银行理财产品质押的法律探析

2008年，“两会”期间提交的关于准许以商业银行理财产品质押融资的议案，引发了人们关于银行理财产品能否质押的讨论。作为法律对商业要求的回应，本文首先根据产品持有人享有的权利对各类银行理财产品进行了法律上的定性，明确理财产品所包含的“普通债权”和“信托受益权”。其次通过法理分析确立了两类权利质押的可能性和合理性。最后提供了相关的制度安排以消除理财产品出质的法律障碍和控制质押业务所带来的风险，希望能对理财产品持有人享受融资便利有所贡献。

Law Analysis on Bank Finance Product Pledge

A bill about authorizing the holders of commercial bank financing products to pledge with it for financing,submitted in Two Conferences in 2008,attracted people's argumentation on whether financing products can be pledged.As the response of law Research to the demand from commerce,this article firstly defined and classified all sorts of financing products,according to the right of the holders as 'creditor' or 'cestui que trust',and then confirmed the possibility and the rationality of pledging two rights through legal analysis.Finally,some institutional arrangements interrelated were provided to remove the barrier due to the absence of statute and control the risk from the business of pledging the financing products,as a contribution to the holders' convenience for financing.