次级住房抵押贷款

由次级住房抵押贷款（以下简称次贷）危机引发的全球性金融危机导致全球经济增长放缓，我国经济也因此遭受严重冲击。

The global financial crisis triggered by Subprime mortgage crisis has caused that the global economic is slowing , many countries have suffered serious losses , including China .

那些衍生金融产品是债权抵押证券（CDO），是由次级住房抵押贷款支持的。

Those are collateralized debt obligations , or CDOs , which were backed by subprime home loans .

美国次级住房抵押贷款危机的原因及其影响

The Cause and Impact of American Sub-prime Mortgage Crisis

他们引用了1929年的美国、20世纪90年代的日本、1997-98年的亚洲，以及2007-08年次级住房抵押贷款危机作为案例。

They cite as examples the US in 1929 , Japan in the 1990s , Asia in 1997-98 and the implosion of subprime mortgages in 2007-08 .

吸取美国次贷危机的经验，住房抵押贷款支持证券发行监管还应当将次级住房抵押贷款支持证券的发行作为风险性监管的重点，并且应当赋予监管机构紧急处理权，以使监管更加有效。

Learning from US subprime mortgage crisis , subprime mortgage-backed securities should be taken into the risk-based regulation to the issue of mortgage-backed securities . To make the regulation more efficient , the emergency settlement power should be confered on the regulator .