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在20世纪70年代以来,金融创新受到了全球金融机构的追捧,各种各样的金融创新工具不断的产生,其中资产证券化以其独特的功能、巧妙的构思得到了金融机构的喜爱,一度被认为是20世纪最伟大的金融创新,为世界经济的发展做出了巨大的贡献。但美国次贷危机的爆发对全球经济产生不小的影响,资产证券化被视作是次贷危机的罪魁祸首,也引发了人们的重新审视和反思。我国从2005年开展了资产证券化的试点工作以来,不断的促进资产证券化的发展。我国商业银行在面对外资银行的加入和我国金融的逐渐开放,也开始利用资产证券化来增强竞争力。但我国资产证券化起步比较晚,发展还不够成熟,风险较大。本文通过介绍我国商业银行信贷资产证券化的历程,并结合我国资产证券化的现状进行分析,指出资产证券化发展遇到的问题,并提出促进资产证券化发展的建议。
Since the 1970s, financial innovation has been sought after by global financial institutions. A variety of financial innovation tools have been constantly produced. Asset securitization has been favored by financial institutions for its unique functions and clever ideas. Is considered to be the greatest financial innovation in the 20th century and has made tremendous contributions to the development of world economy. However, the outbreak of the subprime mortgage crisis in the United States has had a significant impact on the global economy. Asset-backed securitization is regarded as the culprit of the subprime mortgage crisis and it has also caused people’s re-examination and reflection. Since 2005, China has carried out pilot projects of asset securitization and has continuously promoted the development of asset securitization. In the face of the accession of foreign banks and the gradual opening up of China’s finance, China’s commercial banks have also started to use asset securitization to enhance their competitiveness. However, China’s asset securitization started relatively late, the development is not mature enough, the risk is large. By introducing the course of the securitization of credit assets of commercial banks in our country and combining with the status quo of asset securitization in our country, this article points out the problems encountered in the development of asset securitizations and puts forward some suggestions to promote the development of asset securitization.