The Sub-prime Legal And Regulatory Issues Of Asset Securitization Crisis Perspective Study

Asset-based Securitization, as an important financial innovation, originated in the seventies of the twentieth century, it played an important role in solving the flow of bank credit assets, improving the bank's capital utilization, reducing the risk of banks to maintain the stability of the banking system and promoting the property market actively. However, the Sub-prime crisis occurred in 2007 because of insufficient understanding of its risks, as well as lack of supervision. Therefore, it is necessary and urgent to improve the legal supervision of Asset-based Securitization.This paper studies on some legal questions of key important in the legal supervision of Asset-based Securitization. It is about thirty-three thousand words and divided into five chapters.Chapter one focuses on the basic introduction to Asset-based Securitization. In this chapter, the writer introduces the definition about the Asset-based Securitization both in theory and law. Then the writer points out the legal characteristics and risks of ABS and the process in practice.Chapter two focuses on the legal supervision of Asset-based Securitization. The writer points out the object of study in this paper. Through the introduction of the relevant doctrine at home and abroad, the writer analyses the necessity , theoretical basis and the system of the legal supervision of Asset-based Securitization.Chapter three is the study of U.S. legal supervision of Asset-based Securitization and Sub-prime crisis. Firstly, the writer introduces the emergence and development of U.S. legal supervision of Asset-based Securitization. Then, the writer illustrates the reasons of the emergence about Sub-prime crisis, and analyses U.S. legal supervision of Asset-based Securitization in this perspective.Chapter four is the study of financial supervision cycle. This chapter is the key part of the paper. In this chapter, through into the history of financial supervision, the writer points out the nature of financial supervision cycle, and then analyses its causes to explain in theory.Chapter five explains the reasoning of how to complete China's legal supervision of Asset-based Securitization. The writer introduces current situation of China's legal supervision of Asset-based Securitization. Upon the investigation and research of the legal questions which discussed in the chapter three and four, this paper gives some resolutions or legal proposals to improve China's legal supervision of Asset-based Securitization.