作　　者： (王正昌）;

机构地区： 中国人民银行国际司

出　　处： 《金融发展评论》 2017年第6期34-40,共7页

摘　　要： 近年来,欧洲银行业面临日益严峻的不良贷款处置问题,尤其是希腊、意大利等国不良贷款率不断攀升,严重制约欧洲经济发展和金融稳定。在信息不对称的情况下,欧洲不良贷款二级市场发展缓慢,阻碍了不良贷款快速而又大批次地处置。动用公共资金成立资产管理公司,不仅可以促进不良贷款二级市场的发展和建设,还能够加速不良贷款的处置。在欧盟层面成立资产管理公司还可以成为欧洲银行业联盟的良好补充。但是,当前欧洲不良贷款以中小企业贷款为主,涉及面广且处置困难,给资产管理公司的运营带来挑战。同时,在财政政策尚未统一、财政空间不足的情况下,资金问题短期内难以解决,资产管理公司的成立存有疑云。 European banking industry is facing severe NPL problem in recent years, especially in Italy and Greece. The NPL problem is affecting economic development and financial stability. Because of information asymmetry, the secondary market of NPL is in slow development and fast resolution of NPL is hindered. Using public fund to establish a pan-European AMC can promote the development of NPL secondary market and accelerate the resolution of NPL. It will also be good complementation to the banking union. However, the NPL in Europe is mainly comprised of SME loans and raise challenge to the AMC. The AMC will also face problem of financing because it is difficult to coordinate European countries to contribute fund to the AMC.

关 键 词： 欧洲银行业 不良贷款 资产管理公司