本文關(guān)鍵詞：美國住房抵押貸款證券化及其對中國的啟示　出處：《首都經(jīng)濟貿(mào)易大學》2012年碩士論文　論文類型：學位論文

  更多相關(guān)文章： 住房抵押貸款資產(chǎn)證券化 次貸危機 風險防范 政策建議

【摘要】：住房抵押貸款證券化起源于20世紀70年代的美國，可以提高銀行的流動性，轉(zhuǎn)移信貸風險，解決商業(yè)銀行資產(chǎn)負債期限不匹配、資本金緊張等問題，同時能夠擴大金融市場融資功能，提高金融市場效率。本文首先分析了美國住房抵押貸款證券化特點以及次貸危機的成因，總結(jié)了相關(guān)經(jīng)驗和教訓。隨后，通過對我國住房抵押貸款證券化發(fā)展現(xiàn)狀、可行性分析以及對已發(fā)行產(chǎn)品的比較分析，筆者認為，我國具備穩(wěn)步推進住房抵押貸款證券化建設的必要性和可行性。筆者建議：一要完善住房抵押貸款證券化的法律體系及配套的會計、稅收制度；二要防范基礎資產(chǎn)信用風險，，規(guī)范住房貸款審批流程，建立房地產(chǎn)市場預警體系并完善個人信用體系；三要建立合理的信用評級體系，規(guī)范信用評級機構(gòu)；四要完善資本市場，擴大機構(gòu)投資者范圍；五要完善住房抵押貸款證券化的風險監(jiān)管體系，建立監(jiān)管機構(gòu)間的協(xié)調(diào)機制，注重防范系統(tǒng)性風險，避免出現(xiàn)“監(jiān)管真空”；六要完善現(xiàn)有的SPV設立機制，發(fā)揮政府推動作用，探索多種形式的SPV。
[Abstract]:Mortgage-backed securitization originated in 1970s in the United States, which can improve the liquidity of banks, transfer credit risk, solve the maturities mismatch of assets and liabilities of commercial banks, capital shortage and so on. At the same time, it can expand the financing function of the financial market and improve the efficiency of the financial market. Firstly, this paper analyzes the characteristics of mortgage securitization and the causes of the subprime mortgage crisis in the United States, summarizes the relevant experience and lessons. Through the development of mortgage securitization in China, feasibility analysis and the comparative analysis of issued products, the author thinks. It is necessary and feasible to advance the construction of mortgage securitization in our country steadily. The author suggests that: first, perfect the legal system of housing mortgage securitization and the supporting accounting and taxation system; Second, we should guard against the credit risk of basic assets, standardize the examination and approval process of housing loans, establish the real estate market early warning system and perfect the personal credit system; Third, establish a reasonable credit rating system and standardize the credit rating agencies; Fourth, to improve the capital market and expand the scope of institutional investors; Fifth, we should perfect the risk supervision system of housing mortgage securitization, set up the coordination mechanism among the supervision agencies, pay attention to prevent systematic risk, avoid the "supervision vacuum"; Sixth, it is necessary to improve the existing SPV establishment mechanism, give full play to the role of the government, and explore various forms of SPV.
【學位授予單位】：首都經(jīng)濟貿(mào)易大學
【學位級別】：碩士
【學位授予年份】：2012
【分類號】：F832.51

【引證文獻】

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