Based on the unbalanced panel model, a selection has been made of the data of 44 commercial banks in China from 2014 to 2018, along with a total of 220 samples, followed by a discussion of the main factors affecting the participation of commercial banks in credit asset securitization. The results show that the state-owned commercial banks and joint-stock banks carry out credit asset securitization for the purpose of liquidity management, with a very obvious regulatory capital arbitrage motivation on the part of joint-stock banks. It can be seen that the motivations for different banks to participate in the securitization of credit assets are quite different. Therefore, it is suggested that the relevant departments should introduce more targeted policies, thus improving the relevant regulatory mechanism, meanwhile investors can seize more targeted investment opportunities from this aspect.