Research On The Operation Mechanism Of Backed Securitization Of JD Consumer Credit Line

The rapid development of the Internet industry has rapidly changed people's lifestyles.With the emergence of Internet+,Internet consumer finance has slowly penetrated into people's lives.Among them,the successful combination of e-commerce platform and consumer finance has brought development opportunity and challenge.The main research problem of this paper is the research on the operation mechanism of JD.com Consumer Credit Line Receivables Assets-backed Securities.The main ideas are: firstly,the basic situation of JD.com Consumer Credit Line Asset Securitization and the introduction of securitization process;then from the organizational structure operation,target mechanism and constraints Several mechanisms such as mechanism and guarantee and supervision mechanism focus on the operation mechanism of JD.com Consumer Credit Line asset securitization.It is concluded that the organizational structure of each transaction entity is operated by modularization;the target mechanism is to achieve the effective operation of the transaction structure as a whole.To achieve the rational distribution of the interests of the participating entities as an individual goal;the constraint mechanism is to achieve effective sharing of risks through internal constraints and external constraints;the safeguard mechanism requires policy support,financial support,structural arrangements and technical support to be in place at the same time,and finally the subjects are supervised Effective supervision by the department enables securitization transactions to operate effectively.Furthermore,the fourth chapter analyzes and evaluates the effect of the JD.com Consumer Credit Line securitization transaction,and verifies whether the transaction structure is efficient,coordinated and smooth from the perspective of organizational structure.From the perspective of the target mechanism,it is verified whether the sponsor is through the securitization transaction.Jingdong Century trade capital is enhanced,financing costs are reduced,financing channels are broadened;whether it can enable investors to obtain more income by purchasing asset-backed securities than to choose other investment methods;from the perspective of restraint mechanism to verify whether risks are effectively shared Analysis of the two indicators of bad debt rate and overdue rate.From the perspective of safeguard and supervision mechanism,the overall trading structure operation effect and the ability to control cash flow are analyzed.Based on this,the article provides some inspirations and suggestions for other companies to implement asset securitization.The main focus is on whether the quality of the underlying assets is high,whether the SPV of the risk-isolated special-purpose institution can be successfully established,whether the risk supervision can be implemented and effective prediction.Finally,the company can decide whether to carry out the asset-backed securities plan according to its actual situation and financial status,compare the financing cost of different financing methods,and choose the appropriate financing method.