Research On Non-performing Assets Securitization Of Chinese Commercial Banks In Trust

It has promoted asset securitization in our country since 1992;it was not until2005 that asset securitization slow down because of the subprime crisis.It can be spread to strengthen management,credit risk and promote the development of capital market and link the credit market to the capital market,so asset securitization has developed quickly in the international financial market and it became a strong financial source beside the direct financing and indirect financing.Due to the influence of macroeconomic decline and slowdown in economic growth,the qualities of the credit of the commercial Banks in China reduce to the lower.It is the constant "double up" in non-performing assets that influences the daily operations of commercial Banks in China seriously,occupies the scale of the commercial bank credit,reduces the Banks' assets' liquidity and management benefit,and expands the credit and operational risks of commercial Banks.In this context,it has become a primary method for commercial Banks in China that dealing with non-performing assets in asset securitization rapidly on a large scale.Non-performing assets securitization can solve the contradiction of the long-term assets and short-term liabilities,adjust the structure of the credit effectively to avoid liquidity risk.For our country,the subjective and objective conditions are mature than a decade ago,implementation of non-performing assets securitization needs more urgent.But under the current legal environment,the selection of non-performing assets securitization in trust will become a mainstream way of securitization operations to circumvent the law.In this paper,it studies the non-performing assets securitization of Chinese commercial banks in trust through the combination of theory and practice,comparative law,qualitative and quantitative methods.First,it studies the background and significance of non-performing asset securitization and the research status at home and abroad studied.Secondly,it analysis and sorts out the practice of China's non-performing asset securitization combined with the current situation of China's non-performing assets,the limitations of traditional non-performing assets disposalmethods,the reform of financial system and other analysis of the real needs of non-performing asset securitization.Then it analyzes the inner mechanism of the non-performing assets securitization in trust in detail,including trading structure,core steps and other related technologies,putting forward the process design of the securitization of non-performing assets.It is concluded that it is in trust that it becomes the choice of securitization of non-performing assets at the present stage in China in use of comparative law,and it also analyzes the limitations of non-performing assets in trust.Then it is using the multi-factor model that applies to the assets valuation of non-performing assets securitization,and analysis in combined with historical data for empirical.Finally,as to the current operation situation of non-performing assets securitization in trust,it puts forward operable policies and suggestions from technology,system construction,market environment three aspects for the development of China's commercial Banks non-performing assets securitization in trust.