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FAIR VALUE OF ASSETS AND LIABILITIES (Tables)

12 Months Ended

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

X

- 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

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X

- 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

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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

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