Risk Analysis And Preventions Of Bank Credit Asset Securitization

Asset securitization is one of the most important and vigorous innovations on the financial market eversince 1930s. However,asset securitization is a financial innovative project with a complicated structure with many parties involved.With the remarkable structural benefits it offers,it brings us various risks.We should make the best of the macroeconomic and microeconomicbenefits brought by securitization on one hand and carefully plan the prevention of securitization risks on the other.After elaborating trade structure and basic process of the credit asset securitization,the text analyzes the risk and its reason about asset securitization and suggest that the main risk of credit asset securitization is prepayment risk and credit risk.The text makes a detailed research on the prepayment risk through three aspects:defination, measure and analysis of reasons.And then,to prevent this risk,the text puts forward the measure suitable for our country.This paper thinks there are tow kinds of credit risk: the asset's credit risk and the participants' credit risk. When analyzing the participants' credit risk, this paper bases the analysis on the contractual relationship.To analyze the asset's credit risk,it use the KMV model. This text puts forward the management frame of credit risk . Make a comparition of the KMV model,the Creditmetrics model of the JP Morgan,the creditrisk+ model of McKinsey company and the Creditprotfolilview model of McKindey,and then summarize each advantage and obstacle that the model uses in the our country;Built up exterior credit enhancement model;According to the current market environment characteristics of our country ,to put forward measures to perfect our country's credit management system.With the case of construction bank's first period asset securitization in 2006,the text the text introduces its asset pool and publishment ,analyzes the characteristics of its trade structure and credit enhancement ,and studies the main risk in the issue of secuitization .Refer to the case and current law, policy circumstance economic and ,it suggests that how to set up a local credit increase model.The thesis mainly adopted the followed method to reasearch: case analysis,literature research, data analysis, and so on . Refine author's standpoint on the foundation of reseach on literature in great quantities.It has certain practical sense because of seting up to a credit enhancement model suitabale for our country.