The second subgroup (subgroup leader: Professor Yoshihisa Nohmi of the University of Tokyo) of the Study Group on Legal Matters in Banking (established by JBA in October 1990 and headed by Professor Emeritus Hitoshi Maeda of Gakushuin University) has published the report "New Phase of Credit and Movables Collateral." The report compiles the findings of their FY 2003 study. The outline of the report is as follows.
1. Purpose
As the use of real property collateral is overly dominant, credit and movables collateral is gaining more attention among legal scholars and the business world. There are also signs of legislative action and a bill has been proposed that will result in expanded use of movables collateral and future credit collateral. The report discusses legal issues of new collateral based on discussion in the legislation, past discussions and recent movements.
2. Composition
Chapter 1: Future credit or multiple credit collateral
Chapter 2: Ordinary deposit collateral
Chapter 3: Movables collateral
Chapter 4: Paperless stock and bonds as collateral
Chapter 5: Beneficiary rights in trust as collateral