票据资产证券化的法律风险与处理建议——以基础资产选择为分析对象

Legal Risks and Suggestions on Paper Assets Securitization： The Choice of Basic Assets for the Analysis of the Object

在对票据进行资产证券化处理情形下，票据因具有文义性、要式性、无因性等特殊法律属性，从而具有不同的法律规范要求。同传统的银行授信贴现相比，证券化虽有利于票据价值的最大化利用，但证券化基础资产的结构设计事涉法律风险，对于目前存在以票据本身、票据基础交易关系债权、票据收益权为基础资产的三种法律构造，分析证明，以票据收益权为基础资产的制度构建有利于压缩合规成本、防范潜在风险。

In the course of the securitization of financial securitization, the paper has become an important object of securitization because of its special legal attributes such as meaning, style and no reason. In contrast to traditional bank credit discounts, securitization is also more conducive to maximizing the value of bills. In addition to its good asset attributes, the asset securitization business has a significant impact on supporting the real economy, especially the development of small and medium-sized enterprises and the management of commercial banks. However, the structural design of the basic assets of securitization is related to the legal risk, and there are three kinds of legal structures based on the bill itself, the basic transaction relationship creditor＇s right and the bill income right. The analysis shows that the capital gains System construction is conducive to compression compliance costs, to prevent potential risks.