Researching On The Pattern Of Disposing NPAs With Asset Securitization In China

Asset securitization was the most important financial innovation in the international financial realm in the recent 30 years, and developed quickly. It is efficient in dealing with the non-performing assets (breviary NPAs) in other countries. On the aspect of disposing NPAs with asset securitization, we have been discussing it theoretically for a long time, but practice it recently. This article analyzes the obstacles in resolving NPAs with asset securitization, and then presents relevant countermeasures. There are six chapters in the article. The first chapter is the exordium, introducing the definition of non-performing assets securitization (breviary NPAS) , the background of the topic, the domestic and overseas researching actuality and the literature review, etc; the second chapter introduces the running theory of NPAS, including the theory, the flow and the characters; the third chapter talks about the NPAS cases of America and Korea, analyzing the external conditions and subjective reasons for success; the fourth chapter introduces two NPAS cases, and sums up the obstacles in the aspects of special purpose vehicle (breviary SPV) , financial agencies, laws and regulations and market requirement of securitization products in disposing by analyzing the innovations and deficiencies; The fifth chapter presents relevant countermeasures, emphasizing how to boost the NPAS of China from the angle of requirement of securitization products, introducing the private enterprises in the financial agencies and requirement; the sixth chapter comes up with a sum-up. I hope that my narrow view can redound to the thought of NPAS in China.