特殊目的实体相关问题解答

问请您简单阐述一下资产支持证券化(Asset-backed Securities,ABS)交易中特殊目的实体(Special Purpose Vehicle,SPV)的种类,并介绍它们的主要区别。答根据分业监管的原则,银监会主管的资产证券化业务的SPV是特殊目的信托计划,主要在银行间债券市场发行资产支持证券;证监会主管的资产证券化业务的SPV是专项资产管理计划,主要在证券交易所发行资产支持证券;保监会对应的是资产支持计划,主要向保险机构等合格投资者发行受益凭证,是作为保险机构的投资工具推出的。

美国抵押贷款证券化市场结构及对我国的启示

美国是世界上最早开展住房抵押贷款证券化的国家。完善的监管体系和发达的债券市场为其住房抵押贷款证券化市场的发展提供了良好的基础。通过对美国住房抵押贷款证券化的市场主体分析,以期对我国住房抵押贷款证券化的组建及房地产业的有序发展提供一些有益的启示。

Effect of backing films on the transdermal delivery of cyclobenzaprine patch

The aim of this study was to investigate the effect of backing films on transdermal delivery of cyclobenzaprine patch. Different backing films were chosen to prepare the cyclobenzaprine transdermal patch. The cumulative amount of cyclobenzaprine released from different patches was evaluated in vitro. To investigate the interaction between cyclobenzaprine and backing films, the partitioning experiments and attenuated total reflectance Fourier transform infrared(ATR-FTIR) spectroscopy were performed. The cumulative amount of cyclobenzaprine released from the patch with Cotran? 9700 as backing film was less than that of other patches with different backing films. Furthermore, the cumulative amount of cyclobenzaprine released from the patch with Cotran? 9700 as backing film decreased significantly after 7 d storage at room condition. The partitioning experiments indicated a strong adsorption of cyclobenzaprine onto the Cotran? 9700, which could explain the decrease of cumulative amount of cyclobenzaprine released from the patch with Cotran? 9700 as backing film. According to the ATR-FTIR results, there was no interaction between Cotran? 9700 and cyclobenzaprine. The effect of backing films on the release behavior of cyclobenzaprine transdermal patch was attributed to the adsorption of cyclobenzaprine onto the Cotran? 9700.

Numerical simulation of dynamic thermal process during doublesided asymmetrical TIG backing welding of large thick plates

The dynamic thermal process during double-sided asymmetrical TIG backing welding of large thick plates （ 1 000 mm×700 mm×50 mm） is numerically simulated using MSC. MARC. The effect of arc distance on the thermal cycle in weld zone during double-sided asymmetrical T1G backing welding is investigated. The results show that the workpiece experiences double-peak thermal cycle in double-sided asymmetrical TIG backing welding. On the one hand, the fore arc has the pre- heating effect on the rear pass, and the pre-heating temperature depends on the distance between the double arcs, the heat input of fore arc, and the initial temperature of workpiece. On the other hand, the rear arc has the post-heating effect on the fore pass. The mutual effects of two heat sources decrease with the increase of arc distance.

Geological, Soil and Sediment Studies in Chelsaton Sedimentary Basin, Kabul, Afghanistan

The geology, sediment and soil studies are important due to its significant impacts on agriculture, mining, constructions materials, industries, environment, ground water percolation, air pollution, surface and ground water pollutions, earthquakes and geo-hazards in Afghanistan. In this research, we studied petrography, Sediment, tectonic structures, soil fraction selection by using hydrometer, sieving analysis, and geological mapping. Results show different kinds of metamorphic rocks of low grade and medium grade metamorphisms, Garnete mica Schist, Garnete Schist, Quarsite, different types of minerals among rocks. Further, type of sediment consisting residual angular (Autochthonous) and rounded (Allochthonous) transported by water, among sediments consisting Garnete, Gneiss, Schist, Quarsite, Biotite and consisting different type of sizes boulders, Cobble, Granule, Sand, Silt. Hydrometer analysis shows different types of soil clayey loam, sandy loam, silty loam. Moreover, Geological mapping shows complex tectonic structures like joints, cracks, faults, folds, anticline and syncline. The obtained results suggest that the petrography, sediments and soil researches can be used efficiently for catchments of the Kabul Basin and other basins in Afghanistan.

Path of the Information Asymmetry of Asset Backed Securitization—Information Game Analysis of Embedded Block Chain Technology

In recent years, the rapid innovation and development of financial industry has made financial enterprises have a lot of information. However, the large amount of information is tampered with and fragmented, which cannot be shared. With the constant innovation of science and technology, it is the most effective way to solve the information lag and asymmetry of financial products. This article aims to start from the problem of asymmetric information of financial products, the analysis of the emerging block chain technology applied in the financial sector, and with the development of asset securitization information known as the typical scenario for the first time, a concrete analysis information game process, and discuss about the application of chain blocks in securitization feasibility.

Study on the all position automatic pipeline backing weld machine

As a result of the lower backing weld efficiency, the applying of automatic welding is seriously limited. So a kind of special automatic welder is designed and manufactured for backing weld. This paper introduces the character of the assembled pulse CO2 arc welding machine which has strong penetrability. It specifies the technology of controlling the parameters of all position automatic welding by computer and multi-axis controller. Moreover typical welding procedure parameters are provided. It is proved by examination that the economical and practical equipment and technology are suitable for the long-distance transmission pipeline, and it has a good foreground of spreading and applying.

现金为王——美国银行破产浪潮借鉴与思考

银行是国民经济的命脉，资金是企业生存发展的血液。在一定意义上说，保银行就是保经济健康发展，银行出了问题，受害不仅是银行，而是关系到国家利益、人民利益。2008年，随着越来越多的美国银行破产倒闭，国际银行业在次贷危机的冲击下，无疑正面临着动荡的困境。本文以雷曼兄弟投资银行为例，分析了此次危机下美国银行破产的动因及其原理。反思美国的金融危机，得出对于高速发展中的中国金融业来说，只有保持市场稳定才是最理想的选择。

WORLD NEWS IN BRIEF (May 1-15, 1991)

Chinese Premier Li Peng ended his four-day visit to the Democratic People’s Republic of Korea and flew back to Beijing on May 6. On May 6, Japanese Prime Minister Toshiki Kaifu ended a five-nation tour of Southeast Asia during which he strongly backed the US military presence in the region. Throughout his 10-day trip, which took him to Malaysia, Brunei, Thailand and Singapore, Kaifu vowed his country would never again become a military power.

Mechanism analysis of free formation of backing weld by the pulsed MAG-TIG double arc tandem welding

Because of the presence of lower-level automation and efficiency in the backing welding of medium–thick plates,pulse-metalactive-gas–metal-inert-gas(MAG–MIG)dual-arc welding was applied to backing welding of 24-mm-thick Q235-B plate and the process and mechanism of root welding with back formation were investigated.The heating position of the MAG-arc at the front of the molten pool could be adjusted by using the electromagnetic force between the MAG-arc and the MIG-arc,and part of the arc energy could work on the root face directly.By combining the arc-discharge behaviour and analysis of flow in the molten pool,the shear stress of a tungsten inert gas(TIG)arc to the molten pool could make the liquid metal flow backwards.Thus,the quality of the front and bottom liquid metal were reduced,which favored the balance and stability.Continuous and stable back formation with uniform penetration could be achieved by using the pulse MAG–TIG dual-arc welding technology.

Study of properties and mechanisms of backing weld of stainless steel piping with no backing gas

This work investigates the proposed welding of stainless steels with no backing gas by using solid wire ER316L-Si and mixed gases （ He ＋ Ar ＋ CO2 ）. The protection mechanism was also discussed from the view of arc physics and the alloy elements in the solid wire. The result shows that when the proportion of helium in the above-noted mixed gases excesses 45 percent, the mechanical properties and the intergranular corrosion tendency meet corresponding Chinese standards. Further, the alloy elements in the solid wire can react with oxygen during the period of high temperature boosted by helium arc ; this result in the formation of a bed of thin slag, which can avoid the oxidation of the backing weld and eliminate the need of backing gas.

BUCKLING TEST AND OPTIMUM DESICN OF FIHED REINFORCED COMPOSITE PLATES UNDER COMPRESSION

In this paper,the conclusion that the experunental reschs minchk with theoretical antabsis has been for thruhyh bueklme test of comiportik mechetulur piates.It is confirned that the crithal lawck of amposine plees culculated brenuckhing theroethical fornda of anisariropic plate are reliable The nens of optinial antiem of matrix and optimal off-axis which made fover prinfroed composite photes techy biggest citthals an also discused in this paper has resit at aedlen and he used in the design for the products.

RESEARCH ON HLR MOBILITY DATABASE FAILURE RECOVERY AND PERFORMANCE ANALYSIS FOR CDMA2000 SYSTEMS

In this paper, a novel Home Location Register(HLR) mobility database recovery scheme is proposed. With database backing-up and signal sending as its key processes, the presented scheme is designed for the purpose of both decreasing system costs and reducing number of lost calls. In our scheme, an algorithm is developed for an HLR to identify such VLRs that there are new MSs roaming into them since the latest HLR database backing up. The identification of those VLRs is used by the HLR to send Unreliable Roaming Data Directive messages to each of them to get the correct location information of those new MSs. Additionally, two kinds of relationships, one between the number of lost calls and the database backing-up period and the other between the backing-up cost and the period, are well analyzed. Both analytical and numerical results indicate that there will be an optimal HLR database backing-up period if certain system parameters are given and the total cost can be consequently minimized.

蜚声大洋两岸的美国大诗人——菲利普·拉金

That Whitsun, I was late getting away:Not till aboutOne-twenty on the sunlit SaturdayDid my three-quarter-empty train out,All windows down, all cushions hot, all senseOf being in a hurry gone. We ranBehind the backs of houses, crossed a streetOf blinding windsoreens, smelt the fish-dock; thenceThe river’s level drifting breadth began,Where sky and lincolnshire and water meet.

Buying books in London

Londoners are great readers. They buy vast numbers of newspapers and magazines and even of books--especially paper-backs, whick are still comparatively cheap in spite of ever-increasing rises in the costs of printing. They still continue to buy’proper’books, too. printed on good paper and bound between hardcovers. There are many streets in London containing shops which

The Song of the Hump-backed Whale

The singing of birds is among the most common sounds in nature.We all hear these songs from time to time. But few of us have had thechance to hear one of nature’s unusual sounds-the song of the hump-backedwhale. Scientists do not know how hump-backed whales produce theirsongs. But scientist Roger Pain has an idea. Mr. Pain has

Isolation and Characterization of Nine Microsatellite Markers for Red-backed Ratsnake,Elaphe rufodorsata

The red-backed ratsnake（Elaphe rufodorsata） is widely distributed in East Asia, especially China. This species is a common snake in plain river network region. In the past several decades, E. rufodorsata has dramatically declined due to the effect of human activities and over hunting for traditional Chinese medicine. We developed nine species-specific microsatellite loci in 190 individuals collected from Huzhou, Zhejiang province in China. These markers revealed a high degree of genetic diversity（13–41 alleles per locus） and heterozygosity（H O ranged from 0.266 to 0.941, and H E ranged from 0.851 to 0.937）. No locus exhibited significant deviations from Hardy–Weinberg equilibrium. There was no evidence of linkage disequilibrium among pairs of loci. These microsatellite markers were described in our study will be valuable tools for the long term management and population-level studies（e.g. the population structure, genetic diversity and variation, individual paternity and evolutionary history） of the species.

How to Lift a Heavy Object?

Many people hurt their backs when they try to lift heavy things from the floor. It is easy to hurt your back muscles when you pick up a heavy object. However, there is a correct way to lift things from the floor. If you pick up big or heavy objects correctly, you probably will not hurt your back.

似是而非辨颜色

英语中表示颜色的单词为大家所耳熟能详、如数家珍。但是它们在具体的语言环境中所表达的确切含义却不容易把握。