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信用风险转移市场的建立与发展,对银行系统及金融市场的其他参与主体管理与控制信用风险具有重要的意义。如何建立我国信用风险转移市场及开发相应的金融衍生产品,正在受到我国金融机构及政府金融监管部门的高度重视。本文从信息经济学的视角,着重研究信用风险转移参与者对信用风险这一负利资源的交易动机,以及参与主体间的经济关系和因信息不对称而产生的问题,以期对我国开拓信用风险转移市场提供有益的借鉴。
The establishment and development of credit risk transfer market is of great significance to the banking system and other participants in the financial market to manage and control credit risk. How to establish China’s credit risk transfer market and develop the corresponding financial derivative products is being highly valued by financial institutions and government financial regulatory authorities in our country. From the perspective of information economics, this paper focuses on the transaction motivation of credit risk transfer participants on the negative profit sources of credit risk as well as the economic relations among participants and the problems arising from information asymmetry, Transfer the market to provide useful reference.