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世界金融市场发生一场持续至今的深刻变革.变革的基本内容一般包括:自由化、国际化、证券化、全球化和一体化.其中证券化分为融资证券化和资产证券化(Asset Securitization)(简记为ABS).所谓融资证券化就是指资金短缺者采取发行证券的方式而不是采取向金融机构借款的方式筹措资金,也就是西方国家的所谓“非中介化”(Disintediation)倾向.下面将要讨论的ABS是把缺乏流动性、但具有未来现金收入流的资产如各类应收帐汇集起来通过结构
The world financial market has undergone a profound and profound change so far. The basic content of the reform generally includes: liberalization, internationalization, securitization, globalization and integration, in which securitization is divided into financing securitization and asset securitization, (Abbreviated as ABS) .Financial securitization refers to the so-called “disintermediation” tendency of western countries to raise capital by issuing securities rather than borrowing from financial institutions. The ABS to be discussed is a collection of assets that lack liquidity but have a stream of future cash flows, such as various accounts receivable, through the structure