一、资产证券化基本介绍(一)背景情况证券化起源于美国住房按揭贷款二级市场,是20世纪70年代以来最重要的金融创新之一。受当时投资银行和共同基金的冲击,承担美国大部分住房按揭贷款业务的储蓄金融机构的储蓄资金被大量提取,导致流动性出现严重不足。为摆脱这一困境,美国政府决定启动并激活住房按揭贷款二级市场。 First, the basic introduction to asset securitization (a) Background Securitization originated in the United States secondary housing mortgage loans, is one of the most important financial innovations since the 1970s. Influenced by the then investment banks and mutual funds, the savings funds of the deposit-taking financial institutions that took over most of the housing mortgage loan business in the United States were largely withdrawn, resulting in a serious shortage of liquidity. To get out of this dilemma, the U.S. government decided to launch and activate the secondary market for home mortgage loans.