At its most simplistic level, asset securitization is the issuance of a debt instrument backed by a revenue-producing asset of the issuing company.

最简单的说，资产证券化是以发行公司的能产生现金流的资产为支撑而发行的有价债券。

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First, securitization of U.K. consumer, mortgage and business debt has all but collapsed.

FORBES: U.K. Credit Deflation Spooks Bank Of England