Spv is a new legal entity created purely for the purpose of bankruptcy - remote . true sale is the legal means of segregating the assets from the originator ' s credit condition . credit enhancement tools are employed to accomplish a high credit rating 特殊目的载体是为了实现破产隔离而创设的一个新型法律实体;真实出售是将证券化的资产与发起人信用相隔离的法律手段;各种信用增级手段则被用来提高资产支持证券的信用等级。
According to the basic principle of asset securitization and based on the historical data of chinese commercial banks , this paper attempts to prove the feasibility of this measure from capital reorganization , risk segregation and credit enhancement respectively 本文通过对我国不良资产的特殊性的分析,根据资产证券化的三个基本原理(资产重组原理、风险隔离原理和信用增级原理) ,对利用资产证券化来化解我国不良资产进行了可行性分析。
Part two gives a systematic description , from bank abs point of view , of the features , operating mechanism and types of abs , the necessary conditions for its implementation , as well as the operating methods of credit enhancement and credit rating that are required for implementing the abs 第二部分从银行资产证券化的角度,系统描述了银行资产证券化的特征、运作机理、品种、实施的必要条件,以及实施其需要进行信用增级、评级等主要环节的运作方法。
The first part mainly analyzes the concept of securitization and introduces the securitization process including the basic structure , participants and operation steps . next the key techniques of securitizalion which is bankruptcy isolation and credit enhancement are described 第一部分笔者从资产证券化的概念分析入手,简要介绍了资产证券化的基本运作流程,包括基本交易结构、参与主体和运作程序,着重阐述了资产证券化的关键技术? ?破产隔离和信用增级。
Municipals weighted about 1 / 3 in the us bond market value . chinese can reference the mechanism of us and other economies to develop chinese ’ s own municipal market . municipals have a high level of credit rate , moody and the standard and poor usually give aaa rating to municipals 由于我国地区差异明显,各地经济发展水平和财政收支都有很大的不同,对于市政债券的信用风险的控制,主要措施是加强监管,规范发行人的行为,同时,通过外部信用增级,提高市政债券的信用等级。