资产证券化的法律分析

Analysis on Law of Asset Securitization

作为一项复杂的金融创新,资产证券化的正常运行需要一定的市场环境和制度基础的支持。原有的法律规范已难以保证其有效运作,针对证券化过程中的资产转让、SPV的设立、风险隔离、信用增级等一系列问题,急需法律作出新的界定。

As a complicated financial innovation, asset securitization can be justly carried out with the support of some market environment and system basis. It's hard for the original legislative criteria to guarantee an effective running of asset secruitization. New legislative rules are called for to deal with a series of problems arising from the process of the se- curitization, such as the asset transfer, establishment of SPV. risk isolation and credit upgrade.