The Research On A Case Study On Credit Card Securitization Of China CITIC Bank

With the development of Chinese asset securitization market and credit card business,credit card asset securitization is developing rapidly as a new type of financial business.Credit card asset securitization is the process of issuing securities based on credit card receivables.As credit card asset securitization is beneficial to risk-spreading,increase liquidity and reduce the cost of fund application,it has become a foreign credit card issuer's main financing channel.However,Chinese credit card asset securitization business is started late,small volume,lack of success cases.As the first successful cases,CITIC Bank's first credit card installment asset-backed securities products in 2016 have the value of research.This article research on CITIC Bank asset securitization financing model.WE take CITIC Bank credit card personal consumption installment loans as special assets for supporting asset securitization,research on cash flow,the mode of Credit enhancement,and Trade structure.And it also analyzes the features and advantages of CITIC Bank credit card asset securitization,find the problem of the securitization process by comparing with the foreign advanced model,then put forward countermeasures and suggestions.We hope Provide reference for other banks' credit card asset securitization.This paper is divided into five parts:The first part introduces the research background and significance,domestic and foreign research results,research content.article structure and innovation.The second part introduces the background of credit card asset securitization,and shows the credit securitization process of credit card.This paper analyzes the development of credit card asset securitization both at home and abroad,and analyzes the motivations of CITIC Bank to carry out credit securitization of credit card.The third part mainly introduces the selected cases.Including product brief introduction,participators,transaction processand securities situation.The fourth part is a case study.Firstly,it discusses thefeatures and advantages of CITIC Bank's first credit card installment asset-backed securities products in 2016.Secondly,it discusses the shortcomings of CITIC Bank's credit card asset securitization through comparison with foreign advanced models.The fifth part draws lessons from the successful experience of foreign products,and puts forward practical suggestions for perfecting CITIC Bank's credit card asset securitization and the development of similar products by domestic banks.