A商業(yè)銀行住房抵押貸款證券化運作模式設計.pdf

1、學校代碼10699分類號F∞0572密級學號046126763禹毒圭；蓉土嘻碩士學位論文題目專業(yè)學位研究生A商業(yè)銀行住房抵押貸款作者奎衛(wèi)生領域工直筐理指導教師王麴羞、申請學位日期2QQ魚璽!目西北工業(yè)大學MBA論文AbstractTheMortgageBackedSecuritization(MBS)isaprocessinwhichpeoplechangeHouseMortgageLoanfromthestocktothetransf

2、erablefinancialsecuritiesMBS，afinancialinnovativetoolwhichstemsfromAmericainthe1970s，haschangedthecommercialbanks’traditionalcreditchainamongborrowers，banksanddepositorsintoanewcreditchainwhichincludesmoreparticipatorssu

3、chasdepositors，banks，borrowers，financialserviceagenciesandsoonMBSnotonlyreducesbanks’mobilityrisk，butalsomakesalltheparticipatorsbenefitfromitSincemiddle1990s，themajorityofresearchersinChinahavebeenattachingmoreimportanc

4、etoassetssecufitizationtheoryandpaylittleattentiontoputtingMBSintopracticeThisarticle，basedonBankAsmanagementanditseconomicandlegalenvironmentinChina，wouldcomposesanoperatingmodeofMBS，hopingtostrengthenBankAsinnovativeab

5、ilityandcorecompetitivecapacityThispaperconsistsofthreepartsFirstlybasedonthefundamentalconceptandoperatingprocessofMBS，itstatesanuclearprinciple(cashflowanalysistheoryofunderlyingassets)andthethreebasicprinciples(assets

6、reorganizationandriskremoteandcreditenhancement)ofthebankcreditassetssecuritizationSecondlythisessayanalyzesthemanagementproblemofBankA；discussestheeffectofMBS；elaboratesthefeasibilityofMBSandestablishesthedesignprincipl

7、eofMBSinBankAThirdly，combiningthemacroscopiceconomylegalandthemarketoffinance，itdesignstheoperatingmodeofMBSthatincludesthemodeofSPV，transactionstructureandproductsinBankAThroughanalyzingtheadvantagesanddisadvantagesOfth

8、epatternof“trust”，“company”and“l(fā)imitedpartner’，itconcludesthatitisapragmaticmodeforBankAtochoosetheSpecialPurposeTrust(SVT)underourcountry’sexistingeconomicandlegalenvironmentInthedesignoftransactionstructure，itestablish

9、esthemainparticipatorsandarrangesthemainoperatingproceduresInthedesignofproducts，throughcomparingofthepass—throughandpay—throughMBS，ittakesCMOasthebestselectionatthebeginningofMBSinBankAInaddition，itdesignstheissuingscal

10、e，deadlineofCMOAtlastitutilizesthemodeofcashflowyieldandCAPMtoanalyzethecashflowofHousingMortgageLoans，andtakesthepopularbenchmarks，CPRandPSA，tomeasuretheprepaymentandmakethepriceKeywords：Securitization，HousingMortgageLo