Research On Risk And Prevention Of Securitization Of Internet Consumer Financial Assets

With the popularization of Internet technology and consumption as an important driving force for China's economic development,China's Internet consumer finance industry has developed rapidly.The rapid development of the industry has increased the demand for capital,while asset securitization has provided a new channel for innovative financing,which has been favored by the Internet consumer financial institutions.Due to the early stage of industry development and the late start of China's asset securitization,the country has not yet issued a complete supporting system,and there are loopholes in the regulatory system,some consumer financial institutions seized on weak regulation and arbitrage,leading to frequent occurrence of industrial risk events.This thesis mainly focuses on the risk of securitization of Internet consumer financial assets,expounds the current situation of the risk of securitization of Internet consumer financial assets,analyzes the causes of the risks,and finally puts forward the corresponding preventive measures.First of all,this thesis introduces the related concepts of securitization of Internet consumer financial assets,Among them,it is clear that the Internet consumer finance studied in this thesis is a broad concept.that is,all the consumer finance platform via the Internet to provide products and services are included.The introduction of the concept of asset securitization mainly involves definition,participation subject and its functions as well as operation process and transaction structure.At the same time,this paper analyzes the securitization of Internet consumer financial assets from three aspects:motivation,operating environment and development status.Among them,the development status is explained separately from the perspective of different original stakeholders.Secondly,this paper analyzes the risk status of the securitization of Internet consumption financial assets from four aspects of industry,original equity,basic asset and transaction structure.then points out that the Internet consumer finance industry in China is facing a strong regulatory situation;The original rights and interests have the risk of market differentiation,bad rate,and so on;The basic assets are faced with the challenge of credit sinking and incomplete credit information.The structure of the circular purchase transaction may not be able to run due to the quality of the new underlying assets and insufficient.Thirdly,this paper analyzes the causes of risk in the present paper.Because the industry is still in its early stage of development,regulatory policy still is not perfected,consumer financial institutions in order to fight for his place in the fierce market competition,ignore the management risk,blind pursuit of the size of the market.In addition,the establishment time of consumer financial institutions is relatively short,and there exists historical data short board,and the risk control capacity of big data needs to be further improved.Besides,the monopoly of China's credit system and the island phenomenon of Internet platform data are also important reasons for the risk.In the end,this paper proposes targeted preventive measures based on the risk factors.First,the government should improve the construction of the supervision system and create a healthy environment for the development of the industry.Second,the consumer financial institutions should operate according to the law,constantly improve the risk control system and improve the risk control ability of big data.Third,the participants of asset securitization should strictly perform their responsibilities and monitor the quality of basic assets in real time.Fourth,we should use big data and cloud computing to improve the credit system construction and prevent credit risks from the source.