资产支持证券信息披露规则 People's Bank of China Announcemen_法律英语

资产支持证券信息披露规则 People's Bank of China Announcemen

文章来源：文章作者：发布时间：2007-04-12 01:53 字体： [大中小]　进入论坛

(单词翻译:双击或拖选)

为规范资产支持证券信息披露行为，维护投资者合法权益，保证资产支持证券试点的顺利进行，促进银行间债券市场的健康发展，中国人民银行制定了《资产支持证券信息披露规则》，现予公布。本规则自公布之日起施行。

中国人民银行
二00五年六月十三日
资产支持证券信息披露规则

　　第一条　为规范资产支持证券信息披露行为，维护投资者合法权益，推动债券市场的发展，根据《信贷资产证券化试点管理办法》（中国人民银行公告（2005）第7号）等有关规定，制定本规则。

　　第二条　资产支持证券受托机构（以下简称受托机构）的信息披露应通过中国货币网、中国债券信息网以及中国人民银行规定的其他方式进行。

　　第三条　受托机构应保证信息披露真实、准确和完整，不得有虚假记载、误导性陈述和重大遗漏。

　　资产支持证券发起机构和接受受托机构委托为证券化提供服务的机构应按照信托合同和服务合同的约定，及时向受托机构提供有关信息报告，并保证所提供信息真实、准确和完整。

　　第四条　受托机构、为证券化提供服务的机构、全国银行间同业拆借中心（以下简称同业中心）、中央国债登记结算有限责任公司（以下简称中央结算公司）等相关知情人在信息披露前不得泄露拟披露的信息。

　　第五条　受托机构应在资产支持证券发行前的第五个工作日，向投资者披露发行说明书、评级报告、募集办法和承销团成员名单。

　　分期发行资产支持证券的，其第一期的信息披露按本条第一款的有关规定执行；自第二期起，受托机构只在每期资产支持证券发行前第五个工作日披露补充发行说明书。

　　第六条　受托机构应在发行说明书中说明资产支持证券的清偿顺序和投资风险，并在显著位置提示投资者：“投资者购买资产支持证券，应当认真阅读本文件及有关的信息披露文件，进行独立的投资判断。主管部门对本期证券发行的核准，并不表明对本期证券的投资价值作出了任何评价，也不表明对本期证券的投资风险作出了任何判断”。

　　第七条　受托机构应在每期资产支持证券发行结束的当日或次一工作日公布资产支持证券发行情况。

　　第八条　资产支持证券存续期内，受托机构应在每期资产支持证券本息兑付日的三个工作日前公布受托机构报告（编制要求附后），反映当期资产支持证券对应的资产池状况和各档次资产支持证券对应的本息兑付信息；每年4月30日前公布经注册会计师审计的上年度受托机构报告。

　　第九条　受托机构应与信用评级机构就资产支持证券跟踪评级的有关安排作出约定，并应于资产支持证券存续期内每年的7月31日前向投资者披露上年度的跟踪评级报告。

　　第十条　召开资产支持证券持有人大会，召集人应至少提前三十日公布资产支持证券持有人大会的召开时间、地点、会议形式、审议事项、议事程序和表决方式等事项，并于大会结束后十日内披露大会决议。

　　第十一条　在发生可能对资产支持证券投资价值有实质性影响的临时性重大事件时，受托机构应在事发后的三个工作日内向同业中心和中央结算公司提交信息披露材料，并向中国人民银行报告。

　　本条所称重大事件包括但不限于以下事项：

　　（一）发生或预期将发生受托机构不能按时兑付资产支持证券本息等影响投资者利益的事项；

　　（二）受托机构和证券化服务机构发生影响资产支持证券投资价值的违法、违规或违约事件；

　　（三）资产支持证券第三方担保人主体发生变更；

　　（四）资产支持证券的信用评级发生变化；

　　（五）信托合同规定应公告的其他事项；

　　（六）中国人民银行和中国银行业监督管理委员会等监管部门规定应公告的其他事项；

　　（七）法律、行政法规规定应公告的其他事项。

　　第十二条　同业中心和中央结算公司应在不迟于收到信息披露文件的次一工作日将有关文件予以公告。

　　第十三条　资产支持证券的信息披露除适用本规则外，还适用于《全国银行间债券市场债券交易管理办法》（中国人民银行令（2000）第2号）、《全国银行间债券市场金融债券发行管理办法》（中国人民银行令（2005）第1号）和《全国银行间债券市场债券交易流通审核规则》（中国人民银行公告（2004）第19号）等有关规定。

　　第十四条　本规则由中国人民银行负责解释。

　　第十五条　本规则自公布之日起施行。

People's Bank of China Announcement No. 14 [2005]

To regulate information disclosure of asset-backed securities, safeguard the legal rights of investors¹, ensure a smooth progress of the pilot asset-backed securities and promote the healthy development of the inter-bank bond market, the People's Bank of China formulates² and is hereby promulgating³ the Rules for the Information Disclosure of Asset-backed Securities. These Rules shall enter into effect on date of promulgation⁴.

The People's Bank of China
June 13, 2005

Rules for the Information Disclosure of Asset-backed Securities[Unofficial Translation]

　　Article 1 These Rules are formulated⁵ in accordance with the Administrative⁶ Rules for the Pilot Securitization of Credit Assets （People's Bank of China Announcement No. 7 [2005]） and other rules so as to regulate information disclosure of asset-backed securities, safeguard the legal rights of investors and promote the development of the bond market.

　　Article 2 Information disclosure of the entrusted⁷ institution of asset-backed securities （hereinafter referred to as the entrusted institution） shall be conducted via the websites of Chinamoney.com.cn, Chinabond.com.cn or other channels stipulated⁸ by the People's Bank of China.

　　Article 3 The entrusted institution shall ensure the truthfulness⁹, accuracy and completeness of disclosed information. There shall be no falsified description, misleading statements or major omissions¹⁰.

　　According to the stipulation¹¹ of trust contracts or service contracts, the initiating¹² institution and the service-providing institution designated by the entrusted institution shall provide related information reports to the entrusted institution and ensure the truthfulness, accuracy and completeness of the information provided.

　　Article 4 Information insiders such as the entrusted institution, the service-providing institution for securitization, the National Inter-bank Lending and Borrowing Center （hereinafter referred to as the NILBC）, the China Government Securities Depository Trust & Clearing Company Ltd （ hereinafter referred to as the China Clearing Company） are not allowed to reveal the information before disclosure.

　　Article 5 The entrusted institution shall release the issuance charter, the credit rating report, the prospectus¹³ and the name list of the underwriting syndicate to investors five working days before the issuance of the asset-backed securities.

　　Where asset-backed securities are issued in installments¹⁴, information relating to its first issue shall be disclosed in accordance with the first provision of this article, while the entrusted institution shall only release the supplementary¹⁵ issuance charters five working days before the following issues.

　　Article 6 The entrusted institution shall explain in the issuance charter the liquidation¹⁶ sequence as well as investment risks of the asset-backed securities, and declare in a noticeable place that " Investors shall carefully read this document and other relevant information-disclosing documents and make independent investment judgments¹⁸. The approval of the issuance of the said securities by administrative organs implies neither an assessment¹⁹ of the investment value nor a judgment¹⁷ of the investment risks of the said securities".

　　Article 7 The entrusted institution shall disclose the issuance result of the asset-backed securities on the day the issuance completes or on the immediate²⁰ following working day.

　　Article 8 Before the maturity²¹ of the asset-backed securities, the entrusted institution shall announce the trusteeship report （the compiling requirements are attached） 3 working days before the principal redemption and interest payment of each issue of the asset-backed securities. The report shall reveal the status of the investment pool of each corresponding issue of the asset-backed securities as well as information in relation to the principal redemption and interest payment of asset-backed securities of each level. The annual trusteeship report of the previous year audited²² by certified²³ public accountants shall be disclosed on April 30 every year.

　　Article 9 The entrusted institution shall make relevant arrangements with a credit rating institution regarding the tracking rating of the said asset-backed securities and disclose to investors the tracking rating report of the previous financial year before July 31 each year.

　　Article 10 Where a general meeting of the asset-backed security holders²⁴ is to be held, the convener shall, at least 10 days in advance, announce the time, venue²⁵, mode, issues to be reviewed, procedures and voting method, etc. of the general meeting. In addition, the resolution of the general meeting shall be disclosed within 10 days after the conclusion of the general meeting.

　　Article 11 In cases when an unexpected major event takes place and might have substantial impact on the value of the asset-backed securities, the entrusted institution shall report to the People's Bank of China in addition to submitting information-disclosing documents to the NILBC and China Clearing Company within 3 working days after the occurrence of the event.

　　The major events referred to in this article include but are not limited to the following:

　　1） Occurrence or expected occurrence of the default of the entrusted institution in terms of timely principal redemption and interest payment of the asset-backed securities and other events that might have a negative impact on the investors' rights;

　　2） Violation²⁶ of the laws or regulations or breach²⁷ of contracts by the entrusted institution and service-providing institution for securitization, which might have a negative impact on the investment value of the asset-backed securities;

　　3） Substantial change of the third-party guarantor of the asset-backed securities;

　　4） Change of credit rating of the asset-backed securities;

　　5） Other events that shall be announced according to stipulations of the trust contract;

　　6） Other events that shall be announced according to the stipulations of the People's Bank of China and China Banking²⁸ Regulatory Commission;

　　7） Other events that shall be announced according to laws or administrative regulations.

　　Article 12 The NILBC and China Clearing Company shall disclose the related documents no later than 1 working day after they receive documents of information disclosure.

　　Article 13 Information disclosure of asset-backed securities is not only subject to these Rules but also the Administrative Rules for the Trading and Circulation of Bonds in the National Inter-bank Bond Market （ People's Bank of China Decree No. 2 [2000]）, the Administrative Rules for the Issuance of Financial Bonds in the Inter-bank Bond Market （People's Bank of China Decree No. [2005]） and the Approving Guidance on the Transaction and Circulation of Bonds in the National Inter-bank Bond Market （ People's Bank of China Announcement No. 19 [2004] ） and other related rules.

　　Article 14 The People's Bank of China is responsible for the interpretation²⁹ of these Rules.

　　Article 15 These Rules shall enter into effect on date of promulgation

　　Annex:Compiling Requirements for the Report of the Entrusted Institution

　　1. Names and addresses of the entrusted institution and the service-providing institution for securitization.

　　2. Information about principal redemption and interest payment, which includes the counted paid-in amount of the principal, outstanding balance of the principal both at the beginning and end of the current period, coupon³⁰ rate of the security, information about principal redemption and interest payment for the current period, information about interest in arrears³¹ for the current period, information about loss of the principal for the current period, credit rating situation, etc.

　　3. Information about characteristics of the asset pool for the current period, which includes outstanding balance of the loans, total amount of the loans, weighted average interest rate of loans and weighted average remaining term of the loans, etc.

　　4. Information about the list of principals for the current period （ including normal amount of principal redemption, amount of principal settled in advance, amount of principal redeemed³² in advance, amount of disposition³³ of principal callback as well as repurchase of the principal of the loans） as well as the list of interests （including the expenses of tax and fees） in the asset pool.

　　5. Information about repayment³⁴ in advance, repayment in arrears, breach of contract, disposition, disposition of callback, loss, etc. of the asset pool.

　　6. Information about credit rating enhancement both internally and externally.

　　7. Information about the fiduciary³⁵ assets going through a lawsuit³⁶ procedure in the asset pool; progress of the lawsuit.

　　8. Information about the total amount of the investment income or loss arising from the approved investment activities based on the trust contract.

　　9. Other information that shall be disclosed

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收听单词发音

1 investors
n.投资者，出资者( investor的名词复数 )
参考例句：
a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子 a cash bonanza for investors 投资者的赚钱机会

2 formulates
v.构想出( formulate的第三人称单数 )；规划；确切地阐述；用公式表示
参考例句：
Article Eleven SEPA formulates the overall plans of the training. 第十一条环保总局统筹规划培训工作。来自互联网 This paper carries on the experimental analysis and formulates some anti-disturbance measures. 文章对电磁干扰进行了实验分析，并有针对性地制定一些抗干扰措施。来自互联网

3 promulgating
v.宣扬（某事物）( promulgate的现在分词 )；传播；公布；颁布（法令、新法律等）
参考例句：
While they promulgating the Christianity, English was also publicized in China. 他们在传教的同时，英语也在中国得到了广泛的传播。来自互联网 It is a philosophy of life, promulgating numerous and complicated existence. “生活艺术论”是林语堂文化观、人生观和审美观的集中体现。来自互联网

4 promulgation
n.颁布
参考例句：
The new law comes into force from the day of its promulgation. 新法律自公布之日起生效。来自《简明英汉词典》 Article 118 These Regulations shall come into effect from the day of their promulgation. 第一百一十八条本条例自公布之日起实施。来自经济法规部分

5 formulated
v.构想出( formulate的过去式和过去分词 )；规划；确切地阐述；用公式表示
参考例句：
He claims that the writer never consciously formulated his own theoretical position. 他声称该作家从未有意识地阐明他自己的理论见解。来自《简明英汉词典》 This idea can be formulated in two different ways. 这个意思可以有两种说法。来自《现代汉英综合大词典》

6 administrative
adj.行政的，管理的
参考例句：
The administrative burden must be lifted from local government.必须解除地方政府的行政负担。 He regarded all these administrative details as beneath his notice.他认为行政管理上的这些琐事都不值一顾。

7 entrusted
v.委托，托付( entrust的过去式和过去分词 )
参考例句：
He entrusted the task to his nephew. 他把这任务托付给了他的侄儿。 She was entrusted with the direction of the project. 她受委托负责这项计划。来自《简明英汉词典》

8 stipulated
vt.& vi.规定；约定adj.[法]合同规定的
参考例句：
A delivery date is stipulated in the contract. 合同中规定了交货日期。 Yes, I think that's what we stipulated. 对呀，我想那是我们所订定的。来自辞典例句

9 truthfulness
n. 符合实际
参考例句：
Among her many virtues are loyalty, courage, and truthfulness. 她有许多的美德，如忠诚、勇敢和诚实。 I fired a hundred questions concerning the truthfulness of his statement. 我对他发言的真实性提出一连串质问。

10 omissions
n.省略( omission的名词复数 )；删节；遗漏；略去或漏掉的事（或人）
参考例句：
In spite of careful checking, there are still omissions. 饶这么细心核对，还是有遗漏。来自《现代汉英综合大词典》 It has many omissions; even so, it is quite a useful reference book. 那本书有许多遗漏之处，即使如此，尚不失为一本有用的参考书。来自《现代汉英综合大词典》

11 stipulation
n.契约，规定，条文；条款说明
参考例句：
There's no stipulation as to the amount you can invest. 没有关于投资额的规定。来自《简明英汉词典》 The only stipulation the building society makes is that house must be insured. 建屋互助会作出的唯一规定是房屋必须保险。来自《简明英汉词典》

12 initiating
v.开始( initiate的现在分词 )；传授；发起；接纳新成员
参考例句：
He is good at initiating projects but rarely follows through with anything. 他善于创建项目，但难得坚持完成。来自《简明英汉词典》 Only the perchlorate shows marked sensitiveness and possibly initiating properties. 只有高氯酸盐表现有显著的感度和可能具有起爆性能。来自辞典例句

13 prospectus
n.计划书；说明书；慕股书
参考例句：
An order form was included with the prospectus.订单附在说明书上。 The prospectus is the most important instrument of legal document.招股说明书是上市公司信息披露制度最重要法律文件。

14 installments
部分( installment的名词复数 )
参考例句：
The first two installments were pretty close together in 1980. 第一次和节二次提款隔得很近，都是在1980年提的。 You have an installments sales contract. 你已经订立了一份分期付款的买卖契约了。

15 supplementary
adj.补充的，附加的
参考例句：
There is a supplementary water supply in case the rain supply fails.万一主水源断了，我们另外有供水的地方。 A supplementary volume has been published containing the index.附有索引的增补卷已经出版。

16 liquidation
n.清算，停止营业
参考例句：
The bankrupt company went into liquidation.这家破产公司停业清盘。 He lost all he possessed when his company was put into liquidation.当公司被清算结业时他失去了拥有的一切。

17 judgment
n.审判；判断力，识别力，看法，意见
参考例句：
The chairman flatters himself on his judgment of people.主席自认为他审视人比别人高明。 He's a man of excellent judgment.他眼力过人。

18 judgments
判断( judgment的名词复数 )；鉴定；评价；审判
参考例句：
A peculiar austerity marked his judgments of modern life. 他对现代生活的批评带着一种特殊的苛刻。 He is swift with his judgments. 他判断迅速。

19 assessment
n.评价；评估；对财产的估价，被估定的金额
参考例句：
This is a very perceptive assessment of the situation.这是一个对该情况的极富洞察力的评价。 What is your assessment of the situation?你对时局的看法如何？

20 immediate
adj.立即的；直接的，最接近的；紧靠的
参考例句：
His immediate neighbours felt it their duty to call.他的近邻认为他们有责任去拜访。 We declared ourselves for the immediate convocation of the meeting.我们主张立即召开这个会议。

21 maturity
n.成熟；完成；(支票、债券等)到期
参考例句：
These plants ought to reach maturity after five years.这些植物五年后就该长成了。 This is the period at which the body attains maturity.这是身体发育成熟的时期。

22 audited
v.审计，查账( audit的过去式和过去分词 )
参考例句：
The accounts have to be audited by a firm of external auditors. 这些账目必须由一家外聘审计员的公司来稽查。来自《简明英汉词典》 E. g. few if any charities collection publishes audited accounts. 例如很少义款收集有公布经过查核的帐目。来自互联网

23 certified
a.经证明合格的；具有证明文件的
参考例句：
Doctors certified him as insane. 医生证明他精神失常。 The planes were certified airworthy. 飞机被证明适于航行。

24 holders
支持物( holder的名词复数 )；持有者；（支票等）持有人；支托（或握持）…之物
参考例句：
Slaves were mercilessly ground down by slave holders. 奴隶受奴隶主的残酷压迫。 It is recognition of compassion's part that leads the up-holders of capital punishment to accuse the abolitionists of sentimentality in being more sorry for the murderer than for his victim. 正是对怜悯的作用有了认识，才使得死刑的提倡者指控主张废除死刑的人感情用事，同情谋杀犯胜过同情受害者。

25 venue
n.犯罪地点，审判地，管辖地，发生地点，集合地点
参考例句：
The hall provided a venue for weddings and other functions.大厅给婚礼和其他社会活动提供了场所。 The chosen venue caused great controversy among the people.人们就审判地点的问题产生了极大的争议。

26 violation
n.违反(行为)，违背(行为)，侵犯
参考例句：
He roared that was a violation of the rules.他大声说，那是违反规则的。 He was fined 200 dollars for violation of traffic regulation.他因违反交通规则被罚款200美元。

27 breach
n.违反，不履行；破裂；vt.冲破，攻破
参考例句：
We won't have any breach of discipline.我们不允许任何破坏纪律的现象。 He was sued for breach of contract.他因不履行合同而被起诉。

28 banking
n.银行业，银行学，金融业
参考例句：
John is launching his son on a career in banking.约翰打算让儿子在银行界谋一个新职位。 He possesses an extensive knowledge of banking.他具有广博的银行业务知识。

29 interpretation
n.解释，说明，描述；艺术处理
参考例句：
His statement admits of one interpretation only.他的话只有一种解释。 Analysis and interpretation is a very personal thing.分析与说明是个很主观的事情。

30 coupon
n.息票，配给票，附单
参考例句：
The coupon can be used once only.此优惠券只限使用一次。 I have a coupon for ten pence off a packet of soap.我有一张优惠券买一盒肥皂可以便宜十便士。

31 arrears
n.到期未付之债，拖欠的款项；待做的工作
参考例句：
The payments on that car loan are in arrears by three months.购车贷款的偿付被拖欠了三个月。 They are urgent for payment of arrears of wages.他们催讨拖欠的工钱。

32 redeemed
adj. 可赎回的，可救赎的动词redeem的过去式和过去分词形式
参考例句：
She has redeemed her pawned jewellery. 她赎回了当掉的珠宝。 He redeemed his watch from the pawnbroker's. 他从当铺赎回手表。

33 disposition
n.性情，性格；意向，倾向；排列，部署
参考例句：
He has made a good disposition of his property.他已对财产作了妥善处理。 He has a cheerful disposition.他性情开朗。

34 repayment
n.偿还，偿还款；报酬
参考例句：
I am entitled to a repayment for the damaged goods.我有权利索取货物损坏赔偿金。 The tax authorities have been harrying her for repayment.税务局一直在催她补交税款。

35 fiduciary
adj.受托的，信托的
参考例句：
A company director owes a fiduciary duty to the company.公司董事应对公司负责受托人责任。 He was acting in a fiduciary capacity.他以受托人身份行为。

36 lawsuit
n.诉讼，控诉
参考例句：
They threatened him with a lawsuit.他们以诉讼威逼他。 He was perpetually involving himself in this long lawsuit.他使自己无休止地卷入这场长时间的诉讼。

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