資產(chǎn)支持證券信息披露規(guī)則
為規(guī)范資產(chǎn)支持證券信息披露行為，維護投資者合法權(quán)益，保證資產(chǎn)支持證券試點的順利進行，促進銀行間債券市場的健康發(fā)展，中國人民銀行制定了《資產(chǎn)支持證券信息披露規(guī)則》，現(xiàn)予公布。本規(guī)則自公布之日起施行。
中國人民銀行
二00五年六月十三日
資產(chǎn)支持證券信息披露規(guī)則
第一條 為規(guī)范資產(chǎn)支持證券信息披露行為，維護投資者合法權(quán)益，推動債券市場的發(fā)展，根據(jù)《信貸資產(chǎn)證券化試點管理辦法》(中國人民銀行公告(2005)第7號)等有關(guān)規(guī)定，制定本規(guī)則。
第二條 資產(chǎn)支持證券受托機構(gòu)(以下簡稱受托機構(gòu))的信息披露應(yīng)通過中國貨幣網(wǎng)、中國債券信息網(wǎng)以及中國人民銀行規(guī)定的其他方式進行。
第三條 受托機構(gòu)應(yīng)保證信息披露真實、準(zhǔn)確和完整，不得有虛假記載、誤導(dǎo)性陳述和重大遺漏。
資產(chǎn)支持證券發(fā)起機構(gòu)和接受受托機構(gòu)委托為證券化提供服務(wù)的機構(gòu)應(yīng)按照信托合同和服務(wù)合同的約定，及時向受托機構(gòu)提供有關(guān)信息報告，并保證所提供信息真實、準(zhǔn)確和完整。
第四條 受托機構(gòu)、為證券化提供服務(wù)的機構(gòu)、全國銀行間同業(yè)拆借中心(以下簡稱同業(yè)中心)、中央國債登記結(jié)算有限責(zé)任公司(以下簡稱中央結(jié)算公司)等相關(guān)知情人在信息披露前不得泄露擬披露的信息。
第五條 受托機構(gòu)應(yīng)在資產(chǎn)支持證券發(fā)行前的第五個工作日，向投資者披露發(fā)行說明書、評級報告、募集辦法和承銷團成員名單。
分期發(fā)行資產(chǎn)支持證券的，其第一期的信息披露按本條第一款的有關(guān)規(guī)定執(zhí)行；自第二期起，受托機構(gòu)只在每期資產(chǎn)支持證券發(fā)行前第五個工作日披露補充發(fā)行說明書。
第六條 受托機構(gòu)應(yīng)在發(fā)行說明書中說明資產(chǎn)支持證券的清償順序和投資風(fēng)險，并在顯著位置提示投資者：“投資者購買資產(chǎn)支持證券，應(yīng)當(dāng)認(rèn)真閱讀本文件及有關(guān)的信息披露文件，進行獨立的投資判斷。主管部門對本期證券發(fā)行的核準(zhǔn)，并不表明對本期證券的投資價值作出了任何評價，也不表明對本期證券的投資風(fēng)險作出了任何判斷”。
第七條 受托機構(gòu)應(yīng)在每期資產(chǎn)支持證券發(fā)行結(jié)束的當(dāng)日或次一工作日公布資產(chǎn)支持證券發(fā)行情況。
第八條 資產(chǎn)支持證券存續(xù)期內(nèi)，受托機構(gòu)應(yīng)在每期資產(chǎn)支持證券本息兌付日的三個工作日前公布受托機構(gòu)報告(編制要求附后)，反映當(dāng)期資產(chǎn)支持證券對應(yīng)的資產(chǎn)池狀況和各檔次資產(chǎn)支持證券對應(yīng)的本息兌付信息；每年4月30日前公布經(jīng)注冊會計師審計的上年度受托機構(gòu)報告。
第九條 受托機構(gòu)應(yīng)與信用評級機構(gòu)就資產(chǎn)支持證券跟蹤評級的有關(guān)安排作出約定，并應(yīng)于資產(chǎn)支持證券存續(xù)期內(nèi)每年的7月31日前向投資者披露上年度的跟蹤評級報告。
第十條 召開資產(chǎn)支持證券持有人大會，召集人應(yīng)至少提前三十日公布資產(chǎn)支持證券持有人大會的召開時間、地點、會議形式、審議事項、議事程序和表決方式等事項，并于大會結(jié)束后十日內(nèi)披露大會決議。
第十一條 在發(fā)生可能對資產(chǎn)支持證券投資價值有實質(zhì)性影響的臨時性重大事件時，受托機構(gòu)應(yīng)在事發(fā)后的三個工作日內(nèi)向同業(yè)中心和中央結(jié)算公司提交信息披露材料，并向中國人民銀行報告。
本條所稱重大事件包括但不限于以下事項：
(一)發(fā)生或預(yù)期將發(fā)生受托機構(gòu)不能按時兌付資產(chǎn)支持證券本息等影響投資者利益的事項；
(二)受托機構(gòu)和證券化服務(wù)機構(gòu)發(fā)生影響資產(chǎn)支持證券投資價值的違法、違規(guī)或違約事件；
(三)資產(chǎn)支持證券第三方擔(dān)保人主體發(fā)生變更；
(四)資產(chǎn)支持證券的信用評級發(fā)生變化；
(五)信托合同規(guī)定應(yīng)公告的其他事項；
(六)中國人民銀行和中國銀行業(yè)監(jiān)督管理委員會等監(jiān)管部門規(guī)定應(yīng)公告的其他事項；
(七)法律、行政法規(guī)規(guī)定應(yīng)公告的其他事項。
第十二條 同業(yè)中心和中央結(jié)算公司應(yīng)在不遲于收到信息披露文件的次一工作日將有關(guān)文件予以公告。
第十三條 資產(chǎn)支持證券的信息披露除適用本規(guī)則外，還適用于《全國銀行間債券市場債券交易管理辦法》(中國人民銀行令(2000)第2號)、《全國銀行間債券市場金融債券發(fā)行管理辦法》(中國人民銀行令(2005)第1號)和《全國銀行間債券市場債券交易流通審核規(guī)則》(中國人民銀行公告(2004)第19號)等有關(guān)規(guī)定。
第十四條 本規(guī)則由中國人民銀行負(fù)責(zé)解釋。
第十五條 本規(guī)則自公布之日起施行。
附：受托機構(gòu)報告編制要求
一、受托機構(gòu)和證券化服務(wù)機構(gòu)的名稱、地址。
二、各檔次證券的本息兌付情況，包括各檔次證券入庫時點的本金金額、本期期初及期末的本金余額、證券票面利率、本期本金和利息支付情況、本期利息遲付情況、本期本金損失情況以及評級情況等。
三、本期資產(chǎn)池統(tǒng)計特征說明，包括貸款余額、貸款數(shù)目、加權(quán)平均貸款利率和加權(quán)平均剩余期限等。
四、本期的資產(chǎn)池本金細(xì)項分列(含正常還本金額、本金提前結(jié)清金額、部分提前還本金額、處置回收本金金額及回購貸款本金金額等)和利息(含稅費支出)細(xì)項分列的說明。
五、資產(chǎn)池提前還款、拖欠、違約、處置、處置回收及損失等情況。
六、內(nèi)外部信用增級情況說明。
七、資產(chǎn)池中進入法律訴訟程序的信托資產(chǎn)情況；法律訴訟程序進度。
八、依信托合同所進行許可投資之投資收入或損失之總金額等情況。
九、其他情況說明。
Rules for the Information Disclosure of Asset-backed Securities
People's Bank of China Announcement No. 14 [2005]
To regulate information disclosure of asset-backed securities, safeguard the legal rights of investors, 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 formulates and is hereby promulgating the Rules for the Information Disclosure of Asset-backed Securities. These Rules shall enter into effect on date of promulgation.
The People's Bank of China
June 13, 2005
Rules for the Information Disclosure of Asset-backed Securities
Article 1 These Rules are formulated in accordance with the Administrative 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 entrusted 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 stipulated by the People's Bank of China.
Article 3 The entrusted institution shall ensure the truthfulness, accuracy and completeness of disclosed information. There shall be no falsified description, misleading statements or major omissions.
According to the stipulation of trust contracts or service contracts, the initiating 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 prospectus 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 installments, 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 supplementary issuance charters five working days before the following issues.
Article 6 The entrusted institution shall explain in the issuance charter the liquidation 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 judgments. The approval of the issuance of the said securities by administrative organs implies neither an assessment of the investment value nor a judgment 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 immediate following working day.
Article 8 Before the maturity 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 audited by certified 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 holders is to be held, the convener shall, at least 10 days in advance, announce the time, venue, 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) Violation of the laws or regulations or breach 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 Banking 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 interpretation 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, coupon rate of the security, information about principal redemption and interest payment for the current period, information about interest in arrears 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 redeemed in advance, amount of disposition 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 repayment 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 fiduciary assets going through a lawsuit 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.
