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随着社会的不断发展,资产证券化市场也不断地完善机制,特别是风险隔离机制。风险隔离机制主要通过对发起人进行隔离管控,担保破产风险,从而对出资人的资产偿付加以保障。当然,由于资产证券化市场的不断发展和完善,实际的资产风险可能会超出预期的资产风险,从而会产生一系列的风险问题,诸如:资产所有权问题和出资者承担的破产风险等等,会在一定程度上降低整个风险隔离机制的运行效果。本文笔者通过两大方面阐述资产证券化中风险隔离机制,从这种风险机制所面临的挑战到当前这种机制需要进行的法律完善,都分别做了详细的分析和论述。
With the continuous development of society, asset securitization market also constantly improve the mechanism, especially the risk isolation mechanism. The mechanism of risk isolation mainly protects the investor’s assets through the segregation of promoters and the risk of bankruptcy. Of course, due to the continuous development and improvement of the asset securitization market, the actual asset risk may exceed the expected asset risk, resulting in a series of risk issues such as asset ownership issues and the bankruptcy risk borne by the sponsors. To a certain extent, reduce the operation of the entire risk isolation mechanism. In this paper, the author elaborates the risk isolation mechanism in asset securitization through two major aspects. From the challenges faced by this risk mechanism to the legal perfection required by the current mechanism, it analyzes and discusses in detail.