金融市場(chǎng)china課件

信用風(fēng)險(xiǎn)與中國(guó)抵押制度

——信達(dá)資產(chǎn)管理公司的視角和經(jīng)驗(yàn)

CreditRiskandMortgageSysteminChina

TheViewandExperienceofCindaAssetManagementCorporation2008年6月June,2008目錄

Contents一、金融資產(chǎn)管理公司與信用風(fēng)險(xiǎn)1.Assetmanagementcorporationandcreditrisk二、中國(guó)抵押制度的基本知識(shí)2.BasicABCofChinamortgagesystem三、抵押擔(dān)保制度優(yōu)劣的評(píng)判標(biāo)3.Standardsofmortgageguaranteesystem四、中國(guó)抵押制度的評(píng)判：現(xiàn)狀和問(wèn)題4.CommentofChinamortgagesystem:currentstatusandproblems五、中國(guó)抵押擔(dān)保制度下AMC的策略5.StrategiesofAMCunderChinamortgageguaranteesystem一、金融資產(chǎn)管理公司與信用風(fēng)險(xiǎn)

Assetmanagementcorporationandcreditrisk（一）信達(dá)金融資產(chǎn)管理公司概況

I.

IntroductionofCindaAssetManagementCorporation1、組建背景：Establishment

background2、基本情況：Generalintroduction3、業(yè)務(wù)運(yùn)作模式：Operatingpatterns（1）收購(gòu)Acquisition（2）管理Management（3）處置Disposal

一、金融資產(chǎn)管理公司與信用風(fēng)險(xiǎn)（續(xù)）

Assetmanagementcorporationandcreditrisk(Cont’d)（二）信用風(fēng)險(xiǎn)Creditrisk1、信用風(fēng)險(xiǎn)的認(rèn)識(shí)Understandcreditrisk（1）風(fēng)險(xiǎn)承繼riskinheritance（2）二次風(fēng)險(xiǎn)防范Thesecondriskprevention2、風(fēng)險(xiǎn)防范與抵押品的管理

Riskpreventionandmanagementofthemortgagedproperties（1）不良債權(quán)類型及維護(hù)

categoriesofnon-performedloansanditsmaintenance（2）抵押債權(quán)維護(hù)

Maintenanceofmortgage-backedloans（3）抵押物管理、處置

Themanagementanddisposalofthemortgagedproperties

二、中國(guó)抵押制度的基本知識(shí)

BasicABCofChinamortgagesystem（一）基本法律框架Basicframeworkofthelawsandregulations1、《擔(dān)保法》GuarantyLawofthePeople'sRepublicofChina2、《物權(quán)法》PropertyRightsLawofthePeople'sRepublicofChina3、其它法律、法規(guī)、規(guī)章及相關(guān)的司法解釋：例如《海商法》等

Otherlaws,rules,regulationsandjudicialinterpretations,e.g.MaritimeCodeofPRC,etc.4、法律沖突的化解

Conciliationoftheconflictsoflaws

二、中國(guó)抵押制度的基本知識(shí)（續(xù)）

BasicABCofChinamortgagesystem(Cont’d)

（二）抵押擔(dān)保類型Categoriesofmortgageguarantee1、不動(dòng)產(chǎn)抵押

mortgagedrealestate2、動(dòng)產(chǎn)抵押

mortgagedmovable3、非典型抵押擔(dān)保方式：

thecategoriesofnon-typicalmortgageguarantee（1）方式例舉：examples（2）司法態(tài)度：judicialattitude

四、中國(guó)抵押制度的評(píng)判：現(xiàn)狀和問(wèn)題

（續(xù)一）

CommentofChinamortgagesystem:currentstatusandproblems(Cont’d)（二）優(yōu)先權(quán)規(guī)則Therulesofpriorityright1、法定優(yōu)先權(quán)優(yōu)于擔(dān)保物權(quán)；

statutorypriorityrightsuperiortosecurityinterestinproperty2、法定擔(dān)保物權(quán)優(yōu)于約定擔(dān)保物權(quán)

statutorysecurityinterestinpropertysuperiortocontractedsecurityinterestinproperty

3、已登記的擔(dān)保物權(quán)優(yōu)于未登記的擔(dān)保物權(quán)。Registeredsecurityinterestinpropertysuperiortounregisteredsecurityinterestinproperty問(wèn)題：Problem法定優(yōu)先權(quán)常無(wú)公示，其優(yōu)先性常被濫用，損害了交易安全。例如：建筑工程款的優(yōu)先權(quán)等。

Commonly,thereisnopublicityonstatutorypriority,sothepriorityrightisoftenmisusedwhichisharmfultothesecurityofthetrade.E.g.thepriorityrightofthepaymentofconstructionprojects,etc.四、中國(guó)抵押制度的評(píng)判：現(xiàn)狀和問(wèn)題

（續(xù)二）

CommentofChinamortgagesystem:currentstatusandproblems(Cont’d)（三）權(quán)利登記規(guī)則：Regulationsofregistration1、抵押物不同，登記機(jī)關(guān)不同（附表）；

theregisterauthoritydiffersbydifferentmortgagedproperty.(Attachedexhibit)2、登記信息的實(shí)質(zhì)審查。

Checkandverifyoftheregistrationinformation.問(wèn)題：Problem:登記機(jī)關(guān)不統(tǒng)一，登記時(shí)間長(zhǎng)、效率低，登記信息不共享等。

Notunifiedregistrationauthority;lowefficiencyinregistration,asymmetricregistrationinformation抵押、質(zhì)押物類型Pledge,impawn登記部門(mén)Registerauthority抵押、質(zhì)押物類型Pledge,impawn登記部門(mén)Registerauthority土地使用權(quán)Usepropertyoftheland國(guó)土資源管理局MunicipalBureauofStateLandandResources漁業(yè)船舶Shipsforfishing漁政漁港監(jiān)督管理局AdministrationofFisheryAdministrative城市房地產(chǎn)、鄉(xiāng)（鎮(zhèn)）企業(yè)廠房Plantofcityrealestate,townshipenterprises房產(chǎn)管理局RealEstateAdministrationBureau民用航空器Civilaircraft民用航管理部門(mén)MinistrationofCivilAviation企業(yè)設(shè)備、原輔材料、產(chǎn)品或商品等Equipment,rawmaterial,productsandmerchants工商行政管理部門(mén)AdministrationforIndustryandCommerce非企業(yè)所有機(jī)械設(shè)備、牲畜等生產(chǎn)資料；農(nóng)村私有房產(chǎn)、家具、家用電器、金銀珠寶及其制品等生活資料Productionmaterial(equipmentandmachinerynotownedbyenterprises,animals);Lifematerial(Privatehouses,furniture,homeappliance,jewelry)公證處NotaryOffices非農(nóng)用機(jī)動(dòng)車Vehiclesnotforagriculture車輛管理局AdministrationBureauofVehicles上市公司的股份股票Stocksharesofpubliccompany中央證券登記結(jié)算公司CentralSecurityRegistrationandSettlementCompany農(nóng)用機(jī)器設(shè)備Machineryandequipmentforagriculture農(nóng)機(jī)站AgriculturalMachineryStation專利權(quán)、著作權(quán)、商標(biāo)使用權(quán)Patentrights,copyrights,trademarkrights知識(shí)產(chǎn)權(quán)局、工商行政管理局BureauofPropertyRight;BureauofAdministrationforIndustryandCommerce農(nóng)作物和其他農(nóng)業(yè)收獲物Cropsandotherharvests農(nóng)業(yè)局BureauofAgriculture出口退稅款賬戶托管Trustaccountsforexporttaxrefund國(guó)稅局StateAdministrationofTaxation果園、樹(shù)林Orchard,wood林業(yè)局ForestryAdministration公路橋梁、公路隧道、公路渡口、高速公路收費(fèi)權(quán)Highwaybridges;highwaytunnels;highwayferry,highwaytollright交通局BureauofCommunications船舶（海商法上所調(diào)整的船舶）Watercraft(AdjustedwatercraftinMaritimeCodeofPRC)海事局BureauofMaritimeAffairs高等院校學(xué)費(fèi)和住宿費(fèi)Tuitionandaccommodationfeeofcollegesanduniversities教育局BureauofEducation應(yīng)收賬款A(yù)ccountsreceivable中國(guó)人民銀行征信中心CreditInvestigationCenterofthePeople’sBankofChina四、中國(guó)抵押制度的評(píng)判：現(xiàn)狀和問(wèn)題（續(xù)三）

CommentofChinamortgagesystem:currentstatusandproblems(Cont’d)（四）擔(dān)保實(shí)現(xiàn)規(guī)則

Regulationsofimplementationofguarantee1、法庭外實(shí)現(xiàn)擔(dān)保物權(quán)空間狹隘；

Lowpossibilitiestoimplementsecurityinterestoutsidethecourt2、法庭內(nèi)實(shí)現(xiàn)擔(dān)保物權(quán)成本高昂；

Highcosttoimplementsecurityinterestinsidethecourt3、法庭內(nèi)實(shí)現(xiàn)擔(dān)保物權(quán)效率低。

Lowefficiencytoimplementsecurityinterestinsidethecourt問(wèn)題：Problems擔(dān)保物權(quán)的實(shí)現(xiàn)制度需要改革。

Theimplementationsystemofsecurityinterestneedsreforming.

五、中國(guó)抵押擔(dān)保制度下AMC的策略

StrategiesofAMCunderChinamortgageguaranteesystem（一）抵押物的管理

Managementofthemortgagedproperty1、債權(quán)的訴訟時(shí)效維護(hù)：通知或公告

periodoflimitationforfilingasuit

forclaim:informorbulletin2、抵押物的定期檢查：資產(chǎn)狀況Periodicallycheckonmortgagedproperty:statusofassets3、抵押物的毀損滅失后的追及

Dealingwithproblemsafterthedamageorlossofthemortgagedproperty五、中國(guó)抵押擔(dān)保制度下AMC的策略