新实体经济环境下商业承兑汇票业务的机遇与挑战  

The Opportunities and Challenges of Commercial Acceptance Bill under the Circumstances of New Real Economy

作　　者：宋颖颖 

机构地区：[1]中国工商银行票据营业部,上海200080

出　　处：《上海金融学院学报》2016年第6期95-101,共7页Journal of Shanhai Finance University

摘　　要：商业承兑汇票市场在新实体经济环境下表现出价量背离的态势,并演变出流通商票和融资商票分庭抗礼的局面;从信评缺位到信用风险补偿,从再转让局限到流动性溢价,商业承兑汇票的市场发展机遇与挑战并存;商业承兑汇票资产支持证券、基于商业承兑汇票质押的P2P信贷和基于商业承兑汇票的信用风险互换或已成为商业承兑汇票跨界创新的有益尝试。The price and volume of commercial acceptance bill market showed different tendency in the new real economy circumstances, which led to the separation of negotiable commercial paper and financing commercial paper. Because of the lack of credit rating to credit risk premium and the negotiation restriction to circulation premium, commercial acceptance bill market has both opportunities and challenges. Some innovational cross-border attempts have been tried, such as commercial acceptance bill backed securities, P2P credit based on commercial acceptance bill pledge, credit default swap based on commercial acceptance bill, etc.

关 键 词：商业承兑汇票 资产支持证券 票据P2P 信用违约互换 

分 类 号：F832.21[经济管理—金融学]