债券市场担保业素描

The Sketch of Guaranty Industry in the Bond Market

担保公司担保逐渐成为债券市场增信的重要手段,增信规模逐年增资。在分析担保公司的过程中,需注意其担保放大倍数、担保结构、风险准备金及担保代偿情况。通过静态和动态分析担保公司风险敞口,目前债保公司整体风险可控。

Guaranty companies have taken on an increasingly important role in credit enhancement related to the domestic bond market. When assessing the role of these companies, it is essential that we pay special attention to guaranty structure, guaranty compensation and risk reserves as well as the expanded guaranty amounts. Using static and dynamic analyses, the author comes to the conclusion that the current overall risk of debt guaranty companies is still controllable.