{"id":42628,"date":"2026-02-14T07:44:45","date_gmt":"2026-02-14T07:44:45","guid":{"rendered":"https:\/\/www.globalresearch.co.kr\/insight\/mortgaged-backed-securities-market-mordor\/"},"modified":"2026-10-30T23:36:05","modified_gmt":"2026-10-30T14:36:05","slug":"mortgaged-backed-securities-market-mordor","status":"publish","type":"post","link":"https:\/\/www.globalresearch.co.kr\/insight\/mortgaged-backed-securities-market-mordor\/","title":{"rendered":"\uc138\uacc4\uc758 \uc8fc\ud0dd\uc800\ub2f9\uc99d\uad8c \uc2dc\uc7a5 \uaddc\ubaa8 \ubc0f \uc810\uc720\uc728 \ubd84\uc11d &#8211; \uc131\uc7a5 \ub3d9\ud5a5 \ubc0f \uc804\ub9dd (2025-2030)"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/www.globalresearch.co.kr\/insight\/wp-content\/uploads\/2026\/02\/mortgaged-backed-securities-market-1733859783581-195.webp\" alt=\"Chart\" class=\"aligncenter size-full\" \/><\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.globalresearch.co.kr\/insight\/wp-content\/uploads\/2026\/02\/mortgaged-backed-securities-market-size-image-1764076270987.webp\" alt=\"Chart\" class=\"aligncenter size-full\" \/><\/p>\n<p class=\"toc-level-1 toc-content-heading\" id=\"toc-content-heading-0\">1. \uc11c\ub860<\/p>\n<ul>\n<li class=\"toc-level-2\">1.1 \uc5f0\uad6c \uac00\uc815 \ubc0f \uc2dc\uc7a5 \uc815\uc758<\/li>\n<li class=\"toc-level-2\">1.2 \uc5f0\uad6c \ubc94\uc704<\/li>\n<\/ul>\n<p class=\"toc-level-1 toc-content-heading\" id=\"toc-content-heading-1\">2. \uc5f0\uad6c \ubc29\ubc95\ub860<\/p>\n<p class=\"toc-level-1 toc-content-heading\" id=\"toc-content-heading-2\">3. \uc694\uc57d<\/p>\n<p class=\"toc-level-1 toc-content-heading\" id=\"toc-content-heading-3\">4. \uc2dc\uc7a5 \uc5ed\ud559<\/p>\n<ul>\n<li class=\"toc-level-2\">4.1 \uc2dc\uc7a5 \uac1c\uc694<\/li>\n<li class=\"toc-level-2\">4.2 \uc2dc\uc7a5 \ub3d9\uc778\n<ul>\n<li class=\"toc-level-3\">4.2.1 \ub2e4\uac01\ud654\ub41c \ud22c\uc790 \uc0c1\ud488\uc5d0 \ub300\ud55c \uc218\uc694<\/li>\n<li class=\"toc-level-3\">4.2.2 \uc99d\uad8c\ud654\uc758 \uae30\uc220 \ubc0f \uc790\ub3d9\ud654<\/li>\n<\/ul>\n<\/li>\n<li class=\"toc-level-2\">4.3 \uc2dc\uc7a5 \uc81c\uc57d\n<ul>\n<li class=\"toc-level-3\">4.3.1 \uc2e0\uc6a9 \uc704\ud5d8 \ubc0f \ucc44\ubb34 \ubd88\uc774\ud589 \uc6b0\ub824<\/li>\n<\/ul>\n<\/li>\n<li class=\"toc-level-2\">4.4 \ud3ec\ud130\uc758 5\uac00\uc9c0 \uacbd\uc7c1 \uc694\uc778 \ubd84\uc11d\n<ul>\n<li class=\"toc-level-3\">4.4.1 \uc2e0\uaddc \uc9c4\uc785\uc790\uc758 \uc704\ud611<\/li>\n<li class=\"toc-level-3\">4.4.2 \uad6c\ub9e4\uc790\/\uc18c\ube44\uc790\uc758 \uad50\uc12d\ub825<\/li>\n<li class=\"toc-level-3\">4.4.3 \uacf5\uae09\uc5c5\uccb4\uc758 \uad50\uc12d\ub825<\/li>\n<li class=\"toc-level-3\">4.4.4 \ub300\uccb4\uc7ac\uc758 \uc704\ud611<\/li>\n<li class=\"toc-level-3\">4.4.5 \uacbd\uc7c1 \uac15\ub3c4<\/li>\n<\/ul>\n<\/li>\n<li class=\"toc-level-2\">4.5 \uc0b0\uc5c5\uc758 \ucd5c\uc2e0 \ub3d9\ud5a5 \ubc0f \uae30\uc220 \ud601\uc2e0\uc5d0 \ub300\ud55c \ud1b5\ucc30<\/li>\n<li class=\"toc-level-2\">4.6 \uc2dc\uc7a5\uc5d0 \uc601\ud5a5\uc744 \ubbf8\uce58\ub294 \uaddc\uc81c \ud658\uacbd\uc5d0 \ub300\ud55c \ud1b5\ucc30<\/li>\n<\/ul>\n<p class=\"toc-level-1 toc-content-heading\" id=\"toc-content-heading-4\">5. \uc2dc\uc7a5 \uc138\ubd84\ud654<\/p>\n<ul>\n<li class=\"toc-level-2\">5.1 \uc720\ud615\ubcc4\n<ul>\n<li class=\"toc-level-3\">5.1.1 \uc0c1\uc5c5\uc6a9 MBS<\/li>\n<li class=\"toc-level-3\">5.1.2 \uc8fc\uac70\uc6a9 MBS<\/li>\n<\/ul>\n<\/li>\n<li class=\"toc-level-2\">5.2 \ubc1c\ud589\uae30\uad00\ubcc4\n<ul>\n<li class=\"toc-level-3\">5.2.1 \uc815\ubd80 \ud6c4\uc6d0 \uae30\uc5c5 (GSEs)<\/li>\n<li class=\"toc-level-3\">5.2.2 \uc815\ubd80 \uae30\uad00<\/li>\n<li class=\"toc-level-3\">5.2.3 \ubbfc\uac04 \uae08\uc735 \uae30\uad00<\/li>\n<\/ul>\n<\/li>\n<li class=\"toc-level-2\">5.3 \uc9c0\uc5ed\ubcc4\n<ul>\n<li class=\"toc-level-3\">5.3.1 \ubd81\ubbf8<\/li>\n<li class=\"toc-level-4\">5.3.1.1 \ubbf8\uad6d<\/li>\n<li class=\"toc-level-4\">5.3.1.2 \uce90\ub098\ub2e4<\/li>\n<li class=\"toc-level-4\">5.3.1.3 \uba55\uc2dc\ucf54<\/li>\n<li class=\"toc-level-4\">5.3.1.4 \uae30\ud0c0 \ubd81\ubbf8<\/li>\n<li class=\"toc-level-3\">5.3.2 \uc720\ub7fd<\/li>\n<li class=\"toc-level-4\">5.3.2.1 \ub3c5\uc77c<\/li>\n<li class=\"toc-level-4\">5.3.2.2 \uc601\uad6d<\/li>\n<li class=\"toc-level-4\">5.3.2.3 \ud504\ub791\uc2a4<\/li>\n<li class=\"toc-level-4\">5.3.2.4 \ub7ec\uc2dc\uc544<\/li>\n<li class=\"toc-level-4\">5.3.2.5 \uc2a4\ud398\uc778<\/li>\n<li class=\"toc-level-4\">5.3.2.6 \uae30\ud0c0 \uc720\ub7fd<\/li>\n<li class=\"toc-level-3\">5.3.3 \uc544\uc2dc\uc544 \ud0dc\ud3c9\uc591<\/li>\n<li class=\"toc-level-4\">5.3.3.1 \uc778\ub3c4<\/li>\n<li class=\"toc-level-4\">5.3.3.2 \uc911\uad6d<\/li>\n<li class=\"toc-level-4\">5.3.3.3 \uc77c\ubcf8<\/li>\n<li class=\"toc-level-4\">5.3.3.4 \uae30\ud0c0 \uc544\uc2dc\uc544 \ud0dc\ud3c9\uc591<\/li>\n<li class=\"toc-level-3\">5.3.4 \ub0a8\ubbf8<\/li>\n<li class=\"toc-level-4\">5.3.4.1 \ube0c\ub77c\uc9c8<\/li>\n<li class=\"toc-level-4\">5.3.4.2 \uc544\ub974\ud5e8\ud2f0\ub098<\/li>\n<li class=\"toc-level-4\">5.3.4.3 \uae30\ud0c0 \ub0a8\ubbf8<\/li>\n<li class=\"toc-level-3\">5.3.5 \uc911\ub3d9<\/li>\n<li class=\"toc-level-4\">5.3.5.1 UAE<\/li>\n<li class=\"toc-level-4\">5.3.5.2 \uc0ac\uc6b0\ub514\uc544\ub77c\ube44\uc544<\/li>\n<li class=\"toc-level-4\">5.3.5.3 \uae30\ud0c0 \uc911\ub3d9<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p class=\"toc-level-1 toc-content-heading\" id=\"toc-content-heading-5\">6. \uacbd\uc7c1 \ud658\uacbd<\/p>\n<ul>\n<li class=\"toc-level-2\">6.1 \uc2dc\uc7a5 \uc9d1\uc911\ub3c4 \uac1c\uc694<\/li>\n<li class=\"toc-level-2\">6.2 \uae30\uc5c5 \ud504\ub85c\ud544\n<ul>\n<li class=\"toc-level-3\">6.2.1 JP\ubaa8\uac74 \uccb4\uc774\uc2a4<\/li>\n<li class=\"toc-level-3\">6.2.2 \uace8\ub4dc\ub9cc\uc0ad\uc2a4<\/li>\n<li class=\"toc-level-3\">6.2.3 \ubc14\ud074\ub808\uc774\uc988<\/li>\n<li class=\"toc-level-3\">6.2.4 \uc911\uad6d\ucd08\uc0c1\uc99d\uad8c<\/li>\n<li class=\"toc-level-3\">6.2.5 \uac74\uc124\uc740\ud589<\/li>\n<li class=\"toc-level-3\">6.2.6 \uc5f0\ubc29\uad6d\ub9bd\ubaa8\uae30\uc9c0\ud611\ud68c<\/li>\n<li class=\"toc-level-3\">6.2.7 \ubc45\ud06c \uc624\ube0c \uc544\uba54\ub9ac\uce74 \ucf54\ud37c\ub808\uc774\uc158<\/li>\n<li class=\"toc-level-3\">6.2.8 \uc528\ud2f0\uadf8\ub8f9 Inc.<\/li>\n<li class=\"toc-level-3\">6.2.9 \uc5f0\ubc29\uc8fc\ud0dd\ub300\ucd9c\ubaa8\uae30\uc9c0\uacf5\uc0ac<\/li>\n<li class=\"toc-level-3\">6.2.10 \ube14\ub799\ub85d Inc.*<\/li>\n<\/ul>\n<\/li>\n<li><strong>*\ubaa9\ub85d\uc740 \uc804\uccb4\uac00 \uc544\ub2d8<\/strong><\/li>\n<\/ul>\n<p class=\"toc-level-1 toc-content-heading\" id=\"toc-content-heading-6\">7. \uc2dc\uc7a5 \uae30\ud68c \ubc0f \ubbf8\ub798 \ub3d9\ud5a5<\/p>\n<p class=\"toc-level-1 toc-content-heading\" id=\"toc-content-heading-7\">8. \uba74\ucc45 \uc870\ud56d \ubc0f \ud68c\uc0ac \uc18c\uac1c<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\ubaa8\uae30\uc9c0 \ub2f4\ubcf4 \uc99d\uad8c(MBS) \uc2dc\uc7a5 \uaddc\ubaa8 \ubc0f \uc810\uc720\uc728 \ubd84\uc11d: \uc131\uc7a5 \ub3d9\ud5a5 \ubc0f 2025-2030\ub144 \uc608\uce21<\/p>\n<p># 1. \uc2dc\uc7a5 \uac1c\uc694 \ubc0f \uc8fc\uc694 \uc218\uce58<\/p>\n<p>Mordor Intelligence \ubcf4\uace0\uc11c\uc5d0 \ub530\ub974\uba74, \ubaa8\uae30\uc9c0 \ub2f4\ubcf4 \uc99d\uad8c(MBS) \uc2dc\uc7a5\uc740 2025\ub144 15.55\uc870 \ub2ec\ub7ec\uc5d0\uc11c 2030\ub144 22.43\uc870 \ub2ec\ub7ec\ub85c \uc131\uc7a5\ud560 \uac83\uc73c\ub85c \uc608\uc0c1\ub418\uba70, \uc608\uce21 \uae30\uac04(2025-2030) \ub3d9\uc548 \uc5f0\ud3c9\uade0 \uc131\uc7a5\ub960(CAGR) 7.60%\ub97c \uae30\ub85d\ud560 \uc804\ub9dd\uc785\ub2c8\ub2e4. \uc774 \uc2dc\uc7a5\uc740 \ubd81\ubbf8 \uc9c0\uc5ed\uc774 \uac00\uc7a5 \ud070 \uc2dc\uc7a5\uc744 \ud615\uc131\ud558\uace0 \uc788\uc73c\uba70, \uc720\ub7fd\uc774 \uac00\uc7a5 \ube60\ub974\uac8c \uc131\uc7a5\ud558\ub294 \uc2dc\uc7a5\uc73c\ub85c \ub098\ud0c0\ub0ac\uc2b5\ub2c8\ub2e4. \uc2dc\uc7a5 \uc9d1\uc911\ub3c4\ub294 \uc911\uac04 \uc218\uc900\uc774\uba70, \uc8fc\uc694 \ud50c\ub808\uc774\uc5b4\ub85c\ub294 JPMorgan Chase, Goldman Sachs, Barclays, China Merchants Securities, Construction Bank \ub4f1\uc774 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\n<p># 2. \uc2dc\uc7a5 \ubd84\uc11d<\/p>\n<p>MBS \uc2dc\uc7a5\uc740 \ucd5c\uadfc \uba87 \ub144\uac04 \uafb8\uc900\ud55c \uc131\uc7a5\uacfc \ud68c\ubcf5\ub825\uc744 \ubcf4\uc5ec\uc654\uc2b5\ub2c8\ub2e4. \uc774\ub294 \uc800\uae08\ub9ac \uae30\uc870, \uc548\uc815\uc801\uc778 \uc8fc\ud0dd \uc2dc\uc7a5, \ubaa8\uae30\uc9c0 \ub300\ucd9c\uc744 \uc7a5\ub824\ud558\ub294 \uaddc\uc81c \uc870\uc815 \ub4f1\uc758 \uc694\uc778\uc5d0 \ud798\uc785\uc740 \ubc14 \ud07d\ub2c8\ub2e4. \uc18c\ube44\uc790 \uc2e0\ub8b0 \uac15\ud654\uc640 \ubaa8\uae30\uc9c0 \uae08\ub9ac \uc548\uc815\ud654\uc5d0 \ub530\ub77c \uc8fc\ud0dd \uac00\uaca9\uc758 \uc810\uc9c4\uc801\uc778 \uc0c1\uc2b9\uacfc \uc8fc\ud0dd \ud310\ub9e4 \uc99d\uac00\uac00 \uc608\uc0c1\ub418\uba70, \uc774\ub294 \uc2dc\uc7a5\uc758 \uc131\uc7a5 \uada4\ub3c4\ub97c \ub4b7\ubc1b\uce68\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\n<p>\uc8fc\ud0dd \uae08\uc735 \uc218\uc694 \uc99d\uac00\ub294 \uc0c8\ub85c\uc6b4 MBS \ubc1c\ud589 \uc99d\uac00\ub85c \uc774\uc5b4\uc9c8 \uac83\uc73c\ub85c \ubcf4\uc774\uba70, \ubaa8\uae30\uc9c0 \uc0c1\ud488 \ud601\uc2e0\uacfc \ud3ec\ud2b8\ud3f4\ub9ac\uc624 \ub2e4\uac01\ud654\ub97c \ucd94\uad6c\ud558\ub294 \uae30\uad00 \ud22c\uc790\uc790\ub4e4\uc758 \uad00\uc2ec \uc99d\ub300\uac00 \uc774\ub97c \ub4b7\ubc1b\uce68\ud560 \uac83\uc785\ub2c8\ub2e4. \ud2b9\ud788 \uc815\ubd80 \ubcf4\uc99d MBS\ub294 \uc720\ub3d9\uc131\uacfc \ub0ae\uc740 \uc704\ud5d8 \ud504\ub85c\ud544 \ub355\ubd84\uc5d0 \ud22c\uc790\uc790\ub4e4\uc5d0\uac8c \uacc4\uc18d\ud574\uc11c \uc911\uc694\ud55c \ud22c\uc790\ucc98\uac00 \ub420 \uac83\uc785\ub2c8\ub2e4.<\/p>\n<p>MBS\ub294 \uae00\ub85c\ubc8c \uae08\uc735 \uc2dc\uc2a4\ud15c\uc758 \ud575\uc2ec \uc694\uc18c\ub85c, \uc5ec\ub7ec \uc8fc\ud0dd \ub300\ucd9c\uc744 \ud1b5\ud569\ud558\uc5ec \ud22c\uc790\uc790\uc5d0\uac8c \ucc44\uad8c \ud615\ud0dc\ub85c \ud310\ub9e4\ud558\ub294 \ud22c\uc790 \uc0c1\ud488\uc785\ub2c8\ub2e4. \uc8fc\ud0dd \uc18c\uc720\uc790\uc758 \ubaa8\uae30\uc9c0 \uc0c1\ud658\uae08\uc73c\ub85c\ubd80\ud130 \uafb8\uc900\ud55c \uc218\uc785 \ud750\ub984\uc744 \uc81c\uacf5\ud569\ub2c8\ub2e4. 2023\ub144 \uc911\ubc18 \uae30\uc900, \ubbf8\uad6d \uc5f0\ubc29\uc900\ube44\uc81c\ub3c4(Federal Reserve)\ub294 11\uc870 \ub2ec\ub7ec \uc774\uc0c1\uc758 MBS\uac00 \ubc1c\ud589\ub418\uc5b4 \uc788\uc74c\uc744 \ubcf4\uace0\ud558\uba70, \uc774\ub294 \uc8fc\ud0dd \uc2dc\uc7a5\uacfc \uad11\ubc94\uc704\ud55c \uacbd\uc81c\uc5d0 \ub300\ud55c MBS\uc758 \uc911\uc694\uc131\uc744 \uac15\uc870\ud569\ub2c8\ub2e4.<\/p>\n<p>\ubbf8\uad6d \uacbd\uc81c\uac00 \ud68c\ubcf5\uc138\ub97c \uc9c0\uc18d\ud568\uc5d0 \ub530\ub77c \uc8fc\ud0dd \uc218\uc694\uac00 \uc99d\uac00\ud560 \uac83\uc73c\ub85c \uc608\uc0c1\ub418\uba70, \uc774\ub294 MBS \uc2dc\uc7a5\uc758 \ucd94\uac00 \uc131\uc7a5\uc744 \uacac\uc778\ud560 \uac83\uc785\ub2c8\ub2e4. Freddie Mac\uacfc Fannie Mae\uc640 \uac19\uc740 \uc815\ubd80 \ud6c4\uc6d0 \uae30\uc5c5(GSE)\uc758 \uc8fc\ud0dd \uae08\uc735 \uc811\uadfc\uc131 \ud5a5\uc0c1 \ub178\ub825 \ub610\ud55c \uc774\ub7ec\ud55c \uc0c1\uc2b9 \ucd94\uc138\uc5d0 \uae30\uc5ec\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\n<p>\ubaa8\uae30\uc9c0 \ub300\ucd9c\uacfc \uad00\ub828\ub41c \uc2e0\uc6a9 \uc704\ud5d8\uc740 MBS \uc2dc\uc7a5\uc5d0 \uc601\ud5a5\uc744 \ubbf8\uce58\ub294 \uc911\uc694\ud55c \uc694\uc18c\uc785\ub2c8\ub2e4. \ud22c\uc790\uc790\ub4e4\uc740 \ucc28\uc785\uc790 \ucc44\ubb34 \ubd88\uc774\ud589 \uac00\ub2a5\uc131\uacfc \uc774\uac83\uc774 MBS \uc131\uacfc\uc5d0 \ubbf8\uce58\ub294 \uc601\ud5a5\uc744 \uace0\ub824\ud574\uc57c \ud569\ub2c8\ub2e4. \uadf8\ub7ec\ub098 \uc5c4\uaca9\ud55c \ub300\ucd9c \uc2ec\uc0ac \uae30\uc900\uacfc \uc804\ubc18\uc801\uc778 \uc8fc\ud0dd \uc2dc\uc7a5\uc774 \uc548\uc815\uc801\uc73c\ub85c \uc720\uc9c0\ub41c\ub2e4\uba74, \uc2e0\uaddc \ubc1c\ud589 MBS\uc758 \uc2e0\uc6a9 \ud488\uc9c8\uc740 \uacac\uace0\ud558\uac8c \uc720\uc9c0\ub418\uc5b4 \ud22c\uc790\uc790\ub4e4\uc5d0\uac8c \ub354\uc6b1 \ub9e4\ub825\uc801\uc778 \uc0c1\ud488\uc774 \ub420 \uac83\uc73c\ub85c \uae30\ub300\ub429\ub2c8\ub2e4.<\/p>\n<p># 3. \uc8fc\uc694 \uc2dc\uc7a5 \ub3d9\ud5a5 \ubc0f \ud1b5\ucc30<\/p>\n<p> 3.1. \uc8fc\ud0dd \uae08\uc735 \uc218\uc694 \uc99d\uac00<\/p>\n<p>\uc8fc\ud0dd \uae08\uc735 \uc218\uc694 \uc99d\uac00\ub294 \uc0c8\ub85c\uc6b4 MBS \ubc1c\ud589 \uc99d\uac00\ub97c \uc774\ub04c \uac83\uc73c\ub85c \uc608\uc0c1\ub429\ub2c8\ub2e4. \uc774\ub294 \uc8fc\ub85c \ubaa8\uae30\uc9c0 \uc0c1\ud488\uc758 \ud601\uc2e0\uacfc \ud3ec\ud2b8\ud3f4\ub9ac\uc624 \ub2e4\uac01\ud654\ub97c \ubaa8\uc0c9\ud558\ub294 \uae30\uad00 \ud22c\uc790\uc790\ub4e4\uc758 \uad00\uc2ec \uc99d\ub300\uc5d0 \uae30\uc778\ud569\ub2c8\ub2e4. \uc815\ubd80 \ubcf4\uc99d MBS\ub294 \ub192\uc740 \uc720\ub3d9\uc131\uacfc \ub0ae\uc740 \uc704\ud5d8 \ud2b9\uc131\uc73c\ub85c \uc778\ud574 \ud22c\uc790\uc790\ub4e4\uc5d0\uac8c \uacc4\uc18d\ud574\uc11c \uc911\uc694\ud55c \ucd08\uc810\uc774 \ub420 \uac83\uc785\ub2c8\ub2e4.<\/p>\n<p>MBS \uc2dc\uc7a5\uc758 \ud655\ub300\ub294 \uc8fc\ud0dd \uc18c\uc720\ub97c \ucd94\uad6c\ud558\uac70\ub098 \uc7ac\uc735\uc790\ub97c \uc6d0\ud558\ub294 \uac1c\uc778 \ubc0f \uac00\uc871\uc758 \uc99d\uac00\uc640 \ubc00\uc811\ud558\uac8c \uc5f0\uad00\ub418\uc5b4 \uc788\uc2b5\ub2c8\ub2e4. \uc5ed\uc0ac\uc801\uc73c\ub85c \ub0ae\uc740 \uae08\ub9ac, \uc778\uad6c \uc99d\uac00, \uc8fc\ud0dd \uc18c\uc720\uc5d0 \ub300\ud55c \uc9c0\uc18d\uc801\uc778 \uc120\ud638, \uadf8\ub9ac\uace0 \ubcc0\ud654\ud558\ub294 \ub77c\uc774\ud504\uc2a4\ud0c0\uc77c \ud2b8\ub80c\ub4dc\uc640 \uc6d0\uaca9 \uadfc\ubb34\uc758 \ud655\uc0b0 \ub4f1\uc774 \uc774\ub7ec\ud55c \uc218\uc694 \uc99d\uac00\uc5d0 \uae30\uc5ec\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4. \ub354 \ub9ce\uc740 \ucc28\uc785\uc790\ub4e4\uc774 \uc8fc\ud0dd \uc2dc\uc7a5\uc5d0 \uc9c4\uc785\ud568\uc5d0 \ub530\ub77c \ub300\ucd9c \uae30\uad00\ub4e4\uc740 \uae08\uc735 \uc635\uc158 \uc81c\uacf5 \ub178\ub825\uc744 \uac15\ud654\ud558\uace0 \uc788\uc73c\uba70, \uc774\ub294 \ub354 \ub9ce\uc740 \ubaa8\uae30\uc9c0 \ubc1c\uc0dd\uc73c\ub85c \uc774\uc5b4\uc9d1\ub2c8\ub2e4. \uc774 \ubaa8\uae30\uc9c0\ub4e4\uc740 \ud480\ub9c1\ub418\uc5b4 MBS\ub85c \ud310\ub9e4\ub418\uba70, \uc774\ub294 \ub300\ucd9c \uae30\uad00\uc758 \uc720\ub3d9\uc131\uc744 \ub192\uc774\uace0 \ucd94\uac00 \ub300\ucd9c \ubc1c\ud589\uc5d0 \ud544\uc694\ud55c \uc790\ubcf8\uc744 \uc81c\uacf5\ud558\ub294 2\ucc28 \uc2dc\uc7a5\uc744 \ud615\uc131\ud569\ub2c8\ub2e4.<\/p>\n<p>MBS\ub294 \uc77c\ubc18\uc801\uc73c\ub85c \ubd80\ub3d9\uc0b0 \uc790\uc0b0\uc744 \ub2f4\ubcf4\ub85c \ud558\ub294 \uc548\uc804\ud55c \ud22c\uc790\ub85c \uac04\uc8fc\ub418\ubbc0\ub85c, \uc548\uc815\uc801\uc778 \uc218\uc775\uc744 \ucd94\uad6c\ud558\ub294 \ub2e4\uc591\ud55c \ud22c\uc790\uc790\ub4e4\uc744 \uc720\uce58\ud569\ub2c8\ub2e4. \ub610\ud55c, \uc628\ub77c\uc778 \ub300\ucd9c \ud50c\ub7ab\ud3fc \ubc0f \uc790\ub3d9\ud654\ub41c \ub300\ucd9c \uc2ec\uc0ac \uc2dc\uc2a4\ud15c\uacfc \uac19\uc740 \ubaa8\uae30\uc9c0 \ubd80\ubb38\uc758 \uae30\uc220 \ubc1c\uc804\uc740 \uae08\uc735 \uc811\uadfc\uc131\uc744 \uac04\uc18c\ud654\ud588\uc2b5\ub2c8\ub2e4. \uc774\ub7ec\ud55c \uc811\uadfc\uc131 \uac1c\uc120\uc740 \ucd5c\ucd08 \uc8fc\ud0dd \uad6c\ub9e4\uc790 \ubc0f \uc2e0\uc6a9 \ub4f1\uae09\uc774 \uc644\ubcbd\ud558\uc9c0 \uc54a\uc740 \uac1c\uc778\uc744 \ud3ec\ud568\ud55c \ub354 \ub113\uc740 \ubc94\uc704\uc758 \ucc28\uc785\uc790\ub4e4\uc744 \uc720\uce58\ud558\uc5ec \uc99d\uad8c\ud654 \uac00\ub2a5\ud55c \ubaa8\uae30\uc9c0 \ud480\uc744 \ud655\uc7a5\ud560 \uac83\uc73c\ub85c \uc608\uc0c1\ub429\ub2c8\ub2e4.<\/p>\n<p>\uc8fc\ud0dd \uae08\uc735 \uc218\uc694 \uc99d\uac00\uc5d0 \ub530\ub978 MBS \uc2dc\uc7a5\uc758 \uc9c0\uc18d\uc801\uc778 \uc131\uc7a5\uc740 \uc8fc\ud0dd \uc790\uae08 \uc870\ub2ec\uc744 \ucd09\uc9c4\ud558\uace0, \uac74\uc124 \ubc0f \uad00\ub828 \uc0b0\uc5c5\uc758 \uc77c\uc790\ub9ac \ucc3d\ucd9c\uc744 \uc9c0\uc6d0\ud558\uba70, \uae08\uc735 \uc2dc\uc2a4\ud15c \uc548\uc815\uc5d0 \uae30\uc5ec\ud568\uc73c\ub85c\uc368 \uad11\ubc94\uc704\ud55c \uacbd\uc81c\uc5d0\uc11c \uc911\uc694\ud55c \uc5ed\ud560\uc744 \ud569\ub2c8\ub2e4. \uacb0\ub860\uc801\uc73c\ub85c, \uc8fc\ud0dd \uae08\uc735 \uc218\uc694 \uc99d\uac00\uc640 MBS \uc2dc\uc7a5 \ud655\ub300 \uac04\uc758 \uc0c1\ud638 \uc791\uc6a9\uc740 \ucc28\uc785\uc790, \ub300\ucd9c \uae30\uad00 \ubc0f \ud22c\uc790\uc790 \ubaa8\ub450\uc5d0\uac8c \uc774\uc775\uc774 \ub418\ub294 \uc5ed\ub3d9\uc801\uc778 \ud504\ub808\uc784\uc6cc\ud06c\ub97c \uad6c\ucd95\ud569\ub2c8\ub2e4.<\/p>\n<p> 3.2. \ubd81\ubbf8 \uc9c0\uc5ed \uc2dc\uc7a5 \uc9c0\ubc30<\/p>\n<p>\ubaa8\uae30\uc9c0 \ub2f4\ubcf4 \uc99d\uad8c(MBS) \uc2dc\uc7a5\uc740 \uae00\ub85c\ubc8c \uae08\uc735 \uc2dc\uc2a4\ud15c\uc758 \ucd08\uc11d\uc73c\ub85c\uc11c \ubaa8\uae30\uc9c0 \ub300\ucd9c \uae30\uad00\uc5d0 \uc720\ub3d9\uc131\uc744 \uc81c\uacf5\ud558\uace0 \uad11\ubc94\uc704\ud55c \uc8fc\ud0dd \uc18c\uc720\ub97c \uac00\ub2a5\ud558\uac8c \ud569\ub2c8\ub2e4. \ubd81\ubbf8 MBS \uc2dc\uc7a5\uc740 \uae08\uc735 \uc0dd\ud0dc\uacc4 \ub0b4\uc5d0\uc11c \uc911\uc694\ud55c \ubd80\ubd84\uc744 \ucc28\uc9c0\ud558\uba70 \uc8fc\ud0dd \uae08\uc735 \ubc0f \uad11\ubc94\uc704\ud55c \uacbd\uc81c\uc5d0 \uc0c1\ub2f9\ud55c \uc601\ud5a5\uc744 \ubbf8\uce69\ub2c8\ub2e4.<\/p>\n<p>MBS\ub294 \uc5ec\ub7ec \ubaa8\uae30\uc9c0 \ub300\ucd9c\uc744 \ud558\ub098\uc758 \ud480\ub85c \ud1b5\ud569\ud558\uace0 \uc774 \ud480\uc758 \uc9c0\ubd84\uc744 \ud22c\uc790\uc790\uc5d0\uac8c \ud310\ub9e4\ud558\ub294 \ubc29\uc2dd\uc73c\ub85c \uad6c\uc131\ub429\ub2c8\ub2e4. \uc774 \uacfc\uc815\uc744 \ud1b5\ud574 \ub300\ucd9c \uae30\uad00\uc740 \ucd94\uac00 \ub300\ucd9c \ubc1c\ud589\uc744 \uc704\ud55c \uc790\ubcf8\uc744 \ud655\ubcf4\ud558\uace0, \ud22c\uc790\uc790\ub4e4\uc740 \uc8fc\ud0dd \uc18c\uc720\uc790\uc758 \ubaa8\uae30\uc9c0 \uc0c1\ud658\uae08\uc5d0\uc11c \ud30c\uc0dd\ub418\ub294 \uafb8\uc900\ud55c \uc218\uc785 \ud750\ub984\uc744 \uc5bb\uc2b5\ub2c8\ub2e4. \ubbfc\uac04 \uae08\uc735 \uae30\uad00\uc774 \ubc1c\ud589\ud558\ub294 MBS\ub294 \uc815\ubd80 \ubcf4\uc99d\uc774 \uc5c6\uc5b4 \uc704\ud5d8 \ud504\ub85c\ud544\uc774 \ub192\uc9c0\ub9cc, \ub354 \ub192\uc740 \uc218\uc775\uc744 \uc5bb\uc744 \uc7a0\uc7ac\ub825\uc774 \uc788\uc2b5\ub2c8\ub2e4. \uc740\ud589\uacfc \ubaa8\uae30\uc9c0 \ub300\ucd9c \uae30\uad00\uc740 \ub300\ucd9c\uc744 \ubc1c\uc0dd\uc2dc\ucf1c MBS\ub85c \ud480\ub9c1\ud558\uace0 \uc2dc\uc7a5\uc5d0 \uc720\ud1b5\ud569\ub2c8\ub2e4. \uae30\uad00 \ud22c\uc790\uc790, \ud5e4\uc9c0 \ud380\ub4dc, \uc5f0\uae30\uae08 \ubc0f \uac1c\uc778 \ud22c\uc790\uc790\ub4e4\uc740 \uc18c\ub4dd \ucc3d\ucd9c \ubc0f \ud3ec\ud2b8\ud3f4\ub9ac\uc624 \ub2e4\uac01\ud654\ub97c \uc704\ud574 MBS\ub97c \ub9e4\uc785\ud569\ub2c8\ub2e4. \ub610\ud55c, \uc804\ubb38 \uae30\uad00\ub4e4\uc774 \ubaa8\uae30\uc9c0 \uc0c1\ud658\uae08 \uc9d5\uc218 \ubc0f \ub300\ucd9c \uad00\ub9ac\ub97c \ub2f4\ub2f9\ud569\ub2c8\ub2e4.<\/p>\n<p>MBS \uc2dc\uc7a5\uc740 \uae08\ub9ac \ubcc0\ub3d9\uc5d0 \ubbfc\uac10\ud569\ub2c8\ub2e4. \uae08\ub9ac\uac00 \uc0c1\uc2b9\ud558\uba74 \uc77c\ubc18\uc801\uc73c\ub85c \uc7ac\uc735\uc790 \ud65c\ub3d9\uc774 \uc5b5\uc81c\ub418\uace0, \uae08\ub9ac\uac00 \ud558\ub77d\ud558\uba74 \uc870\uae30 \uc0c1\ud658 \uc704\ud5d8\uc774 \uc99d\uac00\ud569\ub2c8\ub2e4. MBS \uc2dc\uc7a5\uc740 \uc6d0\ub798 \ubaa8\uae30\uc9c0 \ub300\ucd9c\uacfc \ud22c\uc790 \ud65c\ub3d9\uc744 \ubd84\ub9ac\ud558\uae30 \uc704\ud574 \uac1c\ubc1c\ub418\uc5c8\uc2b5\ub2c8\ub2e4. \ubbf8\uad6d MBS \uc2dc\uc7a5\uc740 11\uc870 \ub2ec\ub7ec \uc774\uc0c1\uc758 \ubc1c\ud589 \uc794\uc561\uacfc \uc77c\uc77c \ud3c9\uade0 \uc57d 3\ucc9c\uc5b5 \ub2ec\ub7ec\uc758 \uac70\ub798\ub7c9\uc744 \uc790\ub791\ud558\uba70, \uc804 \uc138\uacc4\uc5d0\uc11c \uac00\uc7a5 \ud06c\uace0 \uc720\ub3d9\uc131\uc774 \ub192\uc740 \ucc44\uad8c \uc2dc\uc7a5 \uc911 \ud558\ub098\uc785\ub2c8\ub2e4. \ubbf8\uad6d \uc678\uc5d0\ub3c4 MBS \ubc0f \ucee4\ubc84\ub4dc \ubcf8\ub4dc\uc640 \uac19\uc740 \uad00\ub828 \uc0c1\ud488\uc740 \ub2e4\uc591\ud55c \uc720\ub7fd \uad6d\uac00 \ubc0f \uae30\ud0c0 \uc9c0\uc5ed\uc5d0\uc11c \ubaa8\uae30\uc9c0 \uc790\uae08 \uc870\ub2ec\uc5d0 \ud65c\uc6a9\ub429\ub2c8\ub2e4. Fannie Mae, Freddie Mac \ub610\ub294 Ginnie Mae\uc640 \uac19\uc740 \uc8fc\ud0dd \uae30\uad00\uc758 \uc2e0\uc6a9 \ubcf4\uc99d\uc744 \ubc1b\ub294 MBS\ub97c \uae30\uad00 MBS(Agency MBS)\ub77c\uace0 \ud569\ub2c8\ub2e4.<\/p>\n<p># 4. \uacbd\uc7c1 \ud658\uacbd<\/p>\n<p>\uae00\ub85c\ubc8c \ubaa8\uae30\uc9c0 \ub2f4\ubcf4 \uc99d\uad8c(MBS) \uc2dc\uc7a5\uc740 \ud1b5\ud569\ub41c \uad6c\uc870\ub97c \ubcf4\uc774\uba70, JPMorgan Chase, Goldman Sachs, Barclays\uc640 \uac19\uc740 \uc8fc\uc694 \ud22c\uc790 \uc740\ud589 \ubc0f \uae08\uc735 \uae30\uad00\ub4e4\uc774 \uc0c1\ub2f9\ud55c \uc2dc\uc7a5 \uc810\uc720\uc728\uc744 \ucc28\uc9c0\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4. \ubbf8\uad6d\uacfc \uc720\ub7fd\uacfc \uac19\uc740 \uc9c0\uc5ed\uc740 \ud504\ub85c\uc138\uc2a4\uc640 \uc0c1\ud488\uc758 \ud45c\uc900\ud654 \uc218\uc900\uc774 \ub192\uc544 \uc120\ub3c4 \uae30\uc5c5\ub4e4 \uc0ac\uc774\uc5d0\uc11c \uc2dc\uc7a5 \ud65c\ub3d9\uc774 \uc9d1\uc911\ub418\ub294 \uacbd\ud5a5\uc774 \uc788\uc2b5\ub2c8\ub2e4. \uc8fc\uc694 \uc0b0\uc5c5 \ub9ac\ub354\ub85c\ub294 JPMorgan Chase, Goldman Sachs, Barclays, China Merchants Securities, Construction Bank \ub4f1\uc774 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\n<p># 5. \ucd5c\uadfc \uc0b0\uc5c5 \ub3d9\ud5a5<\/p>\n<p>*   2024\ub144 9\uc6d4: \uace8\ub4dc\ub9cc\uc0ad\uc2a4 \uadf8\ub8f9(Goldman Sachs Group Inc)\uc740 Spark I Acquisition Corp(SPKL)\uc758 \uc8fc\uc2dd 424,199\uc8fc\ub97c \uc57d 445\ub9cc \ub2ec\ub7ec\uc5d0 \uc778\uc218\ud558\uba70 \ud22c\uc790 \ud3ec\ud2b8\ud3f4\ub9ac\uc624\ub97c \uac15\ud654\ud588\uc2b5\ub2c8\ub2e4. \uc774\ub294 \uace8\ub4dc\ub9cc\uc0ad\uc2a4\uc758 \uc0c8\ub85c\uc6b4 \ubcf4\uc720 \uc790\uc0b0\uc73c\ub85c, \uc8fc\ub2f9 \ud3c9\uade0 10.488\ub2ec\ub7ec\uc5d0 \ucde8\ub4dd\ub418\uc5c8\uc73c\uba70, \ud22c\uc790 \ud3ec\ud2b8\ud3f4\ub9ac\uc624\ub97c \ub2e4\uac01\ud654\ud558\uace0 \uac15\ud654\ud558\ub824\ub294 \uc804\ub7b5\uc801 \ub178\ub825\uc744 \ubcf4\uc5ec\uc90d\ub2c8\ub2e4.<br \/>\n*   2024\ub144 5\uc6d4: \ubc14\ud074\ub808\uc774\uc988(Barclays)\ub294 \uc774\ud0c8\ub9ac\uc544 \uc8fc\ud0dd \ub300\ucd9c \ud3ec\ud2b8\ud3f4\ub9ac\uc624\ub97c GoldenTree Asset Management\uc5d0 \ub9e4\uac01\ud558\uae30 \uc704\ud574 \ubaa8\uae30\uc9c0 \ub2f4\ubcf4 \uc99d\uad8c \uac70\ub798\ub97c \uad6c\uc870\ud654\ud588\uc2b5\ub2c8\ub2e4. \uc774 \uacc4\uc57d\uc758 \uc77c\ud658\uc73c\ub85c \ubc14\ud074\ub808\uc774\uc988\ub294 41\uc5b5 \uc720\ub85c(\uc57d 60\uc5b5 \uc2f1\uac00\ud3ec\ub974 \ub2ec\ub7ec) \uc0c1\ub2f9\uc758 \ubaa8\uae30\uc9c0\ub97c Miltonia Mortgage Finance Srl\uc774\ub77c\ub294 \ud2b9\uc218\ubaa9\uc801\ubc95\uc778(SPV)\uc73c\ub85c \uc774\uc804\ud588\uc2b5\ub2c8\ub2e4. Miltonia\ub294 \uc774 \ubaa8\uae30\uc9c0 \uc790\uc0b0\uc744 \ub2f4\ubcf4\ub85c \ud558\ub294 \ucc44\uad8c\uc744 \ubc1c\ud589\ud560 \uc608\uc815\uc785\ub2c8\ub2e4.<\/p>\n<p>\ubcf8 \ubcf4\uace0\uc11c\ub294 \uc8fc\ud0dd\uc800\ub2f9\uc99d\uad8c(MBS) \uc2dc\uc7a5\uc5d0 \ub300\ud55c \uc2ec\uce35\uc801\uc778 \ubd84\uc11d\uc744 \uc81c\uacf5\ud569\ub2c8\ub2e4. MBS\ub294 \ub2e4\uc218\uc758 \uc8fc\ud0dd\ub2f4\ubcf4\ub300\ucd9c \ucc44\uad8c\uc744 \ud558\ub098\uc758 \ud480\ub85c \ud1b5\ud569\ud558\uc5ec \ud604\uae08 \ud750\ub984\uc5d0 \ub300\ud55c \uad8c\ub9ac\ub97c \ud22c\uc790\uc790\uc5d0\uac8c \uc81c\uacf5\ud558\ub294 \uae08\uc735 \uc0c1\ud488\uc73c\ub85c, \uc774\ub7ec\ud55c \uc99d\uad8c\ud654 \uacfc\uc815\uc744 \ud1b5\ud574 \ubc1c\ud589\ub429\ub2c8\ub2e4. \ubcf8 \uc5f0\uad6c\ub294 \uc2dc\uc7a5\uc758 \uc815\uc758\uc640 \uac00\uc815\uc744 \uba85\ud655\ud788 \ud558\uace0, \ud3ec\uad04\uc801\uc778 \uc5f0\uad6c \ubc29\ubc95\ub860\uc744 \uae30\ubc18\uc73c\ub85c \uc2dc\uc7a5\uc758 \uc804\ubc18\uc801\uc778 \uc0c1\ud669\uc744 \uc870\uba85\ud569\ub2c8\ub2e4.<\/p>\n<p>MBS \uc2dc\uc7a5\uc740 2024\ub144 14.37\uc870 \ub2ec\ub7ec \uaddc\ubaa8\ub85c \ucd94\uc815\ub418\uc5c8\uc73c\uba70, 2025\ub144\uc5d0\ub294 15.55\uc870 \ub2ec\ub7ec\uc5d0 \uc774\ub97c \uac83\uc73c\ub85c \uc804\ub9dd\ub429\ub2c8\ub2e4. \ub098\uc544\uac00 2025\ub144\ubd80\ud130 2030\ub144\uae4c\uc9c0 \uc5f0\ud3c9\uade0 7.60%\uc758 \uacac\uace0\ud55c \uc131\uc7a5\ub960\uc744 \uae30\ub85d\ud558\uba70, 2030\ub144\uc5d0\ub294 22.43\uc870 \ub2ec\ub7ec \uaddc\ubaa8\uc5d0 \ub3c4\ub2ec\ud560 \uac83\uc73c\ub85c \uc608\uce21\ub429\ub2c8\ub2e4.<\/p>\n<p>\uc2dc\uc7a5\uc740 \ub2e4\uc591\ud55c \uae30\uc900\uc5d0 \ub530\ub77c \uc138\ubd84\ud654\ub418\uc5b4 \ubd84\uc11d\ub429\ub2c8\ub2e4. \uc720\ud615\ubcc4\ub85c\ub294 \uc0c1\uc5c5\uc6a9 MBS\uc640 \uc8fc\uac70\uc6a9 MBS\ub85c \uad6c\ubd84\ub418\uba70, \ubc1c\ud589\uae30\uad00\ubcc4\ub85c\ub294 \uc815\ubd80 \ud6c4\uc6d0 \uae30\uc5c5(GSEs), \uc815\ubd80 \uae30\uad00, \uadf8\ub9ac\uace0 \ubbfc\uac04 \uae08\uc735 \uae30\uad00\uc73c\ub85c \ub098\ub269\ub2c8\ub2e4. \uc9c0\uc5ed\ubcc4\ub85c\ub294 \ubd81\ubbf8(\ubbf8\uad6d, \uce90\ub098\ub2e4, \uba55\uc2dc\ucf54 \ub4f1), \uc720\ub7fd(\ub3c5\uc77c, \uc601\uad6d, \ud504\ub791\uc2a4, \ub7ec\uc2dc\uc544, \uc2a4\ud398\uc778 \ub4f1), \uc544\uc2dc\uc544 \ud0dc\ud3c9\uc591(\uc778\ub3c4, \uc911\uad6d, \uc77c\ubcf8 \ub4f1), \ub0a8\ubbf8(\ube0c\ub77c\uc9c8, \uc544\ub974\ud5e8\ud2f0\ub098 \ub4f1), \uc911\ub3d9(UAE, \uc0ac\uc6b0\ub514\uc544\ub77c\ube44\uc544 \ub4f1)\uc73c\ub85c \uad11\ubc94\uc704\ud558\uac8c \ubd84\ub958\ub418\uc5b4 \uac01 \uc9c0\uc5ed\uc758 \uc2dc\uc7a5 \uaddc\ubaa8\uc640 \uc804\ub9dd\uc744 \uc81c\uc2dc\ud569\ub2c8\ub2e4.<\/p>\n<p>\uc2dc\uc7a5 \uc5ed\ud559 \uce21\uba74\uc5d0\uc11c, \uc8fc\uc694 \uc131\uc7a5 \ub3d9\uc778\uc73c\ub85c\ub294 \ub2e4\uac01\ud654\ub41c \ud22c\uc790 \uc0c1\ud488\uc5d0 \ub300\ud55c \ud22c\uc790\uc790 \uc218\uc694 \uc99d\uac00\uc640 \uc99d\uad8c\ud654 \uacfc\uc815\uc5d0\uc11c\uc758 \uae30\uc220 \ubc0f \uc790\ub3d9\ud654 \ubc1c\uc804\uc774 \uaf3d\ud799\ub2c8\ub2e4. \uc774\ub294 \uc2dc\uc7a5\uc758 \ud6a8\uc728\uc131\uc744 \ub192\uc774\uace0 \uc0c8\ub85c\uc6b4 \ud22c\uc790 \uae30\ud68c\ub97c \ucc3d\ucd9c\ud558\ub294 \uc694\uc778\uc73c\ub85c \uc791\uc6a9\ud569\ub2c8\ub2e4. \ubc18\uba74, \uc2e0\uc6a9 \uc704\ud5d8 \ubc0f \ucc44\ubb34 \ubd88\uc774\ud589\uc5d0 \ub300\ud55c \uc6b0\ub824\ub294 \uc2dc\uc7a5 \uc131\uc7a5\uc744 \uc81c\uc57d\ud558\ub294 \uc8fc\uc694 \uc694\uc778\uc73c\ub85c \ubd84\uc11d\ub429\ub2c8\ub2e4. \ubcf4\uace0\uc11c\ub294 \ub610\ud55c \ud3ec\ud130\uc758 5\uac00\uc9c0 \uacbd\uc7c1 \uc694\uc778 \ubd84\uc11d(\uc2e0\uaddc \uc9c4\uc785\uc790\uc758 \uc704\ud611, \uad6c\ub9e4\uc790\/\uc18c\ube44\uc790\uc758 \uad50\uc12d\ub825, \uacf5\uae09\uc790\uc758 \uad50\uc12d\ub825, \ub300\uccb4\uc7ac\uc758 \uc704\ud611, \uacbd\uc7c1 \uac15\ub3c4)\uc744 \ud1b5\ud574 \uc2dc\uc7a5\uc758 \uacbd\uc7c1 \ud658\uacbd\uc744 \uc2ec\uce35\uc801\uc73c\ub85c \ud3c9\uac00\ud569\ub2c8\ub2e4. \ucd5c\uc2e0 \ub3d9\ud5a5, \uae30\uc220 \ud601\uc2e0, \uadf8\ub9ac\uace0 \uc2dc\uc7a5\uc5d0 \uc601\ud5a5\uc744 \ubbf8\uce58\ub294 \uaddc\uc81c \ud658\uacbd\uc5d0 \ub300\ud55c \ud1b5\ucc30\ub825\ub3c4 \uc81c\uacf5\ub429\ub2c8\ub2e4.<\/p>\n<p>\uc9c0\uc5ed\ubcc4 \ubd84\uc11d\uc5d0\uc11c\ub294 2025\ub144 \ubd81\ubbf8\uac00 \uac00\uc7a5 \ud070 \uc2dc\uc7a5 \uc810\uc720\uc728\uc744 \ucc28\uc9c0\ud560 \uac83\uc73c\ub85c \uc608\uc0c1\ub418\uba70, \uc720\ub7fd\uc740 \uc608\uce21 \uae30\uac04(2025-2030\ub144) \ub3d9\uc548 \uac00\uc7a5 \ub192\uc740 \uc5f0\ud3c9\uade0 \uc131\uc7a5\ub960\uc744 \uae30\ub85d\ud558\uba70 \ube60\ub974\uac8c \uc131\uc7a5\ud560 \uac83\uc73c\ub85c \uc804\ub9dd\ub429\ub2c8\ub2e4.<\/p>\n<p>\uacbd\uc7c1 \ud658\uacbd \ubd80\ubb38\uc5d0\uc11c\ub294 JPMorgan Chase, Goldman Sachs, Barclays, China Merchants Securities, Construction Bank, Federal National Mortgage Association, Bank of America Corporation, Citigroup Inc., Federal Home Loan Mortgage Corporation, BlackRock, Inc. \ub4f1 \uc8fc\uc694 \uc2dc\uc7a5 \ucc38\uc5ec \uae30\uc5c5\ub4e4\uc758 \ud504\ub85c\ud544\uacfc \uc2dc\uc7a5 \uc9d1\uc911\ub3c4\uc5d0 \ub300\ud55c \uac1c\uc694\ub97c \ub2e4\ub8f9\ub2c8\ub2e4.<\/p>\n<p>\ubcf8 \ubcf4\uace0\uc11c\ub294 \uc774\ub7ec\ud55c \ubd84\uc11d\uc744 \ubc14\ud0d5\uc73c\ub85c MBS \uc2dc\uc7a5\uc758 \ubbf8\ub798 \uae30\ud68c\uc640 \uc8fc\uc694 \ub3d9\ud5a5\uc744 \uc81c\uc2dc\ud558\uba70, \ud22c\uc790\uc790\uc640 \uc2dc\uc7a5 \ucc38\uc5ec\uc790\ub4e4\uc774 \uc804\ub7b5\uc801 \uc758\uc0ac\uacb0\uc815\uc744 \ub0b4\ub9ac\ub294 \ub370 \ud544\uc694\ud55c \ud575\uc2ec \uc815\ubcf4\ub97c \uc81c\uacf5\ud558\ub294 \uac83\uc744 \ubaa9\ud45c\ub85c \ud569\ub2c8\ub2e4.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-42628","post","type-post","status-publish","format-standard","hentry","category-market-reports"],"_links":{"self":[{"href":"https:\/\/www.globalresearch.co.kr\/insight\/wp-json\/wp\/v2\/posts\/42628"}],"collection":[{"href":"https:\/\/www.globalresearch.co.kr\/insight\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.globalresearch.co.kr\/insight\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.globalresearch.co.kr\/insight\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.globalresearch.co.kr\/insight\/wp-json\/wp\/v2\/comments?post=42628"}],"version-history":[{"count":0,"href":"https:\/\/www.globalresearch.co.kr\/insight\/wp-json\/wp\/v2\/posts\/42628\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.globalresearch.co.kr\/insight\/wp-json\/wp\/v2\/media?parent=42628"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.globalresearch.co.kr\/insight\/wp-json\/wp\/v2\/categories?post=42628"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.globalresearch.co.kr\/insight\/wp-json\/wp\/v2\/tags?post=42628"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}