One portion of a larger amount of money that is handed over or dealt with separately — the first tranche of a loan, a tranche of shares, a tranche of aid. The key idea is that the whole sum was deliberately cut into pieces and released piece by piece, usually over time or on conditions: the government pays the second tranche once the targets are met.

One portion一部分 of a larger amount of money從一大筆錢裡切出來的 that is handed over or dealt with separately是分開撥出或分開處理的: the first tranche of a loan比如一筆貸款的第一批, a tranche of shares一批股份, a tranche of aid或一批援助。The key idea重點是 is that the whole sum was deliberately cut into pieces整筆錢是刻意切成好幾份的 and released piece by piece然後一份一份釋出, usually over time or on conditions通常是分時間或看條件而定: the government pays the second tranche once the targets are met等到達成目標，政府才撥出第二批款項。

It comes from French for 'a slice', and English kept the French sound and spelling, which is why it feels formal. It lives in business news, banking, and government reports.

It comes from French for 'a slice'這個字來自法文，原意是「一片」, and而 English kept the French sound and spelling英文保留了法文的發音和拼法, which is why it feels formal這就是為什麼它聽起來很正式。It lives in它常出現在 business news, banking, and government reports商業新聞、銀行業和政府報告裡。

In finance it has a tighter meaning: when a big pool of loans is packaged and sold, the tranches are the layers with different levels of risk and return — the senior tranche gets paid first, the lowest tranche absorbs the losses first. That is the sense you met in the 2008 financial crisis coverage.

In finance在金融領域裡, it has a tighter meaning它的意思更精確一點: when a big pool of loans is packaged and sold當一大堆貸款被包裝起來賣出去時, the tranches are the layers with different levels of risk and returntranche指的就是風險和報酬程度不同的每一層 — the senior tranche gets paid first最優先的那一層最先拿到錢, the lowest tranche absorbs the losses first最底層的那一層最先承擔損失。you met in the 2008 financial crisis coverage你在2008年金融危機的報導裡看到的, That is the sense就是這個意思。

Journalists have also stretched it beyond money to mean any batch released in stages — a tranche of documents, a tranche of new members.

Journalists記者 have also stretched it beyond money也把這個字延伸到金錢以外 to mean any batch released in stages指任何分批釋出的一批東西 — a tranche of documents一批文件, a tranche of new members一批新成員。