During the year, the cumulative issuance of asset securitization products exceeded one trillion yuan

Author:Securities daily Time:2022.08.02

Due to the advantages of asset securitization products (ABS), which has high liquidity and can achieve assets, in recent years, it has gradually become an important way for financial institutions and enterprises to revitalize assets. The market size is continuously growing, and it has gradually become one of the mainstream products in the domestic bond market.

Although this year, under the influence of multiple factors, the circulation of ABS products in the domestic market has declined, but industry insiders generally expect that with the improvement of the domestic economy and the expansion of supply market demand in the second half of the year, the ABS market will gradually be active.

"Securities Daily" reporter found that according to data from the China Asset Securities Securities Analysis Network (CNABS), and found that as of August 1, my country's asset securitization market has been issued a total of 917 orders, and the cumulative issuance scale is 1078.076 billion yuan, compared with last year, compared with last year The same period was reduced by about 52%.

Specifically, among the ABS products issued this year, the credit ABS market has issued a total of 71 orders, with a distribution scale of 189.51 billion yuan, a decrease of 261.713 billion yuan from the same period last year. Compared with the same period last year, it decreased by 29.4401 billion yuan.

Credit ABS products are an important way for bank -based financial institutions to revitalize capital. From the perspective of the distribution category of credit ABS products since this year, the scale of personal automobile loan categories accounts for the largest proportion, with a total issuance scale of 130.348 billion yuan, accounting for about 68.78%of the total product scale; Yuan, accounting for about 12.95%of the total product scale. In addition, the loan category of small and micro enterprises was issued 12.763 billion yuan, accounting for about 6.73%of the total product scale; the total number of non -performing asset reorganization ABS issuance was 12.329 billion yuan, accounting for about 6.5%of the total product scale; the scale of personal consumer loan category issuance scale 9.528 billion yuan, accounting for about 5.02%of the total product scale.

Regarding the decline in the scale of ABS products this year, Bo Wenxi, the chief economist of IPG China, told reporters of the Securities Daily that the decline in the scale of ABS products since this year is mainly due to insufficient corporate borrowing power and loan demand.

"From the perspective of related data, the short -term loans and medium and long -term loans of residents and enterprises in the first half of this year have declined year -on -year, which directly led to insufficient underlying basic assets for the issuance of ABS products. The weakened before has led to the decline in enthusiasm and demand for financial institutions to issue various ABS products. "Huang Dazhi, a researcher at the Star Financial Research Institute, told the Securities Daily reporter.

Looking forward to the trend of the future, CICC's research report pointed out that looking forward to the ABS market in the second half of 2022, with the introduction of the series of stable growth policies, the real economy's credit demand and financing demand or marginal rebound. Half a year.

Bo Wenxi believes that the trend of the issuance of ABS in the future of financial institutions is still related to its own needs and the loan market conditions. However, because the ABS of the Category of Bad assets is involved in optimizing and improving the liquidity of assets, it will still be a hot spot for ABS issuance for a period of time. (Yu Junyi)