A Comparative Study On Risk Prevention And Control Of Credit Asset Securitization Between China And America

The securitization of credit assets was first introduced in the United States in the1970 s and was one of the most important innovations in the financial sector and was rapidly developing in other countries of the world.Especially after the impact of the subprime mortgage crisis in 2007,the world began to credit asset securitization of the role of new thinking,and increased the risk of credit asset securitization prevention and control.In view of China,in 2005,promulgated the "credit asset securitization pilot management approach" as a symbol,credit asset securitization pilot work officially started,in view of China's credit asset securitization development process is short,credit asset securitization theory and practice are there are more deficiencies.With the full liberalization of China's credit asset securitization business,the risk of securitization of credit assets began to show how to strengthen and perfect the risk prevention and control mechanism of China's credit asset securitization,play its role in promoting financial stability and improving financial security is particularly urgent and necessary.Through the analysis of the existing literature on the risk prevention and control of credit asset securitization,it is found that the development of credit asset securitization is affected by many factors.The main factors are the development mode,the system condition and the market environment.The unfavorable factors are credit assets the risk prevention and control of credit asset securitization mainly takes measures from the aspects of asset selection criteria,risk supervision system and risk management methods.The effect of risk prevention and control is affected by the influencing factors and prevention and control mechanism.This paper studies the risk prevention and control of credit asset securitization from the perspective of innovation,and links the influencing factors of credit asset securitization to the prevention and control mechanism of risk,and then explores the optimization strategy of credit asset securitization risk prevention and control.The development level of credit asset securitization in the United States is high,and the safeguard measures for the development of credit asset securitization and the prevention and control strategy for risk are important for our country.First of all,starting from the operation principle and risk formation mechanism of credit asset securitization,it mainly analyzes the operation flow and risk form of credit asset securitization.Secondly,taking the development process of securitization of Sino-US credit assets as the breakthrough point,this paper analyzes the development of creditasset securitization in China and the United States,the institutional conditions and the similarities and differences between the market environment and the risk factors of the development of credit asset securitization in China.Thirdly,this paper analyzes the problems existing in the risk prevention and control of credit asset securitization in our country by analyzing the similarities and differences between the credit risk prevention and control mechanism of credit assets in China and the United States.Finally,this paper draws a conclusion from the comparative analysis of the factors influencing the development of securitization of credit assets in China and the United States,optimization strategy of credit asset securitization risk prevention and control can be used to strengthen the system,improve the supervision system,standardize the macro environment and stability of the market environment product innovation pace,cultivate independent intermediaries,improve the level of risk management and other micro perspective.