【作者】 吴素楠；

【导师】 徐卫；

【作者基本信息】 上海交通大学 ， 民商法学， 2015， 硕士

【摘要】 资产证券化作为一种结构化融资,按其特殊目的机构的不同,可以分为信托型、公司型和合伙型。信托型资产证券化是以信托作为其导管体,原始权益人作为委托人将其基础资产设定信托,转移给受托机构,使基础资产变为受益权,然后由受托机构将委托人所享有的受益权分割,向投资者发行资产支持证券作为受益权的对价,进而实现其结构化融资。特殊目的信托所具有的信托财产独立性可以实现资产证券化所需要的风险隔离,将特殊目的信托与委托人、受托人、投资人相分离。我国目前主要采用特殊目的信托这一模式,并有《中华人民共和国信托法》、《信贷资产证券化试点管理办法》等法律法规规制,但实践中对于在设立特殊目的信托进行资产转移仍有法律法规未明确规定的地方。因此,本文针对特殊目的信托设立过程中资产转移出现的问题,运用问题导向分析法,并结合比较分析法等多种研究方法,对资产信托转移过程中遇到的问题和障碍进行分析,同时为我国特殊目的信托设立过程中资产信托转移提出建议。更多还原

【Abstract】 As a financing structure,asset securitization can be divided into Special Purpose Trust,Special Purpose Company and Limited Partnership according to its special purpose vehicle(SPV).Trust is a catheter for asset securitization trust.The originators of the underlying assets as principals will set their assets as a trust,transfer to the trustee,so that become the beneficiary of the underlying asset,and then the trustee will segment the beneficiary of principals,issue asset backed securities to investors as the beneficiary of the price,so as to realize its structured financing.The desired risk isolation could be achieved by independence of trust property possessed by special purpose asset securitization.The special purpose trust will separate the clients,trustees,investors from each other.Currently,special purpose trust mode of asset securitization is adopted in China,and is regulated by the "People’s Republic of China Trust Law","credit asset securitization pilot management approach" But in practice,there are several areas that are not fully regulated and clearly defined when referring to the process of setting up a special purpose trust for transfer of assets.Therefore,this article analyzed these problems and obstacles arisen about the transfer of assets during the process of establishing special purpose trust by using problem oriented analysis method combined with a variety of comparative analysis and other research methods.Meanwhile,recommendations are provided for transfer of assets during the process of establishing special purpose in China.更多还原