Risk Analysis Of Debao Tianyuan Auto Loan Asset Securitization

According to incomplete statistics,the main financing source of auto financing companies is bank loans,but the financing period of bank loans is relatively short.Due to operational needs,bank loans are not enough to meet the capital needs of auto financing companies.Driven by the huge capital gap,auto financing companies are also trying to find new financing channels,and issuing asset securitization products is one of the new financing channels.But at present,China’s auto financing companies are still facing many problems when issuing asset securitization products.Taking "Debao Tianyuan 2018 phase I" as the research object,this paper uses the methods of literature research and case analysis to study the risks and potential risks of "Debao Tianyuan" asset securitization products in the process of asset securitization.First of all,in the analysis of risk management of design and issuance,through the introduction of the application conditions of pool loan,the age of the borrower and the loan interest rate of the product,the related problems of pool loan are deeply analyzed.Secondly,this paper analyzes the potential default risk,concentration risk and early repayment risk of the fund pool,combined with the product specific data,and then puts forward the possible improvement direction.Thirdly,it analyzes the risks of asset pool transfer,hierarchical structure,loan service institution selection,operation,and credit rating and credit enhancement in transaction structure and credit rating and credit enhancement.Finally,according to the relevant risks of BMW auto finance company for the product,the risk control countermeasures are discussed.It is considered that the company’s risk prevention and control ability can be effectively improved by strengthening the credit risk isolation,optimizing the transaction structure,improving the quality of asset pool,seeking external credit enhancement ways,strengthening post loan management and setting floating interest rate.The purpose of this paper is to improve the existing problems in the risk control of auto loan asset securitization products of BMW auto finance company,and put forward relevant feasible risk control suggestions according to the existing risk situation and potential risks,and also provide some improvement ideas for the risk management of the whole auto finance industry.