上交所修订资产支持证券大类基础资产指引推动债券市场高质量发展

智通财经07-24

智通财经APP获悉，上海证券交易所于7月24日修订发布了《上海证券交易所资产支持证券挂牌条件确认规则适用指引第2号--大类基础资产(2026年修订)》。本次《大类基础资产指引》修订对部分原有条款进行了优化调整，过程中充分征求了市场机构的意见，并纳入了近期审核实践的最新要求，主要修订要点为:一是严把保理应收款 ABS 准入关，明确保理公司支付保理价款的资金来源不得由债务人垫付，压实保理公司对入池应收...

网页链接

免责声明：本文观点仅代表作者个人观点，不构成本平台的投资建议，本平台不对文章信息准确性、完整性和及时性做出任何保证，亦不对因使用或信赖文章信息引发的任何损失承担责任。

精彩评论

我们需要你的真知灼见来填补这片空白

发表看法

{"i18n":{"language":"zh_CN"},"isChannel":false,"data":{"share":"https://www.laohunote.com/m/news/2653088428?lang=zh_CN&edition=full","thumbnail":"","is_english":false,"pubTime":"2026-07-24 17:23","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2653088428","market":"fut","top_or_hot":-1,"title":"上交所修订资产支持证券大类基础资产指引 推动债券市场高质量发展","media":"智通财经","content":"<div>\n<p>智通财经APP获悉，上海证券交易所于7月24日修订发布了《上海证券交易所资产支持证券挂牌条件确认规则适用指引第2号--大类基础资产(2026年修订)》。本次《大类基础资产指引》修订对部分原有条款进行了优化调整，过程中充分征求了市场机构的意见，并纳入了近期审核实践的最新要求，主要修订要点为:一是严把保理应收款 ABS 准入关，明确保理公司支付保理价款的资金来源不得由债务人垫付，压实保理公司对入池应收...</p>\n\n<a href=\"http://www.zhitongcaijing.com/content/detail/1471974.html\">网页链接</a>\n\n</div>\n","source":"stock_zhitongcaijing","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>上交所修订资产支持证券大类基础资产指引 推动债券市场高质量发展</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n上交所修订资产支持证券大类基础资产指引 推动债券市场高质量发展\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-07-24 17:23 北京时间&nbsp;&nbsp;&nbsp;<a href=http://www.zhitongcaijing.com/content/detail/1471974.html><strong>智通财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>智通财经APP获悉，上海证券交易所于7月24日修订发布了《上海证券交易所资产支持证券挂牌条件确认规则适用指引第2号--大类基础资产(2026年修订)》。本次《大类基础资产指引》修订对部分原有条款进行了优化调整，过程中充分征求了市场机构的意见，并纳入了近期审核实践的最新要求，主要修订要点为:一是严把保理应收款 ABS 准入关，明确保理公司支付保理价款的资金来源不得由债务人垫付，压实保理公司对入池应收...</p>\n\n<a href=\"http://www.zhitongcaijing.com/content/detail/1471974.html\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SCIO","symbol_name":"First Trust Structured Credit Income Opportunities ETF","start_time":0,"source_url":"http://www.zhitongcaijing.com/content/detail/1471974.html","article_id":"2653088428","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2653088428","pubTimestamp":1784885018,"columns":[],"sourceInfo":{"source_id":"stock_zhitongcaijing","name":"智通财经网"},"weMediaInfo":null,"summary":"原文如下：上交所修订资产支持证券大类基础资产指引 推动债券市场高质量发展为明确市场预期，推动业务高质量发展，上海证券交易所于7月24日修订发布了《上海证券交易所资产支持证券挂牌条件确认规则适用指引第2号--大类基础资产》。这是在中国证监会指导下，上交所建立公开、透明、可预期的资产证券化产品制度机制，进一步提升债券市场服务实体经济能力的重要举措。","collect":0,"end_time":0,"defaultTopTitle":"zhitongcaijing.com","property":[],"viewcount":null,"language":"zh","relate_stocks":{"SCIO":"First Trust Structured Credit Income Opportunities ETF","VABS":"Virtus Newfleet ABS/MBS ETF","OGSP":"Obra High Grade Structured Products ETF","JSI":"JANUS HENDERSON SECURITIZED INCOME ETF","DMBS":"DOUBLELINE MORTGAGE ETF","DIAL":"Columbia Diversified Fixed Income Allocation ETF","NSCI":"Nuveen Securitized Income ETF","DMX":"DoubleLine Multi-Sector Income ETF","EVG":"Eaton Vance Short Duration Diver","DABS":"DOUBLELINE ASSET-BACKED SECURITIES ETF","BK4196":"保健护理服务","TOTL":"SPDR DoubleLine Total Return Tactical ETF","ASEC":"American Century Securitized Credit ETF","OOSP":"Obra Opportunistic Structured Products ETF","PKO":"PIMCO Income Opportunity Fund","PINC":"PGIM SECURITIZED INCOME ETF","TRBF":"Angel Oak Total Return ETF","MBS":"ANGEL OAK MORTGAGE-BACKED SECURITIES ETF","JABS":"Janus Henderson Asset-Backed Securities ETF","WDE":"Principal Securitized Debt ETF","BKAG":"BNY Mellon Core Bond ETF","FSEC":"Fidelity Investment Grade Securitized ETF","HYIN":"WisdomTree Alternative Income Fund","SECR":"NYLIM Mackay Securitized Income ETF","JSCP":"JPMorgan Short Duration Core Plus ETF","DEED":"First Trust TCW Securitized Plus ETF","TSEC":"Touchstone Securitized Income ETF","DSCO":"DoubleLine Securitized Credit ETF","PSDM":"PGIM SHORT DURATION MULTI-SECTOR BOND ETF","GISC":"Guggenheim Securitized Income ETF","JPLD":"JPMorgan Limited Duration Bond ETF","UYLD":"Angel Oak Ultrashort Income ETF","DBL":"Doubleline Opportunistic Credit","PSQO":"Palmer Square Credit Opportunities ETF","CGMS":"Capital Group U.S. Multi-Sector Income ETF","SECU":"iShares Securitized Income Active ETF"},"translate_title":"Shanghai Stock Exchange Revises the Guidelines for Underlying Assets of Asset-backed Securities to Promote the High-quality Development of Bond Market","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"UYLD":1.5,"TRBF":1.5,"DBL":1.5,"OGSP":1.5,"SCIO":1.5,"BKAG":1.5,"SECU":1.5,"DSCO":1.5,"CGMS":1.5,"PSDM":1.5,"GISC":1.5,"TSEC":1.5,"OOSP":1.5,"NSCI":1.5,"PINC":1.5,"DMBS":1.5,"DMX":1.5,"EVG":1.5,"FSEC":1.5,"HYIN":1.5,"TOTL":1.5,"DIAL":1.5,"JABS":1.5,"WDE":1.5,"PKO":1.5,"JPLD":1.5,"SECR":1.5,"ASEC":1.5,"JSCP":1.5,"JSI":1.5,"DABS":1.5,"VABS":1.5,"MBS":1.5,"DEED":1.5,"PSQO":1.5},"content_text":"智通财经APP获悉，上海证券交易所于7月24日修订发布了《上海证券交易所资产支持证券挂牌条件确认规则适用指引第2号--大类基础资产(2026年修订)》。本次《大类基础资产指引》修订对部分原有条款进行了优化调整，过程中充分征求了市场机构的意见，并纳入了近期审核实践的最新要求，主要修订要点为:一是严把保理应收款 ABS 准入关，明确保理公司支付保理价款的资金来源不得由债务人垫付，压实保理公司对入池应收账款真实性和交易合同合规性的尽调核查职责，细化贸易类应收账款审核要求。二是突出资产信用，提高资产质量要求，压实管理人和中介机构对于基础资产现金流独立性、关联交易公允性等的核查要求，防范发生现金流混同风险。三是结合审核实践，补充各基础资产类型的重点关注事项。原文如下：上交所修订资产支持证券大类基础资产指引 推动债券市场高质量发展为明确市场预期，推动业务高质量发展，上海证券交易所于7月24日修订发布了《上海证券交易所资产支持证券挂牌条件确认规则适用指引第2号--大类基础资产(2026年修订)》(以下简称《大类基础资产指引》)。这是在中国证监会指导下，上交所建立公开、透明、可预期的资产证券化产品制度机制，进一步提升债券市场服务实体经济能力的重要举措。新增不动产专章 助力构建多层次不动产证券化市场近年来，不动产证券化业务快速发展，已成为盘活存量资产、拓宽权益融资渠道的重要工具。具备权益属性特征的不动产资产支持证券(以下简称机构间REITs)是资产证券化市场的最新创新产品，是多层次REITs市场的重要组成部分。经过两年多的探索实践，上交所机构间REITs累计发行规模近 1000亿元，已涵盖高速公路、租赁住房、仓储物流、数据中心、商业物业、新能源基础设施等15个细分业态，为央国企、民营企业和外资企业等各种所有制主体提供了盘活存量资产、实现业务发展模式转变的有效资本市场工具。市场主体对于产品特性、结构和功能发挥已形成基本共识，为进一步明确产品制度依据、规范产品要求提供了坚实基础。本次《大类基础资产指引》修订以专章形式规范不动产基础资产的准入标准和信息披露要求，主要修订要点为:一是增设不动产基础资产章节，补齐指引中关于此类基础资产的空缺，明确了不动产基础资产定义及资产类型，规范了不动产项目控制、资产重组、国资转让等准入要求。二是增设机构间REITs特别规定章节，从制度层面明确将具备权益属性特征的不动产ABS命名为机构间REITs(原持有型不动产ABS)，明确了其权益属性的产品定位和要求。完善大类基础资产关注要点突出资产信用严把准入关结合审核实践、政策导向、市场关切，本次《大类基础资产指引》修订对部分原有条款进行了优化调整，过程中充分征求了市场机构的意见，并纳入了近期审核实践的最新要求，主要修订要点为:一是严把保理应收款 ABS 准入关，明确保理公司支付保理价款的资金来源不得由债务人垫付，压实保理公司对入池应收账款真实性和交易合同合规性的尽调核查职责，细化贸易类应收账款审核要求。二是突出资产信用，提高资产质量要求，压实管理人和中介机构对于基础资产现金流独立性、关联交易公允性等的核查要求，防范发生现金流混同风险。三是结合审核实践，补充各基础资产类型的重点关注事项，例如明确融资租赁准入标准，要求租赁物不得包括消费品、低值易耗品，强化租赁物可处置性核查;调整个人互联网消费贷款金额上限要求，限制互联网助贷业务杠杆规模;细化未来经营收入类项目对特定原始权益人的运营成本覆盖要求等。下一步，上交所将立足新发展阶段，贯彻新发展理念，牢牢把握“防风险、强监管、促高质量发展”的工作主线，按照中国证监会统一部署，贯彻“强本强基、严监严管”的工作要求，坚持公开透明，完善资产支持证券规则体系，引导市场主体归位尽责，激发市场创新发展动力，进一步发挥资产证券化市场功能，推进债券市场高质量发展，更好服务构建新发展格局，不断增强服务国家战略和实体经济的质效。本文编选自上交所发布，智通财经编辑：陈雯芳。","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":1,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"isLaohu8Offline":false,"tenantId":"TBCN","deviceId":"web-server-community-laohu8-v3","version":"4.50.0","shortVersion":"4.50.0","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2653088428","isCrawlerRequest":true}

上交所修订资产支持证券大类基础资产指引 推动债券市场高质量发展

精彩评论

上交所修订资产支持证券大类基础资产指引推动债券市场高质量发展