别人的出价。对苏格兰皇家银行(RBS)来说，这个价钱是每股2.71英镑(合3.62美元)。6月5日，管理政府手中的企业股份的英国政府投资公司称，已将持有的苏格兰皇家银行7.7 %股份以比前一天收盘价低10便士的价格出售给机构买家，持股比例降至62.4 %。2008年，政府为拯救苏格兰皇家银行，以每股5.02英镑的价格买入其股份。因此，在9.25亿股股票上，纳税人损失了21亿英镑。
The state has long looked unlikely to recoup its fivers, let alone the £6.25 per share that the National Audit Office, a public-finance watchdog, reckoned last year was a fair benchmark after adding the cost of financing the bail-out. (In 2015 it sold 630m shares, or 5.4% of RBS, for £3.30 a pop.) Even if the stockmarket valued RBS as highly as the book value of its assets—which is true of few big European banks—the price would still be only £4, a level it last saw more than three years ago. Short of cash and eager to return RBS to private hands, the government may as well take what it can. It sold its last shares in Lloyds Banking Group, also bailed out in the crisis, in 2017. On that rescue it made a small profit.长期以来，英国似乎不太可能以5英镑价钱收回的股票，更不用说以每股6.25英镑的价格——公共财政监管机构国家审计署( National Audit Office )认为，去年在增加纾困融资成本后，每股6.25英镑的价格是一个合理的基准线。( 2015年，它以每股3.30英镑的价格出售了6.3亿股股票，占苏格兰皇家银行5.4 %的股份。)即使股票市场将苏格兰皇家银行的估值等同于其资产的账面价值——欧洲几家大银行的情况也是如此——每股价格仍然只有4英镑，三年多来一直维持在这一水平。由于缺乏现金且急于将苏格兰皇家银行股份交还私人持有，政府不妨尽其所能。英国政府于2017年出售了在经济危机中救助斩劳埃德银行集团(Lloyds Banking Group)的最后的股票。在这次救助里，英国政府小赚了了一笔。
In the nine years after the crisis, RBS’s losses amounted to a staggering £58.4bn, as write-downs, fines and restructuring costs piled up. After the hubristic purchase in 2007 of ABN AMRO, a Dutch lender, which led to its undoing, RBS was briefly the world’s biggest bank, with assets of over £2trn. Now it is about a third of that size and ranks only tenth even in Europe. Its investment bank, which brought in more than a third of operating profit before the crisis, accounted for under a tenth of a far smaller sum in the first quarter of 2018.在金融危机爆发后的9年里，随着减记、罚款和重组成本的累积，苏格兰皇家银行的亏损达到惊人的584亿英镑。2007年，在经历荷兰银行( ABN AMRO )的傲慢收购后——这让它一事无成，苏格兰皇家银行一度成为世界上最大的银行，资产超过2万亿英镑。如今，该银行的规模只有之前的三分之一，在欧洲也仅排名第十。它旗下的投资银行在危机前带来了逾三分之一的营业利润，但在2018年第一季度却还不到十分之一。
Yet RBS is still one of Britain’s biggest banks—and underneath it all, these days is in fair shape. In the first quarter its return on equity was 9.3%, a bit short of the 10% that analysts still regard as par but decent by European standards. Its ratio of equity to risk-weighted assets, a key measure of capital strength, is a robust 16.4%. Last year it made its first net profit since its fall.然而，苏格兰皇家银行仍然是英国最大的银行之一——尽管面临种种困境，如今它的情况还算不错。今年第一季度的股本回报率为9.3 %，略低于分析师们仍认为的10 %，但按照欧洲标准，这一数字还算可观。作为衡量资本实力的一个关键指标，其股本与风险加权资产的比率为16.4 %。去年，该银行实现了自去年秋季以来的首次净利润。
The sale is another step in the bank’s slow emergence from the shadow of the crisis. Only last month did RBS say that it had agreed in principle with America’s Department of Justice to settle, for $4.9bn in cash, charges that it had mis-sold residential mortgage-backed securities between 2005 and 2007. It might have been worse: $3.5bn was covered by provisions RBS had already made. The settlement cleared the way for this week’s share sale.此次的出售是该行缓慢走出经济危机阴影的又一步。就在上个月，苏格兰皇家银行表示，原则上已与美国司法部达成协议，以49亿美元现金作为处罚金，为其在2005年至2007年间不当出售住房抵押贷款证券的指控实现和解。情况可能更加不容乐观：其中的35亿英磅是通过苏格兰皇家银行之前的拨备金支付。此番和解为本周出售股票扫清了道路。
Another legacy of the past is still to be cleared up. Last year, as part of the price of the bail-out, the government and the European Commission agreed on a scheme under which RBS will give up about 3% of the British market for small businesses, which it leads. The bank is putting up £425m to build up smaller banks’ capabilities, plus £350m for incentives to customers to switch banks. The bosses of the body that will divide the cash were appointed only in May. Financial crises cast long shadows. RBS isn’t in the sunshine yet.另一个遗留问题仍有待清理。去年，作为救助的一部分，英国政府和欧盟委员会就一项计划达成一致：苏格兰皇家银行将把英国3 %的市场份额让给小银行，而该银行在这个市场里处于领先地位。该银行将拿出4.25亿英镑来增强比其实力弱的银行的能力，另外还拿出3.5亿英镑来鼓励客户更换至其它银行。分配这笔资金现金的机构负责人将于五月份任命。金融危机投下了长长的阴影。苏格兰皇家银行尚未迎来曙光。
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