Legal Study Of Asset Securitization

Asset securitization is the most significant financial innovation for the 30 years. Not only it has had the huge influence on the correlation country stock market, but also has positive and profound influence on its national economy development. With the development of finance reform in our country , asset securitization solving the problem about the bad property of commercial bank will be one of the most important topics. Because finance innovation is started late in our country and it has a limited view of the asset asset securitization, Therefore, understanding the operation mechanism of the asset securitization systematically is very important in China's development.At the beginning of 2005, the State Council agreed develops the credit property securitization experiment site in our country Banking industry. In April of 2005, the People's Bank and the silver issued jointly "Credit Asset Securitization Experiment site Policing method", had determined developed the credit asset securitization experiment site in the basic legal frame of our country. This symbolized our country rises to the asset securitization to the legal altitude. After all, the development of asset securitization in our country still has very many difficulties, the correlation legal laws and regulations are extremely imperfect and this has restricted the development of asset securitization in our country. Therefore, this article mainly embarks from the legal angle, inspected different countrie's laws , in particular US, Japan about the asset securitization legislation situation, uses the comparison method, the history analysis method and the real diagnosis method on the asset securitization meaning, the characteristic, the operation mechanism, the property is far away bankrupt the essential factor, the SPV legal organization form and the question, as well as how constructed our country's asset securitization law frame and so on to carry on the discussion, and proposed related question s and the suggestions of my own.The article is divided into three parts : the first part is the basic problems of asset securitization. The contents is the different scientific theory definition and the legal definition of asset securitization; extensive features and the difference between transfers shares of stock and the debt ; the legal mechanism and the legal nature; finally introduced the abroad legislation profile and domestic legislation evolution of asset securitization .The second part is the legal theory of assets bankruptcy isolation This part discussed the meaning of assets bankruptcy isolation and the relationship between asset true sale and asset securitization and had a thorough discussion of the legal issues about asset true sale and SPV .The third part is the difficulty and the innovation point, mainly discussed the relevant legal assumpions about asset securitization in our country and proposed my own suggestions. Firstly, discussed the system limit of the asset securitization .this includes the legal laws and regulations condition barrier; then discussed the choice of and the standard of asset securitization in our country. Mainly about the legislation pattern. Finally, the article comed up with some preliminary suggestions about the legislation system and the content of asset securitization in our country.