The reason is that there is a fault in the current calculation of capital adequacy, which motivates the banks to securitize their assets for regulatory capital arbitrage.
主要原因是现有的巴塞尔资本协定在银行资本充足率方面的规定存在一定的缺陷,使得银行为了“监管资本套利”而实施资产证券化。
参考来源 - 资产证券化对金融体系的影响研究