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Choice On Breakthrough Modes Of SPV From The Institution Restrictions In China

Posted on:2004-05-05Degree:MasterType:Thesis
Country:ChinaCandidate:S WangFull Text:PDF
GTID:2156360092993254Subject:Regional Economics
Abstract/Summary:PDF Full Text Request
Asset Securitization is one of the most important financial innovations in the international finance field in recent several decades. Its most core device is the mechanism of risk-remote, the Special Purpose Vehicle (SPV) is the core medium of Asset Securitization, through which Securitization realizes bankruptcy-remote. This thesis attempts to give a brief introduction to the operation process of Asset Securitization, and based the background information, to emphasize how the SPV isolates the bankrupt risk. To use the experience of other countries and districts for reference, I thorough analyze the possibility of establish the SPV under the China current law, tax and accounting circumstances, subsequently bring up the most viable native SPV modes, and try to find out the breakthrough of developing Asset Securitization in China.This thesis consists of seven parts:Part one: the structure and operation process of Asset Securitization. This section mainly introduces the rights and obligations of parties involving in Securitization, and the organization and natures of Securitization.Part two specially discusses how SPV develops the important function of the "fire wall", and then guarantees the safety of Securitization trade.Part three draws lessons from the different countries and districts with the Asset Securitization's fulfillment experience, and induces eight kinds of prepositional SPV modes.Part four, five, six respectively studies the Chinese law, tax and accounting institution term of establish SPV, and lays the foundation for the analysis of the next part.Part seven is the thesis's key point, brings up the principles, which must being followed while choices the SPV modes. According to these principles, the thesis comments and analyses the eight kinds propositional modes in the current system frame in China, ultimately finds out the breakthrough of establishing SPV in China.
Keywords/Search Tags:Institution Restrictions, SPV, Breakthrough Modes
PDF Full Text Request
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