Research On The Legal Institution Of Special Purpose Trust

In the thirty years, the most remarkable innovation in the international financial market is the Financial Asset Securitization. It can magically change certain future cash flow, especially receivables in the aspect of accounting into tangible and present cashes, which is the utmost purpose of capital profit orientation, namely, the more frequently the capitals are utilized, the more profit it might bring.In the structure of securitization, Special Purpose Vehicle is the core factor. In the international capital market, especially in the capital markets under the jurisdiction of Common Law countries, trust is one of the most significant methods of SPV. Accounting to the lack of capital in our country development, it is very important to study securitization, especially SPV in order to utilize this structure finance instrument in China. As an intermediary between the sponsors and investors is the core structure of securitization transactions, Choose model which form of SPV is the key about how to choose the model of asset securitization. As to the system functions , a trust is a organization which is long-term planning and which has flexible space that is able to fully protect the beneficiary institutions and so it is popular in practice of the securitization of assets in many countries. This model must be able to demonstrate the essence of the core asset securitization, risk-isolation mechanisms and the role of law is to make risk-isolation mechanism institutionalized and standardized.The thesis mainly discusses the following questions in the methods of comparative study:The first part of it summarizes the basic legal problems about Equity Financial Asset Securitization and makes a definition to Equity Financial...