| Our country's housing mortgage securitization has experienced more than 10 years of development and expansion,but the scale of the increase is not obvious,but the world has the relative maturity of the mortgage market,such as the United States,the housing mortgage loan securitization rate is nearly seventy percent.In view of this,China's mortgage-backed securities still have great prospects for development.After 2014.China's financial market ushered in the interest rate market step by step,the financial market is rapid,coupled with the demographic dividend and government policies continue to improve.Under various conditions.More and more banks begin to realize the business transformation through the means of asset securitization,and at the same time achieve the purpose of reducing liquidity risk and activating assets.This case study--"Jianyuan 2016 the first phase of personal housing mortgage loan securitization is considering the timeliness and representative cases after the selection of MBS products,the project can be a status of MBS business of China's commercial banks reflect the representative,but also hope to provide a reference for the future expansion of the MBS business of commercial bank.After introducing the relevant theories of asset securitization,this paper expounds the history of asset securitization in China,and introduces the current development and the direction of asset securitization.As the analysis of the first phase of 2016 Jianyuan of personal housing mortgage loan securitization project,analysis of China's current lack of personal housing mortgage loans to support the status quo and characteristics of the existing securities.Mainly through the chart analysis,the contrast analysis and so on method carries on the research.The first phase of 2016 Jianyuan yuan MBS found that the construction has the basic characteristics of assets quality,structure arrangement and complete the transaction priority of securities investment risk low,but there are also low yields,the attractiveness to investors is insufficient,and the short term can not significantly improve the project sponsor Construction Bank financial index and market value,weaken the originator issue the will of the MBS.In addition,the two level market of asset securitization in China is not active enough,and lack of systematic laws and regulations and other market status,and to some extent,affected the enthusiasm of commercial banks to develop asset securitization business.In the first phase of reference Jianyuan 2016 advantages of MBS,and according to the case study of the problems found on the basis of the national industrial and commercial banks and other aspects,put forward to strengthen the legislation on asset securitization,promoting China's personal credit system construction,to speed up the asset securitization market of the two cultivate and choose the appropriate measures to increase trust into the pool of assets and policy suggestions. |
