| 美国资产支持证券市场结构与次按危机解析 |
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| 引用本文： | 杜刚,王伟.美国资产支持证券市场结构与次按危机解析[J].中国货币市场,2008(5):40-44. |
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| 作者姓名： | 杜刚 王伟 |
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| 作者单位： | 深圳发展银行总行 |
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| 摘 要： | 美国次按危机不仅给世界多家金融巨擎造成巨大损失，甚至险些在世界范围内酿成了一场全面的流动性危机。文章从信贷资产证券化发起机构、CDO发起流程、信用评级的制定及下调原理，流动性危机的成因这一逻辑顺序全面回顾了美国资产支持证券市场的运作机制以及次贷危机产生的根源，以期为深入研究次级债问题提供参考。
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| 关 键 词： | 美国资产支持证券 次按危机 CDO发起流程 |
US ABS market structure and subprime mortgage crisis |
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| Du Gang,Treasury.US ABS market structure and subprime mortgage crisis[J].China Money,2008(5):40-44. |
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| Authors: | Du Gang Treasury |
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| Institution: | Du Gang,Treasury Department,Shenzhen Development Bank(H.O) Wang Wei,General Manager,Treasury Dept,Shenzhen Development Bank (H.O) |
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| Abstract: | The US subprime mortgage crisis has not only caused huge losses to financial mega-businesses globally, it has also put the world on the verge of a comprehensive liquidity crisis. This paper reviews the operational mechanism of the US asset-backed securities (ABS) market according to a logical sequence: from the issuing institution of ABS, the initiating process of CDO, the rationale behind credit rating and adjustment, and causes for the liquidity crisis. Based on that, the author investigates the sources o... |
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| Keywords: | US asset-backed securities subprime mortgage crisis initiating process of CDO |
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