In the second phase which began in October 1999,the HKMC securitises the mortgages into mortgage backed securities (MBS) and offers them for sale to investors.

 
  • 在第二阶段,按揭证券公司把按揭贷款证券化,然后再把按揭证券售予投资者,这个阶段已于一九九九年十月展开。
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