| 透视CDO:类型、构造、评级与市场 |
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| 作者单位： | 中国社会科学院世界经济与政治研究所 |
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| 摘 要： | 担保债务权证(CDO)在美国次级债危机中扮演了至关重要的角色。本文试图对CDO产品和全球CDO市场作较为全面深入的介绍和评述。文章首先归纳了CDO的特征和类型,其次重点分析了两类最重要的CDO产品——现金型CDO和合成型CDO的构造,然后简单介绍了主要评级机构对CDO进行信用评级的方法。此外,文章回顾了全球CDO市场的发展现状,并归纳了CDO产生的历史意义,以及给金融市场带来的潜在风险。
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| 关 键 词： | CDO 现金型CDO 合成型CDO 信用评级 全球CDO市场 |
Insight into CDO: Types, Structures, Ratings and Market |
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| ZhangMing. Insight into CDO: Types, Structures, Ratings and Market[J]. Studies of International Finance, 2008, 0(6) |
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| Authors: | ZhangMing |
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| Abstract: | CDO has played a critical role in the U.S. sub-prime mortgage crisis. This essay tries to give a comprehensive introduction and some comment on the CDO products and global CDO market. Firstly, the characteristics and types of CDO are summarized. Secondly, the structures of cash CDO and synthetic CDO are analyzed in detail. Thirdly, the credit rating methods to CDO are introduced very briefly. Fourthly, the current development of global CDO market is reviewed. And finally, this essay discusses the advantages and risks of CDO. |
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| Keywords: | CDO Cash CDO Synthetic CDO Credit Rating Global CDO Market. |
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