Credit Asset Securitization And Stability Of Commercial Banks In China

Whether in the western developed countries financial system or China's financial system,the stability of the banking industry has a crucial impact on the stability of the financial system.As one of the most famous financial innovation tool in the ninety s of the asset securitization,in the early stages of the development,with its credit risk transfer and improve the function of the level of liquidity,greatly promoted the development of the us banking,made a great contribution to the U.S.banking sector.But in 2008 the United States after the outbreak of the subprime crisis,people began to pay attention to the asset securitization of credit risk in the banking system played a key role in accumulation and diffusion,academia began to warm to discuss the relationship between asset securitization and bank stability and bank in the securitization of the moral hazard problem.In 2005,China first began a pilot program of credit asset securitization in China development bank and China construction bank,but it was suspended in 2008 due to the subprime crisis.Since 2012,the Chinese government based on the stock of assets,better play to the financial support of the practical need of the real economy and the economic structure adjustment,and restart the pilot securitization of credit assets business;In 2015,the central bank passed the issuance system of "registration system" of credit asset securitization products.This means that China's banking industry will usher in the development of the credit asset securitization business.Face the two sides of the asset securitization impact on bank stability and the securitization market trend of rapid development,asset securitization of credit risk transfer system to further research and the increased liquidity function can strengthen risk sharing and dispersion mechanism,promote banking stability appear urgent and significant.Based on China's commercial bank credit assets securities as the research object,from the perspective of the basic function of asset securitization of credit assets securitization of bank stability mechanism,the influence of the securitization of credit assets and the relationship between the commercial bank stability problems.