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信托公司是资产券化业务不可或缺的基石。对于ABN项目来说,设立特殊目的信托是发起人隔离资产的最有效途径。信托公司可以根据资产支持票据业务的基础资产要求,打破过去在展业中的交易对手范围限制,拓宽信托业务领域。在目前的资产证券化市场,主要有信贷资产证券化、企业资产证券化、在交易商协会注册发行的资产支持票据三种实践模式。相较而言,资产支持票据是交易商协会在银行间市场推出的创新产品,推出时间较短,产品整体规模较小。
Trust companies are an indispensable cornerstone of the asset securitization business. For ABN projects, setting up a special purpose trust is the most efficient way for initiators to isolate assets. According to the requirements of the underlying assets of the asset-backed paper business, the trust company can break the limits of its counterparties in the exhibition and broaden its trust business. In the current asset securitization market, there are three practical modes of securitization of credit assets, asset securitization of enterprises, and asset-backed bills registered and issued by traders associations. In contrast, asset-backed bills are innovative products launched by the NAFMII in the interbank market, with shorter launch times and smaller overall product sizes.