銆€銆€2013骞淬€婇ⅷ(f膿ng)闅�(xi菐n)绠＄悊銆嬬涓夌珷鑰冮粸(di菐n)锛氫俊鐢ㄩⅷ(f膿ng)闅�(xi菐n)鎺у埗

銆€銆€3.4.1 闄愰绠＄悊

銆€銆€闄愰鏄寚灏�(du矛)鏌愪竴瀹㈡埗(h霉)(鍠竴娉曚汉鎴栭泦鍦�(tu谩n)娉曚汉)鎵€纰哄畾鐨�銆佸湪涓€瀹氭檪(sh铆)鏈熷収(n猫i)鍟嗘キ(y猫)閵€琛岃兘澶犳帴鍙楃殑鏈€澶т俊鐢ㄩⅷ(f膿ng)闅�(xi菐n)鏆撮湶锛屽畠鑸囬噾铻嶇敘(ch菐n)鍝佸拰鍏朵粬缍害淇＄敤棰�(f膿ng)闅�(xi菐n)鏆撮湶鐨勫叿楂旂媭娉�銆佸晢妤�(y猫)閵€琛岀殑棰�(f膿ng)闅�(xi菐n)鍋忓ソ銆佺稉(j墨ng)婵�(j矛)璩囨湰閰嶇疆绛夊洜绱犳湁闂�(gu膩n)銆�

銆€銆€1. 鍠竴瀹㈡埗(h霉)闄愰绠＄悊

銆€銆€閲濆皪(du矛)鍠竴瀹㈡埗(h霉)閫�(j矛n)琛岄檺椤嶇鐞嗘檪(sh铆)锛岄鍏堥渶瑕佽▓(j矛)绠楀鎴�(h霉)鐨勬渶楂樺偟鍕�(w霉)鎵垮彈鑳藉姏锛屽嵆瀹㈡埗(h霉)鎲戝€熻嚜韬俊鐢ㄨ垏瀵�(sh铆)鍔涙壙鍙楀皪(du矛)澶栧偟鍕�(w霉)鐨勬渶澶ц兘鍔�銆備竴鑸締(l谩i)瑾�(shu艒)锛屽叿楂旀焙瀹氫竴鍊�(g猫)瀹㈡埗(h霉)(鍊�(g猫)浜烘垨浼佹キ(y猫)/姗�(j墨)妲�(g貌u))鍌靛嫏(w霉)鎵垮彈鑳藉姏鐨勪富瑕佸洜绱犳槸瀹㈡埗(h霉)淇＄敤绛夌礆(j铆)鍜屾墍鏈夎€呮瑠(qu谩n)鐩�锛岀敱姝ゅ彲寰楋細

銆€銆€MBC(Maximum Borrowing Capacity)鏄寚鏈€楂樺偟鍕�(w霉)鎵垮彈椤�;

銆€銆€EQ(Equity)鏄寚鎵€鏈夎€呮瑠(qu谩n)鐩�;

銆€銆€LM(Lever Modulus)鏄寚鏉犳】绯绘暩(sh霉);

銆€銆€CCR(Customer Credit Rating)鏄寚瀹㈡埗(h霉)璩囦俊绛夌礆(j铆);

銆€銆€f(CCR)鏄寚瀹㈡埗(h霉)璩囦俊绛夌礆(j铆)鑸囨潬妗跨郴鏁�(sh霉)灏�(du矛)鎳�(y墨ng)鐨勫嚱鏁�(sh霉)绯绘暩(sh霉)銆�

銆€銆€鍟嗘キ(y猫)閵€琛屽湪鑰冩叜灏�(du矛)瀹㈡埗(h霉)瀹堜俊鏅�(sh铆)涓嶈兘鍍呭儏鏍规摎(j霉)瀹㈡埗(h霉)鐨勬渶楂樺偟鍕�(w霉)鎵垮彈椤嶆彁渚涙巿淇�锛岄倓蹇呴爤灏囧鎴�(h霉)鍦ㄥ叾浠栧晢妤�(y猫)閵€琛岀殑鍘熸湁鎺堜俊銆佸湪鏈鐨勫師鏈夋巿淇″拰婧�(zh菙n)鍌欑櫦(f膩)鏀剧殑鏂版巿淇′竴骞跺姞浠ヨ€冩叜銆�

銆€銆€鍦ㄥ(sh铆)闅涙キ(y猫)鍕�(w霉)涓�锛屽晢妤�(y猫)閵€琛屾焙瀹氬鎴�(h霉)鎺堜俊椤嶅害閭勫彈鍒板叾浠栫浉闂�(gu膩n)鏀跨瓥鐨勫奖闊�锛屼緥濡傞妧琛岀殑瀛樻鏀跨瓥銆佸鎴�(h霉)涓枔妤�(y猫)鍕�(w霉)鎯呮硜銆侀妧琛屾敹鐩婃儏娉佺瓑銆傛澶�锛岀⒑瀹氬鎴�(h霉)淇¤哺闄愰閭勮鑰冩叜鍟嗘キ(y猫)閵€琛屽皪(du矛)瑭插鎴�(h霉)鐨勯ⅷ(f膿ng)闅�(xi菐n)瀹瑰繊搴�锛屽彲浠ョ敤瀹㈡埗(h霉)鎼嶅け闄愰(Customer Maximum Loss Quota锛孋MLQ)琛ㄧず銆�

銆€銆€2. 闆嗗湗(tu谩n)瀹㈡埗(h霉)闄愰绠＄悊

銆€銆€闆嗗湗(tu谩n)绲�(t菕ng)涓€鎺堜俊涓€鑸垎鈥滀笁姝ヨ蛋鈥濓細

銆€銆€灏�(du矛)鍏舵巿淇℃檪(sh铆)鎳�(y墨ng)娉ㄦ剰浠ヤ笅骞鹃粸(di菐n)锛�

銆€銆€绲�(t菕ng)涓€璀�(sh铆)鍒ユ(bi膩o)婧�(zh菙n)锛屽(sh铆)鏂界附閲忔帶鍒�銆�

銆€銆€鎺屾彙鍏呭垎淇℃伅锛岄伩鍏嶉亷(gu貌)搴︽巿淇�銆�

銆€銆€涓昏睛閵€琛岀壗闋�锛屽崝(xi茅)瑾�(di脿o)淇¤哺妤�(y猫)鍕�(w霉)銆�

銆€銆€鐩￠噺灏戠敤淇濊瓑锛岀埈(zh膿ng)鍙栧鐢ㄦ姷鎶�銆�

銆€銆€鎺堜俊鍗�(xi茅)璀扮磩瀹�锛岄棞(gu膩n)鑱�(li谩n)浜ゆ槗蹇呭牨(b脿o)銆�

銆€銆€3. 鍦�(gu贸)闅涜垏鍗€(q奴)鍩熼檺椤嶇鐞�

銆€銆€(1)鍦�(gu贸)瀹堕ⅷ(f膿ng)闅�(xi菐n)闄愰

銆€銆€鍦�(gu贸)闅涢ⅷ(f膿ng)闅�(xi菐n)闄愰鏄敤渚�(l谩i)灏�(du矛)鏌愪竴鍦�(gu贸)瀹剁殑棰�(f膿ng)闅�(xi菐n)鏆撮湶绠＄悊鐨勯搴︽鏋躲€傚湅(gu贸)瀹堕ⅷ(f膿ng)闅�(xi菐n)鏆撮湶鍖呭惈涓€鍊�(g猫)鍦�(gu贸)瀹剁殑淇＄敤棰�(f膿ng)闅�(xi菐n)鏆撮湶銆佽法澧冭綁(zhu菐n)绉婚ⅷ(f膿ng)闅�(xi菐n)浠ュ強ERS(楂樺鍔涢ⅷ(f膿ng)闅�(xi菐n)浜嬩欢鎯呮櫙)棰�(f膿ng)闅�(xi菐n)銆傚湅(gu贸)瀹朵俊鐢ㄩⅷ(f膿ng)闅�(xi菐n)鏆撮湶鏄寚鍦ㄦ煇涓€鍦�(gu贸)瑷�(sh猫)鏈夊浐瀹氬眳鎵€鐨勪氦鏄撳皪(du矛)鏂�(鍖呮嫭娌�(m茅i)鏈夊湅(gu贸)澶栨(j墨)妲�(g貌u)鎿�(d膩n)淇濈殑椐愯┎鍦�(gu贸)瀹剁殑瀛愬叕鍙�)鐨勪俊鐢ㄩⅷ(f膿ng)闅�(xi菐n)鏆撮湶锛屼互鍙婅┎鍦�(gu贸)瀹朵氦鏄撳皪(du矛)鏂规捣澶栧瓙鍏徃鐨勪俊鐢ㄩⅷ(f膿ng)闅�(xi菐n)鏆撮湶?锛熺紘渚圖(zhu菐n)绉婚ⅷ(f膿ng)闅�(xi菐n)鐢�(ch菐n)鐢熶簬涓€鍦�(gu贸)鐨勫晢妤�(y猫)閵€琛屽垎鏀(j墨)妲�(g貌u)灏�(du矛)鍙﹀涓€鍦�(gu贸)鐨勪氦鏄撳皪(du矛)鏂归€�(j矛n)琛岀殑鎺堜俊娲诲嫊(d貌ng)銆�

銆€銆€鍦�(gu贸)瀹堕ⅷ(f膿ng)闅�(xi菐n)闄愰绠＄悊鍩轰簬灏�(du矛)涓€鍊�(g猫)鍦�(gu贸)瀹剁殑缍滃悎瑭�(p铆ng)绱�(j铆)銆�

銆€銆€(2)鍗€(q奴)鍩熼檺椤嶇鐞�

銆€銆€鐧�(f膩)閬�(d谩)鍦�(gu贸)瀹朵竴鑸笉灏�(du矛)涓€鍊�(g猫)鍦�(gu贸)瀹跺収(n猫i)鐨勬煇涓€鍦板崁(q奴)瑷�(sh猫)缃湴鍗€(q奴)棰�(f膿ng)闅�(xi菐n)闄愰銆傛垜鍦�(gu贸)鐢变簬鍦�(gu贸)鍦熼伡闂�銆佸悇鍦扮稉(j墨ng)婵�(j矛)鐧�(f膩)灞曟按骞冲樊璺濊純澶�锛屽洜姝ゅ湪涓€瀹氭檪(sh铆)鏈熷収(n猫i)锛屽(sh铆)鏂藉崁(q奴)鍩熼ⅷ(f膿ng)闅�(xi菐n)闄愰绠＄悊閭勬槸寰堟湁蹇呰鐨�銆�

銆€銆€4. 绲勫悎闄愰绠＄悊

銆€銆€绲勫悎闄愰鏄晢妤�(y猫)閵€琛岃硣鐢�(ch菐n)绲勫悎灞ら潰鐨勯檺椤�锛屾槸绲勫悎绠＄悊鐨勯珨鐝�(xi脿n)鏂瑰紡鍜岀鐞嗘墜娈典箣涓€銆傜祫鍚堥檺椤嶅彲鍒嗙偤鎺堜俊闆嗕腑搴﹂檺椤嶅拰绺介珨绲勫悎闄愰鍏╅(l猫i)銆�

銆€銆€(1)鎺堜俊闆嗕腑搴﹂檺椤�

銆€銆€(2)绺介珨绲勫悎闄愰

銆€銆€瑷�(sh猫)瀹氱祫鍚堥檺椤嶄富瑕佸彲鍒嗙偤浠ヤ笅浜旀锛�

銆€銆€绗竴姝�锛屾寜鏌愮祫鍚堢董搴︾⒑瀹氳硣鏈垎閰嶆瑠(qu谩n)閲�銆�

銆€銆€绗簩姝�锛屾牴鎿�(j霉)璩囨湰鍒嗛厤娆�(qu谩n)閲嶏紝灏�(du矛)闋�(y霉)鏈熺殑绲勫悎閫�(j矛n)琛屽鍔涙脯(c猫)瑭�锛屼及绠楃祫鍚堢殑鎼嶅け銆�

銆€銆€绗笁姝�锛屽皣澹撳姏娓�(c猫)瑭︿及绠楀嚭鐨勯爯(y霉)瑷�(j矛)绲勫悎鎼嶅け鑸囧晢妤�(y猫)閵€琛岀殑璩囨湰鐩稿皪(du矛)姣�銆�

銆€銆€绗洓姝�锛屾牴鎿�(j霉)璩囨湰鍒嗛厤娆�(qu谩n)閲�锛岀⒑瀹氬悇绲勫悎(鎸夎妤�(y猫)銆佹寜鐢�(ch菐n)鍝佺瓑)浠ヨ硣鏈〃绀虹殑绲勫悎闄愰锛�

銆€銆€浠ヨ硣鏈〃绀虹殑绲勫悎闄愰=璩囨湰脳璩囨湰鍒嗛厤娆�(qu谩n)閲�

銆€銆€绗簲姝�锛屾牴鎿�(j霉)璩囨湰杞�(zhu菐n)鎻涘洜瀛愶紝灏囦互璩囨湰琛ㄧず鐨勮┎绲勫悎鐨勭祫鍚堥檺椤嶈綁(zhu菐n)鎻涚偤浠ヨ▓(j矛)鍔冩巿淇￠琛ㄧず鐨勭祫鍚堥檺椤�

銆€銆€濡傛灉娌�(m茅i)鏈夌壒娈婃儏娉�锛屼笉鍏佽ū瓒呴亷(gu貌)绲勫悎闄愰銆�

銆€銆€鍟嗘キ(y猫)閵€琛屾噳(y墨ng)鐩″揩閲囧彇鎺柦灏囩祫鍚堟暈闁�(k膩i)闄嶄綆鍒伴檺椤嶄箣涓�銆�

銆€銆€绲勫悎闄愰涓€鏃﹁鏄庣⒑涓嬩締(l谩i)锛屽氨蹇呴爤鍤�(y谩n)鏍奸伒瀹堝苟寰楀埌鑹ソ缍(h霉)銆�

銆€ 姝峰勾閵€琛屽緸妤�(y猫)璩囨牸鑰冭│鐪熼鍖附(word涓嬭級鐗�)

    閵€琛屽緸妤�(y猫)鑰冭│銆婂€�(g猫)浜虹悊璨�(c谩i)銆嬭€冮粸(di菐n)闆ｉ粸(di菐n)瑙ｆ瀽鍖附

銆€銆€

銆€銆€3.4.2 淇¤哺瀵╂壒

銆€銆€1. 璨告瀹氬児(ji脿)

銆€銆€(1)璨告瀹氬児(ji脿)鐨勬焙瀹氳绱�

銆€銆€璨告瀹氬児(ji脿)鐨勫舰鎴愭(j墨)鍒舵瘮杓冨京(f霉)闆滐紝甯傚牬(ch菐ng)銆侀妧琛屽拰鐩�(ji膩n)绠℃(j墨)妲�(g貌u)閫欎笁鏂归潰鏄舰鎴愬潎琛″畾鍍�(ji脿)鐨勪笁鍊�(g猫)涓昏鍔涢噺銆傝哺娆惧畾鍍�(ji脿)閫氬父鐢变互涓嬪洜绱犱締(l谩i)姹哄畾锛�

銆€銆€璨告鐨勫畾鍍�(ji脿)=璩囬噾鎴愭湰+缍�(j墨ng)鐕�(y铆ng)鎴愭湰+棰�(f膿ng)闅�(xi菐n)鎴愭湰+璩囨湰鎴愭湰

銆€銆€璩囬噾鎴愭湰鍖呮嫭鍌靛嫏(w霉)鎴愭湰鍜岃偂娆�(qu谩n)鎴愭湰锛岀稉(j墨ng)鐕�(y铆ng)鎴愭湰浠ユ墍璎傜殑閮ㄩ杸(m茅n)鎴愭湰鍖呮嫭鍦ㄥ児(ji脿)鏍艰▓(j矛)绠椾腑銆傞ⅷ(f膿ng)闅�(xi菐n)鎴愭湰涓€鑸寚闋�(y霉)鏈熸悕澶憋紝闇€瑕佽ū澶氭暩(sh霉)鎿�(j霉)渚�(l谩i)纰哄畾涓€绛嗚哺娆剧殑闋�(y霉)鏈熸悕澶�銆傝硣鏈垚鏈富瑕佹槸鎸囩敤渚�(l谩i)瑕嗚搵瑭茬瓎璨告鐨勪俊鐢ㄩⅷ(f膿ng)闅�(xi菐n)鎵€闇€瑕佺殑缍�(j墨ng)婵�(j矛)璩囨湰銆傚湪璨告瀹氬児(ji脿)涓€冩叜璩囨湰鎴愭湰鏄洜?y脿n)妞嬬洅搴炶攽L(f膿ng)闅�(xi菐n)寮曡捣鐨勬悕澶辨渶绲傚彧鏈夐€氶亷(gu貌)鏍搁姺(xi膩o)鎾ュ倷鐨勬柟寮忓綄瑁�(b菙)锛岄伒寰閮ㄦ棩鐩婂姞寮�(qi谩ng)鐨勭洠(ji膩n)绠¤姹傦紝鐛插緱鍟嗘キ(y猫)閵€琛岃偂鏉辨墍鏈熸湜鐨勬姇璩囨敹鐩婄巼銆俁AROC鍦ㄨ哺娆惧畾鍍�(ji脿)涓噳(y墨ng)鐢ㄧ殑涓€鑸叕寮忕偤锛�

銆€銆€RAROC=(鏌愰爡(xi脿ng)璨告鐨勪竴骞存敹鍏�-鍚勯爡(xi脿ng)璨�(f猫i)鐢�-闋�(y霉)鏈熸悕澶�)/鐩�(ji膩n)绠℃垨缍�(j墨ng)婵�(j矛)璩囨湰

銆€銆€寮忎腑锛岄爯(y霉)鏈熸悕澶变唬琛ㄥ晢妤�(y猫)閵€琛岀偤棰�(f膿ng)闅�(xi菐n)妤�(y猫)鍕�(w霉)瑷�(j矛)鎻愮殑鍚勯爡(xi脿ng)婧�(zh菙n)鍌�锛岃€岀稉(j墨ng)婵�(j矛)璩囨湰鍓囨槸鐢ㄤ締(l谩i)鎶靛尽鍟嗘キ(y猫)閵€琛岀殑闈為爯(y霉)鏈熸悕澶辨墍闇€鐨勮硣鏈�銆�

銆€銆€(2)璨告瀹氬児(ji脿)鐨勫奖闊垮洜绱�

銆€銆€璨告瀹氬児(ji脿)涓嶅儏鍙楀柈鍊�(g猫)鍊熸鑰呴ⅷ(f膿ng)闅�(xi菐n)鐨勫奖闊�锛岄倓鍙楀晢妤�(y猫)閵€琛岀暥(d膩ng)鍓嶈硣鐢�(ch菐n)绲勫悎绲�(ji茅)妲�(g貌u)鐨勫奖闊�銆�

銆€銆€2. 璨告鐧�(f膩)鏀�

銆€銆€(1)鎺堟瑠(qu谩n)绠＄悊

銆€銆€鎺堜俊娆�(qu谩n)闄愮鐞嗛€氬父閬靛惊浠ヤ笅鍘熷墖锛�

銆€?銆佷砍o浜堟瘡涓€浜ゆ槗灏�(du矛)鏂圭殑淇＄敤闋堝緱鍒颁竴瀹氭瑠(qu谩n)鍒╁堡娆＄殑鎵规簴(zh菙n);

銆€銆€鈶￠泦鍦�(tu谩n)鍏�(n猫i)鎵€鏈夋(j墨)妲�(g貌u)鍦ㄩ€�(j矛n)琛屼俊鐢ㄦ焙绛栨檪(sh铆)鎳�(y墨ng)閬靛惊涓€鑷寸殑妯�(bi膩o)婧�(zh菙n);

銆€?銆佽箙顙�?xi脿ng)鐨勬瘡涓€鍊�(g猫)閲嶈鏀硅畩(濡備富瑕佹娆俱€佹姷鎶肩祼(ji茅)妲�(g貌u)鍙婁富瑕佸悎鍚�)鎳�(y墨ng)寰楀埌涓€瀹氭瑠(qu谩n)鍒╁堡娆＄殑鎵规簴(zh菙n);

銆€?銆佽姍鐏拌畵?du矛)鏂归ⅷ(f膿ng)闅�(xi菐n)闄愰鐨勭⒑瀹氬拰鍠竴淇＄敤棰�(f膿ng)闅�(xi菐n)鏆撮湶鐨勭鐞嗘噳(y墨ng)绗﹀悎绲勫悎鐨勭当(t菕ng)涓€鎸囧皫(d菐o)鍙婁俊鐢ㄦ斂绛�锛屾瘡涓€姹虹瓥閮芥噳(y墨ng)寤虹珛鍦ㄩⅷ(f膿ng)闅�(xi菐n)鈥曟敹鐩婂垎鏋愬熀绀�(ch菙)涔嬩笂;

銆€銆€鈶ゆ牴鎿�(j霉)瀵╂壒浜虹殑璩囨銆佺稉(j墨ng)椹�(y脿n)鍜屽礂浣嶅煿瑷�(x霉n)锛屽皣淇＄敤鎺堟瑠(qu谩n)鍒嗛厤绲﹀鎵逛汉骞跺畾鏈熼€�(j矛n)琛岃€冩牳銆�

銆€銆€(2)鎺堜俊瀵╂壒

銆€銆€鎺堜俊瀵╂壒鎴栦俊璨告焙绛栦竴鑸噳(y墨ng)閬靛惊涓嬪垪鍘熷墖锛�

銆€?銆佽彻寰篔鍒嗛洟鍘熷墖銆�

銆€銆€鈶＄当(t菕ng)涓€鑰冩叜鍘熷墖銆�

銆€銆€鈶㈠睍鏈熼噸瀵╁師鍓�銆�

銆€銆€

銆€銆€3.4.3 璨稿悗绠＄悊

銆€銆€1. 璨告杞�(zhu菐n)璁�

銆€銆€璨告杞�(zhu菐n)璁撻€氬父鎸囪哺娆炬湁鍎熻綁(zhu菐n)璁�?zhu膩n)顑ョ惔J娆剧殑鍘熷偟娆�(qu谩n)浜哄皣宸茬稉(j墨ng)鐧�(f膩)鏀句絾鏈埌鏈熺殑璨告鏈夊劅杞�(zhu菐n)璁撶郸鍏朵粬姗�(j墨)妲�(g貌u)鐨勭稉(j墨ng)婵�(j矛)琛岀偤锛屽張琚ū(ch膿ng)鐐鸿哺娆惧嚭鍞�锛屼富瑕佺洰鐨勬槸鐐轰簡鍒嗘暎棰�(f膿ng)闅�(xi菐n)銆佸鍔犳敹鐩�銆佸(sh铆)鐝�(xi脿n)璩囩敘(ch菐n)澶氬厓鍖�銆佹彁楂樼稉(j墨ng)婵�(j矛)璩囨湰閰嶇疆鏁堢巼銆傝哺娆捐綁(zhu菐n)璁撳彲浠ュ(sh铆)鐝�(xi脿n)淇＄敤棰�(f膿ng)闅�(xi菐n)鐨勮綁(zhu菐n)绉�銆�

銆€銆€璨告杞�(zhu菐n)璁撴寜杞�(zhu菐n)璁撶殑璨告绛嗘暩(sh霉)鍙垎鐐哄柈绛嗚哺娆捐綁(zhu菐n)璁撳拰绲勫悎(鎵撳寘)璨告杞�(zhu菐n)璁�?zhu膩n)顑嬪磾D(zhu菐n)璁撹哺娆剧殑璩囬噾娴佸悜鍙垎鐐轰竴娆℃€ц綁(zhu菐n)璁撳拰鍥炶臣(g貌u)寮忚綁(zhu菐n)璁�?zhu膩n)顑嬩笡鐡婇稕?qu谩n)浜哄皪(du矛)宸茶綁(zhu菐n)璁撹哺娆炬槸鍚︽壙鎿�(d膩n)棰�(f膿ng)闅�(xi菐n)鍙垎鐐虹劇(w煤)杩界储杞�(zhu菐n)璁撳拰鏈夎拷绱㈣綁(zhu菐n)璁�?zhu膩n)顑嬩笡鐡婇稕?qu谩n)浜哄皪(du矛)宸茶綁(zhu菐n)璁撹哺娆炬槸鍚﹀弮鑸囩鐞嗗彲鍒嗙偤浠ｇ寮忚綁(zhu菐n)璁撳拰闈炰唬绠″紡杞�(zhu菐n)璁�?zhu膩n)顑嬭懕鑱滈稕?qu谩n)浜虹⒑瀹氭柟寮忓彲鍒嗙偤瀹氬悜杞�(zhu菐n)璁撹垏鍏枊(k膩i)杞�(zhu菐n)璁�(閫氬父閫氶亷(gu貌)鎷涙(bi膩o))銆傚ぇ澶氭暩(sh霉)璨告鐨勮綁(zhu菐n)璁撴槸灞簬涓€娆℃€с€佺劇(w煤)杩界储銆佷竴绲勫悓璩�(zh矛)鎬х殑璨告(濡備綇鎴挎姷鎶艰哺娆�)鍦ㄨ哺娆句簩绱�(j铆)甯傚牬(ch菐ng)涓婂叕闁�(k膩i)鎵撳寘鍑哄敭銆�

銆€銆€2. 璨告閲嶇祫

銆€銆€璨告閲嶇祫鏄暥(d膩ng)鍌靛嫏(w霉)浜哄洜绋ó鍘熷洜鐒�(w煤)娉曟寜鍘熸湁鍚堝悓灞ョ磩鏅�(sh铆)锛屽晢妤�(y猫)閵€琛岀偤浜嗛檷浣庡鎴�(h霉)閬曠磩棰�(f膿ng)闅�(xi菐n)寮曡嚧鐨勬悕澶憋紝鑰屽皪(du矛)鍘熸湁璨告绲�(ji茅)妲�(g貌u)(鏈熼檺銆侀噾椤嶃€佸埄鐜�銆佽不(f猫i)鐢�銆佹摂(d膩n)淇濈瓑)閫�(j矛n)琛岃(di脿o)鏁淬€侀噸鏂板畨鎺�銆侀噸鏂扮祫绻旂殑閬�(gu貌)绋�銆傝哺娆鹃噸绲勬噳(y墨ng)娉ㄦ剰浠ヤ笅骞惧€�(g猫)鏂归潰锛�

銆€銆€鈶犳槸鍚﹀爆浜庡彲閲嶇祫鐨勫皪(du矛)璞℃垨鐢�(ch菐n)鍝�

銆€?銆佽窉妤硅姕M(j矛n)鍏ラ噸绲勬祦绋�銆�

銆€銆€鈶㈡槸鍚﹀€煎緱閲嶇祫锛岄噸绲勭殑鎴愭湰鑸囬噸绲勫悗鍙笡灏戠殑鎼嶅け瀛板ぇ瀛板皬銆�

銆€?銆佽粣?du矛)鎶垫娂鍝�銆佽唱(zh矛)鎶肩墿鎴栦繚璀変汉涓€鑸噳(y墨ng)閲嶆柊閫�(j矛n)琛岃⿻(p铆ng)浼�銆�

銆€銆€璨告閲嶇祫鐨勬祦绋嬶細

銆€銆€绗竴锛屾垚鏈敹鐩婂垎鏋愩€�

銆€銆€绗簩锛屾簴(zh菙n)鍌欓噸绲勬柟妗堛€�

銆€銆€绗笁锛岃垏鍌靛嫏(w霉)浜虹鍟嗗拰璜囧垽锛屽苟灏辫哺娆鹃噸绲勭殑鎺柦銆佹浠�銆佽姹傚拰瀵�(sh铆)鏂芥湡闄愰仈(d谩)鎴愬叡璀�(sh铆)銆�

銆€ 姝峰勾閵€琛屽緸妤�(y猫)璩囨牸鑰冭│鐪熼鍖附(word涓嬭級鐗�)

    閵€琛屽緸妤�(y猫)鑰冭│銆婂€�(g猫)浜虹悊璨�(c谩i)銆嬭€冮粸(di菐n)闆ｉ粸(di菐n)瑙ｆ瀽鍖附

銆€銆€

銆€銆€3.4.4 缍�(j墨ng)婵�(j矛)璩囨湰瑷�(j矛)閲忚垏閰嶇疆

銆€銆€1. 缍�(j墨ng)婵�(j矛)璩囨湰瑷�(j矛)閲�

銆€銆€淇＄敤棰�(f膿ng)闅�(xi菐n)缍�(j墨ng)婵�(j矛)璩囨湰鏄寚鍟嗘キ(y猫)閵€琛屽湪涓€瀹氱殑缃俊姘村钩涓嬶紝鐐轰簡鎳�(y墨ng)灏�(du矛)鏈締(l谩i)涓€瀹氭湡闄愬収(n猫i)淇＄敤棰�(f膿ng)闅�(xi菐n)璩囩敘(ch菐n)鐨勯潪闋�(y霉)鏈熸悕澶辫€屾噳(y墨ng)瑭叉寔鏈夌殑璩囨湰閲�锛屽叾鍦ㄦ暩(sh霉)鍊间笂绛変簬淇＄敤棰�(f膿ng)闅�(xi菐n)璩囩敘(ch菐n)鍙兘甯朵締(l谩i)鐨勯潪闋�(y霉)鏈熸悕澶�銆�

銆€銆€鍙栨焙浜庝互涓嬪咕鍊�(g猫)鏂归潰锛氫竴鏄疆淇℃按骞�;浜屾槸閵€琛岄ⅷ(f膿ng)闅�(xi菐n)瑷�(j矛)閲忔按骞�銆�

銆€銆€2. 缍�(j墨ng)婵�(j矛)璩囨湰閰嶇疆

銆€?銆佸€╊媱璇滅┓A(y霉)鏈熸悕澶卞崰姣旂殑缍�(j墨ng)婵�(j矛)璩囨湰閰嶇疆銆�

銆€銆€鈶″熀浜庨倞闅涢潪闋�(y霉)鏈熸悕澶卞崰姣旂殑缍�(j墨ng)婵�(j矛)璩囨湰閰嶇疆銆�

銆€銆€3.4.5 璩囩敘(ch菐n)璀夊埜鍖栬垏淇＄敤琛嶇敓鐢�(ch菐n)鍝�

銆€銆€1. 璩囩敘(ch菐n)璀夊埜鍖�

銆€銆€璀夊埜鍖栨槸灏囩己涔忔祦鍕�(d貌ng)鎬т絾鍏锋湁闋�(y霉)鏈熺┅(w臎n)瀹氱従(xi脿n)閲戞祦鐨勮硣鐢�(ch菐n)鍖泦鎴愯硣鐢�(ch菐n)姹�锛岄€氶亷(gu貌)绲�(ji茅)妲�(g貌u)鎬ч噸绲勶紝灏囧叾杞�(zhu菐n)鍖栫偤鍙互鍦ㄩ噾铻嶅競鍫�(ch菐ng)涓婂嚭鍞拰娴侀€氱殑璀夊埜銆備俊璨歌硣鐢�(ch菐n)璀夊埜鍖栵紝鏄皣宸茬稉(j墨ng)瀛樺湪鐨勪俊璨歌硣鐢�(ch菐n)闆嗕腑璧蜂締(l谩i)骞舵寜鐓т俊鐢ㄧ瓑绱�(j铆)閫�(j矛n)琛屽垎椤�(l猫i)锛屽皪(du矛)鎳�(y墨ng)涓嶅悓椤�(l猫i)鍒�(淇＄敤绛夌礆(j铆))鐨勮硣鐢�(ch菐n)鍚戝競鍫�(ch菐ng)涓婄殑鎶曡硣鑰呯櫦(f膩)琛屼笉鍚屾敹鐩婄巼鐨勮瓑鍒革紝寰炶€屼娇淇¤哺璩囩敘(ch菐n)鍦ㄥ師鎸佹湁鑰呯殑璩囩敘(ch菐n)璨�(f霉)鍌佃〃涓婃秷澶�銆備俊璨歌硣鐢�(ch菐n)璀夊埜鍖栫殑鐢�(ch菐n)鍝佺洰鍓嶄富瑕佸彲鍒嗙偤鍏╁ぇ椤�(l猫i)锛氫綇鎴挎姷鎶艰哺娆捐瓑鍒�(MBS)鍜岃硣鐢�(ch菐n)鏀寔璀夊埜(ABS)銆�

銆€銆€淇¤哺璩囩敘(ch菐n)璀夊埜鍖栧叿鏈夊皣缂轰箯娴佸嫊(d貌ng)鎬х殑璨告璩囩敘(ch菐n)杞�(zhu菐n)鎻涙垚鍏锋湁娴佸嫊(d貌ng)鎬х殑璀夊埜鐨勭壒榛�(di菐n)锛岄€欑ó杞�(zhu菐n)鎻涗娇鍟嗘キ(y猫)閵€琛屾棦杞�(zhu菐n)绉讳簡鎸佹湁璨告鐨勪俊鐢ㄩⅷ(f膿ng)闅�(xi菐n)锛屽張鍙互鐛插緱璨告鐨勭祫绻斿畨鎺�銆佸嚭鍞殑鏀剁泭锛屽緸鑰屾湁鍒╀簬鍒嗘暎淇＄敤棰�(f膿ng)闅�(xi菐n)锛屾敼鍠勮硣鐢�(ch菐n)璩�(zh矛)閲忥紝鎿�(ku貌)澶ц硣閲戜締(l谩i)婧�锛岀珐瑙ｈ硣鏈厖瓒冲鍔�锛屾彁楂橀噾铻嶇郴绲�(t菕ng)鐨勫畨鍏ㄦ€�銆�

銆€銆€鈶� 寤虹珛涓€鍊�(g猫)鐛�(d煤)绔嬬殑SPV渚�(l谩i)鐧�(f膩)琛岃瓑鍒�锛孲PV鑸囧師濮嬫瑠(qu谩n)鐩婁汉瀵�(sh铆)琛屸€滅牬鐢�(ch菐n)闅旈洟鈥�;

銆€?銆�?SPV璩�(g貌u)璨�(m菐i)鎶垫娂璨告璀夊埜鍖栫殑璩囩敘(ch菐n)绲勫悎(璨告姹�);

銆€?銆�?瑭�(p铆ng)绱�(j铆)姗�(j墨)妲�(g貌u)鐐鸿硣鐢�(ch菐n)姹犵殑璩囩敘(ch菐n)鎻愪緵淇＄敤瑭�(p铆ng)绱�(j铆);

銆€?銆�?閲囩敤鍚勭ó淇＄敤澧炵礆(j铆)鏂规硶鎻愰珮鐧�(f膩)琛岃瓑鍒哥殑淇＄敤绛夌礆(j铆);

銆€?銆�?SPV鍚戞姇璩囪€呭嚭鍞姷鎶艰哺娆捐瓑鍒�;

銆€?銆�?SPV灏囧嚭鍞姷鎶艰哺娆捐瓑鍒哥殑鏀剁泭鎸夊拰绱勮綁(zhu菐n)鍏ュ師鍌垫瑠(qu谩n)浜虹殑璩埗(h霉);

銆€銆€鈶� SPV璨�(f霉)璨�(z茅)鍚戝偟鍕�(w霉)浜烘敹鍙栨瘡鏈熺従(xi脿n)閲戞祦骞跺皣鍏惰綁(zhu菐n)鍏ヨ臣(g貌u)璨�(m菐i)鎶垫娂璨告璀夊埜鐨勬姇璩囪€呰超鎴�(h霉)銆�

銆€銆€2. 淇＄敤琛嶇敓鐢�(ch菐n)鍝�

銆€銆€淇＄敤琛嶇敓鐢�(ch菐n)鍝佹槸鐢ㄤ締(l谩i)杞�(zhu菐n)绉�/灏�(du矛)娌栦俊鐢ㄩⅷ(f膿ng)闅�(xi菐n)鐨勯噾铻嶅伐鍏�锛屽彲浠ュ皣鍠瓎璨告鎴栬硣鐢�(ch菐n)绲勫悎鐨勫叏閮ㄩ仌绱勯ⅷ(f膿ng)闅�(xi菐n)锛屽杞�(zhu菐n)绉昏哺娆剧瓑鍌垫瑠(qu谩n)寰椾笉鍒板劅浠樼殑棰�(f膿ng)闅�(xi菐n)鍜屼俊鐢ㄨ唱(zh矛)閲忎笅闄嶇殑棰�(f膿ng)闅�(xi菐n)锛岃綁(zhu菐n)绉荤郸浜ゆ槗灏�(du矛)鏂�銆傚父鐢ㄧ殑淇＄敤琛嶇敓宸ュ叿鏈夌附鏀剁泭浜掓彌銆佷俊鐢ㄩ仌绱勪簰鎻�銆佷俊鐢ㄥ児(ji脿)宸鐢熺敘(ch菐n)鍝�銆佷俊鐢ㄨ伅(li谩n)鍕�(d貌ng)绁ㄦ摎(j霉)浠ュ強娣峰悎宸ュ叿(鍓嶈堪鍥涚ó琛嶇敓宸ュ叿鐨勫啀绲勫悎)銆�

銆€銆€(1)绺芥敹鐩婁簰鎻�

銆€銆€绺芥敹鐩婁簰鎻涙槸灏囧偝绲�(t菕ng)鐨勪簰鎻涢€�(j矛n)琛屽悎鎴�锛屼互鐐烘姇璩囪€呮彁渚涢(l猫i)浼艰哺娆炬垨淇＄敤璩囩敘(ch菐n)鐨勬姇璩囩敘(ch菐n)鍝�銆傝垏鏅€氫俊鐢ㄨ硣鐢�(ch菐n)涓嶅悓锛屽畠鍊戣檿浜庤硣鐢�(ch菐n)璨�(f霉)鍌佃〃涔嬪鑰屼笉蹇呴€�(j矛n)鍏ヨ哺娆惧畨鎺掍腑锛岀暥(d膩ng)鐒朵篃涓嶅瓨鍦ㄨ瀺璩囩殑缇╁嫏(w霉)?锛熷伕鎵惧⿰顨楺瑕嗚搵浜嗙敱鍩虹(ch菙)璩囩敘(ch菐n)甯傚牬(ch菐ng)鍍�(ji脿)鍊艰畩鍖栨墍灏�(d菐o)鑷寸殑鍏ㄩ儴鎼嶅け銆�

銆€銆€(2)淇＄敤閬曠磩浜掓彌

銆€銆€淇＄敤閬曠磩浜掓彌鏄熀浜庡€熸浜虹殑閬曠磩锛岄仌绱勪笉涓€瀹氭剰鍛宠憲灏�(du矛)鎵€鏈夎哺娆惧叏閮ㄩ仌绱�锛岃€屾槸鍙兘鍙唬琛ㄥ欢閬叉敮浠樸€傛鏅�(sh铆)锛岃卜(m菐i)鏂逛竴鑸渻(hu矛)鐛插緱鑸囨墍鐧�(f膩)鐢熸悕澶辩浉绛夐噾椤嶇殑瑁�(b菙)鍎熴€�

銆€銆€(3)淇＄敤鍍�(ji脿)宸鐢熺敘(ch菐n)鍝�

銆€銆€瑭茬敘(ch菐n)鍝佹槸鍟嗘キ(y猫)閵€琛岃垏浜ゆ槗灏�(du矛)鏂圭敖瑷傜殑浠ヤ俊鐢ㄥ児(ji脿)宸偤鍩虹(ch菙)璩囩敘(ch菐n)鐨勪俊鐢ㄩ仩(yu菐n)鏈熷拰绱�锛屼互淇＄敤鍍�(ji脿)宸弽鏄犺哺娆剧殑淇＄敤鐙€娉侊細淇＄敤鍍�(ji脿)宸鍔犺〃鏄庤哺娆句俊鐢ㄧ媭娉佹儭鍖栵紝娓涘皯鍓囪〃鏄庤哺娆句俊鐢ㄧ媭娉佹彁楂�銆備俊鐢ㄥ児(ji脿)宸鐢熺敘(ch菐n)鍝佷富瑕佹湁浠ヤ笅鍏╃ó褰㈠紡锛�

銆€?銆�?浠ョ劇(w煤)棰�(f膿ng)闅�(xi菐n)鍒╃巼鐐哄熀婧�(zh菙n)鐨勪俊鐢ㄥ児(ji脿)宸�=鍌靛埜鎴栬哺娆剧殑鏀剁泭鐜�-灏�(du矛)鎳�(y墨ng)鐨勭劇(w煤)棰�(f膿ng)闅�(xi菐n)鍌靛埜鐨勬敹鐩婄巼(绲曞皪(du矛)宸);

銆€?銆�?鍏╃ó灏�(du矛)淇＄敤鏁忔劅鐨勮硣鐢�(ch菐n)涔嬮枔鐨勪俊鐢ㄥ児(ji脿)宸�(鐩稿皪(du矛)宸)銆�

銆€銆€(4)淇＄敤鑱�(li谩n)鍕�(d貌ng)绁ㄦ摎(j霉)

銆€?銆�?鍥哄畾鏀剁泭璀夊埜鍜岀浉闂�(gu膩n)鐨勪俊鐢ㄨ鐢熺敘(ch菐n)鍝佺殑绲勫悎

銆€?銆�?浠ュ晢妤�(y猫)閵€琛屾煇浜涜硣鐢�(ch菐n)鐨勪俊鐢ㄧ媭娉佺偤鍩虹(ch菙)璩囩敘(ch菐n)鐨勪俊鐢ㄨ鐢熺敘(ch菐n)鍝�銆�

銆€銆€淇＄敤鑱�(li谩n)鍕�(d貌ng)绁ㄦ摎(j霉)鐨勪富瑕佺壒榛�(di菐n)鍦ㄤ簬鍙互閫氶亷(gu貌)SPV渚�(l谩i)浜虹偤鍦板畨鎺掗偅浜涙矑(m茅i)鏈変俊鐢ㄧ瓑绱�(j铆)鐨勮哺娆捐硣鐢�(ch菐n)锛屽悓鏅�(sh铆)涔熸壙鎿�(d膩n)閫欎簺璩囩敘(ch菐n)鐨勪俊鐢ㄩⅷ(f膿ng)闅�(xi菐n)銆�

銆€ 姝峰勾閵€琛屽緸妤�(y猫)璩囨牸鑰冭│鐪熼鍖附(word涓嬭級鐗�)

    閵€琛屽緸妤�(y猫)鑰冭│銆婂€�(g猫)浜虹悊璨�(c谩i)銆嬭€冮粸(di菐n)闆ｉ粸(di菐n)瑙ｆ瀽鍖附