论资产证券化中风险隔离机制的构建

尽管资产证券化的发展对企业的融资带来了便利,丰富了金融市场可供选择的金融工具,但是资产证券化也加剧了金融市场的风险,美国次级债风波就是验证.本文从理论上分析了资产证券化的风险隔离机制的基础,认为资产合格、SPV合格、真实销售、重组增值、管理牵制和持续的信息披露等构成六道防线,这对当前我国防范资产证券化中的风险具有启发意义.

Toward Risk Isolation Mechanism Construction of Asset Securitization

The securitization of assets increases financial market risks,though it brings convenience to corporate finance and alternative to financial tools.This article analyzes the basis of asset securitization isolation mechanism,holds that the six dimensions,i.e.qualified assets,SPV,true sales,value added restructuring,management,and sustainable information disclosure,have important meaning in preventing the risks associated with China asset securitization.