According to the statistics of Securities Industry and Financial Market Association (SIFMA), by the end of 2008 1 quarter, the balance of American MBS (including MBS and CMO issued by commercial organizations such as GNMA, FNMA and FHLMC) reached 7.4 trillion US dollars. It is the largest bond in the US bond market, accounting for 24.22% of the bond stock, exceeding $5.9 trillion in corporate bonds and $5 trillion in national debt. In 2007, the United States issued $2.05 trillion in MBS, including $0.37 trillion in agency issuance and $0.68 trillion in non-agency issuance, accounting for 33.06% of the total bond issuance. From June 5438 to May 2008, the average daily transaction volume of American institutions' MBS was about $375.7 billion, and its liquidity was second only to national debt.

By the end of 2008 1 quarter, the balance of European MBS (including RMBS and CMBS) was 7.91billion euros, of which RMBS was 649.7 billion euros, mainly concentrated in Britain, Spain, the Netherlands, Italy and other countries. In 2007, Europe issued 307.3 billion euros of MBS, including 259.7 billion euros of RMBS. From the perspective of investor structure, commercial banks and money market funds are the most important participants, accounting for more than 60% and 20% of the market respectively, and the total holdings of other institutions are around 10%.

According to the statistics of CMHC Annual Report, by the end of 2007, the balance of its guaranteed securitization products was 654.38+065.332 billion Canadian dollars, and the amount of guarantee in 2007 was 57.95438+0 billion Canadian dollars. According to HKMC's annual report, by the end of 2007, the balance of MBS products issued by HKMC was about HK$ 4.089 billion, and the balance of other similar products was HK$ 32.959 billion.

China's MBS market has just started. Since the asset securitization business was piloted in 2005, only China Construction Bank issued two issues of RMBS in the national inter-bank bond market in June 5438+February 2005 and June 5438+February 2007, with the amounts of RMB 3,065,438+08 billion and RMB 4,654,380+06 billion respectively.