| 摘要: |
| 在强大的市场需求和金融科技支持下，消费金融公司自正式试点以来呈现良好的发展态势，其中资产证券化成为消费金融公司的重要融资方式。资产证券化在助力消费金融公司增资扩容、改善流动性和提高运营稳健性的同时，也促使消费金融行业风险高并导致诉讼案件的增加。本文基于捷赢个人消费贷款资产支持证券的经验证据，明确了消费金融创新、消费金融风险与金融市场系统性风险管理之间的内在联系，揭示可以通过大数据精准获客、规范催收行为和智能风险防控等措施为消费金融市场发展保驾护航。因此，针对消费金融资产证券化，政府应制定专门的政策法规以强化风险管理，不断完善消费金融资产的监管机制，借助系统性风险管理来规避套利和资金风险，进而促进消费金融资产证券化的稳健有序发展。 |
| 关键词: 关键词：消费金融；资产证券化；个人消费贷款；风险管理 |
| DOI： |
| 分类号:F832 |
| 基金项目:基金项目：贵州省哲学社会科学规划重点课题“贵州企业债券违约风险预警研究”（21GZZD57）；中国博士后科学基金第66批项目“基于扎根理论债市暴雷的干预治理研究”（2019M663909XB）。 |
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| Consumer Finance Asset Securitisation and Systemic Risk Management Study |
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ZHANG Wen-qian1，PAN Wen-fu21,2
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1.（1.School of Accounting,Guizhou University of Finance and Economics;2.Institute of Industrial Economics of CASS）
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| Abstract: |
| Supported by strong market demand and financial technology，consumer finance companies have shown good development since the official pilot，with asset securitisation becoming an important financing method for consumer finance companies.While asset securitisation has helped consumer finance companies to increase capital，improve liquidity and enhance operational robustness，it has also contributed to a high level of risk in the consumer finance industry and led to an increase in litigation cases.Based on empirical evidence from Jetwin’s personal consumer loan asset-backed securities，this paper clarifies the intrinsic link between consumer finance innovation，consumer finance risk and systemic risk management in the financial market，revealing that the development of the consumer finance market can be protected by measures such as accurate customer acquisition through big data，regulation of collection practices and intelligent risk prevention and control.Therefore，for the securitisation of consumer finance assets，the government should formulate special policies and regulations to strengthen risk management，continuously improve the regulatory mechanism for consumer finance assets，and avoid arbitrage and capital risks with the help of systematic risk management，thereby promoting the sound and orderly development of consumer finance asset securitisation. |
| Key words: Key words：Consumer Finance；Asset Securitisation；Personal Consumer Loans；Risk Management |
