The Research On The Mechanism And Influencing Factors Of Credit Asset Securitization Tn Bank's Liquidity Risk Management

In 2008,as the global financial crisis triggered by the US subprime mortgage crisis the worsening the environment of financial system,and to stabilize China's economic and financial development environment implementing the tightening monetary policy,the social liquidity has reduced,and the excess liquidity situation of commercial banks has gradually shifted to the state that liquidity has reached the basic balance.In 2010,with the development of global capital market and the launch of various financial tools,commercial banks liquidity has presented the shortage state,especially in May 2013,the capital interest rates of the capital market increased rapidly,to the middle of June,the funds repurchase rate has skyrocketed,and the shortage of bank liquidity has increased the liquidity risk.From 2014 to June 2015,driven by the rising capital market index,the social funds has poured into the securities market,and the bank liquidity has reduced further,thus the more severe test of commercial banks' liquidity risk management has been put forward.Credit asset securitization,as the financial innovative model combined by commercial bank development and capital market tools,has provided an effective way to solve the problem of liquidity risk of commercial banks.This paper has studyed the impact mechanism and factor of credit asset securitization on liquidity risk management of commercial banks.Firstly,based on the analysis of the theory of liquidity risk in commercial banks,this paper has explored the root causes of liquidity risk of commercial banks through theoretical model analysis,and revealsed the internal and external factors and current situation of bank liquidity risk.Secondly,this paper has revealed the operational mechanism of liquidity risk of commercial banks from institutions with special purpose,assets and liabilities,financing function and regulatory capital.Based on this,this paper has analyzed the development of Chinese credit asset securitization,which laid the foundation for future researches and policy suggestions.On the basis of the theoretical analysis,this paper has chosed the data of liquidity risk and credit asset securitization of China's commercial banks from 2006 to 2016,and analyzed the strength and the effect of credit asset securitization on the liquidity and risk management of commercial banks in China.There is a cointegration relationship between the ratio of short-term loans to total loans,the ratio of liquidity,the ratio of variable liabilities to total assets to the ratio of bank securitization,and when the bank's securitization ratio increases by one percentage point,the corresponding short-will is increased by 0.36 percentage points,the corresponding bank liquidity ratio will increase by 0.356 percentage points,the corresponding bank variable debt ratio will be reduced by 0.564 percentage points.Finally,the paper has summarized and analyzed the theoretical and empirical research results,and put forward perfect policy suggestions from the perspective of external regulation of credit asset securitization and internal risk management of banks,combined with China's development practice.