The Research On The Credit Assets Securitization Of The Commercial Bank In China

The successful issue of Jianyuan 2005-1 MBS of the China Construction Bank is an important token that the securitization of the mortgage-backed loans has been initiated towards a further goal of large scale implementation.However, there always exists some discrepancy in the tentative products. The author tries to do the research on the case of securitization in the United Stated, referring to its development, status, products of securitization, which could be borrowed by us.The thesis firstly introduces the related theory of securitization of the credit assets s, explaining the basic law of it. Then it emphasized the importance of the securitization of credit assets in China, pricing model and related products. The plenty of datum are adopted in the case of securitization of the United States, which is useful to summarize the achievements of the United States in the related areas. All these could be availed to the development to the credit assets securitization of the commercial banks of China.The innovation of the thesis lies: on the basis of close theoretical analysis and data-processing, the author has presented a framework model with the design of the transaction entity, the transaction structure, the transaction flow, the asset pool, the credit rating and its enhancement, the pricing of MBS. Apart from that, the author has made a comparison between framework model and the practice of Jianyuan 2005-1 MBS, with an analysis of the innovation and advantage of the Jianyuan 2005-1 MBS, as well as its weakness.