Research On The Design And Risk Control Of Financial Lease Asset Securitization Transaction Structure

As the development of economics,the number of national leasing enterprises increased rapidly.To the end of June 30 th 2015,this number has come to approximately 3,185.Comparing to the number in Dec 31 th 2014,this number has increased over 30.9%.The registered capital is about 10030 billion yuan,The National Leasing enterprises with total assets of 16271.8 billion yuan,raised almost 47.8% comparing with the previous year.In 2008,the number of national leasing enterprises is 107,after 7 years in 2015,this number has grown up to 3615 in China.However,the leasing industry is a capital-intensive industry,lack of funds has become a common bottleneck in this industry.The emergence of asset securitization,moves the lower liquidity of leased assets out of its balance sheet,and this action actives the inventory of leased corporate balance sheets,widening the financing channels.Based on the basic theory of asset securitization and systematic analysis of the leased asset securitization,my project majors in main target,relative features and possibilities in the field of assets leasing securitization.And I carried out a detailed analysis in the structuring of a trading project and make out a feasible enterprise asset securitization of financing lease transaction structure,and potential risks in the securitization process response is given.This study suggests that,spilling out finance lease assets securitization from the original owner of the assets of the securitization assets is the key in leasing assets securitization.And transfer the “true sales” to the SPV,realizing the underlying assets and the company’s credit risk isolation.