Research On Securitization Of Credit Assets And The Stability Of Commercial Banks

Asset securitization is an important financial innovation product today,and an important financing tool in mature capital markets.Even after the impact of the subprime mortgage crisis,asset securitization business is still one of the directions of financial development.However,due to the late start of asset securitization in China,the relevant concepts were introduced in the 1990s.The pilot phase began in 2005 and was suspended for a period of time due to the subprime mortgage crisis.Both the scale of assets and the speed of development are far from the mature market.At present,there are widespread difficulties in financing the small and medium-sized enterprises in the real economy,heavy local government debt,and accumulation of credit risk in the banking industry.The asset securitization business is having the advantages of reducing financing costs and diversifying investment risks,through piloting and exploring securitization.Business is a feasible way to solve these hidden dangers.Therefore,after the regulatory authorities restarted the related business,the scale of product issuance will increase from 50 billion to more than 900 billion by 2018.Although the scale of the business has grown at a rapid rate.it is still dwarfed by the US's more than $2 trillion in issuance.Faced with the uncertainty of the stability of banks and the rapid development of business scale.it is important to study whether the risk transfer and increased liquidity can promote the stability of banks.Through the securitization of commercial banks as the research object,the paper analyzes the effect on bank stability and the relationship with the stability of commercial banks from the perspective of asset securitization.This paper firstly combs the relevant research results,analyzes the related reasons that affect the stability of the bank,and links with the characteristics and functions of the current asset securitization business.After that,the development history of commercial banks'credit asset securitization was compiled,which explained the overall operation and the practical significance of the current economic environment.Finally.an empirical analysis is carried out to test its effect on the stability of commercial banks from the perspective of the bank's bankruptcy risk level.The results show that asset securitization has a negative impact on the bank's stable operation,and further group testing,observing asset securitization The role of stability in banks that are in a different capital environment.The result also shows that the bank's securitization will increase its bankruptcy risk level.that is,the bank's stability level will decline.At the end of the empirical,a robustness test is performed to verity the validity of the results.Finally,based on the relevant theoretical literature and empirical conclusions,from the perspective of bank stability.some suggestions for promoting the sustainable and healthy development of the credit asset securitization market are proposed.This includes complementing and improving the legal framework,eliminating blind innovations in products.optimizing the rating system and promoting cross-border asset securitization.