CAJ | 학술논문

最初的日本住宅金融公库通过财政投融资体制获得资金，向购房者发放长期、固定的低利率贷款。随着日本政策性金融改革，住宅金融公库废除，住宅金融支援机构成立，通过抵押支持债券或者抵押袋款证券化（MBS）市场融通资金，提供证券化服务。住宅金融公库的改革反映了日本住宅问题的变化和住宅金融的发展，对现阶段中国住房保障政策性金融体系创新有一定的示范和借鉴作用。
최초적일본주택금융공고통과재정투융자체제획득자금，향구방자발방장기、고정적저리솔대관。수착일본정책성금융개혁，주택금융공고폐제，주택금융지원궤구성립，통과저압지지채권혹자저압대관증권화（MBS）시장융통자금，제공증권화복무。주택금융공고적개혁반영료일본주택문제적변화화주택금융적발전，대현계단중국주방보장정책성금융체계창신유일정적시범화차감작용。
The initial Japanese Government Housing Loan Corporation obtained funds from the Fiscal Investment and Loan System, and lent long term at low rates to housing consumers. With the reform of Japanese financial policy, Government Housing Loan Corporation got abolished, and Japan Housing Finance Agency established. The agency gets money through MBS market, and provides security services. The reform of Government Housing Loan Corporation reflects the change of housing problems and the development of housing finance in Japan. It has certain reference for China policy-oriented financial system innovation of housing guarantee in the present stage.