商业银行住房抵押贷款风险全面解决方案——基于银行间债券市场的思考  

The comprehensive solution of Commercial Bank Housing Mortgage Loan Risk——Based on the Inter-bank Bond Market

作　　者：李胜[1] 

机构地区：[1]中央财经大学,北京100081

出　　处：《企业技术开发》2016年第1期62-64,69,共4页Technological Development of Enterprise

摘　　要：房地产市场引发的住房抵押贷款风险,需要商业银行引入新的风险管理工具和手段予以对冲。而银行间债券市场的发展为此提供了一个新的可能——资产证券化。文章详细考察了住房抵押贷款证券化产品发展需要解决的两个核心问题——投资期限与投资者匹配、发行市场选择。一方面,通过引入海外投资者解决期限匹配问题,另一方面,通过考虑银行间市场市场化较高可考虑将其作为发行市场。在此基础上,为保证这一市场良性发展,提出"一引三建"的市场建设方案,即通过QFII方式海外投资者、风险隔离模式建设、信息披露体系建设以及增信体系建设。The risk of housing mortgage loans needs to be hedge by new risk management tools.The asset-backed securities become the new mean owing to the development of housing mortgage loans.In this article,two key problems-term matching and choiceof issuing market were discussed.On the one hand, the introducing of oversea investors can solve the problem of term-matching, on the other hand,the inter-bank bond market with high degree of marketization can be considered as the issuing market.In order to maintain the development of the market,the construction plan which include the introducing of oversea investors by QFII,the construction of pattern of isolation of risks, the construction of information disclosure system and the construction of credit enhancement.

关 键 词：住房抵押贷款 银行间债券市场 资产证券化 

分 类 号：F830.91[经济管理—金融学]