Юридические документы о лизинге.
Проект документов о лизинге учрежден 01-10-1999 ; редакция от 01-11-2001.
Международная лизинговая энциклопедия.
The International Leasing Encyclopedia by Steven Gilyeart.
Энциклопедии не было в интернет последние полтора года, но это не означает, что ее нет вообще. я взял на себя смелость разместить на этом сайте всю подборку статей (собственно энциклопедию), с указанием адресов электронных почт авторов материалов и редактора. Материал на английском языке.
Licensing and Supervision of Leasing Activity (Part 1) by Steven Gilyeart, Editor, The International Leasing Resource Please Note: This article is the first in a series.
Introduction Leasing is most commonly supervised and regulated* in emerging markets. In the most mature leasing markets, such as the United States and the United Kingdom, leasing is completely unregulated. Of course, the quantity and quality of supervision will vary from country to country, ranging from the slight to the substantial. For example, Korea has heavy regulation. Germany is unregulated at the moment (but the EC Banking Directives may soon change that). France would be somewhere in the middle. Yet, even in countries that appear to have a substantial reporting and supervision system, the reality may nevertheless be quite different. The detailed reports that lessors must file may go directly to the filing cabinet without even a cursory review, due more often to staffing shortages and government budgetary constraints than a casual disregard of responsibility. However, there is often a lack of understanding of the leasing business on the part of the regulators who are charged with supervising it. It is easier to defer what one does not understand and to work on what one does, when there is not enough time or resources to do everything.
Why Leasing Gets Regulated Financial activity, particularly lending activity, gets regulated everywhere in the world. Modern financial leasing is a financial activity, although it is not the functional equivalent of a loan except in the earliest stages of leasing's development in a country. That is why leasing gets regulated. Yet, leasing finances the use of an asset rather than financing its acquisition. As leasing matures in an economy, it also takes on more and more service elements that further set it apart from lending. Modern operating leases may even have such a strong service component that they are more like a traditional rental. In fact, the lease of the future may not even be much of a lease at all but be more of a subscription to a set of bundled services, with the specific equipment playing only an incidental role. Modern equipment leasing is truly something new that defies historical categorization, and it continues to evolve. For these, as well as other reasons, just because leasing involves financial activity does not mean that it needs to be regulated as banks and other financial institutions are regulated. Yet, it is in some countries. Moreover, as leasing grows into more of a service product, rather than a financial type product, any need to have regulated it in its earlier stages will disappear. However, once a regulatory structure is in place, it can be hard to remove. Thus, when discussing leasing regulation, the validity of the need of the particular market at hand, and the realistic probabilities of achieving the desired level of financial market integrity, must be viewed with a refinement of purpose rather than a broad brushstroke of bureaucratic intention. To this end, the first consideration is the nature of the product to be addressed by a regulatory program.
What Gets Regulated Financial Leasing v. Operating Leasing and the Product to Be Supervised Whether or not leasing is regulated and the extent of regulation will often depend upon the applicable definition of finance lease or financial lease. Except in a very few countries, operating leases are not regulated. This is unsurprising in that operating leases are much the same as traditional rentals, which have always been unregulated. This is also consistent with the concept that the need for regulation exists in the first instance because the simple finance lease is the functional equivalent of a loan, a traditionally supervised financial product. Of course, as the leasing industry develops, not all of the leases on a lessor's books will be simple finance leases. Operating leases, and complex finance leases, where the lessor takes a significant residual position and shifts from just a credit risk to more of an asset risk, will be there in the portfolio mix as well. Nevertheless, if a regulatory regime has been established, all of the lessor's transactions, not just the simple finance leases, will be encompassed by the regulatory reporting and review mechanism--even though there is no independent justification for supervision of these types of products. Inclusion of these types of lease products that deviate from a pure credit-risk orientation of a traditional loan and similar lending products will also present even greater challenges for the Central Bank or Ministry of Finance auditor struggling with inadequate training to understand even "simple leasing." Three important regulatory principles follow from these practical considerations: (1) Regulation should only operate against the true loan equivalent--simple finance lease activity; (2) Thus, the definition of "finance lease" establishes the borders of the regulatory landscape, or in other words, the scope of activity subject to regulation; and (3) Given the goal of regulation--preservation of public confidence in financial system integrity--the definition of finance lease need not, and probably will not, be the same as the definition of finance lease for purposes of civil or commercial law rules governing the rights and responsibilities of the parties to a lease transaction (such as the lessor, lessee, supplier, and the rights of affected third parties).
*Regulation and supervision will be used in this article as synonyms.
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Updated11 February 1999