Research On The Asset Securitization To The Bad Property Of State-owned Commercial Banks

The bad bank assets of China's banking industry are been paid more attention in and out of our country.Especially the problems of the bad property of state-owned commercial banks will endange the safety of our country's finance system and the steady of economicis and policy. Because of the warnings of Asian's finance crisis,the bad bank assets of the four state-owned commercial banks were peeled off through adding the banking capital and founding the financal assets management companies by chinese government.The bad bank assets of the state-owned commercial banks are declined.Although this situation gets better,handling the bad bank assets is not only the management of banking,but also the needs of the finance reforms and open policy,according to the international experiences.Assets securitization is one way of handling the bad bank assets.It is important because of the low cost,structure finance,off-balance-sheet activities.It is the main financing technology which rises in the trend of finance innovation.And recently it becomes the most important finance innovation instrument in world finance field,which also develops very fast.Along with the state-owned commercial banks being listed,and improving their competing with the foreign banks in the opening situation,we should use this finance tool which is assets secritization amply.It can improve the process of the assets secritization of state-owned commercial banks and the rate of assets recovery and pervents or eliminates the finance risk.It has important significance on reducing the bad bank assets of the state-owned commercial banks and deepenning the finance system reform.Although the finance market is not consummate,the handling bad bank assets though the capital market still falls behind,the relating laws are not perfect,it is feasible to handling the bad bank asstes by assets secritization.So in the author's opinion,the study valuation of this thesis is practical,necessary and significant.This is the purpose of the thesis. The thinking and the study method of this thesis are as fllows:This thesis elaborates the meaning of the assets securitization and three basic theories which are property reorganization theory,risk-remote theory,credit-enhance theory.It gives a exact difinition to the assets securitization.Then,It analys the feasible way to the assets securitization of state-owned commericial banks between the macroscopic and microcosmis aspects,the inner and outside aspects and so on.It describes and analys the characteristics and experiences of the bad bank assets in USA.Then,it talks about the difficulties of assets securitization in our country,and concludes the scientific steps of assets securitization.This thesis gives us two examples which are Kai-yuan 2005 assets securitization of Construction Bank of China and the profit of assets securitization of Commercial and Industry Bank of China of Ning Bo branch.Finanly,it is the conclusions and policy suggestions of the thesis.1.The macro adjustments and centrols of Chinese government are affected fully.2.Designing the varieties of securities rationaly and constructing the pool of capital fund.3.Constructing the special purpose vehicle to sell the capital really.4.Enhancing the information of disclosure and consummating the credit rating.5.Developing collateralized debt obligations precedentially.6.Enhancing the technologise supporting of banking.7.Consummating the capital market of our country and developing the institutional investors.8.Constructing the unified supervision and coordination of assets securitization.9.Enhancing the related laws.