在信贷紧缩之后，美国银行正寻求通过供应所持中国建设银行股份来筹筹资金，以强化其资产负债表。
Bank of America is seeking to raise capital to shore up its balance sheet in the wake of the credit crunch1 by selling shares in China Construction Bank.
知情人士称，这家美国银行正计划部分供应其所持建行9%股份，建行是中国第二大银行。不过，美国银行同时还将寻求行使其拥有些选择权，以远低于市场水平的价格买入更多建行股票。
The US bank is planning to sell part of its 9 per cent stake in Chinas second biggest bank, people familiar with the matter say. However, at the same time, it is seeking to exercise options it holds to buy more shares in the bank at levels that are now well below market rates.
这种两面出击的做法旨在调和美国银行两方面的需要：一方面抵消减记对其糟糕的资产负债情况的影响，但又不抛出太多股份，以维持与建行之间的友好关系。
The two-pronged action is aimed at reconciling BofAs need to offset2 write-downs on its bloodied3 balance sheet while still preserving cordial relations with CCB by not selling too many shares.
一位熟悉美国银行思路的人士表示：他们是在告诉投资者，桌面上有不少钱，他们计划拿走一些。
They are telling investors5 that there is a lot of money on the table and they would like to take some off, said a person familiar with the thinking at BofA.
在此之际，美国银行正就供应旗下大宗经纪业务与法国巴黎银行展开深入谈判，该项业务服务于对冲基金。
The move comes as the US bank holds advanced talks to sell its prime brokerage operation that services hedge funds to BNP Paribas.
美国银行所持建行股份意味着，该银行坐拥数十亿USD的未兑现收益。尽管建行股价与中国股市同步下跌大盘较去年十月份的高点下跌46%但仍远高于该银行2005年上市时的水平。建行现在的市值约为1770亿USD。
BofA is sitting on unrealised gains on its holdings that are worth billions. While CCBs share price has slid in line with the Chinese stock market 46 per cent below its October peak the share price is still far higher than the level at which CCB listed in 2005. It has a market capitalisation of about $177bn.
假如美国银行只不过将现有持股在市场上抛售，将加强建行股价所面临的下行重压，建行只有少部分股份上市。
If BofA just dumped its existing holdings on to the market, that would put increased downward pressure on the share price of CCB, which has only a small float.
美国银行仍在考虑买入新股的确切比率，不过该银行不太可能通过行使选择权，将它持股比率提升到19%。
The US bank is still considering the exact percentage of new shares it would buy, though it is unlikely to exercise its right to increase its holdings to 19 per cent.
同样，美国银行仍未决定是不是在公开市场上供应建行股票，或是将它整批供应给一家策略投资者，抑或将这类股份再卖回给中国政府。
It also has not yet determined6 if it would sell its shares into the open market, or sell its block to a strategic investor4 or even sell its shares back to the government.
中国监管机构和建行本身可能需要首肯任何策略售股。
Regulators, as well as CCB itself, is likely to have to sign off on any strategic sale.
美国银行和建行之间的协议规定，美国银行将持股到今天年十月份。美国银行和建行方面的管理人士都表示彼此关系十分好。
The terms of the agreement struck between BofA and CCB oblige the US bank to hold its shares until October. Both BofA and CCB officials speak warmly of the relationship.
