1. If the bank's loan is securitized, if it cannot be recovered, the loss of purchasing such securities will be borne by the investor in theory, but it also depends on whether there are other takeover arrangements or underlying agreements, which is equivalent to transferring the risk through the arrangement of operating mechanism. Another asset package generally contains multiple projects, and the risks are also dispersed to a certain extent. According to foreign experience, after securitization, bank loans will be packaged and split, rated by rating agencies, and then sold to investors in the secondary market. Since then, the risk of assets has been borne by investors, and this is how the subprime mortgage crisis in the United States was formed. In China, I don't know what the specific measures are and whether there will be government endorsement. This depends on the details.

2. Asset securitization is a financing form of issuing tradable securities supported by a specific portfolio of assets or a specific cash flow. Asset securitization only refers to asset securitization in a narrow sense. Since 1970, the National Mortgage Association issued mortgage-backed securities based on mortgage portfolio for the first time and completed the first asset securitization transaction, asset securitization has gradually become a widely used financial innovation tool and developed rapidly. On this basis, products such as risk securitization are now derived.