Bond Secured
Izibophelelo ezikhuselekileyo zizo zithathwa njenge-asethi - umzekelo, ipropati, izixhobo (njengokuba kunjalo ngokuqhelekileyo kwiibhonkrithi ezikhutshwe yienqwelo zeenqwelo-moya, izithuthi okanye iinkampani zokuthutha), okanye omnye umjelo wokufumana imali.
Ukubambisa izibambiso ( Mortgage-backed securities) (MBS) ngumzekelo woluhlobo olulodwa lwezintlu ezigcinwe zizinto zombini ezibolekayo - izihloko kubahlali ababolekayo-nangemali evela kwimali yokuboleka imali.
Oku kuthetha ukuba kwimeko apho umniki-mali " engaphumeleli " - okanye engaphumeleli ukwenza inzala kunye neentlawulo eziphambili - abatyali-mali batyibango kwi-asethi yomthengisi eyobenza bakwazi ukubuyisela imali yabo. Okungenani, loo nto iinjongo eziqhelekileyo zokuqhawula iimbophelelo. Nangona kunjalo, ngamanye amaxesha, ngamanye amaxesha inokuba ngumngeni, okanye mhlawumbi ukuthengiswa kweempahla kungeke kwenze ukuba abatyali-zimali bazaliswe. Kwiimeko zombini, ubuncwane kukuba emva kokulibaziseka - okuya kubakho kwiiveki ukuya kwiminyaka - abaqeshi bamasheya baya kuba nenxalenye kuphela yotyalo-mali lwabo olubuyiselwe, mhlawumbi emva kokuncitshiswa kweemali ezisemthethweni ezinokubaluleka.
Ngokuqhelekileyo, izibophelelo ezikhuselekile zikhutshwa ngamashishini kunye noomasipala .
Uninzi lwezibophelelo zenkampani, nangona kunjalo, alukhuseli. Kwimeko yamagosa, izibophelelo ezingakhuselekanga zihlala zibizwa ngokuba zibophelelo eziqhelekileyo , kuba zixhaswa ngumbane obanzi obhalisa. Ngokwahlukileyo, iifenethi "zengeniso", ezizibophelelo ezixhaswa yintlawulo efunyenweyo ukuba yenziwe yiprojekthi ethile, kwaye ke ngoko ibanjwe iimbophelelo ezikhuselekile.
Bonds ezingakhuselekanga
Izibophelelo ezingakhuselekanga azikhuseli ngexabiso elithile, kodwa kunoko "ukholo olupheleleyo kunye nekhredithi" yomkhuphi. Ngamanye amagama, umtyalomali unesithembiso somthengisi sokubuyiselwa kodwa asikho ibango kwizinto ezithile.
Oku akufuneki ukuba yinto embi: gcinani engqondweni ukuba iiNondyebo zase-US - ngokuqhelekileyo zibhekwa njengotyalo-mali oluphantsi kakhulu kwihlabathi xa kufikeleleke kwimeko yokungagqibekanga - zonke izibophelelo ezingakhuselekanga.
Kwaye nabanikazi abangakhuselekanga banabango kwiimpahla zomniki-mpahla, kodwa emva kokuba abatyali-mali abanokubaluleka kwi-"structure structure" bahlawulwa kuqala. Ukuba umzekelo, iW widget Corp ikhuphe izibophelelo ezingakhuselekanga kunye nezibophelo ezikhuselekile kwaye kamva zangena kwi-bankruptcy, abanamabhondi aqinisekileyo baya kuhlawulwa kuqala.
Amatyala, njengetyala lesibini elingaqinisekisiwe, kuthiwa "liphantsi," okanye lincinci, kumatyala aqinisekileyo.
Ingozi kunye nokuBuyiswa kweeNdawo eziVikileyo. Bonds ezingakhuselekanga
Ukuqhelaniswa ngokumalunga nemingcipheko kunye nokubuyiselwa kweempawu zeetyala ezixhamliweyo zixhomekeke kwimibandela emininzi. Ngokomzekelo, nangona umntu unokucinga ukuba ityala elikhuselekileyo limela umngcipheko omncinci kubanini-mboleko kunetyala elingaqinisekanga, ngokubhekiselele kwinto echasene nayo iyayinyani. Abatyalomali bathenga ityala elingabikho ngenxa yegama lomthengisi kunye namandla oqoqosho.
Ngamanye amazwi, kungenxa yokuba umngcipheko wokungagqibekanga ude ngokude ukuba utyalomali abatyali bazimisele ukuwamkela isibophelelo ngaphandle kokugqithiswa. Kwimeko yeebhondi zeeNondyebo, umzekelo, akukho nanye ekhuselekile yinto engaphezu kwegama likaRhulumente wase-US, umniki-mali akazange akwazi ukufumana intlawulo yenzalo okanye ihlulekile ukubuyisela inqununu epheleleyo ekukhuleni kwiminyaka engaphezulu kwama-200 minyaka.
Ngezibophelelo ezikhuselekileyo - kungekhona zonke, kodwa ezininzi-isizathu sokuba izibophelelo zikhuselekile kukuba umnikezeli uyazi ukuba akukho nzala inzala kubasomali ekuthengeni izibophelelo ezingakhuselekanga - ngamanye amagama, idumela lomthengisi kunye namandla olwazi olubonakalayo alunagqiba kuthengwa kotyalomali webhondi ngaphandle kokugqithiswa.
Kuzo zombini iziganeko, izibophelelo ezingakhuselekanga ngabaxhasi abanezakhono ezikhuselekileyo kunye nezibophelelo ezikhuselekile ngabasemagunyeni ababuthathaka, isibophelelo esingakhuselekanga sinokuba nesantya somyinge esincinci ekukhutshweni kunokugqithiswa okukhuselekile.
Iibhondi zenkampani ezilinganisiweyo ezantsi, oko kukuthi, izibophelelo ezingenayo i-junk, zisoloko zinama-shedyuli ereyiti ephezulu ekukhutshweni.
Kodwa, kwakhona, ezi ntlobo ze-generalization zisebenza kuphela kwindawo. Amanye amaziko anamandla kakhulu anikezela ngamatyala aqinisekileyo-phakathi kwabo abakhiqizi bamandla abasebenzisana ne-quasi-rhu lumente-kwaye kwiimeko ezinjalo, izinga lokunomdla liza kuba liphantsi kwesizathu esifanayo sokuba inkokhelo engaqinisekanga inokunikela ngesantya esincinci.
Ngokomlinganiselo, i-generalizations efanelekileyo malunga nomngcipheko kunye neempawu zokubuyiselwa kwezibopheko ezikhuselekile kunye ezingakhuselekanga zizo
- Amatyala abonwa njengengozi-ukumela umngcipheko wokungagqibekanga-uya kuba neelarhafu yezinga eliphezulu kunye nezibophelelo nokuba zikhuselekile okanye cha.
- Amatyala akhishwe oorhulumente kunye namashishini anedumela lobungqina bezoqoqosho liya kunika ixabiso lentlawulo ephantsi.
Kuzo zombini iimeko, i-truism isebenzayo: Ingozi kunye neentlawulo zihambelana. Ngokukodwa ngokuthe ngqo: Kwiimarike ezibophelelweyo , ingozi kunye nezivuno zihamba ngesandla .