A Case Study Of China 's Auto Loan Securitization

Asset securitization originated in the United States in 1970 s, initially, it is to exchange bank stock of loans through the issuance of securities, In order to achieve the purpose of financing for banks. China promulgated the “ credit asset securitization pilot management approach”,in 2005, which marks China’s securitization of credit assets of pilot launched.by the 2013 the securitization of credit assets started again. With the constant increasing of personal income, our country automobile ownership increased gradually. Even more, China’s automobile consumer groups generally are younger, coupled with the quality and performance of automotive requirements higher. most people choose to loan to buy a car, which is bound to the birth of a large number of car loans. Revitalize This part of the assets can not only release the liquidity of commercial banks, but also can improve the automobile financial company’s financial situation. On basis of introducing car loans asset securitization This paper select Pingyin 2015 and Fu Te 2014 to analyze and make a compare of this two products to find the advantage and disadvantage.Last make a summarize the problems and put forward relevant countermeasures and suggestions.This paper contains six chapters: Chapter 1, picture the background and significance of this article, combs the domestic and foreign related research. It explains the ideas and methods of this study proposed the possible innovation and deficiency. In the second chapter, we introduce the theory of asset securitization, and sort out the situation of China’s car mortgage and securitization. In the third chapter, the author compares two products, mainly from three aspects: the main body of the transaction, the arrangement of the trading structure and the standard of the pool of assets. The fourth chapter, mainly from the credit enhancement level and basic asset quality two aspects in-depth analysis of the advantages of the two products, credit enhancement mainly analyzed from three aspects of the reserve account and offset risk accounts, pooling risk accounts, found silver 2015 launched by Peace bank in this regard has obvious advantages; underlying asset quality mainly analysis in the following five angle, the historical loan portfolio overdue, divergence of the underlying assets of the risk, loaner repayment ability, asset base elements of the contract and the initial loan value rate, found that 2014 Yuan Fu asset quality is better than Pingyin 2015. The fifth chapter, summarizes the related problems and gives my personal corresponding countermeasures.