We know that in 216, JD.COM issued the first domestic Internet consumer financial asset securitization (ABS) project, which was named JD.COM Baitiao Accounts Receivable Debt Asset Support Special Plan, and the project was officially listed on the Shenzhen Stock Exchange. In fact, such securities ABS are not uncommon in foreign countries, but it is greatly incomprehensible to our nationals.

what is p>abs?

ABS refers to asset-backed securities, which is a financial instrument with bond nature. It is a securities product supported by asset credit.

under normal circumstances, the issuance process of asset-backed securities is that the issuers of basic assets, namely commercial banks, savings and loan companies, mortgage companies, credit card service providers, consumer finance companies, etc., sell assets such as loans or receivables to a third party for special purposes, and in this way, the credit of related assets is isolated from the credit bankruptcy of sponsors. Investors in asset-backed securities are mainly hedge funds, pension funds, money market funds, insurance companies, banks and so on. The duration, repayment structure and means of credit enhancement of asset-backed securities are different, so the confirmation is mainly carried out by telephone quotation and agreement.

According to the statistics of China Securities Regulatory Commission and Financial Market Association, as of 28, the balance of asset-backed securities in the United States exceeded 1 trillion US dollars, accounting for more than 3% of the balance of the US bond market, making it the largest bond type, while the balance of asset-backed securities in Europe was 1.2 trillion euros, mainly concentrated in Britain, Spain, the Netherlands, Italy and other countries. In 25, China Development Bank successfully issued the first single credit asset-backed securities in the inter-bank bond market.

Up to now, * * * has issued various asset-backed securities, exceeding RMB 5 billion, and basic asset securities, including automobile mortgage, housing mortgage loans, high-quality credit assets and so on. The transaction methods of asset-backed securities, including the sale of cash bonds and pledge repurchase, etc.