Economic and psychological aspects of estimation of risks of securitization of banking assets

Abstract

The article describes the problems of introduction of asset securitization in Russia in terms of standardization of processes in the field of risk management and the establishment of risk management profession considered the key principles and stages of financial risk management, asset securitization model are studied. The attractiveness of securitization is the company's financing capabilities by transferring assets from their balance sheets, or borrowing against those assets to refinance the original loan at a fair market rate. The possibilities of a securitization, its advantages and disadvantages. Particular attention is paid to the securitization crisis in the global financial market. The positive aspects of securitization include: the possibility of financing through the sale of assets to a specially created legal entity; serious impetus to improve the efficiency of the banking sector; opens up direct access to the global financial market; reduces all funding costs; limits credit risk to asset risk; improves the balance sheets of banks, corporations; promotes access to various sources of funding; reduction of the cost of attracted financing; optimization of the structure of the investment portfolio; securitized assets are less subject to event risk. In Russia, the securitization market is growing at a high rate and also has potential in its existence. But since the legal system is underdeveloped in our country, most likely it is the main reason that the ratings of securitization transactions are limited. The upper limit of the rating in the end, perhaps, will be limited by event risks.