Research On Asset-backed Notes Of Automobile Financial Leasing

In China,the automobile industry has increasingly become an important part of supporting the real economy,and auto finance lease is a part of the automobile industry.In recent years,the popularization of auto finance lease has been accelerated in China,and its acceptance by consumers is getting higher and higher.Its business has rapidly covered the third,fourth and fifth tier cities and rural areas in China.It has made outstanding contributions to the realization of inclusive finance.For auto finance leasing enterprises,the lack of sufficient capital is an important factor restricting their development.With the rapid development of asset securitization in China,this financing method has attracted the attention of auto finance leasing enterprises and gradually become an important source of funds for auto finance leasing enterprises..With the practice of capital securitization and the improvement of relevant laws and regulations in China,automobile finance lease asset securitization has some problems in practice.At present,the COVID-19 pandemic has seriously affected the global automotive industry chain,and even caused some automakers to stop production.Meanwhile,some credit problems often occur in the capital market.Therefore,it is of great significance to study and explore the asset securitization of auto finance lease.This article through to anji leasing co.,LTD.2018-2022 issued a total of 6 "anji ABN" series of auto financing lease asset-backed paper products were analyzed,and the underlying asset circumstance of products over the years,credit enhancement,risk isolation conditions and risks related to summarize cases,and the conclusion is given in the passage and related countermeasures suggested.The results show that "Anji ABN" series of auto finance lease asset-backed notes adopts less credit enhancement.Mainly through the hierarchical structure design for internal enhancement.On the analysis of the risks in the implementation of the whole case,including credit risk,prepayment risk,interest rate risk and so on,combined with the characteristics auto financing lease industry,this paper argues that in the auto financing lease asset securitization products are the most important is the quality of the underlying assets,and to strengthen credit means,for enterprises in the product may encounter risk,should strengthen their own ability.It is hoped that the analysis of this case can help solve the problems related to the securitization of auto finance lease assets,provide reference for relevant enterprises,and promote the better and faster development of the industry.