对资产管理公司(AMC)不良资产证券化必要性的反思

The Consideration on the Necessity of Non-performing Asset Securitization for AMC

从界定资产证券化概念入手,深入分析要成功实施资产证券化必须满足的4个核心条件,作者从政策、法律、市场等多维度对我国资产管理公司能否通过资产证券化方式有效地处理从国有商业银行剥离出的不良资产问题进行概括和总结,并从资产证券化产生的内在原因出发,结合我国资产管理公司的现实情况,对不良资产证券化的必要性进行反思,认为资产管理公司没有必要运用资产证券化处置不良资产。

This article first defines the concept of asset securitization, and analyses the four core terms in implementing asset securitization successfully. From the dimensionalities such as policy, law, market and so on, the authors summarize the issue whether asset management corporation （AMC） can make use of asset securitization to deal with the non - performing asset separated form the state - owned commercial bank effectively. Meanwhile, base on the inherent reason of asset securitization, authors take some considerations about the necessity of non - performing asset securitization Combining the actual situation of AMC in China. It is considered that it is unnecessary for AMC to handle the non -performing asset through asset securitization.