Research On Mortgage-Backed Security Of Our Country And Analysis Of Case

The commercial banks of our country are troubled by the non-performing assets, but the securitization of the non-performing assets can't be the breach of the Asset-backed Security (ABS) of our country. Considering the reasons for the housing vacancy rate and housing loan risks of the bank, we should take the Mortgage-backed Security (MBS) as the breakthrough point of the ABS to solve the non-performing assets problem of the four major banks. The Mortgage-backed Security is not only an important way to improve the housing financial market of our country, but also an effective one to reduce the mobile risks that the present domestic commercial banks will face and increase the sufficient rate of the capital. And the more important thing is that the residents' housing industry is the key motive force of promoting the development of our national economy. So studying the Mortgage-backed Security is very important for the healthy and continuous development of our national economy.First, this essay has discussed the fact that the MBS is the breakthrough point of the ABS of our country and arranges the basic theories of the MBS. Then it analyzes the necessity and feasibility of pursuing the MBS in our country according to the requirement of the economy development of our country, combining the actual conditions of the financial circles and the real estate market. Moreover, on the basis of a good understanding of the intension and the operation mechanism of the MBS, it attempts to construct an operational structure which is suitable for the operation of the MBS of our country by dissecting and drawing lessons from the Hong Kong Special Administrative Region of our country and the ripe MBS mode of foreign countries, Finally, with the theories of the MBS, it analyzes some pilot project cases in our country in 2005. On the basis of the above research, it puts forward some meaningful and innovative suggestions on the practice of the MBS in our country.