影响的扩大戏剧性的出现在了更具风险的抵押贷款证券化的产品,以及以此为基础的合并债务担保证券（CDO）。
Spreads have dramatically widened on the securities backed by riskier mortgages and the pooled and debt-laden collateralised-debt obligations (CDOs) based on them.
本文首先讨论了住房抵押贷款证券化的理论基础，及其对资本结构理论的挑战，然后对银行抵押贷款证券化的收益与风险进行了分析。
The theoretical principles underlying the securitization of housing mortgage and their challenges to the capital structure theories are discussed, and SHM's benefits and risks analyzed.
本文从住房抵押贷款证券化的一般原理和运作机制出发，分析了住房抵押贷款证券化思想在我国运用的现实意义。
From the theory and operating mechanism of the housing mortgage loan - securitization, the paper analyzes the practical meaning of the housing mortgage securitization idea.
本文首先对证券化的运行机理进行了分析，然后结合国内现状，提出了几点关于实施住房抵押贷款证券化的政策建议。
Having analysed the running mechanism of securitization, this paper puts forward several proposals on trying out housing mortgage securitization in combination with the current situation of China.
资产证券化起源于上个世纪七十年代美国的住宅抵押贷款证券化。
Asset securitization originated from the United States housing mortgage backed securities in the 1970s.
本文从住房抵押贷款集合构建、MBS品种选择两方面入手，设计了我国住房抵押贷款证券化试行阶段的MBS，针对该证券特点展开定价讨论。
Firstly, by constructing pools of mortgage and analyzing character of different kinds of MBS, the dissertation design a kind of MBS adaptable for Chinese initial MBS market.
住房抵押贷款证券化产品主要有三种形式：过手抵押贷款证券、担保抵押贷款证券、本息剥离抵押贷款证券。
There are three principal mortgage backed Securitization: mortgage pass through security, collateralized mortgage obligations, stripped mortgage-backed securities.
作为一种金融工具，住房抵押贷款证券化产品是住房抵押贷款证券化过程中重要的载体。
As a tool of finance, the mortgage backed securitization products are the very important carriers for the process of the mortgages securitization.
第二节主要介绍次级抵押贷款的证券化参与主体及其内在运作机制，从而为下文分析证券化链条上各主体间的利益冲突提供铺垫。
Section Two explains the participants in the Sub-prime Mortgage securitization and the securitization operation mechanism, so that it can provide some basis for the coming analysis in the next part.
资产证券化起源于上个世纪七十年代美国的住宅抵押贷款证券化。
Asset securitization originated from the United States mortgage backed securities in the 1970s.
抵押贷款可以证券化，而一个流行歌星歌曲专辑未来所能获得的版税也可证券化。
Mortgages can be securitized, as can future royalties from a pop star's song portfolio.
本文阐述了住房抵押贷款证券化的涵义、环境要求及其产生的效应，着重从宏观上分析了我国推行住房抵押贷款证券化存在的障碍及相应的对策。
This paper probes into the meaning of MBS, its environment requirement and impact, and mainly analyzes the difficulties and corresponding measures in its implementation from macro point of view.
本文阐述了住房抵押贷款证券化的涵义、环境要求及其产生的效应，着重从宏观上分析了我国推行住房抵押贷款证券化存在的障碍及相应的对策。
This paper probes into the meaning of MBS, its environment requirement and impact, and mainly analyzes the difficulties and corresponding measures in its implementation from macro point of view.
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