摘要
中国债券市场进入风险与收益并存的“新时期”,债券违约数量与金额的快速增长促使监管层将目光投到债券市场发达国家,开始引入限制性条款等内部增信机制。基于美国与欧洲债券市场的实践经验,结合我国具体国情,运用比较研究的方法,提出由证券业协会制定“公司债券募集说明书合同范本”、规范条款内容表述、细化条款的类型划分、完善条款的履约监督与违约救济等规范公司债限制性条款的可行路径。
The bond market in China has entered an era that witnesses the coexistence of risk and profit.As the rapid growth of the number and amount of bond defaults events,Chinese regulators began to reference developed countries for their experiences in bond market and tried to introduce internal credit enhancement mechanisms,such as the restriction clauses.Through the comparative study on bond markets in Europe and the U. S. plus domestic conditions,this paper proposes the SAC ought to enact the"Model Contract of Chinese Corporate Bond Solicitation Instructions",to regulate the content of clauses strictly,to specify types of clauses,as well as to improve the supervision and perfect the breach remedies.
作者
胡珀
李卓伦
Hu Po;Li Zhuolun(School of Law,Lanzhou University,Lanzhou 730000,China)
出处
《北华大学学报（社会科学版）》
2019年第4期67-73,共7页
Journal of Beihua University(Social Sciences)
关键词
公司债券
债券合同
限制性条款
增信机制
Corporate bond
Bond covenants
Restriction clauses
Credit enhancement mechanism
