Research On The Influence Of Credit Asset Securitization On The Profitability Of Commercial Banks

Since the second quarter of 2018,the effect of"Deleveraging"policy has been gradually showing.The obvious contraction of social credit and the continuous tightening of real estate regulation have exerted great downward pressure on China's economy.GDP growth in the third quarter of 2018 fell to 6.5%,the lowest quarterly rate since the 2008 financial crisis.At present,with different degrees of contraction of internal and external demand,commercial banks,as the intermediary of raising and allocating funds for China's economic construction and development,and the link of financing of real enterprises in various sectors of the national economy,are now facing various new tests.Commercial banks,which are essentially enterprises,pay more attention to profitability.In this context,the securitization of credit assets,as a representative of all kinds of financial innovation products,contributes to the profitability of commercial banks in terms of financing and income.From the perspective of financing,commercial banks actively expand financing channels through credit asset securitization and strive to develop more diversified financing methods.From the perspective of operation,commercial banks can also vigorously expand intermediary business with the help of credit asset securitization business to improve the business diversity in operation.At present,the influence of credit asset securitization on bank profitability is mainly studied based on the data of commercial banks in developed countries in Europe and America.There are relatively few researches on this aspect in China,and the conclusions are not consistent.This paper takes China's listed commercial banks as examples to discuss the impact of credit asset securitization on commercial banks'operating efficiency.This paper first reviews the literature and research results at home and abroad.After that,the concept and classification of asset securitization are elaborated and the development status of credit asset securitization is introduced.Thirdly,financial theory is used to explain the influence of credit asset securitization on commercial banks'profitability,and"Qiantang 18"product of Hangzhou Bank is analyzed.In the empirical part of this paper,the author groups 20 commercia banks according to their assets and uses fixed effect panel data to prove the impact of credit asset securitization on commercial banks'profitability.The characteristics of the two groups were analyzed.At the end of the paper,the author summarizes the conclusions and gives some reasonable suggestions,including expanding the basic asset type,improving the supervision and examination policy,and promoting the construction of secondary market.