我国商业银行的不良贷款证券化研究.pdfVIP

要 我国商业银行在经济和金融体系中一直扮演着十分重要的角色，长期承担了 本应由资本市场承担的功能，大量基础设施项目的贷款都依靠银行支持，使银行 中长期贷款的比重逐年上升。由于体制改革时遗留的历史 因以及多种因素的综 合影响，巨额不良贷款问题一直严重困扰着我国商业银行，并成为我国银行业改 革和发展的沉重包袱和巨大障碍。由于目前各商业银行和金融资产管理公司采取 处理不良贷款的方式都存在一定的缺陷，不能很好地满足快速、批量处置巨额不 良贷款的要求。因此急需要引入一种新的处理方式与现有的方式有机的结合才能 更加快速、有效地解决这个难题。 资产证券化是 20 世纪 70 年代以来全球最重要的金融创新工具之一，目前已 广泛应用于资本市场的各个领域。资产证券化作为一种低成本的融资手段，也得 到受银行不良资产困扰的各国政府的重视。在市场经济较为发达的国家，证券化 已经成为解决银行不良资产问题的一种重要手段。理论研究和各国实践均证明了， 通过证券化手段处置不良资产，不仅可以加快不良资产处置进度，提高资产处置 效益，也能促进金融创新，丰富金融产品，加快资本市场的进一步发展。 本文在对当前我国商业银行不良贷款及其证券化相关理 进行分析的基础 上，探讨我国现阶段进行不良贷款证券化的必要性和可行性，以及在实施过程中 所面临的障碍，借鉴国内外成功经验，提出了我国商业银行施行不良贷款证券化 的相关建议，为我国推行资产证券化指明了方向。 关键词： 商业银行 不良贷款 证券化 3 Abstract Commercial banks have played an important role in the economic and financial system. It supports a large number of loans for the construction of the infrastructure projects instead of the capital markets, so that the proportion of the long-term loans increased year by year. Due to the effects of institutional reforms, as well as other factors, the huge non-performing loans have been a serious problem for state-owned commercial banks, which impede the reform and development of our country s banking industry. The existing ways to deal with the non-performing loans adopted by the commercial banks and Asset Management Company have some defects. So there was an urgent need to introduce a new approach to solve this puzzle more quickly and effectively. Assets-backed securitizations, as one kind of low cost financing method, also receive high attention from various governments who are also puzzled with the bad Bank asset. In the developed market economy countries, securitization has become an important tool to solve the problem of non-performing a