商业银行房贷资产证券化研究

发布时间：2018-02-22 12:12

本文关键词： 商业银行住房抵押贷款房贷资产证券化　出处：《天津财经大学》2014年硕士论文　论文类型：学位论文

【摘要】：2007年,美国次贷危机引发的金融危机席卷全球。随后,世界各国陆续出台了一系列政策意图扼制金融危机的蔓延并尽早摆脱其带来的负面影响,其中以美国的QE政策为代表。同时,中国也推出了一系列的刺激政策,其中4万亿投资最为典型。虽然调控政策在一定程度上保持了经济增长,但后期的副作用也同步显现,效果褒贬不一。新一届政府成立之后,在“稳增长、调结构、促改革、惠民生”政策的指导下,开展压力测试,释放警示信号,以2013年6月份的“钱荒”为代表。随后国务院决定采用盘活存量、用好增量的方式促使商业银行等金融机构支持实体经济发展转型和产业升级。房贷资产证券化业务作为商业银行盘活存量的金融工具之一,金融危机之前,在国外尤其是在美国发展尤为迅速,并对资本市场的发展和居民住房问题的解决发挥了积极的作用,但是,其发展逐渐偏离证券化的本质,最终引发了影响巨大的经济危机。在国内,始于2005年的房贷资产证券化业务经过短暂发展,对商业银行的金融创新起到了积极的促进作用,但是受2008年金融危机影响被暂时叫停。2011年,国务院决定恢复开展资产证券化业务,并随后推出了一系列的相关政策旨在促使其实现常规发展。本文重点介绍了房贷资产证券化业务的基本概念、运行机制、特点、分类、国外发展历程对中国的启迪、国内开展该业务的必要性、发展现状和面临的问题；着重分析了建设银行发行的国内首单房贷资产证券化业务,并对商业银行如何更好地开展房贷资产证券化业务提出了建议。深入并全面研究房贷资产证券化业务及其在中国面临的问题及应对策略,对商业银行支持实体经济发展和转型、实现产业升级、解决民生问题、提升商业银行经营管理能力等都具有重要的现实意义。
[Abstract]:In 2007, the financial crisis caused by the subprime mortgage crisis in the United States swept the world. Subsequently, various countries in the world successively issued a series of policies aimed at curbing the spread of the financial crisis and getting rid of its negative effects as soon as possible. Among them, the QE policy of the United States is the representative. At the same time, China has also launched a series of stimulus policies, of which 4 tillion investment is the most typical. Although the adjustment and control policies have maintained economic growth to a certain extent, the side effects of the latter period have also appeared at the same time. After the establishment of the new government, under the guidance of the policy of "steady growth, structural adjustment, promotion of reform, and benefits for the people's health", stress tests were carried out to release warning signals. Taking the "money shortage" in June 2013 as the representative, the State Council subsequently decided to adopt the stock of invigorated stock, In an incremental way, financial institutions such as commercial banks support the transformation of the real economy and industrial upgrading. As one of the financial instruments for commercial banks to revitalize their stock of assets, before the financial crisis, the securitization of mortgage assets was one of the financial instruments for commercial banks to invigorate their stock. In foreign countries, especially in the United States, it has developed rapidly and played a positive role in the development of the capital market and the settlement of the housing problem of residents. However, its development has gradually deviated from the nature of securitization. In China, the securitization of mortgage assets, which began in 2005, has undergone a short period of development, which has played a positive role in promoting the financial innovation of commercial banks. However, affected by the financial crisis in 2008, it was temporarily suspended. In 2011, the State Council decided to resume the business of asset securitization. And then introduced a series of related policies to promote its conventional development. This paper focuses on the introduction of the basic concept of mortgage asset securitization business, operating mechanism, characteristics, classification, the development process of foreign enlightenment to China, The necessity, current situation and problems of developing this business in China are analyzed, and the securitization business of the first single house loan issued by China Construction Bank is analyzed. It also puts forward some suggestions on how to develop the securitization business of mortgage assets in commercial banks. It also makes a thorough and comprehensive study on the securitization business of mortgage assets and its problems and countermeasures in China, and supports the development and transformation of the real economy of commercial banks. It is of great practical significance to realize industrial upgrading, solve livelihood problems and enhance the management ability of commercial banks.
【学位授予单位】：天津财经大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F299.23;F832.479;F832.51

【相似文献】