Finance Lease-based Securitization Motivation And Risk Analysis

China's financial leasing industry with its unique business model in the market based on more than 30 years,it's legal environment has been improved to help the financial leasing industry to mature,especially in recent years,the development of leasing leasing industry momentum,but because of the rapid business expansion,many financial leasing companies are facing a major shortage of funds.In addition,because of regulatory requirements,the size of the financial leasing industry is subject to capital constraints,when the two similar business models are the same,who can get financing,and who can get bigger than the other The amount of financing will be the magic weapon for enterprises to win in the game;the same time,the state policy from the enterprise asset securitization by the approval system to the filing system,and the basic assets of the negative inventory management,the state to support the expansion of non-performing assets securities the scope of the pilot and led by the four state-owned banks,which shows that the country is now pushing the asset securitization of this innovative financing channels.In this case,asset securitization is a new financing option for the leasing company as a financing tool that can achieve the "come out" of the leased asset.In this background,this paper focuses on the use of financial market theory to analyze the financial incentives and risks of financing and leasing asset securitization,and chose the first enterprise asset-backed securities to achieve "real table" in accounting.Southern qiyuan far east horizon(tianjin)as the case study object,and focuses on the internal analysis of its internal motivation and external motivation,combined with the relevant theory and the specific operation process,from the product design point of view more in-depth the analysis of the securitization products,the product of the asset pool situation,the transaction structure and credit enhancement methods and other aspects were introduced,and the financing incentives,product status,tax treatment,accounting treatment and the main risks and other aspects of the more in-depth analysis,the final summary of product problems and risks,and hope for financial leasing enterprises to carry out asset securitization financing to provide some product improvement proposals and industry policy recommendations.Analysis in this paper,the enterprise financing lease asset securitization market stillmuch room to improve,perfect accounting standards of a set complete form,rules and norms of the tax law enterprise asset securitization practices is very necessary,secondly,other enterprises should also be the learn in this paper,the issue of securitized products,to weigh the risks and benefits of assets out of the table to choose the way,the interest rate it is best to choose a floating interest rate to circumvent the risk of interest rate mismatch.