Risk Management Of Asset Securitization Of Internet Small Consumption Loan

With the rapid development of Internet technology,many Internet platforms are involved in the field of consumer finance.In just a few years,the Internet platform consumer finance has ushered in explosive growth,and the scale of various Internet-based micro consumer credit has been expanding.From the perspective of Internet microfinance companies,although the Internet platform has developed rapidly in these years,its infrastructure is still relatively weak.Under the background of the state's emphasis on preventing systemic financial risks,financial supervision is further tightened,which makes the financing of Internet micro consumer loan companies more difficult.How to effectively activate their own assets to obtain more external funds is the practical requirement for the further development of Internet small consumer loan companies.It is an effective way to improve the liquidity of small consumer loan companies through the securitization of credit assets.At present,the main issuers of the products related to the asset securitization of Internet micro consumer loans are relatively concentrated,and the product design is more complex than the traditional asset securitization,and the problems of product risk and compliance are more prominent.At the same time,the policy for such products is also uncertain,so that the issuance interest rate is higher.Therefore,it is of great practical significance to study the risk management of Internet small consumer loan securitization.In this paper,ant Huabai asset support project is selected as a case study,and ant Huabai asset securitization project is taken as the starting point.By combing the existing research literature,starting from ant financial's own needs and the structure of special plans,this paper analyzes the motivation of asset securitization of small consumer loans,the distribution and quality of basic assets,the circular purchase structure of special plans and internal credit enhancement measures.On this basis,the horizontal comparison of products in the industry is carried out,the financing cost of the plan is analyzed,and the risk management of the special plan of asset support is based on it.Through the core analysis and basic asset pricing analysis of the special plan for asset support,this paper reveals the risks of the special plan for asset support,and puts forward corresponding solutions for the relevant risks such as transaction structure,asset-backed securities and special plan.Finally,from the financial regulatory authorities and the Internet micro loan company two aspects of the relevant recommendations.