金融学院知识库

自2012年以来，国内生产总值增速逐渐降低，我国经济的发展进入了三期叠加，随之而来的问题是我国将面临较长期的金融和经济周期“双下行”的压力。国有银行作为我国金融市场中的中坚力量，其不良资产的规模呈现出逐年递增的态势。不良资产的堆积使得银行的资源无法合理分配，影响银行的声誉。从宏观层面来讲，不良资产过高会给金融市场带来隐患危机。
新时期的不良资产增速过快且结构复杂，传统的处置方法已然捉襟见肘，难以高效快速的处置大规模的不良资产。于是2016年，我国正式重新启动了不良资产证券化的相关业务，并取得了显著效果。但由于之前经历了长达8年的空白期，我国不良资产证券化尚存在诸多问题，此时我们必须摆脱传统的思维，深入分析总结新时期不良资产的特征，创新完善不良资产证券化的模式，缓解目前我国商业银行不良资产的严峻现状，进一步提升我国金融业的发展水平。
针对上述情况，本文首先系统性的介绍了不良资产证券化的相关理论基础，然后参考了国际处置的经验，深入分析我国目前不良资产证券化的现状，然后以“建鑫2019-1”产品为案例进行研究，通过对产品优劣势的总结进一步推断出目前我国不良资产证券化存在的问题主要集中在法律政策层面与市场层面，最后针对以上问题对创新改进不良资产证券化提出合理有效的建议，以期能够促进我国商业银行和金融市场健康稳定发展。

Since 2012, the GDP growth rate has gradually slowed down, and China's economic development has entered a three-phase superposition. The consequent problem is that China will face the long-term "double downward" pressure of financial and economic cycles. As the backbone of China's financial market, the scale of non-performing assets of state-owned banks shows an increasing trend year by year. The accumulation of non-performing assets makes the resources of banks unable to be reasonably allocated and affects the reputation of banks. Speaking from the macro level, the high level of non-performing assets will bring hidden dangers to the financial market crisis.
In the new era, the growth rate of non-performing assets is too fast and the structure is too complex. The traditional disposal methods are already too short to deal with large-scale non-performing assets efficiently and quickly. Therefore, in 2016, China officially restarted the related business of NPL securitization and achieved remarkable results. Before but because has experienced eight years of blank period, non-performing assets securitization in our country still has many problems, we must get rid of the traditional thinking, in-depth analysis summarizes the characteristics of the bad assets in the new period, innovative perfect non-performing assets securitization mode, alleviate the current severe situation of non-performing assets of commercial Banks in our country, further enhance the development level of the financial industry in our country.
In view of the above situation, this paper first systematically introduces the relevant theoretical basis of NPL securitization, and then makes an in-depth analysis of the current situation of NPL securitization in China by referring to the experience of international disposal, and then takes "Jianxin 2019-1" product as a case study. Through the product summary of the advantages and disadvantages in the further deduce the problem of non-performing assets securitization in our country are mainly concentrated in legal policy level and the market level, and finally to solve above problems of innovation to improve the reasonable and effective Suggestions for non-performing assets securitization, in order to promote healthy and stable development of China's commercial Banks and financial markets.