Research On Asset Securitization And China Commercial Bank Credit Assets Out Of The Balance Sheet

Under the pressure of new loans or low capital adequacy ratio, Banks has been trying to innovation of credit assets out of the balance sheet, and even extends to the non-standard investment assets out of the balance sheet. Since 1998, through a variety of modes, in various ways, such as bank and trust cooperation, wealth investment product, interbank investment, someone will be transfer listed in the "shadow banking" category, but has been no systematic study and summary.Banks in the actual operation of credit assets out of the balance sheet, have been dealing with Regulatory authorities, mostly to avoid regulation and apply a variety of structured finance, both in the " Development-specification- innovation- regulation" cycle mode.But with the deepening of financial reform and innovation, regulatory policies gradually standardized and rational, simple innovation and standardization couldn’t satisfy the development of financial market, the current assets of the balance sheet model has encountered bottlenecks, With the guidance and the support of regulatory policy, credit assets out of the balance sheet is turning to asset securitization.China from March 2005 to begin pilot securitization of credit assets, since March 2005, China begin credit asset securitization pilot work, after several times trial practice, with the support of policy to gradually increase and carry out, product innovation is more abundant, more participants join,the basic assets continue diversification. Judging from the current practice of asset securitization, there are two main securities, CBRC / PBOC supervision of credit asset securitization and the SFC supervision of enterprise asset. These two securitization modes have a profound impact on credit assets out of the balance sheets. Although banks in the credit asset securitization has a preliminary study, but in its non-standard investment assets out of the balance sheet there is still a worthy research. Asset securitization can serve to adjust the economic structure, is essential for real economic development funding, has a very important significance, in spite of the pilot innovation, but as enhance the level of commercial bank operation and management of a financial instrument, especially in assets out of the balance sheet, the commercial banks have found that the policy and economic significance.This article will delve into each historical stage characteristics of credit assets out of the balance sheet, analysis all relevant regulatory policy evolution with dynamic static analysis and theoretical analysis, Propose the problems of credit assets out of the balance sheet through present situation, analysis asset securitization development, present situation characteristics and application of credit assets out of the balance sheet, Through the case of three commercial banks, in view of the credit assets securitization, the non-standard investment assets securitization and the enterprise asset securitization, to research asset securitization operation mechanism and influence of credit assets out of the balance sheet, hoping to put forward constructive suggestions for practical application and promotion.