推进信贷资产证券化需进一步探索的几个问题

Credit asset securitization and related issues

当前，我国信贷资产证券化虽然仍处于试点阶段，但是推进力度正在加大。为在进一步加强风险防控的同时调动金融机构参与资产证券化活动的积极性，文章围绕“选择什么样的证券化基础资产”“发起机构应留多大比例的次级档资产支持证券”“怎样拓宽资产证券化产品的投资者范围”等现实问题展开深入探讨，就进一步推动资产证券化市场活跃发展、助力经济结构调整提出相关政策建议。

At present, the credit asset securitization in China is in a pilot phase, yet promotion efforts are stepping up. To further strengthen risk control and encourage financial institutions engaging in asset securitization activities, the article gives an in-depth analysis on issues such as how to select underlying assets for securitization, the ratio of subordinated asset- backed securities by sponsors and how to expand the scope of investors of asset securitization products. It then advises on further promoting the active development of the asset securitization market and supporting the economic structure adjustment.