The Effects Of Credit Asset Securitization On Commercial Banks Liquidity Risk In China

In recent years,the liquidity risk of China's commercial banks has become more and more prominent,and the situation of liquidity risk management is not optimistic.Especially in June and December 2013 two "money shortage" incident,so that banks have to pay attention to the management of liquidity risk.In addition,from September 2014 to May 2015,the prosperity of the stock market makes a large number of funds from the bank out of the stock market,bring some challenges to the commercial banks liquidity risk management.China's commercial banks to bear the increasing risk of liquidity.As a new type of liquidity management tools,credit asset securitization in recent years,rapid development,in order to optimize the bank's assets and liabilities structure,better to achieve liquidity risk management.Credit asset securitization business carried out in full swing,and liquidity risk management is a practical problem which commercial bank facing.Is credit asset securitization really effective in improving the liquidity of commercial banks? It is of practical significance to study the impact of credit asset securitization on commercial banks to solve practical problems.This paper focuses on the impact of credit asset securitization on the liquidity risk of China's commercial banks,from the perspective of present situation,theoretical analysis and empirical test.First of all,it introduces the current situation of credit asset securitization and the current situation of liquidity risk.Secondly,it analyzes the impact of credit asset securitization on the liquidity risk of commercial banks from the theoretical level: effectively alleviate the time mismatch,reduce the financing cost,widen the financing channels and release the regulatory capital.Then,use 44 commercial banks from 2012 to 2015 panel data for empirical testing.The empirical test shows that the improvement of the securitization rate and the increase of the secondary stall can significantly improve the liquidity ratio of commercial banks,thus reducing the liquidity risk of commercial banks.Group empirical tests also support this conclusion.In addition,bank size,profitability,capital level,broad money growth rate,GDP growth rate and other factors will also affect the liquidity risk of commercial banks.Finally,it is concluded that China should vigorously promote the process of securitization of credit assets.According to the problems in the implementation process of China's credit asset securitization,combined with the results of empirical test,the following three major suggestions are put forward: First,the regulatory authorities should speed up the process of securitization of credit assets,pay attention to liquidity risk regulation;Second,commercial banks and other institutions should actively participate in credit asset securitization,commercial banks to strengthen liquidity risk management.