A Study On The Effects Of Credit Asset Securitization On Commercial Banks Liquidity Risk

At present,the assets and liabilities of commercial banks in China are faced with many problems.On the one hand,the structure of assets and liabilities is unbalanced,and the trend of asset liability maturity mismatch is strengthened.On the other hand,the quality of credit assets is not optimistic,and the rate of non-performing loans has increased.All of these lead to the risk of liquidity risk for commercial banks.Asset securitization originated in the United States is the end of the 1970 s financial market a structured finance innovation tool,the tool with its business structure and product variety and constantly improve the innovation,especially plays a unique role in the treatment of commercial bank assets and liabilities structure and quality.Therefore,commercial banks can effectively optimize and improve their assets and liabilities structure and the quality of their assets by implementing the credit asset securitization business.China's credit asset securitization business started late.In 2012,China started the credit asset securitization business.Especially after 2014,it entered a stage of rapid development.Under the support of national policies,the scale and number of credit asset securitization have been significantly improved.In 2017,China's financial market reform calls for vigorously developing the capital market and increasing the proportion of direct financing,and the scale of China's credit asset securitization business is bound to have further growth.This paper studies the impact of credit asset securitization on the liquidity risk of commercial banks.Combined with the current development of credit asset securitization in China,it is of great significance to optimize the asset and liability structure of commercial banks,improve asset quality and prevent liquidity risk.In this paper,we combine qualitative analysis with quantitative analysis,empirical analysis and normative analysis to explore the impact of credit asset securitization on liquidity risk.First of all,this paper introduces the related theories of credit asset securitization and liquidity risk.Secondly,based on the research of the liquidity creation mechanism of credit asset securitization,we analyze the mechanism of credit asset securitization business to the liquidity risk of commercial banks from three aspects:asset liability structure,asset quality and financing capacity.Finally,theoretical and empirical analysis based on the data selected to represent the commercial bank credit asset securitization,liquidity risk,a quarter of listed commercial banks in China in 16 to2007-2016 years of data,the liquidity ratio and loan deposit ratio as explanatory variables,introducing virtual variable credit asset securitization as the main explanatory variable the inspection,construction of credit asset securitization impact on the liquidity risk of the panel data model.The empirical results show that credit asset securitization business is directly proportional to the proportion of liquidity and inversely proportional to the loan to deposit ratio.Therefore,commercial banks developing credit asset securitization business can play a liquidity effect and reduce the possibility of liquidity risk.According to the above conclusions,combined with the actual development of securitization of credit assets in China,and puts forward relevant policy suggestions to promote China's credit asset securitization development in this paper: firstly,to further expand the scale of credit asset securitization;secondly,strengthen the credit asset securitization market system construction;thirdly,improving the credit asset securitization related laws and regulations;fourthly.Accelerate the construction of credit asset securitization risk monitoring system.Through the improvement and improvement of all aspects above,we hope to further promote our credit asset securitization business to achieve normalization and marketization in the future,so as to improve the liquidity level of commercial banks and reduce liquidity risk.