消费金融资产证券化的风险管理

Risk Management of Consumer Finance Asset Securitization

消费金融资产证券化发展迅速,但也面临着诸多风险,如资金风险、信用风险、利率风险、流动性不足风险、操作性风险、法律风险等。平衡消费金融创新与监管、消费金融风险与发展的关系,是健康有序发展的核心。加强消费金融资产证券化风险管理,应出台专门的消费金融资产证券化的法律法规;不断完善消费金融基础资产池监管体系,防范资金风险;改进消费金融资产证券化的发行机制、交易和质押机制;协调微观机构的风险监管与宏观审慎监管的关系,避免监管真空;回归消费金融本质,强调具有"消费场景"的消费金融,谨防套利风险;全面完善消费金融资产证券化的信息披露机制。

Consumer finance asset securitization is developing at a rapid pace. However, it faces various risks,including capital risks, credit risks, interest rate risks, insufficient liquidity risks, operational risks, legal risks, etc.Balancing consumer finance innovation and its regulatory, the development of consumer finance and the risks associated with it, are the core issues to orderly development. In order to strengthen the risk management of consumer finance asset securitization, special laws and regulations should be implemented; the foundation of consumer finance＇s regulatory system in order to avoid capital risks should be constantly improved; the mechanism of issuing assets in the securitization of consumer finance should be improved; the regulation of risk associated with micro organizations and the cautious coordination with macro regulations in order to avoid voids in regulation should be balanced; the essence of consumer finance should be restored by strengthening the environment for consumption in consumer finance in order to avoid arbitrage risk; and the mechanism of the announcement of information for consumer finance should be comprehensively improved.