Asset Securitization: Current Techniques and Emerging MarketApplications 79 (John Henderson ed., 1997).
日本属于金融发达国家,这里将其列入证券化新兴市场,是因为日本证券化市场的大发展,与韩国等亚洲国家一样,是在受到亚洲金融危机冲击的大背景之下迎来的。
See Yuliya A.Dvorak, Transplanting Asset Securitization: Is the Grass Green Enough on the Other Side?38 Hous. L. Rev. 541 (Summer, 2001).
参见何小锋、刘永强,资产证券化理论及其在中国实践¾¾对中国一个早期案例的研究,学术研究,2期,1999年2月,23-28页。
对该案例的介绍参见李曜,资产证券化:基本理论与案例分析,上海财经大学出版社,2001年,192-209页。
参见阙紫康,中国金融结构调整问题研究,深证综研字第0076号, 2003年8月7日,33页以下。
中国人民银行副行长吴晓灵表示资产证券化可在一定前提下推出,经济日报,五版,2004年7月16日。
1950年9月,该公司与FHA一起并入住宅与城市发展部(Department of Housingand Urban Development, HUD)。
Feeney, supra note 6, at 95.
汪利娜,美国住宅金融体制研究,中国金融出版社,1999年,278-279页。
1968年9月30日,范尼梅发行2.5亿美元次级资本债券(subordinated capitaldebenture),用以赎回美国财政部持有的1.6亿美元优先股和5000多万美元的资本股,从而使普通股持有人成为公司的真正所有者。参见汪利娜,注20书,279页。
Feeney, supra note 6, at 99.
Lewis S. Ranieri, the Origins ofSecuritizaiton, Sources of Its Growth, and Its Future Potential, supra note9, at 33.
Id., at 35-36.
弗兰克.J.法博齐、弗朗哥·莫迪利亚尼着,唐旭等译,资本市场:机构与工具,经济科学出版社,二版,584-586页。
James A.Rosenthal & Juan M. Ocampo, Securitization of Credit: Inside the NewTechnology of Finance 51 (1988).
随着证券化基础资产的扩展,1997年又出现了另一种证券化免税载体,即金融资产证券化投资信托(Financial Asset Securitization Investment Trusts, FASITs),与REMICs相比,FASITs将适格基础资产扩大为金融资产。See Steven L.Schwarcz, Structured Finance: A Guide to the Principles of Asset Securitization5-2, 3 (3rd ed., 2002).
Michael Jungman, the Contributions ofthe Resolution Trust Corporation to the Securitization Process,supranote 9, at 7.该文是本题的主要参考文献。
参见福布斯,2003年9月,41页。
参见范尼梅与弗雷迪马克的官方网站:http://www.fanniemae.com; http://www.freddiemac.com
European SecuritisationIssuance Totals Record €157.7 billion in 2002, http://www.europeansecuritisation.com,Dec. 2003.
JohnDeacon, Securitisation: Principles, Markets andTerms 100 (2nd ed., 2000).
Feeney, supra note 6, at 125.
Fidelis Oditah, Great Britain, in Asset-backedSecuritization in Europe 111 (Theodor Baums & Eddy Wymeersch ed., 1996).
Id., at 100.
Id., at 122.
See FSA, Financial Risk Outlook 2003,http://www.fsa.gov.uk (Jan. 20, 2003)
GideLoyrette Nouel(法国基德律师事务所), Modernizing and Securing the FrenchSecuritization Market 2 (Jun. 2003), http://www.gide.com
Alain Couret, France, supra note 34, at 71.
Xavier de Kergommeaux, A Look at Mortgage-backedSecuritization in France, in Guide to The World’s Leading SecuritizationLawyers, International Financial Law Review, 1999.
Mathilde Franscini & Tamara Schillinger,Mortgage Bond and MBS Market Development in the UK and France, in Securitization Conduit (2001).
Marcia Myerberg, The Use of Securitization by Investors andIssuers in International Markets, supra note 9, at 150.
GideLoyrette Nouel, supra note 38, at 2.
Gilles Saint Marc, French Securitization Law and Practice, inInternational Asset Securitization and Other Financing Tools 134 (DennisCampbell ed., 2000).
Franscini& Schillinger, supra note 41.
Gilles Saint Marc, French SecuritizationLaw and Practice, supra note 44,at 135. (Dennis Campbelled.)
Alain Couret, France, supra note 34, at 79.
本项对意大利《证券化法》的介绍,主要依据标准普尔的报告:Legal Issues in Italian Asset-Backed Securitizations, http://www.standardandpoors.com (Sep. 20, 2003).
See Hideki Kanda, Securitization in Japan, 8 Duke J. Comp. & Int’l L. 360 (Spring, 1998).
Id., at 375-378.
Id., at 360-361.
参见王志诚,日本金融资产证券化制法制架构与启发,中正大学法学集刊,5期,2001年9月,222页。
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