Research On Pricing Method Of Internet Consumer Credit Asset Backed Securitization

Internet consumer Credit is a new type of financial service model that the Internet applies to consumer credit business.The explosive growth of its application pattern is accompanied by a gradual accumulation of risks.From June 2018 to mid-July 2018,within 50 days,163 P2 P network loan platform appeared to shut down the platform,winding up and so on.From the reasons caused by the wave of risk concentration in Internet credit enterprises,although it lies in the platform’s own business defects and irregularities,but only from the business process,the key is still because of the centralized payment caused by the breakdown of enterprise funds.For Internet consumer Credit enterprises,the financing cost of asset securitization is low,at the same time,through the implementation of asset securitization mode can invigorate the precipitation assets,therefore,exploring the implementation of asset securitization has become one of the effective means for Internet consumer Credit enterprises to implement financing.In the process of implementing the securitization of Internet consumer credit assets,how to reasonably price is the key problem of the success of asset securitization projects,but the process of pricing at the same time is also more complicated.Firstly,this paper summarizes the research situation of internet consumer credit asset securitization at home and abroad,and clarifies the core elements such as the concept,main characteristics and transaction structure of internet consumer credit asset securitization.On this basis,by analyzing the distribution characteristics and pricing influencing factors of internet consumer Credit asset securitization,on the basis of the existing pricing methods,this paper tries to explore the establishment of a set of models suitable for the pricing of Internet consumer Credit asset securitization products from the perspective of enterprises.In order to provide useful reference for the current Internet consumer credit companies to implement the pricing of product asset securitization.The concrete steps are to use the option adjustment spread method under Monte Carlo simulation to find out the income of enterprise implementing asset securitization,and the second step is to obtain the coverage effect of the income of asset securitization by the enterprise through the net present value method of the project,so as to judge whether it should adopt the financing means of asset securitization,Finally,the critical value of asset securitization method is calculated by adjusting the present value method.The empirical part of this paper takes Debon’s Huabei asset support special plan as an example to analyze the main situation of its project,and through the relevant data of the project to verify the model,and finally from the enterprise point of view to analyze whether it can take the asset securitization method financing means,and through the model to find its implementation of asset securitization pricing critical conditions.On the basis of the existing asset securitization pricing method,this paper tries to change from the investor’s angle of view to the analysis from the enterprise perspective,taking into account the income and cost of the enterprise implementing the asset securitization method,in order to provide the feasible financing method for the Internet consumer Company.