It expects the market for insurance - backed bonds to leap from $ 25 billion now to at least $ 150 billion by 2015 據保守估計,預期保險合約的市場總值將從目前的250億美元迅速遞增,到2015年將達1500億美元。
And the system efficiently separates the business of mortgage lending from the ultimate investors ? such as pension funds and insurers ? who supply the funds by purchasing the mortgage - backed bonds 該制度也有效地區隔了房產抵押貸款業務和購買抵押貸款支持債券的最終投資者- - - -比如養老基金和保險公司。
And the system efficiently separates the business of mortgage lending from the ultimate investors ? such as pension funds and insurers ? who supply the funds by purchasing the mortgage - backed bonds 該制度也有效地區隔了房產抵押貸款業務和購買抵押貸款擔保債券從而支持了該業務的最終投資者? ?比如養老基金和保險公司。
However , the credit tightening that has come in the wake of the subprime crisis ? which saw banks write off billions in mortgage - backed bonds after low - end mortgage holders defaulted on their payments in response to higher interest rates ? is more of a concern 但是,次貸危機后發生的信貸緊縮更加令人擔憂? ?在低端按揭貸款持有人因加息而拖欠還款后,銀行沖銷了數十億美元的抵押貸款債券。
In order to make further understanding on securitization , the second part emphasis on the three basic forms of asset securitization , pass - through securitization , asset - backed bond and pay - through securitization , with an analysis and comparison of their characteristics and cash flow features 第二部分通過分析和比較過手證券、資產支持債券和轉付證券三種基本模式的特征和現金流特點,進一步加深對資產證券化本質的認識。第三和第四部分是本文的重點。
Now there is a large body of academic and industry research on the establishment of mortgage - backed securities ( mbs ) market , much of which involves introduction of various types of mbs such as mortgage pass - through securities ( mpts ) , mortgage pay - through bonds ( mptbs ) , mortgage - backed bonds ( mbbs ) , collateralized mortgage obligations ( cmos ) and so on 目前,學術界和本行業實踐者們對我國發展mbs市場這一課題進行了廣泛的研究,其中,很大一部分研究是圍繞住房抵押貸款支持證券的品種設計展開的,這些品種包括過手證券、轉付證券、抵押貸款支持債券以及抵押擔保證券( cmos )等。
Based on the difference in the securities repayment structure , the securitization tools can be divided into pass - through securities , mortgage - backed bonds and pay - through securities . the emergence of asset securitization has brought with it enormous economic benefits . it will lead to the optimization of financial structure , the construction of a 首先,本文介紹了資產證券化在國內外的發展,在建行、國開行資產證券化試點工作完成以前,我國資產證券化實踐已經有了一定的發展,雖然相關的產品設計以及法律制度還不完善,但這些實踐給我