Research On Legal Issues About Cross-border Securitization

Securitization is a financing activity which, through a series of transactions whose core is the risk remoteness, relies on the assets that can produce a steady flow of cash and bases on the certainty of the assets'future risk. Certainty of the future risk benefits the investors, financiers and even the whole financial system. The characteristics of securitization make it very suitable for cross-boader transaction and cross-boarder securitization will bring many benefits for the participants. Under the context of financial liberalization and globalization, cross-boarder securitization is thriving as the impetus of the parties. The complexity of their transactions and the demand of innovation for the profits decide that the norms in this field are developed by lawyers through standardized contracts form. Because the law made by government can not meet the requirements on the standardization and flexibility of the transaction. There are a great potential in Chinese cross-boarder securitization as well as some legal obstacles.This article is divided into five chapters except the introduction and the conclusion. Chapter I provides a definition of securitization and analyses its nature. Chapter II introduces the legal relationship in the process of securitization. Chapter III analyses the causes of cross-border securitization from both economical and legal elements. Chapter IV discuss the legal norms of cross-border securitization and the background which cross-border securitization law bases on and the characteristics of the cross-border securitization law and its influence to the international financial law. Chapter V analyses the necessity and related legal issues of Chinese cross-border securitization, based on its particularity.This article studies the securitization which is an important issue in the international financial law which is a branch of international economic law, the study followed the principle that contact theory with practice, gave attention to both economy and law ,and combined domestic and international perspective.