Industrial And Commercial Bank Of China Housing Mortgage-backed Securities Program

Mortgage-backed security, which was born in the 1970s in the United States, is one of the most important financial innovations and tools in the international financial field in nearly 40 years. In 2005, Construction Bank of China issued "Jianyuan 2005-1 personal housing mortgage-backed securities" in the inter-bank city on the open market, which means that China's bank credit asset securitization pilot entered a substantive phase. Based on the relevant research results both at home and abroad and the combination of the theory and practic, the paper analyzes the basic situation of MBS in China and discusses the developing idea of mortgage-backed securities suitable for China's national conditions. Firstly, the paper introduces the system MBS basic theory, including the basic concepts, the main mode, operational procedures, and major features and functions. Secondly, the paper briefly introduces MBS in China's current situation and its development process of exploring, and gives a brief analysis and evaluation to the Construction Bank of China which launched the MBS model. In light of the actual conditions and the problems and obstacles facing the current, the paper gives Chinese commercial banks the main tasks of developing mortgage securitization some specific recommendations. Finally, according to the latest theoretical analysis and data compilation, and slao giving full consideration to China's existing system environment, technology, accumulated experience, and any other factors, the Industrial and Commercial Bank of China raised the main framework of mortgage securities in participating in the main program, the transaction structure, transaction processes, assets Pool Construction, and other aspects. Finally, in the light of the actual conditions, in view of the problems and obstacles facing, this paper presents specific recommendations to the development of MBS in China.