. . . "\u4E0D\u52D5\u7522\u62B5\u62BC\u8CB8\u6B3E\u8B49\u5238"@zh . . . . . . . "\u0418\u043F\u043E\u0442\u0435\u0447\u043D\u044B\u0435 \u0446\u0435\u043D\u043D\u044B\u0435 \u0431\u0443\u043C\u0430\u0433\u0438 (\u0430\u043D\u0433\u043B. 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\u0442\u0430\u043A\u0438\u0445 \u0431\u0443\u043C\u0430\u0433 \u0438 \u0438\u0441\u043F\u043E\u043B\u043D\u0435\u043D\u0438\u0435 \u043E\u0431\u044F\u0437\u0430\u0442\u0435\u043B\u044C\u0441\u0442\u0432 \u043F\u043E \u043D\u0438\u043C. \u041D\u0430 \u0442\u0435\u0440\u0440\u0438\u0442\u043E\u0440\u0438\u0438 \u0420\u043E\u0441\u0441\u0438\u0439\u0441\u043A\u043E\u0439 \u0424\u0435\u0434\u0435\u0440\u0430\u0446\u0438\u0438 \u0432\u0441\u0435 \u043F\u0435\u0440\u0435\u0447\u0438\u0441\u043B\u0435\u043D\u043D\u044B\u0435 \u0432\u0438\u0434\u044B \u043E\u0442\u043D\u043E\u0448\u0435\u043D\u0438\u0439 \u043F\u043E \u043F\u043E\u0432\u043E\u0434\u0443 \u043B\u044E\u0431\u044B\u0445 \u0438\u043F\u043E\u0442\u0435\u0447\u043D\u044B\u0445 \u0446\u0435\u043D\u043D\u044B\u0445 \u0431\u0443\u043C\u0430\u0433, \u0437\u0430 \u0438\u0441\u043A\u043B\u044E\u0447\u0435\u043D\u0438\u0435\u043C \u0437\u0430\u043A\u043B\u0430\u0434\u043D\u044B\u0445, \u0440\u0435\u0433\u0443\u043B\u0438\u0440\u0443\u044E\u0442\u0441\u044F \u043F\u043E\u0441\u0440\u0435\u0434\u0441\u0442\u0432\u043E\u043C \u0424\u0435\u0434\u0435\u0440\u0430\u043B\u044C\u043D\u043E\u0433\u043E \u0437\u0430\u043A\u043E\u043D\u0430 \u043E\u0442 11 \u043D\u043E\u044F\u0431\u0440\u044F 2003 \u0433. \u2116 152-\u0424\u0417 \u00AB\u041E\u0431 \u0438\u043F\u043E\u0442\u0435\u0447\u043D\u044B\u0445 \u0446\u0435\u043D\u043D\u044B\u0445 \u0431\u0443\u043C\u0430\u0433\u0430\u0445\u00BB."@ru . . . . . "Ein hypothekenbesichertes Wertpapier (englisch mortgage-backed security, abgek\u00FCrzt MBS) ist eine Anleihe, deren Bargeldfl\u00FCsse durch die Zins- und Tilgungszahlungen eines Pools von grundpfandrechtlich gesicherten Forderungen getragen werden. Es ist damit ein Spezialfall eines forderungsbesicherten Wertpapiers (englisch asset-backed security, abgek\u00FCrzt ABS)."@de . . . . . "Pembiayaan sekunder perumahan atau yang juga dikenal dengan istilah Secondary mortgage facility (SMF) adalah suatu perusahaan yang dibentuk untuk membeli suatu kredit pemilikan rumah (KPR) dari bank kreditur yang kemudian tagihan ini dikemas dalam suatu hutang yang kemudian dijual kepada investor seperti misalnya perusahaan asuransi, dana pensiun atapun investor perorangan. Di Asia, Asian Development Bank telah melakukan studi guna menciptakan pasar Mortgage-backed security ini yaitu di China, India, Indonesia, Korea, Malaysia, Pakistan, Filipina dan Thailand"@in . . . "A mortgage-backed security (MBS) is a type of asset-backed security (an 'instrument') which is secured by a mortgage or collection of mortgages. The mortgages are aggregated and sold to a group of individuals (a government agency or investment bank) that securitizes, or packages, the loans together into a security that investors can buy. Bonds securitizing mortgages are usually treated as a separate class, termed residential; another class is commercial, depending on whether the underlying asset is mortgages owned by borrowers or assets for commercial purposes ranging from office space to multi-dwelling buildings."@en . . . . . "Ein hypothekenbesichertes Wertpapier (englisch mortgage-backed security, abgek\u00FCrzt MBS) ist eine Anleihe, deren Bargeldfl\u00FCsse durch die Zins- und Tilgungszahlungen eines Pools von grundpfandrechtlich gesicherten Forderungen getragen werden. Es ist damit ein Spezialfall eines forderungsbesicherten Wertpapiers (englisch asset-backed security, abgek\u00FCrzt ABS). Hypothekenbesicherte Wertpapiere, die durch zweitklassige (englisch subprime) Hypothekendarlehen besichert waren, spielten eine wesentliche Rolle bei der Entstehung der Immobilienblase bis 2008 und der folgenden Finanzkrise, als diese platzte. Man spricht deshalb auch synonymhaft von der sogenannten Subprime-Krise."@de . . . . . . . . . . "En finance de march\u00E9, un titre adoss\u00E9 \u00E0 des cr\u00E9ances hypoth\u00E9caires ou, en France, une cr\u00E9ance hypoth\u00E9caire titris\u00E9e, que l'on d\u00E9signe souvent par l'anglicisme mortgage-backed security (MBS), est un type de valeur mobili\u00E8re adoss\u00E9e \u00E0 des actifs (asset-backed security). Sa est garantie \u00E0 la fois par un ensemble de portions d'hypoth\u00E8ques et par les int\u00E9r\u00EAts pay\u00E9s sur ces hypoth\u00E8ques. Les paiements sont habituellement vers\u00E9s mensuellement pendant la dur\u00E9e de vie des actifs qui servent de garantie. Cependant, tous les titres garantis par une hypoth\u00E8que ne sont pas n\u00E9cessairement des MBS. Les obligations sur r\u00E9sidences (mortgage revenue bonds), garanties par les hypoth\u00E8ques qu'elles financent, ne sont pas des MBS mais des RMBS (residential mortgage-backed security)."@fr . . . . . . . . . . . . "MBS"@pl . . . . . . "\u0418\u043F\u043E\u0442\u0435\u0447\u043D\u044B\u0435 \u0446\u0435\u043D\u043D\u044B\u0435 \u0431\u0443\u043C\u0430\u0433\u0438"@ru . . "\u0418\u043F\u043E\u0442\u0435\u0447\u043D\u044B\u0435 \u0446\u0435\u043D\u043D\u044B\u0435 \u0431\u0443\u043C\u0430\u0433\u0438 (\u0430\u043D\u0433\u043B. Mortgage-Backed Securities - MBS) \u2014 \u0434\u043E\u043B\u0433\u043E\u0432\u044B\u0435 \u0446\u0435\u043D\u043D\u044B\u0435 \u0431\u0443\u043C\u0430\u0433\u0438, \u0440\u0435\u0444\u0438\u043D\u0430\u043D\u0441\u0438\u0440\u0443\u0435\u043C\u044B\u0435 \u0441 \u043F\u043E\u043C\u043E\u0449\u044C\u044E \u043E\u0431\u044F\u0437\u0430\u0442\u0435\u043B\u044C\u0441\u0442\u0432 \u043F\u043E \u043E\u0434\u043D\u043E\u043C\u0443 \u0438\u043B\u0438 \u043D\u0435\u0441\u043A\u043E\u043B\u044C\u043A\u0438\u043C \u0438\u043F\u043E\u0442\u0435\u0447\u043D\u044B\u043C \u043A\u0440\u0435\u0434\u0438\u0442\u0430\u043C. \u041F\u0440\u043E\u0446\u0435\u043D\u0442\u043D\u044B\u0435 \u0432\u044B\u043F\u043B\u0430\u0442\u044B \u0438 \u0432\u044B\u043F\u043B\u0430\u0442\u044B \u043F\u043E \u043E\u0441\u043D\u043E\u0432\u043D\u043E\u0439 \u0441\u0443\u043C\u043C\u0435 \u0434\u043E\u043B\u0433\u0430 \u043F\u043E \u0442\u0430\u043A\u0438\u043C \u0446\u0435\u043D\u043D\u044B\u043C \u0431\u0443\u043C\u0430\u0433\u0430\u043C \u043F\u0440\u043E\u0438\u0437\u0432\u043E\u0434\u044F\u0442\u0441\u044F \u0438\u0437 \u0441\u0440\u0435\u0434\u0441\u0442\u0432, \u043F\u043E\u043B\u0443\u0447\u0435\u043D\u043D\u044B\u0445 \u043F\u043E \u043E\u0431\u0435\u0441\u043F\u0435\u0447\u0438\u0432\u0430\u044E\u0449\u0438\u043C \u043A\u0440\u0435\u0434\u0438\u0442\u0430\u043C."@ru . . "Una mortgage-backed security, in italiano obbligazione assistita da garanzia ipotecaria oppure titolo garantito da ipoteca, \u00E8 un tipo di asset-backed security ed \u00E8 un titolo garantito da un insieme di mutui ipotecari."@it . . . . . . . . . . . . . . . . . "46732"^^ . "A mortgage-backed security (MBS) is a type of asset-backed security (an 'instrument') which is secured by a mortgage or collection of mortgages. The mortgages are aggregated and sold to a group of individuals (a government agency or investment bank) that securitizes, or packages, the loans together into a security that investors can buy. Bonds securitizing mortgages are usually treated as a separate class, termed residential; another class is commercial, depending on whether the underlying asset is mortgages owned by borrowers or assets for commercial purposes ranging from office space to multi-dwelling buildings. The structure of the MBS may be known as \"pass-through\", where the interest and principal payments from the borrower or homebuyer pass through it to the MBS holder, or it may be more complex, made up of a pool of other MBSs. Other types of MBS include collateralized mortgage obligations (CMOs, often structured as real estate mortgage investment conduits) and collateralized debt obligations (CDOs). A mortgage bond is a bond backed by a pool of mortgages on a real estate asset such as a house. More generally, bonds which are secured by the pledge of specific assets are called mortgage bonds. Mortgage bonds can pay interest in either monthly, quarterly or semiannual periods. The prevalence of mortgage bonds is commonly credited to Mike Vranos. The shares of subprime MBSs issued by various structures, such as CMOs, are not identical but rather issued as tranches (French for \"slices\"), each with a different level of priority in the debt repayment stream, giving them different levels of risk and reward. Tranches of an MBS\u2014especially the lower-priority, higher-interest tranches\u2014are/were often further repackaged and resold as collateralized debt obligations. These subprime MBSs issued by investment banks were a major issue in the subprime mortgage crisis of 2006\u20132008. The total face value of an MBS decreases over time, because like mortgages, and unlike bonds, and most other fixed-income securities, the principal in an MBS is not paid back as a single payment to the bond holder at maturity but rather is paid along with the interest in each periodic payment (monthly, quarterly, etc.). This decrease in face value is measured by the MBS's \"factor\", the percentage of the original \"face\" that remains to be repaid. In the United States, MBSs may be issued by structures set up by government-sponsored enterprises like Fannie Mae or Freddie Mac, or they can be \"private-label\", issued by structures set up by investment banks."@en . . . . "Mortgage-backed security (MBS) \u00E4r en v\u00E4rdepapperiserad kredit vars underliggande tillg\u00E5ng \u00E4r fastighetsl\u00E5n (engelska: mortgage). Liknande v\u00E4rdepapper med andra underliggande tillg\u00E5ngar \u00E4n fastighetsl\u00E5n kallas asset-backed security (ABS). B\u00E5de MBS och ABS har p\u00E5 svenska ibland betecknats tillg\u00E5ngss\u00E4krade obligationer. En v\u00E4sentlig skillnad mellan MBS och s\u00E4kerst\u00E4llda obligationer \u00E4r att en MBS enbart inneb\u00E4r en fordran p\u00E5 den underliggande s\u00E4kerheten och inte p\u00E5 den som givit ut MBS:en (emittenten). Detta \u00E5stadkoms genom att den underliggande tillg\u00E5ngen, som utg\u00F6r s\u00E4kerhet f\u00F6r MBS:en, separeras fr\u00E5n emittentens balansr\u00E4kning n\u00E4r en MBS emitteras."@sv . "\uC8FC\uD0DD\uC800\uB2F9\uC99D\uAD8C(MBS: Mortgage-backed securities)\uC740 \uC8FC\uD0DD\uC800\uB2F9\uCC44\uAD8C\uC744 \uAE30\uCD08\uB85C \uBC1C\uD589\uB418\uB294 MBS\uC774\uB2E4. MBS\uC2DC\uC7A5\uC740 1\uCC28 \uC2DC\uC7A5, 2\uCC28 \uC2DC\uC7A5 \uBC0F \uC790\uBCF8\uC2DC\uC7A5\uC73C\uB85C \uAD6C\uC131\uB41C\uB2E4. 1\uCC28 \uC2DC\uC7A5\uC740 \uBAA8\uAE30\uC9C0 \uCC28\uC785\uC790\uC640 \uC0C1\uC5C5\uC740\uD589 \uB4F1 \uBAA8\uAE30\uC9C0 \uB300\uCD9C\uAE30\uAD00 \uC0AC\uC774\uC5D0 \uBAA8\uAE30\uC9C0\uB860\uC774 \uC774\uB8E8\uC5B4\uC9C0\uB294 \uC2DC\uC7A5\uC774\uB2E4.MBS\uC5D0 \uD22C\uC790\uD558\uB294 \uBC29\uBC95\uC740 ISHARE\uC758 MBB ETF\uB97C \uB9E4\uC218\uD558\uB294 \uAC83\uC774\uB2E4."@ko . . . . . . . . . "Contrato garantido por hipoteca"@pt . . "\u4E0D\u52D5\u7522\u62B5\u62BC\u8CB8\u6B3E\u8B49\u5238\uFF08Mortgage-backed security\uFF0CMBS\uFF09\uFF0C\u8CC7\u7522\u62B5\u62BC\u50B5\u5238\u7684\u4E00\u7A2E\uFF0C\u5C07\u4EE5\u4E0D\u52D5\u7522\u70BA\u62B5\u62BC\u7684\u8CB8\u6B3E\u8B49\u5238\u5316\u5F8C\uFF0C\u4EE5\u6253\u5305\u5F62\u5F0F\u5728\u5E02\u5834\u4E0A\u4EA4\u6613\u7684\u5DE5\u5177\u3002 MBS\u5728\u6B21\u8CB8\u5371\u6A5F\u4E2D\u4F54\u6709\u5F88\u91CD\u8981\u7684\u89D2\u8272\u3002"@zh . . . . . . . . . . "En finance de march\u00E9, un titre adoss\u00E9 \u00E0 des cr\u00E9ances hypoth\u00E9caires ou, en France, une cr\u00E9ance hypoth\u00E9caire titris\u00E9e, que l'on d\u00E9signe souvent par l'anglicisme mortgage-backed security (MBS), est un type de valeur mobili\u00E8re adoss\u00E9e \u00E0 des actifs (asset-backed security). Sa est garantie \u00E0 la fois par un ensemble de portions d'hypoth\u00E8ques et par les int\u00E9r\u00EAts pay\u00E9s sur ces hypoth\u00E8ques. Les paiements sont habituellement vers\u00E9s mensuellement pendant la dur\u00E9e de vie des actifs qui servent de garantie. Cependant, tous les titres garantis par une hypoth\u00E8que ne sont pas n\u00E9cessairement des MBS. Les obligations sur r\u00E9sidences (mortgage revenue bonds), garanties par les hypoth\u00E8ques qu'elles financent, ne sont pas des MBS mais des RMBS (residential mortgage-backed security)."@fr . . "Mortgage-backed security (MBS) \u00E4r en v\u00E4rdepapperiserad kredit vars underliggande tillg\u00E5ng \u00E4r fastighetsl\u00E5n (engelska: mortgage). Liknande v\u00E4rdepapper med andra underliggande tillg\u00E5ngar \u00E4n fastighetsl\u00E5n kallas asset-backed security (ABS). B\u00E5de MBS och ABS har p\u00E5 svenska ibland betecknats tillg\u00E5ngss\u00E4krade obligationer. En v\u00E4sentlig skillnad mellan MBS och s\u00E4kerst\u00E4llda obligationer \u00E4r att en MBS enbart inneb\u00E4r en fordran p\u00E5 den underliggande s\u00E4kerheten och inte p\u00E5 den som givit ut MBS:en (emittenten). Detta \u00E5stadkoms genom att den underliggande tillg\u00E5ngen, som utg\u00F6r s\u00E4kerhet f\u00F6r MBS:en, separeras fr\u00E5n emittentens balansr\u00E4kning n\u00E4r en MBS emitteras."@sv . . . . . . . . . . "MBS (ang. mortgage-backed securities, hipoteczny list zastawny) \u2013 rodzaj ABS (ang. asset-backed securities, list\u00F3w zastawnych) papier\u00F3w warto\u015Bciowych, kt\u00F3rych zabezpieczenie stanowi\u0105 wierzytelno\u015Bci hipoteczne daj\u0105ce niepodzielne prawo do pobierania po\u017Cytku z grupy lub puli jednego lub wi\u0119kszej liczby hipotek. Zebrane razem papiery musz\u0105 by\u0107 ocenione przez uznane agencje ratingowe, oraz uzyska\u0107 najwy\u017Csze kwalifikacje. Co wi\u0119cej kredyt musi by\u0107 pocz\u0105tkowo udzielony przez podlegaj\u0105c\u0105 regulacji i autoryzowan\u0105 instytucj\u0119 finansow\u0105, kt\u00F3ra z g\u00F3ry ustala sp\u0142aty kredytu."@pl . "Mortgage-backed security"@en . . . . . . . "Hypothekenbesichertes Wertpapier"@de . "Pembiayaan sekunder perumahan"@in . "Mortgage-backed security"@sv . "Hypote\u010Dn\u00ED z\u00E1stavn\u00ED list je dluhopisov\u00FD cenn\u00FD pap\u00EDr, kter\u00FD m\u016F\u017Ee b\u00FDt podle z\u00E1kona o dluhopisech emitov\u00E1n jedin\u011B bankou. Kryt\u00FD je pohled\u00E1vkami z hypote\u010Dn\u00EDch \u00FAv\u011Br\u016F. Hypote\u010Dn\u00ED z\u00E1stavn\u00ED listy usnad\u0148uj\u00ED bank\u00E1m financov\u00E1n\u00ED hypote\u010Dn\u00EDch \u00FAv\u011Br\u016F. Pohled\u00E1vky za hypote\u010Dn\u00ED \u00FAv\u011Bry v\u0161ak mohou kr\u00FDt hypote\u010Dn\u00ED z\u00E1stavn\u00ED listy pouze do 70 % z\u00E1stavn\u00ED hodnoty zastaven\u00FDch nemovitost\u00ED t\u011Bchto \u00FAv\u011Br\u016F. 10 % z hodnoty hypote\u010Dn\u00EDch z\u00E1stavn\u00EDch list\u016F pak banka m\u016F\u017Ee kr\u00FDt z jin\u00FDch p\u0159edem ur\u010Den\u00FDch likvidn\u00EDch zdroj\u016F (nap\u0159. hotovost, vklady u centr\u00E1ln\u00ED banky \u010Di st\u00E1tn\u00EDmi dluhopisy). Banky mus\u00ED d\u016Fkladn\u011B evidovat hypote\u010Dn\u00ED z\u00E1stavn\u00ED listy a jejich kryt\u00ED. \u010Cesk\u00E1 n\u00E1rodn\u00ED banka dohl\u00ED\u017E\u00ED na dodr\u017Eov\u00E1n\u00ED podm\u00EDnek evidence."@cs . "Um contrato garantido por hipoteca (CGH) \u00E9 um tipo de (um '') garantido por uma hipoteca ou cobran\u00E7a de hipotecas. As hipotecas s\u00E3o agregadas e vendidas a um grupo de indiv\u00EDduos (uma ag\u00EAncia governamental ou banco de investimento) que securitiza, ou empacota, os empr\u00E9stimos em um t\u00EDtulo que os investidores podem comprar. As hipotecas de securitiza\u00E7\u00E3o de t\u00EDtulos s\u00E3o geralmente tratadas como uma classe separada, denominada ; outra classe \u00E9 , dependendo se o ativo subjacente s\u00E3o hipotecas pertencentes a tomadores de empr\u00E9stimos ou ativos para fins comerciais que variam de escrit\u00F3rios a edif\u00EDcios residenciais."@pt . "Pembiayaan sekunder perumahan atau yang juga dikenal dengan istilah Secondary mortgage facility (SMF) adalah suatu perusahaan yang dibentuk untuk membeli suatu kredit pemilikan rumah (KPR) dari bank kreditur yang kemudian tagihan ini dikemas dalam suatu hutang yang kemudian dijual kepada investor seperti misalnya perusahaan asuransi, dana pensiun atapun investor perorangan. Pembiayaan sekunder perumahan ini dilakukan dengan menggunakan suatu perusahaan khusus yaitu suatu perseroan terbatas yang ditunjuk oleh lembaga keuangan yang melaksanakan kegiatan pembiayaan sekunder perumahan yang khusus didirikan untuk membeli aset keuangan dan sekaligus menerbitkan Efek Beragun Aset (EBA). SMF ini dikenal dan digunakan di beberapa negara Asia dan saat ini dikawasan Asia telah terdapat 3 buah perusahaan SMF yaitu (Malaysia), Korea Mortgage Corporation (Korea) dan Hong Kong Mortgage Corporation (Hongkong. Dimana ketiga perusahaan tersebut telah berhasil memberikan kontribusi dalam peningkatan daya beli perumahan dengan menciptakan pasar sekunder pembiayaan perumahan yang dapat memperpanjang jangka waktu kredit serta ketersediaan dana kredit. Di Asia, Asian Development Bank telah melakukan studi guna menciptakan pasar Mortgage-backed security ini yaitu di China, India, Indonesia, Korea, Malaysia, Pakistan, Filipina dan Thailand Penyaluran kredit pemilikan rumah (KPR) ini sering kali menjadi kendala bagi perbankan dimana KPR adalah suatu bentuk kredit jangka panjang yang masa jatuh tempo pembayarannya antara 10 tahun hingga 30 tahun sedangkan dilain sisi sumber dana yang digunakan oleh bank dalam pembiayaan KPR adalah dana jangka pendek seperti tabungan, deposito, dan giro. Akibat ketidak seimbangan struktur ini maka bank enggan membiayai KPR.SMF dapat menjadi salah satu alternatif pembiayaan yaitu dengan tersedianya pasar pendanaan KPR sekunder berupa Secondary Mortgage Facility (SMF). Di beberapa negara, SMF ini telah menjadi sumber dana jangka menengah dan panjang secara konsisten."@in . . . . "Hypote\u010Dn\u00ED z\u00E1stavn\u00ED list"@cs . . . . . . . . . "\u4E0D\u52D5\u7523\u62C5\u4FDD\u8A3C\u5238"@ja . . . . . . . . . . . "Hypote\u010Dn\u00ED z\u00E1stavn\u00ED list je dluhopisov\u00FD cenn\u00FD pap\u00EDr, kter\u00FD m\u016F\u017Ee b\u00FDt podle z\u00E1kona o dluhopisech emitov\u00E1n jedin\u011B bankou. Kryt\u00FD je pohled\u00E1vkami z hypote\u010Dn\u00EDch \u00FAv\u011Br\u016F. Hypote\u010Dn\u00ED z\u00E1stavn\u00ED listy usnad\u0148uj\u00ED bank\u00E1m financov\u00E1n\u00ED hypote\u010Dn\u00EDch \u00FAv\u011Br\u016F. Pohled\u00E1vky za hypote\u010Dn\u00ED \u00FAv\u011Bry v\u0161ak mohou kr\u00FDt hypote\u010Dn\u00ED z\u00E1stavn\u00ED listy pouze do 70 % z\u00E1stavn\u00ED hodnoty zastaven\u00FDch nemovitost\u00ED t\u011Bchto \u00FAv\u011Br\u016F. 10 % z hodnoty hypote\u010Dn\u00EDch z\u00E1stavn\u00EDch list\u016F pak banka m\u016F\u017Ee kr\u00FDt z jin\u00FDch p\u0159edem ur\u010Den\u00FDch likvidn\u00EDch zdroj\u016F (nap\u0159. hotovost, vklady u centr\u00E1ln\u00ED banky \u010Di st\u00E1tn\u00EDmi dluhopisy). Banky mus\u00ED d\u016Fkladn\u011B evidovat hypote\u010Dn\u00ED z\u00E1stavn\u00ED listy a jejich kryt\u00ED. \u010Cesk\u00E1 n\u00E1rodn\u00ED banka dohl\u00ED\u017E\u00ED na dodr\u017Eov\u00E1n\u00ED podm\u00EDnek evidence."@cs . . "\u4E0D\u52D5\u7523\u62C5\u4FDD\u8A3C\u5238\uFF08\u3075\u3069\u3046\u3055\u3093\u305F\u3093\u307D\u3057\u3087\u3046\u3051\u3093\u3001MBS\u3001Mortgage-backed securities\uFF09\u3068\u306F\u3001\u8CC7\u7523\u62C5\u4FDD\u8A3C\u5238\uFF08ABS\u3001Asset-backed securities\uFF09\u306E\u4E00\u7A2E\u3067\u3001\u4F4F\u5B85\u30ED\u30FC\u30F3\u3092\u4E3B\u4F53\u3068\u3059\u308B\u30E2\u30FC\u30B2\u30FC\u30B8\u878D\u8CC7\u3092\u62C5\u4FDD\u3068\u3057\u3066\u767A\u884C\u3055\u308C\u305F\u8A3C\u5238\u5316\u5546\u54C1\u3067\u3042\u308B\u3002"@ja . . . "Una mortgage-backed security, in italiano obbligazione assistita da garanzia ipotecaria oppure titolo garantito da ipoteca, \u00E8 un tipo di asset-backed security ed \u00E8 un titolo garantito da un insieme di mutui ipotecari."@it . . . . . "Mortgage-backed security"@it . . . . . . . . "1194185"^^ . "1110654804"^^ . . . . . . . . . . . . . . . . "\u4E0D\u52D5\u7522\u62B5\u62BC\u8CB8\u6B3E\u8B49\u5238\uFF08Mortgage-backed security\uFF0CMBS\uFF09\uFF0C\u8CC7\u7522\u62B5\u62BC\u50B5\u5238\u7684\u4E00\u7A2E\uFF0C\u5C07\u4EE5\u4E0D\u52D5\u7522\u70BA\u62B5\u62BC\u7684\u8CB8\u6B3E\u8B49\u5238\u5316\u5F8C\uFF0C\u4EE5\u6253\u5305\u5F62\u5F0F\u5728\u5E02\u5834\u4E0A\u4EA4\u6613\u7684\u5DE5\u5177\u3002 MBS\u5728\u6B21\u8CB8\u5371\u6A5F\u4E2D\u4F54\u6709\u5F88\u91CD\u8981\u7684\u89D2\u8272\u3002"@zh . . . . . . "\u4E0D\u52D5\u7523\u62C5\u4FDD\u8A3C\u5238\uFF08\u3075\u3069\u3046\u3055\u3093\u305F\u3093\u307D\u3057\u3087\u3046\u3051\u3093\u3001MBS\u3001Mortgage-backed securities\uFF09\u3068\u306F\u3001\u8CC7\u7523\u62C5\u4FDD\u8A3C\u5238\uFF08ABS\u3001Asset-backed securities\uFF09\u306E\u4E00\u7A2E\u3067\u3001\u4F4F\u5B85\u30ED\u30FC\u30F3\u3092\u4E3B\u4F53\u3068\u3059\u308B\u30E2\u30FC\u30B2\u30FC\u30B8\u878D\u8CC7\u3092\u62C5\u4FDD\u3068\u3057\u3066\u767A\u884C\u3055\u308C\u305F\u8A3C\u5238\u5316\u5546\u54C1\u3067\u3042\u308B\u3002"@ja . . . . . . "\uC8FC\uD0DD\uC800\uB2F9\uC99D\uAD8C"@ko . . . . . . . . . . . . . . . . "MBS (ang. mortgage-backed securities, hipoteczny list zastawny) \u2013 rodzaj ABS (ang. asset-backed securities, list\u00F3w zastawnych) papier\u00F3w warto\u015Bciowych, kt\u00F3rych zabezpieczenie stanowi\u0105 wierzytelno\u015Bci hipoteczne daj\u0105ce niepodzielne prawo do pobierania po\u017Cytku z grupy lub puli jednego lub wi\u0119kszej liczby hipotek. Zebrane razem papiery musz\u0105 by\u0107 ocenione przez uznane agencje ratingowe, oraz uzyska\u0107 najwy\u017Csze kwalifikacje. Co wi\u0119cej kredyt musi by\u0107 pocz\u0105tkowo udzielony przez podlegaj\u0105c\u0105 regulacji i autoryzowan\u0105 instytucj\u0119 finansow\u0105, kt\u00F3ra z g\u00F3ry ustala sp\u0142aty kredytu. W rzeczywisto\u015Bci MBS polega na zamianie przysz\u0142ej sp\u0142aty za dom przez kupuj\u0105cego na papiery warto\u015Bciowe, kt\u00F3re trafiaj\u0105 na rynek finansowy w postaci uregulowanych i zabezpieczonych transzy za pomoc\u0105 instytucji emituj\u0105cych ten rodzaj obligacji. W USA wa\u017Cn\u0105 rol\u0119 emiter\u00F3w odgrywaj\u0105 mi\u0119dzy innymi dwie instytucje Fannie Mae i . S\u0105 to sp\u00F3\u0142ki akcyjne w randze instytucji federalnej (ang. government-sponsored enterprises). Ich g\u0142\u00F3wnym zadaniem jest stwarzanie dogodnych warunk\u00F3w finansowych dla po\u017Cyczkodawc\u00F3w potrzebnych do udzielania niskooprocentowanych po\u017Cyczek oraz zwi\u0119kszanie ich p\u0142ynno\u015Bci finansowej. W zwi\u0105zku z tym zamiast czeka\u0107 na sp\u0142at\u0119 po\u017Cyczek, przyk\u0142adowo Fannie Mae odkupuje po\u017Cyczki, kt\u00F3re swoje \u017Ar\u00F3d\u0142o odnajduj\u0105 w grupie o podobnym ryzyku na rynku wt\u00F3rnym W\u0142a\u015Bnie te papiery by\u0142y jedn\u0105 z przyczyn kryzysu na rynku finansowym w 2008, gdy\u017C po\u017Cyczkobiorcy, nie byli w stanie sp\u0142aca\u0107 swych nale\u017Cno\u015Bci wobec po\u017Cyczkodawc\u00F3w, kt\u00F3rych wierzytelno\u015Bci posiada\u0142y sp\u00F3\u0142ki takie jak Fannie Mae (Federal National Mortgage Association), oraz Freddie Mac. W tym samym roku obie sp\u00F3\u0142ki zosta\u0142y przej\u0119te przez rz\u0105d Stan\u00F3w Zjednoczonych."@pl . . "\uC8FC\uD0DD\uC800\uB2F9\uC99D\uAD8C(MBS: Mortgage-backed securities)\uC740 \uC8FC\uD0DD\uC800\uB2F9\uCC44\uAD8C\uC744 \uAE30\uCD08\uB85C \uBC1C\uD589\uB418\uB294 MBS\uC774\uB2E4. MBS\uC2DC\uC7A5\uC740 1\uCC28 \uC2DC\uC7A5, 2\uCC28 \uC2DC\uC7A5 \uBC0F \uC790\uBCF8\uC2DC\uC7A5\uC73C\uB85C \uAD6C\uC131\uB41C\uB2E4. 1\uCC28 \uC2DC\uC7A5\uC740 \uBAA8\uAE30\uC9C0 \uCC28\uC785\uC790\uC640 \uC0C1\uC5C5\uC740\uD589 \uB4F1 \uBAA8\uAE30\uC9C0 \uB300\uCD9C\uAE30\uAD00 \uC0AC\uC774\uC5D0 \uBAA8\uAE30\uC9C0\uB860\uC774 \uC774\uB8E8\uC5B4\uC9C0\uB294 \uC2DC\uC7A5\uC774\uB2E4.MBS\uC5D0 \uD22C\uC790\uD558\uB294 \uBC29\uBC95\uC740 ISHARE\uC758 MBB ETF\uB97C \uB9E4\uC218\uD558\uB294 \uAC83\uC774\uB2E4."@ko . . . . "Um contrato garantido por hipoteca (CGH) \u00E9 um tipo de (um '') garantido por uma hipoteca ou cobran\u00E7a de hipotecas. As hipotecas s\u00E3o agregadas e vendidas a um grupo de indiv\u00EDduos (uma ag\u00EAncia governamental ou banco de investimento) que securitiza, ou empacota, os empr\u00E9stimos em um t\u00EDtulo que os investidores podem comprar. As hipotecas de securitiza\u00E7\u00E3o de t\u00EDtulos s\u00E3o geralmente tratadas como uma classe separada, denominada ; outra classe \u00E9 , dependendo se o ativo subjacente s\u00E3o hipotecas pertencentes a tomadores de empr\u00E9stimos ou ativos para fins comerciais que variam de escrit\u00F3rios a edif\u00EDcios residenciais. A estrutura do CGH pode ser conhecida como \"repasse\", onde os pagamentos de juros e principal do devedor ou comprador passam por ela para o titular do CGH, ou pode ser mais complexa, composta por um pool de outros CGHs. Outros tipos de CGH incluem (OHCs, muitas vezes estruturadas como condu\u00EDtes de investimento hipotec\u00E1rio imobili\u00E1rio) e (ODCs). Um contrato hipotec\u00E1rio \u00E9 um t\u00EDtulo garantido por um conjunto de hipotecas sobre um ativo imobili\u00E1rio, como uma casa. De forma mais geral, os t\u00EDtulos garantidos pelo penhor de ativos espec\u00EDficos s\u00E3o chamados de t\u00EDtulos hipotec\u00E1rios. Os t\u00EDtulos hipotec\u00E1rios podem pagar juros em per\u00EDodos mensais, trimestrais ou semestrais. A preval\u00EAncia de t\u00EDtulos hipotec\u00E1rios \u00E9 comumente creditada a . As a\u00E7\u00F5es de CGHs subprime emitidas por v\u00E1rias estruturas, como OHCs, n\u00E3o s\u00E3o id\u00EAnticas, mas sim emitidas como tranches (franc\u00EAs para \"fatias\"), cada uma com um n\u00EDvel diferente de prioridade no fluxo de reembolso da d\u00EDvida, dando-lhes diferentes n\u00EDveis de risco e recompensa. As tranches de um CGH \u2014 especialmente as tranches de baixa prioridade e juros mais altos \u2014 s\u00E3o/foram frequentemente reempacotadas e revendidas como obriga\u00E7\u00F5es de d\u00EDvida colateralizadas. Esses CGHs subprime emitidos por bancos de investimento foram um grande problema na crise das hipotecas subprime de 2006\u20132008. O valor de face total de um CGH diminui ao longo do tempo, porque, como hipotecas, e ao contr\u00E1rio de t\u00EDtulos e a maioria dos outros t\u00EDtulos de renda fixa, o d\u00E9bito em um CGH n\u00E3o \u00E9 devolvido como um \u00FAnico pagamento ao detentor do t\u00EDtulo no vencimento, mas sim pago junto com os juros em cada pagamento peri\u00F3dico (mensal, trimestral, etc.) Essa diminui\u00E7\u00E3o do valor facial \u00E9 medida pelo \"fator\" do CGH, a porcentagem da \"face\" original que ainda precisa ser reembolsada. Nos Estados Unidos, os CGHs podem ser emitidos por estruturas criadas por , como Fannie Mae ou Freddie Mac, ou podem ser \"private label\", emitidos por estruturas criadas por bancos de investimento."@pt . . . . . . . . . . . . . . . . "Titre adoss\u00E9 \u00E0 des cr\u00E9ances hypoth\u00E9caires"@fr . . . . . .