一、凭证式储蓄国债存在的问题 首先,由于凭证式国债债权的记录和管理分散在各承销机构的基层营业网点,没有统一的发行及债权托管系统,因此,客观上形成了投资人和承销机构,承销机构和财政部之间的双重债务关系。这种双重债务关系已成为产生凭证式国债发行及管理方式中深层次问题的重要原因。主要表现在以下几个方面: 1.超发风险。由于凭证式国债债 First, the issue of voucher-style savings bonds First of all, as the recording and management of voucher-type bonds are scattered in the grass-roots outlets of the underwriting agencies, there is no uniform issuance and claims hosting system, therefore, objectively formed an investor and underwriting agency , Underwriting agencies and the Ministry of Finance dual debt relationship. This dual debt relationship has become an important reason for the deep-seated problems in the issuance and management of voucher-type bonds. Mainly in the following areas: 1. Super risk. Due to the voucher treasury bonds