Research On The Impact Of Credit Assets Securitization On Commercial Banks' Risk-Taking In China

Facing the increasingly fierce competition in the financial market,commercial banks urgently need to get rid of the inherent business model and seek business innovation under the premise of reasonable risk control.Credit asset securitization is highly praised by the banking industry for its advantages in provision of liquidity and risk diversification.It is a new type of risk management tool with a high cost performance.However,there are still imbalanced development among entities,policy-oriented but endogenous motivation Insufficient and other issues.Therefore,the impact of credit asset securitization on China's commercial banks' risk-taking is a hot issue in recent yearsResearch on the impact of securitization of credit assets on commercial banks'risk-bearing is still widely debated by scholars at home and abroad.Most early scholars suggested that securitization business will help banks reduce risk-taking,but some scholars have empirical research through the US market and other data after the financial crisis Later proposed that the securitization business may also increase the bank's risk-taking.It can be seen that the relationship between the two is affected by a combination of internal and external factors such as bank characteristics and macro environment,and the impact mechanism is relatively complicated.At present,the domestic credit asset securitization business has begun to take shape,and bank participation has also increased.The number of samples and time span are more abundant than before.Therefore,this article considers more internal and external factors to conduct further research on the Chinese marketThis article first analyzes the relevant impact mechanism from a theoretical level,and then conducts a more comprehensive empirical study from the three aspects of bankruptcy risk,credit risk and liquidity risk through sample data.In addition,this article takes into account that different types of banks in the Chinese market differ in terms of business model,policy support,and risks they face,and their risk-taking's direction and degree is also affected by credit securitization business.So this article also makes grouped research,the conclusion is as follows:(1)From the perspectives of bankruptcy risk,credit risk and liquidity risk,the expansion of the scale of credit asset securitization business will help commercial banks reduce their own risk-taking,and the empirical results are robust.(2)After considering the nature of banks,the empirical results of large banks and small banks are different.The large bank's securitization business is conducive to reducing its own risk-taking from three aspects.The securitization business of small banks is conducive to reducing risk-taking from the perspective of credit risk and liquidity risk,but it has increased its risk-taking from the perspective of bankruptcy risk.The conclusion of this article is of practical guiding significance for commercial banks to use securitization as a risk management tool more rationally and for regulatory agencies to carry out more targeted management work.Based on this,three suggestions are proposed:to steadily promote credit asset securitization business;to improve relevant Supervision system to prevent and control excessive risk-taking;strengthen the construction of credit asset securitization market system.