全能金融——德国金融体制的特点

The AllFinanz——The characteristic features of the German financial system

自20世纪80年代以来,关于采用分业金融还是混业金融始终是西方国家经济生活中的热门话题。但我国理论界对德国一直实行商业银行业务与投资银行业务混合经营的全能银行制度和当今的新发展——全能金融未予以充分重视。本文以当今德国全能金融体制为研究对象,从银行、公司治理机制和风险管理几个崭新的视角来归纳德国金融体制的特点。

From the 1980s, it has become a hot topic in the west countries which model should be carried out, the prepared finance or conglomerated finance. But in the Chinese academia emphasis on both the universal banking which conglomerates the commercial business and investment banking business and the new AllFinanz is not enough. This paper focuses on the German AllFinanz system and sums up the German characteristic features from the new angles of banking, corporate governance and risk management.