The Study Of Macro-micro Effect Of Commercial Banks' Securitization Of Credit Assets

As a kind of complicated financial innovation,the securitization of credit assets not only affects the commercial bank's asset liability management,liquidity provision and risk management,but also the process of structural productization to increase the wealth management channels for investors.The article uses a combination of quantitative analysis and qualitative analysis to thoroughly study the effects of the commercial bank credit asset securitization business in the practice of development in China,and systematically summarizes the important role of credit asset securitization in order to improve and develop China's asset security.The business provides a theoretical reference.This paper takes the credit asset securitization as the base point and the effect research as the purpose.The article first qualitatively analyzes the macro effect of securitization of credit assets from three major aspects,namely,the improvement of the promotion effect of financial markets,the solvency effect of financing difficulties for SMEs,and the effect of monetary policy transmission.The analysis results showed that the securitization of credit assets optimized the structure of the financial market,expanded the depth of the financial market,and improved the financial market system;the development of asset securitization in small and medium-sized enterprises did not make the SMEs stick to their own deficiencies,which broadened the financing of SMEs.The channels,to a certain extent,also resolve credit risk of commercial banks;the securitization of credit assets mainly affects the money multiplier,the currency circulation speed,and the asset price,which in turn affects the total supply of money and market interest rates,precisely because of the transmission of monetary policies.Efficiency is also affected.Secondly,the article combines qualitative analysis and quantitative analysis to study the micro-effects of credit asset securitization.It mainly analyzes the impact of credit asset securitization on the "security,liquidity,and profitability" of commercial banks.The empirical results show that credit assets There is a significant positive correlation between securitization and capital adequacy ratio,which shows that asset securitization enhances the bank's ability to withstand risks;securitization of credit assets has a significant negative correlation with loan-to-loan ratios,which shows that the development of asset securitization enhances the bank's liquidity level;The positive correlation between the securitization of credit assets and the ROE shows that asset securitization has improved the profitability of banks.At the end of the article,it was also pointed out that the process of credit asset securitization still involves risk reflow,bank moral hazard under information asymmetry,and adverse selection,which will reduce the stability of the banking industry and then affect the stability of the financial market.Therefore,it is necessary for financial regulatory agencies to improve the securitization of credit assets in terms of systems and laws.