金融学院知识库

  随着经济的发展，资产证券化慢慢成为了企业融资的新型工具，它可以降低企业融资成本，使企业获得更高的收益。近几年来，随着大数据和互联网技术的发展，众多互联网消费金融公司也纷纷被这个新型融资工具所吸引，利用自己的平台优势，设立资产专项计划进行交易。互联网金融公司通过发行ABS产品，不仅拓宽了融资渠道，而且降低了融资成本，促进了企业的快速发展。然而，在互联网金融公司进行资产证券化的过程中，存在着各种各样的风险，但是大多数企业并没有很强的风控意识。因此，如何降低企业在资产证券化过程中存在的风险就成为了互联网消费金融公司关注的重点。

  本文以小米小贷资产支持证券作为案例，从与基础资产相关的风险、与资产支持证券相关的风险、与专项计划管理相关的风险和其他风险四个方面对案例进行风险分析。同时，本文也分析了小米小贷资产证券化风险防范的具体措施。最后，本文对小米小贷资产支持证券风险防控的优点与缺点进行归纳总结，得出小米小贷在资产证券化过程中采用的风控手段是有效和完善的结论，并对小米小贷和我国互联网消费金融公司资产证券化的发展提出相关建议：互联网消费金融公司应当发挥大数据对资产证券化业务的推动作用；适当地选择合适的外部増信措施来降低风险；政府应严格控制互联网消费金融公司的杠杆率；国家应当不断完善法律制度、加强市场监督，促进互联网消费金融公司的健康发展。

    With the development of economy, ABS has gradually become a new tool for enterprise financing. It can reduce the financing cost and enable enterprises to obtain higher income. In recent years, with the development of big data and Internet technology, many Internet consumer finance companies have also been attracted by this new financing tool, using their own platform advantages to set up special asset plans for transactions. By issuing ABS products, Internet finance companies not only broaden financing channels, but also reduce financing costs and promote the rapid development of enterprises. However, in the process of ABS of Internet financial companies, there are various risks, but most enterprises do not have a strong sense of risk control. Therefore, how to reduce the risk of enterprises in the process of asset securitization has become the focus of Internet consumer finance companies.

    Taking Xiaomi microfinance ABS as a case, this paper makes a risk analysis of the case from the aspects of risks related to basic assets, asset-backed securities, special plan management and other risks. At the same time, it also analyzes the specific measures to prevent the risk of ABS of Xiaomi microfinance . Finally, this paper summarizes the advantages and disadvantages of the risk prevention and control of ABS of Xiaomi microfinance, concludes that the risk control means used by Xiaomi microfinance in the process of asset securitization is sound and effective, and puts forward relevant suggestions for the development of ABS of Xiaomi microfinance and China's Internet consumer finance companies: Internet consumer finance companies should play a role in promoting the asset securitization business by big data; Appropriately select appropriate external credit enhancement measures to reduce risks; The government should strictly control the leverage ratio of Internet consumer finance companies; The state should constantly improve the legal system, strengthen market supervision, and promote the healthy development of Internet consumer finance companies.