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即资产担保证券,是资产证券化的一种形式,指将缺乏流动性但能产生可预见现金流收入的资产汇集起来,通过结构性重组和信用增级,将其转换成金融市场可以出售和流通的证券。 ABS证券的基本结构是将可交易的金融资产,如已有的应收账款资产或基于一定资产的现金流收入与原始权益人完全剥离,过户(真实交易)给特设信托机构(SPV),SPV将资产通过金融担保、保险以及超额抵押等方式取
Asset-backed securities are a form of asset securitization that refers to the combination of assets that lack liquidity but generate predictable cash flow income, which can be converted into financial markets that can be sold and rebuilt through structural reorganization and credit enhancement Circulating securities. The basic structure of ABS securities is that the tradable financial assets, such as the existing receivables assets or the cash flows based on certain assets, are completely stripped off from the original equity holders and transferred to the special trust (SPV) , SPV takes assets through financial guarantees, insurance and over-collateralization