The Studies Of Commercial Banks On Residential Mortgage Backed Securities

In 2007,the global financial crisis triggered by the subprime mortgage crisis influence the whole world badly. After the crisis, all the countries try their best to get rid of the impact as much as they can, which is represent by the U.S. QE policy. China also launched a series of stimulate policy, the 4 trillion stimulus policy is a typical represent. Although the policy played an active effect in maintaining the economic growth, but the side effect happened later. After the new government was established, under guidance of the policy-"steady growth、adjusting structure、promoting reform、improve people’s livelihood", stress tests was conducted and warning signals was released,which led to "liquid shortage" occurred unexpectedly in June 2013. The State Council decided to revitalize the stock of money and make good use of increment, aims to prompted commercial banks and other financial institutions support the transition and development of the real economy and restructuring estate upgrading. RMBS(ResidentialMortgage Backed Securitization),as one of the financial instruments to help commercial banks to revitalize the stock of credit assets, has a rapid growth especially in USA, before the financial crisis. RMBS played a core role in resolving the residential issue and the development of the capital market. However, as it deviate from its essence, a huge destructive crisis impact the world happened finally. In China, RMBS started in 2005,prompt financial innovation skills of commercial banks, and it was suspended in 2008 by the influence of financial crisis. Since 2011,the State Council agreed to resume RMBS and launched a series of policies to make it develop conventionally.This article focuses on RMBS’s basic concepts, operational mechanism, characteristics, classification, overseas development process and enlightenment to China, the necessity, status and problems in China; introduce the first RMBS issued by China Construction Bank; make suggestions about how to carry out RMBS smoothly; have an in-depth and comprehensive research about RMBS, analysis its problems and find out coping strategies, all that above have a great meaning in supporting the transition and development of the real economy and restructuring estate upgrading, resolving livelihood issues and improving the management of commercial banks.