Research On Liquidity Risk Of Financing Leasing Companies

With the rapid development of the financial leasing industry,liquidity risk has gradually become one of the major risks of the industry.In order to strengthen the liq-uidity risk management of financial leasing companies,this paper qualitatively analyzes the factors that affect the liquidity risk of leasing companies,mainly involving maturity loans,rent,and reserve funds.Among them,maturity loans are the direct source of liq-uidity risk.Rents are affected by the credit risk of the lessee,which is an indirect source of liquidity risk.The reserve fund is the most direct and easily controllable variable for the leasing company to protect liquidity safety.Subsequently,a multi-period dynamic model of the company's cash flow process was established based on the hypothesis that the maturity loans obey the binomial distribution,and the model was used to quantita-tively analyze the relationship between liquidity risk and each variable.In the aspect of liquidity risk measurement,this paper uses the research method of ruin probability in the insurance field to define the default probability to measure the liquidity risk of financial leasing companies.In order to caculate the default probability,default algorithm(DA)and Monte Carlo method(MC)are proposed in this paper,and the analytical solution and simulation numerical solution are respectively obtained by DA and MC.Then the model and algorithm are applied to analyze the relationship between reserve fund,re-new rate,rent and default probability.Finally,the financing cost and the lessee's credit risk are considered.The bank's loans interest and different rent pricing methods are integrated into the basic model,and the impact of three different rent pricing methods on the liquidity risk is compared and analyzed.