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论文编号：	8026
作者编号：	2120132790
上传时间：	2015/12/10 14:38:49
中文题目：	S银行资产证券化发展的可行性与风险控制研究
英文题目：	The Feasibility and Risk Control Research
指导老师：	李国林
中文关键字：	商业银行；资产证券化；金融创新；风险管理
英文关键字：	Commercial Bank;Asset securitization;Financial innovation;Risk management
中文摘要：	资产证券化作为近三四十年来世界金融领域最重大和发展最迅速的金融创新和金融工具，是未来商业银行发展的核心业务。在利率市场化改革的进程中，我国正式的资产证券化进程经历了第一阶段2005年-2007年的试点，第二阶段2007年-2012年由于遭受金融危机的影响而搁置，以及第三阶段2012年至今的再度发展，发展的道路坎坷，但总算迎来了改革的春天。目前，由于经济环境的改变加之政府经济思路转变,通过资产证券化业务的发展以盘活金融体系存量资金、调整资源配置、缓解经济流动性紧张越来越被重视，资产证券化业务的开展有效的促进经济结构调整和中国经济转型，更好的支持了实体经济发展。 S银行于2014年12月底在香港联交所挂牌上市。作为一家上市初期的城市商业银行，在经济下行的压力下，如何能够有效的应对利率市场化的改革，同时拓展融资渠道、优化资产负债结构、增强中间业务收入、进行业务结构的调整，深化战略定位进而增强品牌价值是S银行目前发展的重中之重。由于资产证券化业务具备增强资产流动性，化解不良贷款，转移风险，提高资本充足率，改善盈利结构等经济功能，是S银行目前应对改革变动，战略转型的必经之路。 本文首先回顾了国内外信贷资产证券化的历史进程，并剖析了资产证券化的基本概念与相关理论框架。然后在分析S银行目前的经营状况、发展环境的基础上探究其开展资产证券化的动因，从技术进步的推动、政府及监管机构的促进、以及自身及市场需求四个角度探究其实施资产证券化的可行性。最后，对于S银行开展资产证券化进程中的信用风险、违约风险、操作风险及政治风险进行研究，找出针对不同风险的识别与应对方案，全面提升S银行的风险管理水平。
英文摘要：	Asset securitization will be the core business of commercial banks in the future as the most significant and the world's fastest growing financial innovation and instruments in nearly four decades. In the process of market-oriented interest rate reformation, the formal process of asset securitization went through the first pilot phase from 2005 to 2007, the second stagnant phase from 2007 to 2012 due to the impact of the financial crisis, and the third phase from 2012 till now. Finally we embrace the spring of reformation though we’ve been through a bumpy road in reformation. Currently, it has caused high attention that revitalizing the financial system and stock funds, adjusting the allocation of resources and alleviating the economic liquidity squeeze through the development of asset securitization due to the changes in the economic environment coupled with the economic idea of the government. Asset securitization business has effectively promoted economic restructuring and China's economic transformation, and has supported the real economy better. S Bank listed on the Hong Kong Stock Exchange at the end of December 2014.?As an initial listing urban commercial bank, it’s the most important to effectively deal with market-oriented interest rate reformation, while expanding financing channels, optimizing the structure of assets and liabilities, enhancing intermediate business income, adjusting business structure, deepening strategic thus enhancing the brand value under the pressure of the economic downturn.?Since the asset securitization business could enhance liquidity, resolve non-performing loans, transfer risk and improve capital adequacy ratio, improving the profit structure and so on, it is the road that S Bank currently response to changes in the reformation and strategic transformation. This paper reviews the history of credit asset securitization process and analyze the basic concept of asset securitization and related theoretical framework. Then it explores the motivation of asset securitization in S bank on the basis of current operating conditions and the development environment. It also explores the??feasibility of asset securitization through the promotion of technological progress, government and regulatory agencies, as well as their own and market demand.?Finally, it explores the credit risk, default risk, operational risk and political risk in the process of asset?securitization,?and?find out the solutions to risk identification and response, so that it could enhance the risk management level of S Bank.
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