服務資產及負債相關會計處理與應用之研究

Abstract

在台灣金融資產證券化將由初始探索階段進入蓬勃發展的情況下，建立一個能夠因應台灣金融市場的完整證券化體系刻不容緩。本研究對未來影響各資產證券化參與者甚钜的財會制度方面進行探討，整理金融資產證券發行流程及該證券在各階段中所必須面對的破產隔離、資產移轉、真實買賣、負債消滅等相關議題在會計上的處理。另外，針對在未來台灣因金融資產證券化而勢必會產生的相關金融機構—服務機構，對於該機構與各參與者間的交易流程及交易衡量方式進行介紹，並提供相關會計釋例作為佐證。接著利用年服務(費用)收入比率、提前還本比率、證券存續期間等三項對服務機構整體營運及未來財務規劃影響較大的因素，進行情境模擬以作為未來服務機構在與參與者訂定相關交易契約時的參考依據。最後依以上的敏感性分析，並與美國現行資產證券市場情況相比較，對於台灣目前所可能遭 遇的潛在危險及未來發展提出結論與建議。

In last few years, asset securitization has grown fast in Taiwan. Before it gets into mature stage and expands to be complicated, it’s necessary to build a general, localized and complete system to prevent the potential problems happening in the future. According to these reasons, the study focuses on the financial accounting aspect of asset securitization to introduce the measurements of accounting issues when the general asset securitization processes going, which include bankruptcy promotion, asset transferring, true sales, extinguishments of liabilities, etc.. Besides, it can be expected that the servicing institution will be established when asset securitization of Taiwan goes into the mature stage. So the study presents the details about servicing institution in many dimensions, especially in financial operating and accounting measurements. Furthermore, the sensitive analysis is shown to explain how the three primary factors —servicing fees income rate, prepayment rate, and the securities periods— affect the changes of financial operating and estimation of amortization of servicing institution. At final, the study integrates the rules mentioned before and the actual situation in Taiwan to supply some suggestion for the development of asset securitization of Taiwan.