The Research For MBS Development In China

Asset-backed secuntization was one of the most important financial innovations in the 20th centrury, and Mortgage-backed securitization(MBS), as one of the major forms of asset secuntization, was originated from the beginning of the 70's US..Had a great deal of advantages because of the mortgage loan certificate of the house (MBS, Mortgage-backed secuntization), after the eighties, this new-type securitization tool was spread and developed in Canada, Germany, Britain, France, Australia and Hong Kong etc.Mortgage-backed securitization characterized by its brand-new financing structure and high-efective carrier to meet the needs from various financing groups and investors. With the unique functions ,it has great advantages in financial market ,such as making the assets and liabilities of financial institutions more fluid, the bank low risk and estate market more active, our country should create the condition of starting actively too. A question that the commercial bank securitization of home mortgage while striving to develop, worth much and the discussion. must be faced of the paying attention to very much and the discussion.Mortgage-backed securitization of our country started in by that insurance company is put forward Shenzhen Ping' an, the domestic scholar just began to study the securitization of the home mortgage from then on., and the importance have been realized most of scholar. In 2005,The People's Bank of China allowed Country development bank and The Chinese construction bank to apply it. In fact, now the focus transfer from whether MBS should be carried out to how to apply it and which mode should be choose. This text adopts comparison and the studying our country of the mortgage-backed securitization mode in of the national conditions of foreign countries, combine some securitization theories and concrete conditions of our country, look for the mortgage-backed securitization operational mode suitable for the China's actual conditions, and how to bring about an advance in securitization of our country correctly.