Asset Securitization

Assets Securitization, regard as one of the most important financial innovation of global financial field for over 30 years, has already become major financing instrument of the capital market of developed country rapidly so far. Assets Securitization, relying on unique transaction mechanism, realizes to financial assets risk- benefit distinct to take, thus impels the marketing of the financial assets to change the predicament that the traditional financing mechanism risk confuses, makes the regulating action of law of value be given full play on the basis of true price, realizes optimization that the society of the financial assets allocation finally. Assets Securitization, not only for giving full play to establishing the foundation of market mechanism function, but also has fully reflected the integrated objective request of financial market. Through creating the standard financial products, it makes the financial assets Configuration optimization in the world. Meanwhile, innovation of financial instrument brings the innovation of the pattern of financial idea and financial circles division of work, rounding the forming process of the real transaction price of the financial assets, the whole financial system makes a new fixed position again, the operational efficiency of the financial system improves further. Moreover, Assets Securitization permeates each aspect of social economic field progressively and has an enormous impact on operational efficiency of the whole economy. At present, the socialist market economic system reform of our country is moving forward steadily. The main mission of the reform is to give full play to the role of resource distribution of the market mechanism under the guide of macro adjustments and controls. The reform needs to introduce the innovative achievement that is able to fully reflect the essential request of the market mechanism of the assets Securitization urgently.Under this background, this text links the essential characteristic of the assets Securitization closely, with the basic operating mechanism of the assets Securitization --" risk- benefit realistic mechanism " as thread, proceeds from financial history view, stands at height of productivity development, explains the key principle of the assets Securitization. This text tries to announce inherent development logic of assets Securitization and consistency of assets Securitization operating mechanism and the market mechanism, as base on this and explains the initiative meaning of the assets Securitization in an all-round way, thus returns assets Securitization the true colors. The full text amounts to eight chapters.Through intention of the assets Securitization and essential innovative exposition, Chapter one has established the theoretical foundation of this text. For a long time, lacking the clear thread on theory of the assets Securitization both at home and abroad. Especially it focuses on an expression of the confused statement of the assets Securitization intension. This text regards Marxism economic theory as guidelines and has proved that the assets are the essential request for economical goods through the definition of assets intension at first.And how does this essential request satisfy through the transformation of this five existing forms each other. Thus proves that Securitization, the assets transaction form, can embody characteristic and transaction demand of assets. On this basis, by the analysis of the history of financial system of the world and the phylogeny of American assets Securitization, it proves that assets Securitization is senior achievement of assets trade way under objective request of essentiality of the assets. And according this, the basic definition of assets Securitization is: as the core of specific risk-benefit true mechanism, draw support from the Securitization means, realize the course or mechanism of rational distribution of market of stock assets. This foundation of the avail of risk-benefit portfolio of stock risk- benefit of assets has the benefit of the futur...