我国影子银行监管法律制度的反思及重构——美国的经验及其借鉴

发布时间：2018-04-24 03:12

本文选题：影子银行 + 利率非市场化　；参考：《法商研究》2015年04期

【摘要】：中、美两国金融系统中都存在影子银行体系,但两种体系在运作机制上截然不同。美国影子银行是独立运作、自成体系的"平行银行"体系,具备高杠杆、高风险的特点;而我国影子银行则是作为"银行之友",满足商业银行信贷无法提供的融资功能。两者的共同之处在于影子银行复制银行功能,同时规避监管,蕴含着系统性风险,因而从实现有效监管的目标出发,对影子银行范围的界定不能过窄。我国对影子银行的监管可以借鉴美国的改革经验,本着求同存异的原则,在监管法律原则方面,坚持金融服务实体经济,鼓励影子银行为实体经济发展提供动力;在监管法律政策方面,坚持宏观审慎监管以防范系统性风险,将影子银行正式纳入商业银行监管范畴,完善影子银行信息披露与信息共享机制,提高影子银行运行透明度,并建立对影子银行的资本充足率监管、流动性监管等法律制度。
[Abstract]:There are shadow banking systems in both China and the United States, but the operating mechanisms of the two systems are very different. American shadow banking is a "parallel bank" system which operates independently and has the characteristics of high leverage and high risk, while the shadow bank in our country, as a "friend of banks", meets the financing function that commercial bank credit cannot provide. The common point of both is that the shadow bank has the function of replicating the bank, while avoiding the supervision, which contains systemic risk. Therefore, the definition of the scope of the shadow bank should not be too narrow in order to achieve the goal of effective supervision. The supervision of shadow banking in China can draw lessons from the reform experience of the United States, in line with the principle of seeking common ground while reserving differences, adhere to the principle of financial services to the real economy and encourage the shadow banking to provide power for the development of the real economy in accordance with the principle of seeking common ground while reserving differences. In the aspect of regulatory law and policy, we should adhere to macro-prudential supervision to guard against systemic risks, formally bring shadow banking into the scope of commercial bank supervision, perfect the mechanism of information disclosure and information sharing in shadow banking, and enhance the transparency of shadow banking operation. And establish the shadow bank's capital adequacy ratio supervision, liquidity supervision and other legal systems.
【作者单位】：山东大学法学院;
【基金】：中国法学会部级法学研究课题[CLS(2014)D062] 山东省社会科学规划项目(13DFXJ03) 山东大学人文社会科学重大研究项目(13RWZD08)
【分类号】：D922.281

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