Study On The Risk Of Green Asset Securitization In Financial Leasing Enterprises

In recent years,China’s economy has always been in a phase of rapid development,and the country has been vigorously promoting the "green" factor into enterprises and individuals in order to promote the construction of ecological civilization.However,the lack of attention to the green industry has resulted in the debt risk of companies in their formative years remaining high every year.How to ensure that the capital structure of enterprises is optimized,but at the same time can better meet the daily financing needs of individual enterprises,improve the liquidity of assets,will improve the situation of cash flow,gearing,while reducing financial risk,the securitization of corporate assets was born.This paper uses BYD Leasing as a case company to analyze the green asset securitization project of a financial leasing enterprise,the risks involved in the special scheme and the corresponding control measures.Through the basic introduction of BYD Leasing,the specific financing situation and the relevant products of the special plan for asset-backed securities,the risk points of the project are identified and the specific control measures are summarized,in an attempt to analyze the risks involved in the green asset securitization of BYD Leasing as far as possible,summarize and summarize the risk control measures,and strive to provide financial leasing enterprises with the opportunity to issue green asset securitization products in the future To provide ideas and inspiration.In terms of policy,specific analysis is used to promote green financial policies in a better direction,while in terms of market cases,more cases are provided for analysis and research,so that China’s green asset securitization can continue to develop and progress,enabling green asset securitization to occupy a place in the overall financing ratio.The conclusions from the studies are: during the entire issuance cycle of the BYD Leasing green asset securitization project,there were several risks: risks related to the underlying assets,including risks related to asset concentration,whether the lessee would default,overdue and surrender risks,and risks related to cash flow forecasting;secondly,risks related to the management of the special scheme,such as whether the participants concerned would survive,and whether there would be There are also elements of risk associated with asset-backed securities,including rating risk,early termination risk,interest rate risk,etc.The existence of the above-mentioned risks requires the ability to control the risks through corresponding measures,mainly in the following areas.Firstly,regarding the underlying assets of the underlying assets,increase the diversification of the underlying assets;for the risk that the lessee is unable to pay,BYD Leasing provides the difference payment for it,which enables the project to proceed smoothly;it can also carry out the analysis of cash flow measurement.Secondly,the risk of insolvency of the original equity holders and scheme administrators,as well as the risk of the absence of asset servicing institutions.The insolvency isolation mechanism helps isolate the underlying assets of the securitized product from different participating institutions,so by finding a suitable successor institution,adverse effects can be effectively avoided,and the absence of asset servicing institutions can set up an accelerated liquidation event to reduce the losses arising from the risk.Thirdly,the risks associated with asset-backed securities,including rating,early termination and interest rate risks,are controlled by taking measures to strengthen rating management,forming a liquidation team and paying attention to interest rate fluctuations.