Research On Legal Problems Of Bank's Non-performing Assets Securitization

Asset securitization is one of the most important financial derivative from 1970's, which sprang up American market of housing mortgages, and developed successfully executed to the world, The securitization of assets is transferring the assets which is scarce of liquidity, held by financial institution or other enterprises to the financial product that can be sold circulated on the financial market through certain arrange of structure, recombination of risk and benefit, and taking primitive assets as guarantee. For its intricate structure and distinctive function, it was adopted by many countries and applied to disposing non-performing loans broadly. In our country, with the deepening of reform and opening-up, various kinds of problems of the commercial banks faced are further exposed. Because of historical and systematic reasons, the self-owned capital of the bank is insufficient and the liquidity of the assets is poor, and especially the number of non-performing assets of the banks is enormous, which caused the risk to be highly centralized. All these factors mentioned above have seriously hindered the commercial bank's reform and development. So, we must accelerate disposing of the non-performing loans. We should use the international experiences for reference, based on the situations of china, introduce new instrument and pursue financial creations, by which we can explore a way of disposing non-performing loans applicable to Chinese situations.Pursuing of securitization of the non-performing assets of commercial banks involves a series of legal problems. This dissertation focuses on the legal problems concerning non-performing loans securitization. It begins with the basic theory of asset securitization, and according to Chinese situations and investigate the feasibility of non-performing loans securitization in china. Then, this article inquires the successful experiences of the non-performing loans securitization abroad and the enlightenment to our country. And then discussed to the construction of the legal frame of the securitization of the non-performing assets of commercial banks from some aspects as following: the sureness of assets needed to be securitized, the legal orientation of the Special Purpose Vehicle (SPV), legal guarantee of transformation of securitized non-performing assets, legal environment of credit enhancement and credit positioning of securitization of the non-performing assets. Finally, the dissertation prospects the Chinese non-performing loans securitization legislative model and aims to put forward to suggestions to the necessity for the securitization special legislation to our country.