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论文编号：	10310
作者编号：	2120162888
上传时间：	2018/12/5 20:51:58
中文题目：	消费金融公司不良资产证券化研究
英文题目：	Research on the Non-Performing Assets Securitization of Consumer Finance Company
指导老师：	王永进
中文关键字：	消费金融公司；不良资产证券化；资产池；交易结构；多元回归模型
英文关键字：	Consumer finance company；Securitization of non-performing assets；Asset pool；Trade structure；Multiple regression model
中文摘要：	不良资产证券化是近百年来世界金融领域内的重大变革及创新，该金融工具的应用为世界银行体系的巨额不良资产的化解提供了全新的方式。随着我国经济建设的不断发展，金融行业出现了快速发展的大潮，小额贷款公司、互联网金融公司、消费金融公司在金融创新的大浪中建立起来，但伴随着新型信贷公司的迅猛发展，日益增高的不良成为目前中国各大金融机构亟待解决的问题。因此不良资产证券化在中国金融市场上孕育而生。 2005年我国商业银行首次开展不良资产证券化，但随着2008年全球次贷危机的爆发，该业务也一度停滞。然而随着我国经济不断发展，银行业以及非银类金融机构的不良资产持续上升，不良贷款余额居高不下。2016 年不良资产证券化试点重新开启，标志着暂停了近八年的不良资产证券化正式重启。随着近两年的不断探索，商业银行针对小微类、个人抵押类以及信用卡不良贷款进行资产证券化尝试，皆取得初步成功。 本文以我国消费金融公司的不良资产证券化为研究对象，根据目前我国消费金融公司不良资产证券化的现状及问题进行研究，分析研究背景及研究意义。首先进行深入的理论分析，从消费金融公司的相关概述、不良资产证券化的涵义及相关理论基础入手，介绍我国不良资产证券化相关概念与基本原理。其次，对我国消费金融公司不良资产的现状、成因以及不良资产处置面临的问题进行论述，进而分析我国消费金融公司不良资产证券化的可行性。接着详细的从我国消费金融公司不良资产证券化的资产池的确定、交易结构的选择以及定价的方法三部分确定我国消费金融公司不良资产证券化的整个流程设计。最后，针对我国消费金融公司不良资产证券化未来发展遇到的问题，提出我国消费金融公司不良资产证券化流程改进完善方案，另外，为促进我国消费金融公司不良资产证券化发展，应完善相关法律法规制度，搭建良好的市场环境。在结尾处阐述了对未来的展望，通过对不良资产证券化理论分析以及对我国消费金融公司不良资产证券化项目实施的研究，对于我国消费金融公司不良资产证券化的推行具有重要的现实意义。
英文摘要：	Non-performing assets securitization is a major reform and innovation in the world financial field in the past century. The application of this financial instrument provides a new way for the resolution of the huge amount of non-performing assets in the world bank system. The financial industry, with the continuous development of economic construction in our country, in the tide of rapid development, small loan companies, Internet financial companies, consumer finance companies set up in the wave of financial innovation, but with the rapid development of the new credit company, rising bad debts has become the problem urgently to be solved in China's big financial institutions. As a result, non-performing asset securitization emerged in China's financial market. In 2005, China's commercial Banks first carried out non-performing asset securitization, but with the outbreak of the global subprime crisis in 2008, the business was stagnant for a while. However, with the continuous development of China's economy, the non-performing assets of the banking and non-banking financial institutions continue to rise, and the non-performing loan balance remains high. The trial of non-performing asset securitization was reopened in 2016, marking the official restart of non-performing asset securitization which has been suspended for nearly eight years. With the continuous exploration in the past two years, commercial Banks' attempts to securitize small and micro, personal mortgages and credit card non-performing loans have achieved initial success. This paper takes the non-performing asset securities of China's consumer finance companies as the research object, studies the current situation and problems of the non-performing asset securitization of China's consumer finance companies, and analyzes the research background and significance. First of all, a deep theoretical analysis is conducted to introduce the concepts and basic principles related to non-performing asset securitization in China from the related overview of consumer finance companies, the connotation of non-performing asset securitization and relevant theoretical basis. Secondly, this paper discusses the current situation, causes and problems of the bad asset securitization of China's consumer finance companies, and then analyzes the feasibility of the bad asset securitization of China's consumer finance companies. Next, the whole process design of the non-performing asset securitization of China's consumer finance companies is determined from three parts: the determination of asset pool, the selection of transaction structure and the pricing method. Finally, aiming at the problems encountered in the design of the non-performing asset securitization project of China's consumer finance companies, the improvement and improvement scheme of the process of non-performing asset securitization of China's consumer finance companies is proposed. In addition, in order to promote the non-performing asset securitization of China's consumer finance companies, relevant laws and regulations should be improved to build a good market environment. At the end, this paper expounds the prospect of the future. Through theoretical analysis of non-performing asset securitization and research on the implementation of non-performing asset securitization project of China's consumer finance companies, it is of great practical significance for the implementation of non-performing asset securitization of China's consumer finance companies.
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