A Case Study Of Asset-backed Securities By Housing Provident Fund Loan In L City

In order to solve the problem of insufficient liquidity of the provident fund management center,the State issued the Notice on the Development of Personal Housing Loan Business of the Housing Provident Fund in 2014,encouraging conditional local pilot provident fund ABS.A total of 18 provident fund ABS products have been issued in China,and the provident fund ABS is a relatively new innovation tool in China,so it is significant to explore it.This case chooses the ABS special plan of the reserve fund issued by L city as the research object.The article promotes the analysis of the article by discussing its problems through the summary and introduction of the special plan.The order of analysis is to firstly analyze the motivation of issuance,then to forecast future cash flow and analyze the risk,next to analyze the reasons for liquidation,and finally to analyze the financing effect.In the process of risk analysis,the AHP method is used to calculate the risk level effectively.Based on the AHP method,the Z value is calculated by using the grey system theory,and the overall risk is evaluated by comparing the Z value.Collating analysis and induction of the special plan,this paper draws a conclusion that the housing provident fund in L City is worth inspiring.The special plan of L City has done very well in post-loan management,credit enhancement measures and asset pool distribution.Among them,perfect post-loan management can form basic assets with good credit quality,reasonable credit enhancement measures can effectively slow down the phenomenon of interest rate inversion,and perfect transaction structure can form a better asset pool.These things are treasure to its issuance.At the same time,it also puts forward enlightenment and corresponding countermeasures.Firstly,the right legal and accounting system should be built;secondly,we have to standardize the data;thirdly,we need to expand the investment scope of the provident fund center and incorporate the ABS products of provident fund into the qualified collateral of the central bank;lastly,we need to establish systematic risk prevention measures.