CAJ | 학술논문

在当前国内经济增长放缓的大背景下,通过资产证券化的方式盘活流动性差的资产,可以增强整体经济的流动性,缓释银行的存量信用风险.资产证券化产品作为复杂的信用衍生品,在国内仍处于试点阶段,产品价格的准确计量,对发行方和投资者都有很重要的意义.通过对一款产品特点的分析,选取适合的模型和处理方法给出模型定价,并对目前阶段资产证券化产品的市场推广提出建议.
재당전국내경제증장방완적대배경하,통과자산증권화적방식반활류동성차적자산,가이증강정체경제적류동성,완석은행적존량신용풍험.자산증권화산품작위복잡적신용연생품,재국내잉처우시점계단,산품개격적준학계량,대발행방화투자자도유흔중요적의의.통과대일관산품특점적분석,선취괄합적모형화처리방법급출모형정개,병대목전계단자산증권화산품적시장추엄제출건의.
In the background of slowdown in domestic economic growth, it is a feasible approach to en-hance the liquidity of assets and mitigate credit risks in the banking system by means of asset securiti-zation. Asset securitization, as a type of complicated credit derivative, is still in pilot stage in China. Pricing the product accurately is of great importance to both the issuers and the investors. In this paper, we select appropriate models and methodologies to price a credit asset securitization product, and make suggestions about market promotion of this kind of products.