Study Of The Risks Of Securitization Of Credit Assets Of Commercial Banks In China

Asset securitization is the most important one with the vitality of innovation in the financial markets since the 30's 20th century. Loan-backed securitization is one of the most important form of credit asset securitization, through the implementation of various forms of money market products and contact the internal capital market. At the same time a large number of participants, structure complex transactions rigorous high degree of market-oriented financial innovation project, it has significant macro-micro economic benefits at the same time, also seemed to focus on risk and complexity. Although the pilot of the second groups of securities have been a successful business, but a result of these successful cases to see the small size of the object of selection are the quality of assets, and on the true meaning of the securities of the distance must also exist. Especially by the United States subprime mortgage crisis, the deteriorating situation in the global financial environment, the commercial banks to combine China's actual conditions, the use of rational and effective means of Loan-backed Securitization to control risk and management, to better improve and promote our country's economic development, it is particularly important.In this paper, mainly from the perspective of commercial banks, the securitization of credit assets by the classification of risks: credit risk, prepayment risk, structural risk, legal risk and third-party risk. In this classification, At the same time, also introduced in China since 2005 the development of loan- backed securitization process and, through the Construction Bank Securities MBS pricing methods and the first phase of Shanghai Pudong Development Bank loan- backed securitization case, respectively, an analysis of risk control system in loan- backed securitization. Finally, the article discusses the securitization of credit assets of China's development barriers, and based on the current situation, risk management of loan- backed securitization raised the idea: quantitative risk through pricing strategies - the use of capital assets model and options combined with the adjustment spread to ensure that the sponsor can be the risk of the corresponding compensation; qualitative flow risk through risk control - a comprehensive risk management model, separately from the control objectives, control aspect, activity control, information exchange, such as commercial banks on Loan-backed securitization risk management system design, and the corresponding policies and proposals. The full text of the use of theoretical analysis and actual case studies, qualitative analysis with quantitative analysis method that combines the spirit of practicality, operational principles, and strive to explore our country fit in the commercial asset securitization of bank credit risk management models. This article has some practical value, but at the same time , due to domestic commercial bank's limited practice and domestic securities madket imperfections, as well as my limited knowledge, and other reasons, the paper needs to be futher improved.