Research On Credit Risk Management Of Leasing-based Securitization

As a sunrise industry in the world,financial leasing industry has become an important part of China’s modern service industry.At present,one of the main difficulties facing China’s financial leasing industry is that the source of funds is single and the scale of business does not match.Asset securitization products,meanwhile,is a kind of financing methods in our country is developing rapidly,and bring a large number of low-cost funds,to help enterprises reduce the asset-liability ratio,make it no longer depends on bank deposits and interbank funding,so financial leasing companies issuing leased asset securitization products,but appeared frequently in the practice event of default,the threat to the interests of the investors.Therefore,as a financial leasing company,how to control the risks of asset securitization products and ensure the returns of investors has become the research issue in this paper.In this paper,the most important credit risks among risks are selected and analyzed in combination with cases,and the subject is the research on credit risk management of securitization of financial leasing assets.The research idea of this paper is as follows:firstly,a credit risk management system suitable for the issuance of asset securitization products by HZ company is constructed.The system is divided into three parts:credit risk identification,evaluation system and countermeasures.Secondly,the application of the credit risk management system of the fifth phase of HZ asset-backed securities issued by HZ company in 2016 and expiring in 2020 is studied to specifically analyze how to use the established credit risk management system for risk control.Finally,this paper points out the deficiencies of the current HZ phase 5 asset-backed securities in credit risk management,and puts forward corresponding Suggestions.At the same time,the research conclusions and deficiencies of this paper are put forward.Purpose and significance of this article is starting from the actual case of HZ company issuing asset securitization for the construction of credit risk management system,can expect to HZ company and similar size in the issue of asset securitization financing lease company put forward reference for credit risk management,reduce the risk of default of similar products,to better ensure the interests of the investors.