金融市场化背景下我国信用衍生品的创新研究

摘要

In the financial market background, the credit derivatives is a high-profile financial innovation. Credit derivatives have transfer credit risks, improve asset liquidity and improve the return on capital, and other functions. Through to the analysis of the interna-tional experience of the development of the credit derivatives market, and in the institutional framework, the spot size of the market, su-pervision and interest rate benchmark system laid a necessary for the innovation of credit derivatives based on the reality, proposed our country on the premise of strengthening management, fight risk, follow the "by Jane to numerous, from easy to difficult," the basic idea of promoting the innovation of credit derivatives and the sustainable development idea.%　　在金融市场化的背景下，信用衍生品是一项备受瞩目的金融创新。信用衍生品具有转移信用风险、提高基础资产流动性以及提高资本回报率等功能。基于对信用衍生品市场发展的国际经验的分析，并结合我国在制度框架、现货市场规模、监管及利率基准体系等方面为信用衍生品的创新奠定了必要的现实基础上，提出了我国在加强管理、严防风险的前提下，遵照"由简到繁、从易到难"的基本思路推动信用衍生品的创新与可持续发展的构想。