The liberal regime may not have beentoppled, but it is tottering.

自由化的制度也许还没有倒塌，还是它现在确实步履蹒跚。

The ECB, with its more liberal collateral regime, runs the second, milder sort of credit risk all the time-and it offers term lending for up to three months.

抵押政策更宽松的的欧洲央行，也一直运行着第二温和的一种信贷风险——它提供最多三个月的短期借贷。