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资产证券化 ,或称资产支撑证券 ,不仅以特定资产作为直接融资的信用保证 ,投资人只须对资产质量作出判断 ,即获得可靠投资预测 ;同时为了实现“资产”的保证性 ,还必须有赖法律制度的创新。由此可见 ,资产证券化法律制度架构突出体现了投资安全价值 ,代表了当代经济发展和经济竞争以人为本、可持续发展的人文理念。资产证券化安全价值的制度主要包括 :( 1)资产证券发起人破产隔离制度 ;( 2 )债权转移的独立性、无因性制度 ;( 3 )信用增级制度 ;( 4 )投资人享有信托法上的权利保护。
Asset securitization, or asset-backed securities, not only uses a specific asset as a credit guarantee for direct financing, but investors only need to make a judgment on the quality of the asset to obtain a reliable investment forecast. At the same time, in order to achieve the “asset” guarantee, it must also depend on Innovation of legal system. It can be seen from this that the institutional framework of asset securitization prominently reflects the value of investment security and represents the humanistic concept of economic development and economic competition that is people-oriented and sustainable. The system of security value of asset securitization mainly includes: (1) system of bankruptcy and isolation of promoters of assets and securities; (2) independence and non-factor system of credit transfer; (3) credit enhancement system; (4) Legal protection of the law.