农行住房抵押贷款证券化的设计研究

Study on Mortgage-Backed Securitization of Agriculture Bank of China

随着我国住房体制改革的深化,住房抵押贷款的需求量持续增长,使得银行资产流动性压力上升。住房抵押贷款证券化(MBS)起源于美国并在美国蓬勃发展,由于其在解决银行信贷资产的流动性、降低银行风险、维持银行体系的稳定性等方面发挥了重要的作用,被称为近30年来世界金融领域最重大和发展最快的金融创新之一。本文首先从理论出发,阐述住房抵押贷款证券化的涵义;然后立足于中国农业银行,详细分析中国农业银行及住房贷款的发展情况,研究推行MBS的可行性和必要性,并对具体实施MBS业务运行机制的设计;最后就中国农业银行推行MBS业务中可能遇到的障碍提出政策建议。

With the reforms of our country housing finance system, the demand of mortgage loan keeps on growing and gives bank some property mobility pressure. The mortgage - backed securitization originated from the United States and is booming in the United States. With the unique functions, it has great advantages in financial market, such as making the assets and liabilities of financial institutions more fluid, the bank low risk. MBS is re- garded as one of the most important and the fastest developed financial innovations in the world financial field in recent 30 years. This article set out from the theories firstly, goes to the introduction of basic theory of MBS. Then based on Agricultural Bank of China, this article analyzes the development of Mortgage loan and the bank, and give the research of the necessity and feasibility development of MBS, designs the MBS which suits Agriculture Bank of China, Finally, this article puts forward some suggestion about Agriculture Bank of China promotion of MBS.