Risk Investigation Of The Securitization Of Credit Assets

As a type of assets securitization, securitization of credit assets is a major innovation in the financial field. It has been developing rapidly in the United States, Europe and Asia since1970s. But after American Sub-prime crisis happened, assets securitization is targeted by many people.In fact securitization of credit assets,as an innovative financing instrument, its value and meaning should not be overall negative. Carefully study and analyze the risks that may encounter in the process of securitization, raise the risk consciousness,establish the risk prevention mechanism, strengthen government regulation, securitization of credit assets can still play an active role. On20April2005"Administration of Pilot Projects for Securitization of Credit Assets Procedures" was promulgated. Then a number of pilot credit asset-backed securities were successfully issued under the guidance of the Administration. Because securitization of credit assets has not been carried out for a long time in China, both practical and regulatory aspects have some inadequacies. Sub-prime crisis in the United States is a reminder of our country in the operation of securitization to enhance risk prevention, improve the activities of securitization.Through systematically summarized the securitization of credit asset theory both at home and abroad firstly, this paper combined with the experiences and lessons of securitization of credit assets in the United States, then found out the current difficulties and problems of credit asset securitization in our country, and finally put forward relevant policy suggestions. This article was from the perspective of risk to study the feasibility of the securitization credit asset in our country, pointed out that the necessity and urgency of the current conducting asset securitization in our country, and found out that the main reason for the slow development of the securitization of credit assets in our country was from legal system, supporting environment, authoritative intermediary institutions, interest rate control system and credit system and other problems; at last, from the perspective of risk slow release, the author put forward some suggestions that we should make our legislation perfect, and strengthen the securitization of credit assets securitization of financial regulatory.