不良资产证券化运作的障碍及对策

The Obstacles and Countermeasures in the Running of Non-performing Assets Backed Securitization

资产证券化作为一种市场化的融资工具,在许多国家已经有了成功运作的经验。运用这一手段处置金融不良资产可以降低资产处置成本,提高资产回收率,防范和化解金融风险。然而,目前在我国的经济和法律环境下开展不良资产证券化业务还存在一些障碍。

As a financing instrument in market economy, securitization runs successfully in many countries. It can not only reduce the disposal cost of non-performing assets, but also enhance the cash-asset ratio and take precautions against financial risks. Unfortunately, in the actual economic and legal environment in China, there still exist some obstacles in the running of the non-performing asset backed securitization. This paper analyzes all these obstacles one by one and presents some ways of disposing of the non-performing assets by securitization.