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FAIR VALUE OF ASSETS AND LIABILITIES (Tables) | 12 Months Ended
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Dec. 31, 2016
FAIR VALUE OF ASSETS AND LIABILITIES |
Schedule of fair value hierarchy for assets and liabilities measured at fair value on a recurring basis subsequent to initial recognition |
December 31, 2015 |  | Level 1 Inputs |  | Level 2 Inputs |  | Level 3 Inputs |  | Balance at Fair Value |
|  | RMB |  | RMB |  | RMB |  | RMB |
Assets |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | 846,120 |  | — |  | — |  | 846,120 |
Loans at fair value |  | — |  | — |  | 221,268 |  | 221,268 |
Total Assets |  | 846,120 |  | — |  | 221,268 |  | 1,067,388 |
Liabilities |  |  |  |  |  |  |  |  |
Payable to investors at fair value |  | — |  | — |  | 252,907 |  | 252,907 |
Total Liabilities |  | — |  | — |  | 252,907 |  | 252,907 |
December 31, 2016 |  | Level 1 Inputs |  | Level 2 Inputs |  | Level 3 Inputs |  | Balance at Fair Value |
|  | RMB |  | RMB |  | RMB |  | RMB |
Assets |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | 968,225 |  | — |  | — |  | 968,225 |
Loans at fair value |  | — |  | — |  | 371,033 |  | 371,033 |
Available-for-sale investments |  | — |  | 1,158,000 |  | — |  | 1,158,000 |
Total Assets |  | 968,225 |  | 1,158,000 |  | 371,033 |  | 2,497,258 |
Liabilities |  |  |  |  |  |  |  |  |
Payable to investors at fair value |  | — |  | — |  | 418,686 |  | 418,686 |
Total Liabilities |  | — |  | — |  | 418,686 |  | 418,686 |
Summary of significant unobservable inputs |
|  |  |  | December 31, 2015 |  | December 31, 2016 |
|  |  |  | Range of Inputs |  | Range of Inputs |
Financial Instrument |  | Unobservable Input |  | Weighted- Average |  | Weighted- Average |
Loans and payable to investors |  | Discount rates |  | 12.0 | % | 12.0 | %
|  | Net cumulative expected loss rates (1) |  | 7.9 | % | 7.6% - 7.9 | %
|  | Cumulative prepayment rates (2) |  | 7.4 | % | 13.2 | %
| (1) |  | Expressed as a percentage of the loan volume.
| (2) |  | Expressed as a percentage of remaining principal of loans.
Schedule of additional information about Level 3 loans, payable to investors measured at fair value on a recurring basis |
|  | Loans |  | Payable to investors |
|  | RMB |  | RMB |
Balance at December 31, 2014 |  | — |  | — |
Purchases of loans |  | 247,434 |  | — |
Initial contribution |  | — |  | 250,000 |
Collection of principal |  | (10,425 | ) | — |
Interest and penalties received |  | — |  | 4,516 |
Deductibles expenses associated with the Consolidated ABFE operating |  | — |  | (714 | )
Change in fair value |  | (15,741 | ) | (895 | )
Balance at December 31, 2015 |  | 221,268 |  | 252,907 |
Purchases of loans |  | 299,956 |  | — |
Initial contribution |  | — |  | 270,000 |
Collection of principal |  | (135,172 | ) | — |
Interest and penalties received |  | — |  | 30,342 |
Deductibles expenses associated with the Consolidated ABFE operating |  | — |  | (5,518 | )
Principal and interest payments to the Fund No.1 |  | — |  | (263,054 | )
Issuances of Asset Backed Special Plan |  | — |  | 202,500 |
Principal and interest payments to Asset Backed Special Plan investors |  | — |  | (69,695 | )
Change in fair value |  | (15,019 | ) | 1,204 |
Balance at December 31, 2016 |  | 371,033 |  | 418,686 |

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- Definition Tabular disclosure of the inputs and valuation techniques used to measure fair value, and a discussion of changes in valuation techniques and related inputs, if any, applied during the period to each separate class of assets, liabilities, and financial instruments classified in shareholders' equity that are measured on a recurring and/or nonrecurring basis. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19279-110258 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258 + Details
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