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担保市场是信贷市场的基本构成,具有优化信贷交易的微观价值和稳定金融体系的宏观价值。同时,担保市场具有盈利低和道德风险两类固有缺陷。英国和德国均采取财政出资方式建立担保市场,但模式差异较大。英德政策性担保市场发展英国模式:依托资本市场的担保市场模式财政出资、公司化管理。英国财政出资设立“企业融资担保计划”(EFG)。贸易和工业部(DTI)下设“企业资本有限公司”(CFEL),负责运营。CFEL计
The guarantee market is the basic composition of the credit market, with the micro value of optimizing credit transactions and the macroeconomic value of stabilizing the financial system. At the same time, the guarantee market has two inherent shortcomings of low profitability and moral hazard. Both the UK and Germany have adopted the financial means to establish the guarantee market, but the modes vary greatly. Britain and Germany policy guarantee market development British model: relying on capital market security market model financial investment, corporative management. The British government funded the establishment of “Corporate Financing Guarantee Scheme” (EFG). The Department of Trade and Industry (DTI) operates under the “Corporate Capital Ltd.” (CFEL). CFEL meter