Research On Risk Control Of Ant Financial Micro-loan Asset Securitization

In the past decade,with the construction of China’s communication network infrastructure and the popularity of smartphones,the Internet economy,such as e-commerce and online social networking,has grown rapidly.With the help of the huge flow of its own platform and the innovative financial tool of asset securitization,Ant Financial quickly expanded its small loan business scale to 300 billion yuan with a capital of 3 billion yuan,becoming the leading enterprise in China’s Internet finance industry.However,Ant Financial transferred the huge risks brought by its operation model of 100 times leverage to commercial banks and other investors through asset securitization.This practice has undoubtedly buried a huge hidden danger to the smooth operation of social economy,and there is the possibility of inducing systemic financial risks.This has become the eve of its listing was an important reason for emergency suspension.This paper reviews literatures and theories related to risk control of microloan securitization,and believes that strengthening supervision of Ant Financial microloan securitization is an effective way to solve its potential crisis.This paper takes ant Financial’s small loan asset securitization related business as the research object,based on the special plan specification of Ant Financial’s small loan asset securitization,makes a detailed description and introduction of its asset securitization related situation.Subsequently,risk expert survey and enumeration method,production process analysis method,decomposition analysis method and comparative analysis method are used to identify the risk of ant Financial micro loan asset securitization.Identify the ant gold suit asset securitization in the underlying assets,information asymmetry,the internal control measures does not reach the designated position,etc,there is a risk of related problems,clarified the ant gold take use of asset securitization will its huge microfinance faces a series of risk transfer to the practice of social investors may induce systemic financial risk point of view.Later,the ant gold suit small loan asset securitization of housing mortgage loan securitization with the United States has carried on the case analysis,obtained the quality problem in the underlying assets,asset securitization operation mode,risk spread and harm etc.There are a lot of similarities,discusses the necessary of carry on the strict regulation again.Based on this,this paper gets the following enlightenment:first,accelerate the construction of asset securitization legal system and supervision system;Second,accelerate the construction and application of the national unified credit investigation system;The third is to improve the asset securitization information disclosure guidelines and establish a unified information disclosure platform.