次贷危机与证券化

Subprime mortgage crisis and securitization

该文首先对次贷危机与资产证券化之间的关系进行了分析,认为次贷危机不是证券化的产物;其次分析了次贷危机对我国发展证券化的启示,认为我们不应该因噎废食,要正确把握创新金融工具的特点,在发挥其积极作用的同时,采取必要的风险防范措施,防止创新金融工具被误用甚至恶用;同时应严格把住基础产品的标准关,加强对证券化业务的监管;次贷危机不应影响我国证券化试点的继续推进。

By analyzing the relationship between the subprime mortgage crisis and securitization, this paper concludes that the subprime crisis is not of the crisis for developing secufitization in China. According to the author, China of the risk of a subprime crisis, Instead, China should give full play to innovative tools. Also, it must take necessary risk-warding measures to prevent innovative financial tools being misused or even abused. China should impose a strict standard on underlying products and strengthen supervision of securtzation. The subprime mortgage crisis should not become an obstacle for further advancement of China＇s pilot operation of securitization.