系统重要性金融机构监管国际改革：路径探微及启示.pdfVIP

中国人民银行工作论文 No.2014/4 PBC Working Paper No.2014/4 2014 年 10 月24 日 October 24,2014 系统重要性金融机构监管国际改革：路径探微及启示 钟 震1 摘要：系统重要性金融机构监管问题已成为后危机时代国际社会关注的焦点。与发达经济体 相比，我国系统重要性金融机构监管还存在一定的差距，从现实需要和发展趋势上看，都有 必要加快建设我国系统重要性金融机构监管框架。本文在研究国际经验的基础上，提出应从 内涵界定和基本特征出发，将现有国际改革路径归纳为三点，即重塑监管理念、重构监管主 体、调整监管政策。本文认为未来应该借鉴国际经验，立足我国的国情，寻求一条适合我国 系统重要性金融机构监管改革之路：短期尽快出台识别体系，中期有针对性地推出相关监管 工具的实施方案，长期立足于完善监管环境的制度安排。 Abstract: In the post-crisis era, the international community has paid significant attention to the regulation of Systemically Important Financial Institutions (SIFIs). Considering the current and future needs, China should also accelerate the pace of building its own regulatory framework for SIFIs. This paper argues that the path of international regulatory reform can be viewed from three dimensions, i.e., re-establishing regulatory philosophies, regulatory bodies and regulatory policies. Drawing upon international experiences and taking into account local conditions, the author believes that China should adopt the following reform approach: in the short term, focusing efforts on identifying SIFIs; in the medium term, introducing appropriate regulatory instruments and policies; in the longer term, optimizing institutional arrangements for the regulatory system. 关键词：系统重要性金融机构；改革路径；国际监管改革 声明：中国人民银行工作论文发表人民银行系统工作人员的研究成果，以利于开展学术交 流与研讨。论文内容仅代表作者个人学术观点，不代表人民银行。如需引用，请注明来源 为《中国人民银行工作论文》。 Disclaimer: The Working Paper Series of the Peoples Bank of China (PBC) publishes research reports written by staff members of the PBC, in order to facilitate scholarly exchanges. The views of these reports are those of the authors and do not represent the PBC. For any quotations from these reports, please state that the source is PBC working paper ser