Perbandingan aspek hukum efek beragun aset menurut ketentuan hukum pasar modal Indonesia dengan hukum pasar modal Amerika Serikat = Legal aspect comparison of asset backed securities between Indonesian's capital market law and capital market law in the United States

Novia, Grace (2012) Perbandingan aspek hukum efek beragun aset menurut ketentuan hukum pasar modal Indonesia dengan hukum pasar modal Amerika Serikat = Legal aspect comparison of asset backed securities between Indonesian's capital market law and capital market law in the United States. Bachelor thesis, Universitas Pelita Harapan.

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Abstract

Securities Exchange is an organized market or exchange where securities are trade. It plays one of the national development important roles, especially for economic growth. It often works as external source of financing for a company. In other side, it also brings profit for investor who has more cash. Nowadays securities that blooming and popular are Asset Backed Securities. An Asset Backed Security is a security whose value and income payments are derived from and collateralized or "backed" by a specified pool of underlying assets. The pool of assets is typically a group of small and illiquid assets that are unable to be sold individually. Pooling the assets into financial instruments allows them to be sold to general investors, a process called securitization, and allows the risk of investing in the underlying assets to be diversified because each security will represent a fraction of the total value of the diverse pool of underlying assets. The pools of underlying assets can include common payments from credit cards, auto loans, and mortgage loans. One incentive for banks to create securitized assets is to remove risky assets from their balance sheet by having another institution assume the credit risk, so that they will receive cash in return. This allows banks to invest more of their capital in new loans or other assets and possibly have a lower capital requirement. This practice will trigger the economic growth of a nation. In order Indonesia to grow this practice, we should learn from United States as pioneer in securities transaction worldwide and have been developed this kind of securities from few years ago. Therefore, the purpose of this legal research is to compare the legal aspect of Asset Backed Securities in Indonesia and United States. The result of this legal research will demonstrate how similarities and the differences of the legal aspect of Asset Backed Securities in Indonesia and United States so Indonesian regulation can move one step ahead.

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