商业房屋抵押支持证券(CMBs),是欧洲证券化市场中一个重要的、不断成长的板块。然而,在许多情况下,即便是在同一个原贷款人所担保的不同证券之间,亦存在着极大的差异;也正是由于这些抵押资产的类型和结构特征上的差异,才使得欧洲的商业房屋抵押支持证券成为一种极富吸引力的资产类别。本文将将扼要地考察常见证券结构的一些关键特征。 Commercial mortgage backed securities (CMBs), an important and growing segment of the European securitization market. However, in many cases, there are significant differences even between the different securities guaranteed by the same original lender; it is also due to the differences in the type and structural characteristics of these mortgage assets that Europe Of commercial mortgage backed securities become an attractive asset class. This article will briefly examine some of the key features of common securities structures.