Analysis On Economic Effect Of China's Bank Credit Assets Securitization

In February 1970,the US Department of Housing and Urban Development issued the first modern housing mortgage-backed securities.Since then,asset securitization has been on the stage of history.The so-called asset securitization is the process of bond transactions between the initiators and the investors through the market mechanism,and the process of converting the assets with poor liquidity and generating stable cash flows into bonds.Bank credit asset securitization is a type of asset securitization,and the bank will be the lack of liquidity of credit assets packaged into bonds into short-term access to funds to enhance the liquidity of funds to credit assets interest as bond income.American commercial banks initially carried out asset securitization to pass credit risk and solve the problem of liquidity in the financial markets.Banks to implement credit asset securitization,first of all,can effectively revitalize the stock of credit assets,the release of credit resources,reduce capital consumption,so as to promote the development of the real economy.Second,it also can broaden the financing channels and reduce the financing costs.Finally,the capital stock has been effectively revitalized,the efficiency of the use of funds has been rapidly improved,and the bank assets liabilities structure is optimized.Therefore,the securitization of credit assets is of great significance to the development of banking industry.However,the outbreak of the financial crisis in 2008,let us deeply understand the cruel side of asset securitization.In the next four years,the Chinese banking industry suspended the credit asset securitization business,during which regulators launched a series of regulatory reform measures to avoid disadvantages of credit assets securities.Until 2012,China launched the pilot again,and the banks have launched credit asset securitization products.In 2013,the government departments to speed up the pace of reform,bank credit asset securitization has been rapid development.Depth analysis of the credit asset securitization of the banking mechanism of the mechanism,can effectively strengthen China's banking risk resistance,so as to better respond to risk problems the future development of securitization market in the process of encountering.Based on the study of the development process and current situation of bank credit asset securitization,this thesis analyzes the economic effect of using thisfinancial instrument,and establishes the empirical model based on the data of listed commercial banks in China,and validates the banking asset securitization business the effects and influence.Finally,this thesis analyzes the empirical results and makes reasonable recommendations.