A banks' asset securitization (BAS) model has been submitted in the paper and characterized as a multi-aspect innovation model intended for bank assets optimization. BAS's foreign models have been reviewed. Main features and characteristics of government and tax regulation have been reviewed, the key problems of Russian securitization market have been revealed. Further evolution perspectives of BAS in Russia have been estimated. A description of BAS schemes typical for Russian banks by the example of Alfa Bank has been analyzed. Moreover, the evaluation of securitized mortgage product of Mortgage agent AHML-2013-1 has been done in the paper.