Legal Dilemma And Supervision Direction Of Consumer Finance Asset Backed Securitization

Consumer finance is the product of development of finance.With the readjustment of economic structure,the contribution rate of consumer spending to GDP growth is steadily increasing,consumption has played an increasing important role in aggregate demand,and consumer finance will enter a new stage.Since the asset backed securitization restarted in 2012,the market saw an explosive growth of consumer finance products.However,the consumer finance securitization related to internet experienced tacit veto from supervision department.Based on main stages of consumer finance,this article analyses the necessity and particularity of consumer finance securitization supervision and try to find the reason of its formation.The legal dilemma and the special regulation action of Internet Finance may spawn the supervision methods and find no essential progress of exogenous environment of asset securitization in the decade.The issue of consumer finance securitization products still depends on credibility heavily,which calling for the radically reform of supervision department.It requires the focus on scene of consumption,information disclosure and credit reference system,revealing the essense of off-balance sheet financing.