Analysis Of 2017-1 Cases Of Asset-backed Securities Jianyuan

Our country has experienced 10 years of development in the securitization of housing mortgage loans,but its performance in terms of its scale is not conspicuous compared with the asset securitization rate of nearly 70% of the mortgages in mature markets such as the United States.Mortgage-backed Security(MBS)in China has considerable prospects.Since 2014,driven by the continuous improvement of the marketization of interest rates in our country,the rise of the wealth management market,demographic dividend or inflection point,and the aid of government policies,many commercial banks hope to revitalize their stock through asset securitization business Assets,declining liquidity risk and business transformation.This paper studies-"the first paragraph of 2017 yuan personal housing mortgage loan securitization" is China's credit asset securitization business in 2017 since the second case,as well as in 2017 asset securitization filing system for the first time after the reform of individual housing Mortgage loan securitization case,the project for commercial banks in the MBS business for future reference.Based on the theory and literature about asset securitization,this article introduces development of asset securitization in China,the development path and the domestic research on the development of MBS.Based on the first phase of China Merchants Property Mortgage Loan Securitization As a starting point,detailing China's asset securitization market,and individual housing mortgage loans,asset-backed securities,the key points.Through the use of chart analysis,comparative analysis and research methods to study the case deeply,we know that the first phase of MBS has the advantages of high quality of underlying assets,complete trading structure and low risk of priority securities investment.However,there is also a return rate Low shortcomings,lack of attractiveness to investors,short period of time can not significantly improve the market value in China Merchants Bank,project sponsor's financial indicators and weakened the willingness of sponsors to issue MBS.In addition,the secondary market of asset securitization in our country is traded low,lack of systematic laws and regulations and other market conditions,and also affected the enthusiasm of commercial banks in the development of asset securitization business in some aspects.Based on the advantages of MBS and the problems found in the case analysis,this paper puts forward some proposals to strengthen the legislation on asset securitization and promote the development of individual in our country from the perspectives of the state,industry and commercial banks themselves.Credit rating system,speeding up the cultivation of the secondary market for asset securitization,selecting appropriate pooling assets,improving the MBS pricing mechanism in our countryand credit enhancement methods.