The Framework of Asset-Backed Securitization for Public Project

摘要

Recently ABS (Asset-Backed Securitization) is becoming one of the most important financial innovations on international finance market, which could solve the bottleneck of construction funds for public projects availably. The feasibility of ABS financing for public project is discussed. As a kind of structural financing instrument ABS can realize the goal of "bankrupt risk insulation" perfectly by framework design, and an effective framework for ABS operation is set up in the paper. Further more the risk in the process of ABS is pointed out and accordingly the policy suggestion is put forward for financial safety.