Motivation And Risk Analysis Of MTN Financing In Financing Leasing

Leasing,not only promote enterprise investment,and promote he development of small and medium-sized enterprises,which plays an important role in national economy and the market economy. In recent years,the country’s economic policy convert the "positive and moderately loose" into "active and prudent" as the inflation pressure. In the case of the monetary policy tightening,how to solve the enterprise for the sustainable development of financing leasing problem of steady supply of money related the national economy development from all walks of life.Based on far eastern leasing company as a case,this paper analyses the reason of financing leasing MTN financing and the problems of risk,through the adoption of corporate finance theory to analyze the reason of MTN financing and enterprise risk management theory to solve the financing risk. First analyze and compare the current situation of our country and America to lay a foundation for the risk analysis for the rest of the article. And then through the case analysis,I explore the cause of the company issued MTN is that replacement stock bank loans and increase the source of direct financing,access to funds support the development of medical industry business,compare bank loans with corporate bonds in financing cost advantage,higher debt pressure has prompted operators to strengthen management. But compared with the America MTN market has found that MTN financing exists risk: the credit risk causing by lacking of debt guarantees,the interest rate risk causing by the macroscopic policy changes,the legal risk causing by fuzzy financing leasing legal position.Through the study found that although the company issued MTN can meet the demand of corporate financing,but was not well done after the release of risk control. Therefore,I suggest the following risk control measures:first,establish a financing leasing financing guarantee platform;Second,our country implements "reverse inquiries" mechanism and innovatives structural MTN in order to reduce the investment and financing interest rate risk to rich variety of medium-term notes and make MTN market diversification; Third,construct laws and regulations of financing leasing and strengthen the medium-term notes legal regulation. The research meaning of this paper is that our country introduce MTN in financing leasing and solve the problem of financing leasing direct financing and increase the proportion of direct and indirect financing. Most importantly,it riches credit debt varieties of bond market and promotes the development of China’s bond market.