Yet post-financial-crisis rules make this cash pile a problem, not a victory.

然而，金融危机后的规则让这些现金成为了一个问题，而不是胜利。

As banks' cash piles shrank, they grew reluctant to lend to companies and other counterparties.

随着银行现金储备萎缩，他们越来越不愿意贷款给公司和其他交易对手。

So cash piles are actually shrinking even at the point when the banks want the money.

因此，即使在银行需要资金的时刻，现金储备其实也在减少。

Businesses across the rich world are still sitting on cash piles about a third higher than before the pandemic.

富裕国家的企业，其坐拥的资金仍比疫情前多出约三分之一。

Vast cash piles have been generated too.

巨额现金也已产生。

A liquidity run so bad that it drained even HSBC's cash pile could be harder for the HKMA to manage.

但极差的流动性甚至可能耗尽汇丰的现金储备，这会让HKMA更加难以应对。

At the start of 2020, private equity firms held $1.45tn in what they call " dry powder" , and what the rest of us call " cash" : piles of money sitting around awaiting investment. Just imagine what you could do with it.

2020年初，私人股本公司持有1.45万亿美元的“干粉”，以及我们其余人所称的“现金”：有成堆的闲置资金等待投资，想象一下你能用它来做什么。