文档介绍：首都经济贸易大学
硕士学位论文
我国商业银行不良资产证券化业务创新研究
姓名:刘彦云
申请学位级别:硕士
专业:金融学
指导教师:徐洪才
20100301
摘要

资产证券化作为处置不良资产的手段,在我国已经得到了一定的应用,但由于实
践经验不足,在实施过程中必然存在一定的问题,本文就不良资产证券化在我国的实
践作一研究。
首先,对资产证券化的一般原理进行阐述,使读者对证券化有一个初步的认识。
原始权益人将其所拥有的不良资产“真实出售”给特殊目的机构(SPV),所谓“真实
出售”,指即使原始权益人遭遇倒闭破产时,所出售的资产不被列入清算范围,从而
实现真正意义上的表外证券化。
其次,资产证券化在国外已被广泛应用。因此,本文重点选取几个资产证券化应
用较为广泛的国家对其进行深入研究。这些国家包括美国、意大利、日本、韩国及其
他国家。通过研究不难发现,资产证券化在这些国家具有一些共同特点。这些成功的
经验都为我国实施资产证券化提供了很好的参考。
最后,结合我国实际情况,通过对工行宁波分行不良资产证券化项目进行分析,
得出资产证券化存在的问题,并提出针对性的建议。本文在理论与实践上进行反复分
析论证,相信能够对我国实施不良资产证券化有一定的帮助。

关键词:不良资产、资产证券化、真实出售、特殊目的机构
I
Abstract
As a means of disposal of non-performing assets. Asset securitization has been
widely used in our country. However, due to lack of practical experience. There must be
some problems in the implementation this paper, I will make a study of the
practice of non-performing assets securitization in China. First, I elaborate the general
principles of asset securitization,make sure that the readers have an initial understanding of
of non-performing assets in its possession would make "true sale" to a
special purpose vehicle (SPV).The so-called "real sale" refers to that. Even if the original
involved in closure of the insolvency. The sale of the assets are not included in the scope of
the liquidation,achieving a real sense of the balance-sheet securitization.
Second, asset securitization has been widely used in foreign , this
article focus on a few selected countries whose asset securitization is widely used.
These countries include the United States, Italy, Japan, Korea and other 's easy
to find that. These countries have mon essful
experiences of asset securitization provide a good reference for our country.
Finally, according to the actual situation in our country. By the project of Ningbo
branch of ICBC , and accord