Securitization in China: Déjà Vu?

In China, securitization has been promoted as a means of reducing reliance on the shadow banking system and ensuring that enough credit keeps flowing to a slowing economy. A cure for China?s banking woes may, in fact, be the instrument that nearly brought down the global financial system - securitiz...

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Published inThe journal of structured finance Vol. 21; no. 3; pp. 36 - 50
Main Author Buchanan, Bonnie G.
Format Journal Article
LanguageEnglish
Published London Euromoney Trading Limited 31.10.2015
Pageant Media
Subjects
Asset backed securities
Balance sheets
Banking industry
Collateralized loan obligations
Commercial banks
Corporate bonds
Corporate debt
Corporate governance
Economic conditions
Economic crisis
Financial markets
GDP
Gross Domestic Product
Laws, regulations and rules
Mortgage-backed securities
Regulation of financial institutions
Regulatory approval
Securities markets
Securitization
Studies
Universal banking
Volatility
East Asia
South Korea
China
Japan
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Abstract In China, securitization has been promoted as a means of reducing reliance on the shadow banking system and ensuring that enough credit keeps flowing to a slowing economy. A cure for China?s banking woes may, in fact, be the instrument that nearly brought down the global financial system - securitized products. The author examines the history and structure of the Chinese securitization market. Whereas the US securitization market developed as a means to accelerate liquidity, the Chinese securitization market was initially established to deal with non-performing loans. The article discusses the pre- and post-2008 Chinese securitization market and provides an overview of newer securitized products being introduced to China in an effort to boost confidence in the banking sector.
AbstractList In China, securitization has been promoted as a means of reducing reliance on the shadow banking system and ensuring that enough credit keeps flowing to a slowing economy. A cure for China?s banking woes may, in fact, be the instrument that nearly brought down the global financial system - securitized products. The author examines the history and structure of the Chinese securitization market. Whereas the US securitization market developed as a means to accelerate liquidity, the Chinese securitization market was initially established to deal with non-performing loans. The article discusses the pre- and post-2008 Chinese securitization market and provides an overview of newer securitized products being introduced to China in an effort to boost confidence in the banking sector.
Audience Trade
Author Buchanan, Bonnie G
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SubjectTerms Asset backed securities
Balance sheets
Banking industry
Collateralized loan obligations
Commercial banks
Corporate bonds
Corporate debt
Corporate governance
Economic conditions
Economic crisis
Financial markets
GDP
Gross Domestic Product
Laws, regulations and rules
Mortgage-backed securities
Regulation of financial institutions
Regulatory approval
Securities markets
Securitization
Studies
Universal banking
Volatility
Title Securitization in China: Déjà Vu?
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Volume 21
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