资产证券化1970年兴起于美国，是20世纪最伟大的金融创新之一。本文首先回顾资产证券化在美国的兴起、演进过程以及资产证券化对商业银行的影响，之后再根据资产证券化的经验，展望我国资产证券化的未来。

关键词：资产证券化、商业银行、现金流

Asset securitization, which rose in the United States in 1970, is one of the greatest financial innovations in the 20th century. This paper first reviews the rise and evolution of asset securitization in the United States and the impact of asset securitization on commercial banks, and then looks forward to the future of asset securitization in China according to the experience of asset securitization.

Keywords: Asset Securitization, Commercial Banks, Cash Flow