Worse, as we saw in the financial crisis, if many financial institutions have many such contracts, a rumor of insolvency can induce all of one institution’s derivative counterparties to demand collateral or payment simultaneously, triggering a run that resembles a classic bank run, which could then spread to other firms.
更糟糕的是，我们看到，当发生金融危机时，如果许多金融机构持有了太多的合约，一条破产传闻就能让某家机构的衍生品交易对手一窝蜂地要求增加抵押品或立刻赔付，从而触发类似于经典银行挤兑的挤兑，接着，挤兑会蔓延到其他公司。