Mortgage-backed Securitization (MBS) is in the field of finance in recent 40 years， the most important innovation in its research in the field of finance has always been a hot This paper developed by the MBS market research compared to the current combination of our MBS of the actual situation， to explore ways to learn from the advanced experience of foreign countries in China to better implementation of the mortgage China's MBS began in 2005， although the rapid development of China's implementation of the MBS in the process of facing many difficulties and obstacles， difficulties and obstacles in both of these market-based reasons as well as environmental reasons for the system; existing mortgage A reason for the market as well as the secondary I come to the following conclusions of the First， our MBS market should be a draw on the experience of Hong Kong Special Administrative Region; MBS in the secondary market system and the system can learn from the experience of the United States; in the securities of the law-making may refer to J In learn from these countries (regions) of experience， not copying machine must be combined with China's actual conditions， step by step， out of the MBS in line with the national conditions of China's development Second， our mortgage payment in advance of the risks and the level of income， housing prices and mortgage rates are a positive correlation between income levels which affect the role of the largest income growth in the average level of 1% of the mortgage was ahead of schedule The payment will increase the possibility of 201 Third， on the strengthening of our MBS system building and construction markets， I believe that in the MBS market level， should establish and improve mortgage risk prevention mechanism， the Government has to consider the establishment of the nature of the mortgage loan guarantees or insurance system; in the secondary Markets should continue to expand the scope of MBS issuance and distribution of the main scale， MBSs improve the credit rating service system， regulate credit rating， and further growth of institutional investors to cultivate and improve the mobility of MBSs;MBS in the system of environmental construction， the need to improve the legal system and the securitization of personal credit system and improve the MBS related to the accounting system and tax Fourth， the United States sub-loan crisis of our MBS to carry out a wake-up Although the loan-to-dimensional crisis， we can not totally reject the MBS， but the use of MBS in the process of the MBS must risk control in a prominent position to strengthen the MBS in the process of the link and the regulation of participants， especially from the source A guard on the mortgage market
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In this paper， foreign exchange options markets start with an overview of foreign exchange options， since it was launched a few decades of development journey， and describes its investment The internationalization of China's financial markets late， which concerns the development of China's personal foreign exchange options， status and investment channels， and recognize its development is not perfect because the yuan An overview of China's commercial banks sale of foreign exchange options on individual product categories， and a detailed analysis of the costs， benefits and risks lie， we give the Chinese a number of investment advice to individual investors， called for regulators to strengthen supervision of financial derivatives
