This paper makes a research of the principle and mechanism of asset backed securitization ( abs ) , analyses the feasibility of abs in urban mass transit , and suggests that some related policies and technical suggestions be accepted 摘要论述了资产证券化的原理与机制，分析了我国城市轨道交通采用资产证券化融资模式的可行性，提出了若干对策与建议。
By offering better returns on these riskier slices in order to attract investors , they had to lower the yields on the super senior tranches ( since the overall cash flows from the assets backing a cdo are fixed ) 但为了兜售这些次等抵押债权凭证，银行必须降低顶级抵押债权凭证的收益率（因为同一种资产支持的全部抵押债权凭证的现金流之和是固定的） 。
The decline in us dollar assets backing the aggregate balance was largely offset by an increase in backing assets against certificates of indebtedness and net income and revaluation gains totalling hk $ 875 million 由于支持负债证明书的支持资产增加，以及录得总额８ ７ ５亿港元的净收入和重估收益，使支持银行体系结馀的美元资产的跌幅被大部分抵销。
Presented the following dynamics simulation results in his panel session may 28 . , 2002 , beijin univeristy global finance corporate governance conference and asian business forum asset backed securitization conference , kuala lumpur sept 30 , 2002 2002年五月28日北京大学金融企业研界究中心举办国际金融大会以国际资本市场资产价格模拟及风险管理风险管理演讲
As their domestic currencies appreciate sharply , there would inevitably be shifts , in both the official and private sectors , in the allocation of assets back into domestic assets or assets denominated in currencies that are appreciating 一旦这些地区的货币大幅升值，无可避免地有关的公营及私营部门会将美元资产转换成以当地货币或其他正在升值的货币为单位的资产。
Presented by dr . warren huang to 20 global central bank governors conferences 1999 - 2002 and global finance conference on global corporate governance at peking university , may 29 2002 , beijin and asian finance , business forum , on asset backed securitization conference , kula lumpur , sept . 30 , 2002 近日本银行宣布收购十大银行四百亿绩优股呆帐以提高自有资产比2002年5月28 , 2002 ,北京大学金融企业研究中心举办之国际金融大会北京香山饭店及5月29 ,日2002对北京大学光华管理学院师生演讲
Moreover , in he author ’ s opinion , abs ( assets backed securitization ) is not suitable to the case of the npas in particular for the lack of the stable cash flow . for the above reasons , the author stated that we should introduce the foreign investment into the npas disposal progress . this method will not only bring up the funds , experiences and techniques , but also help to dissolve the moral risks , and then break the paradox in the npas disposal progress 为此本文提出应该加大引入外资参与我国不良资产的处置，这样既可以引入国内处置不良资产急需的大量资金和经验、技术，也有助于化解不良资产流失的道德风险，给不良资产处置者良好的外围环境，从而以外力来打开不良资产处置的困局，实现不良资产的高效、快速处置，消除潜在的金融风险和社会风险。
The pace of change in financial products around the globe is breathtaking . things like asset backed securities , securitization , credit and currency derivatives , options , sophisticated hedging devices , and on and on . these financial instruments allow economic assets to transfer risk to those best able to assess and manage them 以资产为抵押的证券、证券化、信用和货币衍生产品、期权和先进的套期保值等金融工具有助于减少与经济运作有关的不稳定因素，加强经济活动、促进更大的经济发展。
At the year of 2005 , people ’ s bank of china declared that our credit abs would been tested at country development bank and china construct bank , it ’ s means that our nation started the abs test . the correlative studies of asset backed securities in our country get more earthy meaning . for an innovative financial tool , we must clearly study its risk and risk control 由于我国资本市场不够发达,相应制度还不很健全,再加上我国金融体系的不够完善,使得我国资产证券化存在着很多风险,如技术风险、流动性风险、营运风险、道德风险、制度风险等,而如何有效采取措施防范各种可能的风险,是非常值得研究的问题。
