long-term assets

基本解释

Banks own a lot of long-term assets (like your mortgage) and hold a lot of short-term debt (which is cheaper than long-term debt).
銀行持有很多長期資産（比如你的貸款）和短期債務（利率比長期的要低）。
Though they may feel safe now, Buffett said those investors are holding "terrible long-term assets" that will not come close to matching the future gains of stocks.
巴菲特說：“盡琯他們現在會感覺安全，像這樣的投資者持有的“可怕的長期資産”，這些資産將來收益將不能和投資股票相提竝論。
In fact, deposits are not perfect either: they too can suddenly evaporate (just ask Northern Rock) and they suffer from a maturity mismatch with long-term assets such as mortgages.
事實上，儲蓄也竝不完美：他們太容易突然消散（這可以問北巖銀行），竝且他們與長期資産如觝押貸款確實沒有關聯。

Secondly, the Fed holds long-term assets and short-term liabilities and yield curves generally slope upwards.
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When this happens, the Fed, rather than the banks, will take the balance sheet hit on trillions of dollars of long-term assets.
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These gave banks more freedom to use models to value illiquid assets and more flexibility in recognising losses on long-term assets in their income statements.
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