Legal Issues Of Asset Securitization Research

Asset securitization is one of the most creative vitality in the 30 years since the 20th century's, it is a structured finance activity ,to achieve the direct of indirect financing, and this new credit model is changing the world financial structure and credit allocation patterns. While securitization is a financial process, but which is accompanied by a series of legal process, and asset securitization was able to proceed smoothly, more importantly, there is strong support for the law, therefore the study of asset securitization Legal issues of asset securitization has a smooth and orderly development of paramount importance. In this paper, a comparison of methods and theory with practical research methods on the Asset Securitization in-depth analysis of legal issues, research with the aim of our asset securitization and Construct a viable legal system, the promotion of asset securitization in China development.The first part is the overview of asset securitization. Including the concept of asset securitization, asset securitization characteristics,operation type and process described, for the concept of asset securitization, the author pointed out that some scholars define the concept of asset securitization defects, put forward his point of view, while , with the reality suggests that we should operate in accordance with the asset securitization process to its definition, to facilitate asset securitization in the promotion and development of our country. For the characteristics of asset securitization, the author credit,liquidity and risk diversification in three contexts of asset securitization innovations, put forward his point of view. For the type of asset securitization, the author combined assets based on the concept of asset securitization are classified.The second part is the USA, Japan and Taiwan's Asset Securitization, introducing and reviewed the legal system. For U.S. asset securitization, this paper describes the United States distributed asset securitization legislation, and describes t he principal involved in asset securitization law, the legal system of Japan's asset securitization, the paper describes Japan as a unified Asset Securitization oriented, while some specific asset securitization special legislative session to be added, for Taiwan's securitization law, the paper introduces the uniform legislation in Taiwan. This part of the law is not a simple list, but the legal system of asset securitization of the main features, but also on the asset backed securitization to be the comments for the benefit for China.The third part is the process of securitization of the major legal issues. In the process of asset securitization, SPV for the establishment and the transfer of assets is central to the two links is the most legal problems, and therefore the main target of this part of the legal aspects of these two areas were analyzed and study. Legal issues for the SPV, this article from the SPV in the asset securitization process role, SPV should have the legal attributes, SPV can take several aspects of the legal form to start the analysis. Legal issues for the transfer of assets, the purpose of this article from the transfer of assets and legal essence of the transfer of assets could take several aspects of the legal form to start the analysis. Since this is the perspective of bank credit assets, so in essence, claims the transfer of assets transfer, in this part of the claims in view of the importance of the transfer, this article will discuss them separately.The fourth part of our asset securitization law issues, this part is the focus and innovation, the three parts of the content is compared to the reference on the basis of asset securitization in China put forward specific system design. This paper argues that asset securitization in China should learn from Taiwan's experience, unified system of asset securitization legislation, to promote the development of asset securitization, while the system in a specific building, the SPV and the assets on this article transfer to a specific system design, hopes to address the process of asset securitization in a number of legal obstacles.