穆迪称美国银行对风险转移产品的适度使用对信用状况有利

新浪财经2025-05-06

穆迪评级机构在对 69 家获得评级的美国银行进行调查后发布的一份报告中指出，只有极小比例的美国银行发行了一种复杂的产品，该产品使它们能够摆脱贷款组合中的风险，而且对这类产品相对适度的使用对信用状况是有利的。在被称为信用风险转移（CRT）的交易中，银行实际上是从对冲基金和其他投资者那里购买针对贷款损失风险的保险。2022 年，随着监管机构在区域性银行危机后提议提高大型银行的资本要求，以及在《巴塞尔...

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家获得评级的美国银行进行调查后发布的一份报告中指出，只有极小比例的美国银行发行了一种复杂的产品，该产品使它们能够摆脱贷款组合中的风险，而且对这类产品相对适度的使用对信用状况是有利的。在被称为信用风险转移（CRT）的交易中，银行实际上是从对冲基金和其他投资者那里购买针对贷款损失风险的保险。2022 年，随着监管机构在区域性银行危机后提议提高大型银行的资本要求，以及在《巴塞尔...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN202505062106519750ba2d&s=b\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1883839398.USD","symbol_name":"AMUNDI FUNDS INCOME OPPORTUNITIES \"A2\" (USD) ACC","start_time":0,"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN202505062106519750ba2d&s=b","article_id":"2533639793","we_media_id":null,"thumbnails":[],"rights":{"source":"tencent","url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN202505062106519750ba2d&s=b","rn_cache_url":null,"customStyle":"body{padding-top:10px;}#news_title{font-weight:bold;#titleStyle#;}#news_description 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年，随着监管机构在区域性银行危机后提议提高大型银行的资本要求，以及在《巴塞尔协议 III》的规定下，银行被迫寻找提高其监管资本水平的方法，这类交易开始受到欢迎。不过，穆迪调查的 69 家美国银行中，只有 15 家发行了信用风险转移产品，而且它们对该产品的使用相对适度。报告称，这体现在这些银行的一级普通股（CET1）比率（衡量银行资产质量的指标）中位数提高了 25 个基点，从而获得了资本收益。报告称：“如果一级普通股比率提高幅度超过 1%，则可能表明对信用风险转移产品过度依赖，因此对信用状况不利。”报告称，这些银行未偿付的信用风险转移产品余额总计超过 150 亿美元，对应的资产规模超过 1500 亿美元，并指出发行规模与银行规模相关，这同样对信用状况有利。在资产规模达 1000 亿美元及以上的 26 家被调查银行中，有 11 家（42%）发行了信用风险转移产品；而在资产规模低于 1000 亿美元的 43 家获得评级的银行中，只有 4 家（9%）发行了该产品。银行完成的交易数量很少，平均每家银行仅完成 3 笔交易，且这些交易的资产质量良好。报告称，最积极发行信用风险转移产品的往往是全球性投资银行和综合性银行。信用风险转移产品的投资者也相当集中，最大的投资者通常持有一家银行信用风险转移产品总敞口的 40% 左右，前三大投资者则持有约 80%。调查发现，大多数银行的信用风险转移产品投资者不超过 10 个。穆迪表示，2025 年大多数新发行的信用风险转移产品可能来自已经参与过此类交易的银行，而且大多数尚未参与的被调查银行表示，它们不太可能发行这类产品。责任编辑：郭明煜","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":1,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; 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