The Impact Of Credit Asset Securitization On The Commercial Bank's Liquid Assets

In the background of economic transition,China's traditional banking development model has a certain bad effect on the bank's sustained profitability,In addition,the outstanding problem of liquidity is also the core problem that our commercial banks need to focus on.Under the circumstance of financial liberalization and capital flows of globalization,Commercial banks face more liquidity pressure than any periods before.In 2013,the phenomenon of "lack of cash" appeared in the banking industry,which prompt commercial banks to accelerate business restructuring,to enhance financing method,and to strengthen liquidity management.So,facing the structural adjustment and international diversified environment,China's banks are also exploring the restructuring and development.At the same time,asset securitization is an important financing tool to achieve financial stability and promote financial development.China's asset securitization business relative to Europe,the United States and other countries starts lately,and the development time is not very long,the circulation is also not very large.The earliest credit asset securitization products started in 2005,Kaiyuan and Jianyuan,products of the asset-backed securities,were issued by State Development Bank and Chinese Construction Bank in 2005,making China's asset securitization pilots were officially opened.But in 2008,given the impact of the global financial crisis,the process of China's asset securitization pilots crunched to a standstill.Till may of this year,the department of people's bank issue the notice,then our country 's asset securitization restarted,and the total amount of the pilot this time is total of 50 billion Yuan.China's asset securitization process is not long,the share of the issuance of asset securitization is still small,and has a single issuer,the main market for the interbank market,the distribution structure is relatively simple,so in the future there is still much room for development of asset securitization.In the past 10 years,China's commercial banks solely rely on consumption of capital,the scale of assets' expandation,which are difficult to continue.The international standard of capital adequacy requirements continue to improve,and asset securitization,other financial innovation products of commercial banks improve the capital adequacy ratio,reduce the rate of non-performing loans,revitalize the bank funds,broaden the financing channels,therefore,the development of Asset securitization will be conducive to the transformation of China's commercial bank development model.At the same time,China's commercial banks also served as the loan management institutions and capital custodians,the management fee is conducive to the expansion of intermediary business bank income,asset securitization as a financial innovation products improves the liquidity of commercial banks and promote commercial banks' transition.In addition,the asset securitization itself has a positive significance for the asset management of commercial banks,asset securitization is essentially a package of loans sold,it can recover the funds early,thus accelerating the speed of the revolving credit assets,effectively improving the balance sheet structure,and the liquidity of commercial banks will be improved,but at the same time,asset securitization will bring risks to the liquidity of commercial banks.Therefore,the supervision of asset securitization should be strengthened.Select China's 15 listed commercial banks 2007-2015 data as the research object,using the theoretical and empirical,qualitative and quantitative analysis methods to study the relationship between asset securitization and the liquid asset of commercial banks.First of all,after summarizing the related literature at home and abroad,this article gives a definition on asset securitization,and clearly analyzed from the perspective of running processes of asset securitization,so to clarify the definition of asset securitization and its nature,indicat the role of asset securitization of commercial banks to build a new model of operation.Second,introduce the three development process of asset securitization in our own country,respectively the initial exploration period,the pilot period and the overall implementation period after 2013,then to clarify the current development of asset securitization,andthus illustrate our.significance to continue to develop securitization.Third,this article chooses the ratio of asset securitization and total asset to reflect the level of asset securitization at commercial bank.And choose liquid asset's logarithm to reflect the liquidity level.And then adopt empirical study method to method to analyze the relationship between listed banks securitized asset level and liquid asset of commercial banks.Finally,based on the above empirical analysis results and the reality,supply some ideas and advises from the views of asset pool,risk prevention-control regulatory regime,the ranges of investor and so on.