A Study On Credit Asset Securitization Of Our Country's Commercial Banks

In our country, along with reform and open policy, each kind of question which the state-owned commercial bank faces suddenly appears. In the interior, as a result of historical and the system reason, capital owned by bank is short, the property fluidity keeps low level, the bad assets amount is huge, the risk highly concentrates on the state-owned bank, all these seriously hindered the state-owned commercial bank's reform and the development; In order to reduce the risk, our country successively establishes four assets management company, starting to solve the large scale bad assets problem. Under this kind of background, the kind of finance innovation tool of the assets securitization is officially proposed. From exterior, the state-owned commercial bank faces the stern survival pressure and the competition challenge. But state-owned commercial bank occupy an important status in our country finance system, forces us to have to attack and capture the fortress in this reform battle. The financial industry development history indicates that the financial innovation is the main way to avoid the financial risk and stabilize the financial system. as one of most important finances innovation for late 30 years in the international finance domain, assets securitization undoubtedly is the better way to solve the above question .The assets securitization not only is helpful to to solve some simple problems, such as enhancing the property fluidly and so on, but also may promote the depth level reform, such as the system innovation, and finally accelerate the establishment of the modern commercial bank system.Assets securitization is newly emerging things in our country, but the assets that can be securitilized are very many, but most is early starts from the bank loan. Moreover the assets securitization in our country is proposed to be taken as one method to guard credit risk; therefore the article decides to reduce research scope of assets securitization in the credit property. At the same time, no matter from organization, or from the property shift order, the bank's credit is the logic beginning. This article takes the state-owned commercial bank as the object, to explore and research assets securitization's practical significance, the existence question and which kind of securities can be securitilized. In our country commercial bank,the credit asset has many category , comparing with the basic characteristic that the property should have and combined with our country financial market's circumstance, only a small part of assets can be securization.The housing mortagage credit has so many virtue, such as very steady cash flow, the low breach of contract rate, the standardable credit contract,smallquantity and easy combination etc. become the most suitable asset that can be securization, MBS is a correct way to be securization of our country 's bank assets.and this article also carry on discuss the possibility if bad assets of our country's commercial bank can be securization, at the same time analyzed which problems exist in the credit securization, also make the further study and researches on the existent risk and how to price the credit assetThis article unifies the domestic and foreign MBS and the success experience to solve bad assets, as well as the newest tendency of our domestic research, concretely applicate the knowledge of microscopic economic, the macroscopic economic, the system economic, the financial engineering, the game theory, the theory of probability and the mathematical statistic and the commercial bank management to prove the necessity of commercial bank's securitization combined with by the quantitative analysis and the qualitative analysis, tries hard to summarize the general regular content of our country commercial bank credit assets securitization, and carries on qualitative and the quantitative investigation of the the flaw condition that our country use the financial innovation to avoid the financial risk also do the further discussion and research to the price method of credit assetsFinally, this article gives comprehensive summary, and proposes the future research direction of our country's commercial bank credit asset securitization which continued to discuss.