晚近国外金融规管创新的基本脉络

20世纪70年代末以来,金融规管创新在与金融自由化、金融危机、金融全球化等主导因素的交互作用中不断推进。金融规管目标日益多元化,一体化金融监管组织结构得到广泛采用,成本收益分析被引入规则制定过程,制度安排进一步强调与激励的兼容,市场约束与法人治理对金融安全的作用受到空前重视,限制金融竞争为促进金融竞争所取代,旨在保护金融消费者的投诉处理专员制度得到推广,政府干预问题金融机构由基于自由裁量向基于既定规则转变,针对低收入者的基本银行业务保障制度在许多国家得以确立。概而言之,提高规管效能、降低规管成本,乃是晚近国外金融规管创新的核心追求。

The Recent Innovation of Financial Regulation and Supervision in Foreign Countries:An Outline

Since the late 1970s,financial regulation and supervision have kept being innovated,interacting with such major factors as financial liberalization and financial crisis and financial globalization.The objectives of financial regulation and supervision tend to multiply.Unified financial sector supervision has been adopted universally.Cost-benefit analysis has been introduced to make rules.The arrangements' compatibility with the incentives of respective financial market participators as well as the roles of market discipline and corporate governance to maintain financial security have gotten much attention.Limiting financial competition has been replaced by enhancing it.Ombudsman schemes have been set up in many countries to protect financial service consumers.Official intervention to problem financial institutions is based mostly on existing rules rather than the authorities' discretion.The regimes that ensure the low-income' access to the basic banking have been established in many countries.On the levels of international cooperation of financial supervision,so-called soft laws have shown more advantages.In sum,the key goal of these innovations is to improve the efficiency and reduce the cost of financial regulation and supervision at the same time.