美国不良贷款证券化的动力:提高杠杆与对冲风险

The Forces of NPL Securitization in US

对不良贷款证券化而言,关键一步是将不良贷款证券化后的证券产品销售出去。但不良贷款具有较高的违约风险,如果不能触及市场的真正需求,那么所构造的证券化产品不会被市场认可,不良贷款证券化业务也会停滞不前。本文作者阐述了美国的不良资产证券化的动力,以期能对我国提升不良资产证券化专业水平,更好地控制金融杠杆风险提供参考。

Main driving force of US NPL securitization is securitized products with improved leverage and hedging risks.This article suggests mat we should improve the professional level of the individual participants,control the lever of financial institutions and ensure the orderly development of hedging transactions in the development of our non-performing loan securitization business.