从2007年底开始，由于抵押贷款相关证券和其他复合资产在信贷危机期间下滑，许多这类基金都走下坡路。
Starting in late 2007, many of these funds hit the skids, thanks to mortgage-related securities and other complex holdings that dropped during the credit crunch.
风险资产——证券、信贷和大宗商品的价格修正似乎会因此而不可避免，而且这一现象在七月份已经部分发生了。
A correction of the prices of risky assets — equities, credit and commodity prices — therefore seems inevitable and has already partially started in July.
目前为止，美国大部分的信贷崩溃都源自于资产证券化的失败。
So far most of the credit collapse in America has come from the demise of securitisation.
除了痛快的卖出有价证券，美联储还有一系列别的方法来缩减资产负债表当进入到紧缩信贷。
Besides selling securities outright, the Fed has a number of other tools to shrink its balance sheet when it moves to tighten credit.
信贷资产证券总是包括最廉价的资产以达到等级所需。
CDOs often include the cheapest assets that will achieve the required rating.
IKB可能仅仅是个案，但许多德国银行，尤其是批发银行，已被引流分化为信贷资产证券，哪怕他们否认存在太多的次级部分。
IKB may be a special case, but many German Banks, particularly the wholesale Landesbanks, have been tempted to diversify into CDOs, though they deny much subprime exposure.
信贷资产证券化不仅是一种经济现象，更是一个法律过程。
Securitization of credit assets is not only an economical phenomenon, but a legal process.
贷款服务机构可以是信贷资产证券化发起机构。
A loan servicer can be the originator of the securitization of credit assets.
教育信贷资产证券化的本质是债性合约与股性合约的分工与融合。
The essence of education credit asset-backed securitization is division and integration of debts contract and shares contract.
因此，目前关于资产证券化中资产转移的研究主要集中如何实现证券化基础资产的“真实出售”方面，而忽略了我国信贷资产证券化实践中产生的一些法律问题。
Therefore, the research on the transfer of securitization is mainly about how to achieve the objective of "true sale" while ignoring the legal issues exist in our credit asset securitization practice.
信贷资产证券化作为一种新型的金融工具，其独特的运作机制，有利于提高银行的资本充足率，改善其经营现状。
The unique operation of credit assets backed securitization as a new financial instrument will increase the capital adequacy ratio and improve management status.
第四部分：国有商业银行信贷资产证券化的可行性分析。
Part four: Practicability analysis on assets securitization of state-owned commercial Banks.
以信贷资产支持证券为例探讨资产证券化的特有风险—违约风险，并运用KMV模型测度个案违约风险，在此基础上提出一些控制违约风险的策略。
In case of credit assets backed securities, the paper explores the special risks of asset securitization-default risk, and the default risks with KMV model.
国内多家金融机构先后提出要开展信贷资产证券化业务。
The domestic financial organ successively proposed to develop the asset securities service.
在信贷资产证券化交易中，证券化基础资产的转移具有十分重要的作用。
The transfer of the basic asset is very important in credit asset securitization.
2005年，随着国家对信贷资产证券化相关法规的颁布，这种金融工具纷纷被各家商业银行青睐，并进行尝试。
In 2005, with the promulgation of the regulations relating to credit asset securitization, the financial instrument had been favored and tried by various commercial Banks.
保险部门是信贷风险的净承担者（通过这些衍生物），但是这些净财务状况形成了它们一小部分在握的资产有价证券（通常3----4%）。
The insurance sector is a net taker of credit risk (through these derivatives), but these net positions form a small part (generally 3 to 4 percent) of their asset portfolios.
证券化从诞生起就与银行紧密相关，银行信贷资产通过证券化得到优化。
Securitization, since its birth, is closely related to bank. Through securitization, the credit asset has been optimized.
第五条银监会依法对金融机构的信贷资产证券化业务活动实施监督管理。
Article 5 the CBRC shall supervise and administrate the securitization businesses of credit assets of financial institutions according to law.
文章以银行信贷资产证券化会计处理为研究对象，研究内容包括银行信贷资产证券化的会计确认、会计计量、SPE合并问题及信息披露这几方面。
The paper aims at the accounting for Bank Credit Assets Securitization, and has studied the confirmation, measurement, consolidation of SPE and disclosure of Bank Credit Assets Securitization.
对此，商业银行纷纷调整了其经营策略，包括住房抵押贷款在内，对信贷资产开展证券化一致被银行所垂青。
In response, commercial Banks embark on adjustment of their strategies and favor securitization of assets including housing mortgage loans.
信贷市场与证券市场的关系日趋紧密，信贷资产证券化趋势增强。
Credit market becomes more closely connected with stock market, thus seeing more and more securitization...
第十一条信贷资产证券化发起机构是指通过设立特定目的信托转让信贷资产的金融机构。
Article 11 an originator of the securitization of credit assets refers to a financial institution which transfers credit assets through the established special purpose trust.
第十一条信贷资产证券化发起机构是指通过设立特定目的信托转让信贷资产的金融机构。
Article 11 an originator of the securitization of credit assets refers to a financial institution which transfers credit assets through the established special purpose trust.
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