It requires all bonds to be underwritten by the state 's commercial banks and sets their price and issue date .
该机构要求所有债券由国家商业银行承销,并设定其价格和发售日期。
And these securities , in turn , became riskier , as credit rating agencies became increasingly willing to label as safe assets that were lower quality-including pools of securities backed only by poorly underwritten subprime and alt-a mortgages .
Indeed , economists say this nation 's decade of remarkable economic growth , led by exports and government investment in big projects like china 's high-speed rail network , has to a great extent been underwritten by the household savings - not the spending - of the country 's 1.3 billion people .