Research On Credit Risk Prevention Of Green Credit Asset Securitization

With the introduction of the concept of green development and green credit policies,the green credit business of banks has developed rapidly and its scale keeps expanding.However,green credit assets generally have problems such as large amount,long term and low liquidity.At this time,the emergence of green credit assets securitization has become an effective way to solve these problems.The securitization of green credit assets can not only revitalize the stock of green credit assets of banks and release liquidity,but also expand the scale of green loans again and promote the development of green economy.However,while the securitization of green credit assets brings many benefits,it also faces potential credit risks.Due to the complex structure of green credit asset securitization transactions,the large number of participants,and the influence of external factors such as policies and the environment,its credit risk is more difficult to identify.Therefore,in the development process of green credit asset securitization,it is of great practical significance to identify and prevent its credit risk.Firstly,this paper analyzes the current situation and credit risk of the green credit asset securitization in China based on the basic theory of credit risk and its prevention of the green credit asset securitization.Secondly,the case of "Feichi Jianrong 2019-1" is taken as the research object to analyze the credit risk of the originator,the credit risk of the underlying assets and the credit risk of the third party.At the same time,based on these three kinds of credit risks,a specific study on the credit risk prevention measures adopted by "Feichi Jianrong 2019-1" has been carried out.The study found that many measures of the product are effective,but there are also some problems,mainly including excessive concentration of basic assets into the pool,lack of external credit enhancement,imperfect disclosure of green information and unestablished green credit rating.Finally,based on the analysis of credit risk prevention of "Feichi Jianrong2019-1",the paper puts forward targeted credit risk prevention suggestions for green credit asset securitizations,mainly including improving laws and regulations,carefully screening the underlying assets into the pool,optimizing the structure design,promoting the green credit rating and improving the system of information disclosure.