Research On Credit Risk Management Of Financial Leasing Assets Securitization

With the development of China's economy,the role of financial leasing is increasingly prominent,but the financing of leasing companies need to solve the problem,asset securitization becomes a new financing channel.Because of the advantages of the financial leasing backed assets,the securitization products are favored by investors.However,it is necessary to admit that under the background of economic downturn and manufacturing weakness,it is important to pay attention to the credit risk of securitization of financial leasing assets and strengthen the management of credit risk.Since October 2016,there have been some leasing asset securitization credit risk events.This makes it urgent to focus on the credit risk of the financial leasing backed assets,and to strengthen the management of credit risk.This paper analyzes the credit risk of The Financial Leasing Backed Assets Of Baoxin International Finance&Leasing Co.,Ltd.as an example,mainly from the quantitative method to the securitization of the asset pricing,and found that the cost of the market is higher than similar products,mainly because of its credit risk premium.Then,the demonstration effect considering the product,we analyze the risk management framework from three phase angle.Although the total expenditure of the special plan is higher,the overall default rate is higher and the activity level of priority is higher.We also analyzed the same types of asset securitization products and the case are compared to show the example can be improved,obtained by comparative analysis,in order to put forward some targeted suggestions.Finally,considering the characteristics of the financial leasing industry,this paper puts forward some suggestions for future similar asset securitization products from the perspective of credit risk management.Hope to strengthen the credit risk management,credit risk management system to further establish asset securitization,to reduce the asymmetry of information asset securitization products,further reduce investors may face losses and ultimately reduce the asset securitization financing lease credit risk,and improve the efficiency of financing leasing asset securitization products then reduce the financing costs of financial leasing companies.