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A Study On Legal Issues Of Asset Securitization In International Finance

Posted on:2005-04-02Degree:MasterType:Thesis
Country:ChinaCandidate:X J ZhangFull Text:PDF
GTID:2156360122996657Subject:International Law
Abstract/Summary:PDF Full Text Request
Asset Securitization is one of the most essential financial tools for financial innovation in the international financial fields.Since come out from U.S.A in 1970s,it developed very fast The mortgage-backed securities market becomes the second market in U.S.A. In Europe and Assia, asset securitization is used widely The bankruptcy remoteness mechanism distinguishes it from other financing instruments. Asset transfer and the establishment of SPV are the two main Pillars of the bankruptcy remoteness mechanism .Securitization enhances the status of pledgee under the security system, provides for economic actors and capital market the efficiency which cannot be achieved by the then system..With respect to the current law of China, there are still lots of loopholes and ambiguities in terms of pledge of creditor's right. We need to transplant securitization into China to insulate the secured interests of pledgee from the potential bankruptcy.This thesis, based on the research of the asset securitization practice in the U.S.A and the U .K, France and Japan, abstracts the common legal rationale of asset securitization and offers a comparison of this with the existing legal environment in China, The author holds that operation of asset securitization should be regulated and promoted by drafting a special law and taking related measures Contrasts the differences to foreign country law and bring up legislation's suggestion.The application of cross-border securitizationurely will bring along significant implications for the full transplantation ofeuritization in China.
Keywords/Search Tags:Asset Securitization, Special Purpose Vehicle(SPV), Bankruptcy Remoteness, Cross-border Securitization
PDF Full Text Request
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