Construction Of A Regulatory System For The Securitization Of Non-performing Assets

Chinese non-performing assets securitization pilot for financial crisis in 2008, the recent, restart the non-performing assets securitization pilot calls up gradually, from the party central committee to the securities and futures commission has made the comment. A few big Banks non-performing assets securitization project has obtained approval, will soon enter the trade. Non-performing assets securitization is produced in the United States in the 1970 s is a high-risk and complex financial instruments, the United States through the practice of long-term development, on the deal structure, legal system has accumulated rich experience. However, from the current situation in our country, the regulation of non-performing assets securitization for only two files, one is the SFC issued, one is the China banking regulatory commission issued, low effectiveness level. But also in terms of the two files, there is a lot of conflict, it also reflects the conflict between regulators internal state. So, under the background of bad restart securitization pilot, the establishment of the legal system and supervision system of complement is imminent. Efforts is not discussed in this paper, what kind of legal supervision system should be established, but to their roots, from the Angle of the allocation of rights and obligations, from the dimension of system building conflict of multi purpose, discuss possible system into the road. The article is divided into five chapters. The beginning of the introduction part is mainly about the research background, research significance and research status. Chapter five elaborates step by step behind why what regulation, regulation, as well as regulatory approach.First chapter is the core concept of non-performing assets securitization, the article has carried on the points of various interpretation from the direct interpretation, in turn, the character is narrowed to the concept of a confused concept connotation epitaxial smaller.The second chapter in the practice of non-performing assets securitization in our country an example as the center, the trade structure is analyzed in the core of legal structure. For the third chapter discusses.Third chapter further analysis the second case, the legal relationship of the distribution of the rights and obligations of the parties in the main body status and balance of power, so as to find why regulation and supervision of what reason.The fourth chapter discusses the development of non-performing assets securitization at home and abroad and the legal regulation. To provide some useful inspiration and reference on regulatory system construction.The fifth chapter is in the building of a conflict of multi-objective system perspective to investigate the possible regulatory approach.