A financial asset securitization investment trust (FASIT) was a type of special purpose entity used for securitization of any debt and issuance of asset-backed securities, defined under section 1621 of the Small Business Job Protection Act of 1996, and repealed under section 835 of the American Jobs Creation Act of 2004. They were similar to a Real Estate Mortgage Investment Conduit (REMIC) but could also securitize non-mortgage debts, such as automobile loans and credit card debt.
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| - Financial asset securitization investment trust (en)
- FASIT (ja)
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| - FASIT(Financial asset securitization investment trust)とは、1996年にアメリカ合衆国で導入された課税上特殊な取り扱いを受ける事業体の一種である。「金融資産証券化投資信託」などと訳すことができる。 FASITは、一般法人(アメリカ合衆国の内国歳入法典におけるC法人)が単独出資により株式会社、トラスト、パートナーシップの形態で一定要件を満たす事業体を組成したのちに当局の認可を受けたもので、そのものは(法人)所得税の納税義務を免除されるという点に最大の特徴がある(内国歳入法860H(a))。 (ja)
- A financial asset securitization investment trust (FASIT) was a type of special purpose entity used for securitization of any debt and issuance of asset-backed securities, defined under section 1621 of the Small Business Job Protection Act of 1996, and repealed under section 835 of the American Jobs Creation Act of 2004. They were similar to a Real Estate Mortgage Investment Conduit (REMIC) but could also securitize non-mortgage debts, such as automobile loans and credit card debt. (en)
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| - A financial asset securitization investment trust (FASIT) was a type of special purpose entity used for securitization of any debt and issuance of asset-backed securities, defined under section 1621 of the Small Business Job Protection Act of 1996, and repealed under section 835 of the American Jobs Creation Act of 2004. They were similar to a Real Estate Mortgage Investment Conduit (REMIC) but could also securitize non-mortgage debts, such as automobile loans and credit card debt. In the Enron scandal, Enron used FASITs to avoid Subpart F rules on foreign income. The United States Congress Joint Committee on Taxation staff, in their investigation of the Enron scandal, recommended that FASIT rules be repealed as they were "not widely used in the manner envisioned by the Congress and thus have failed to further their intended purposes" and because of the "abuse potential inherent in the FASIT vehicle". (en)
- FASIT(Financial asset securitization investment trust)とは、1996年にアメリカ合衆国で導入された課税上特殊な取り扱いを受ける事業体の一種である。「金融資産証券化投資信託」などと訳すことができる。 FASITは、一般法人(アメリカ合衆国の内国歳入法典におけるC法人)が単独出資により株式会社、トラスト、パートナーシップの形態で一定要件を満たす事業体を組成したのちに当局の認可を受けたもので、そのものは(法人)所得税の納税義務を免除されるという点に最大の特徴がある(内国歳入法860H(a))。 (ja)
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