The Impact Of Credit Asset Securitization On The Liquidity Risk Of China's Commercial Banks

In recent years,the operating environment of commercial banks has become increasingly complex.Affected by such factors as the tardiness of economic growth,the liberalization of interest rates the pressure on liquidity risks faced by commercial banks in China has increased.The two “money shortages” experienced by commercial banks in 2013 further explained the importance of liquidity risk prevention.Liquidity risk is contagious.If it is not taken seriously,it will have a great impact on the whole system.In such circumstances,securitization has once again attracted people's attention as an effective tool to revitalize asset stocks and optimize resource allocation.How should commercial banks better carry out securitization for liquidity risk prevention and management.This has important practical significance for improving the management level of China's commercial banks and promoting their healthy development.Based on the current situation of liquidity risk and the securitization in commercial banks,this paper discusses the mechanism of the impact of credit asset securitization on the commercial banks' liquidity risk in China.I select five large commercial banks and ten small and medium-sized commercial banks as research objects.A panel regression model has been established to empirically test the impact of credit asset securitization on liquidity risk of commercial banks.The study finds that the securitization of credit assets have a positive effect on reducing the liquidity risk of commercial banks,and the impact on banks with different scales is different.The securitization services by large banks is more effective to the reduction of liquidity risk.Based on the analysis results from empirical analysis,this paper proposes countermeasures for China's development of credit asset securitization businesses.On the one hand,it is necessary to improve the information disclosure system for credit assets securitization;enrich the types of asset pools;expand the scope of investors.On the other hand,it is necessary to strengthen the construction of financial supervision and related legal systems;accelerate the establishment of a risk prevention and control system.