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随着银行间债券市场的快速发展,采用信用增进措施的债务融资工具发行人及发行规模增长迅猛。在给中小企业提供融资渠道、丰富债券市场产品的同时,信用增进机构本身的运行和发展情况越来越受到关注。本文初步分析了在银行间市场开展信用增进业务机构规模、业务开展、主要风险指标等相关情况,探讨了其发挥的重要作用以及目前面临的监管不足、增信价值未充分体现以及缺乏有效风险补偿机制等问题,并从防范系统性风险、促进行业规范发展的角度提出工作建议。
With the rapid development of the inter-bank bond market, issuers and issuers of debt financing instruments that adopt credit enhancement measures have enjoyed rapid growth. While providing financing channels for SMEs and enriching the products in the bond market, the operation and development of credit enhancement agencies are receiving more and more attention. This paper analyzes the related situations of scale, business development and major risk indicators of credit enhancement business in the inter-bank market, discusses its important role and the current regulatory deficiencies, the insufficient value of credit enhancement and the lack of effective risk compensation Mechanism and other issues, and from the perspective of preventing systemic risk and promoting the development of the industry standard work recommendations.