Analysis And Application Of China's Non-performing Asset Securitization Pricing Technology

Along with our country economy "three phase superposition" effect of highlighting and deepening of the reform of supply side,downside risks to economic increasing,non-performing assets of commercial Banks into the acceleration phase,industry risk and regional risk exposed gradually,balance of non-performing loans and non-performing loan ratio trend "double up".The serious damage to the economic development of China and the stability of the financial system,become one of the problems we need to solve.Asset securitization is since the 1970 s,one of the world's most important financial product innovation has become the effective way to batch of disposal of non-performing assets of commercial bank.In actual propulsion of the non-performing assets securitization business,because of the bad assets recovery there is a big uncertainty,non-performing assets securitization pricing problem has become the main bottleneck restricting the development of industry.Pricing of non-performing assets securitization involves two problems,one is bad assets valuation issues underlying asset pool;The second is bad venture backed securities pricing problem.This article first to our country in practice by the disposal of bad assets disposal way and the formation of non-performing assets evaluation methods to make a comment.Secondly through the more mature markets with asset securitization pricing model,combined with the concrete situation in our country,puts forward some ideas of non-performing assets securitization pricing technology and pricing model.At last,by using multifactor linear regression model,combining with case history of bad assets disposal,establish regression empirical equation to forecast the non-performing assets securitization underlying asset pool.Non-performing assets securitization pricing problem is the problem,at home and abroad has not been formed a mature pricing model.Due to the amount of bad asset securitization business in China and time is limited,the lack of relevant data available,the securitization of non-performing assets pricing research is still in the exploratory stage.This article research there are still many shortcomings,many aspects still need to supplement and deepen.In the hope of the future with the bad assets securitization extensively developed,and the big data platform of continuous construction,to further improve the follow-up studies.