呆坏账处理是否蕴含着制度创新

NPL Treatment and Institutional Innovation

中国四大国有银行率先剥离呆坏账,使得其呆坏账率大幅度降低,避免了紧缩和金融危机。次贷危机以来,美国金融当局多次向金融业大规模注资,插手濒临倒闭金融机构的拯救活动,欧洲一些国家也在做同样的事情。这种被逼出来的用国家信用支持银行信用的手法,似乎有悖传统的市场原则,但它带给人们更多的思考:正在被改变的游戏规则中,是否蕴含着制度的创新?

The four state-owned commercial banks （ SCB ） of China firstly stripped non-performing assets, which significantly reduces the rate of bad debts of the four banks, and avoids deflation and financial crisis. Since the subprime crisis, the monetary authority of U.S.A has injected massive capital into its financial system to save some financial institutions facing collapsing.At the same time, some European countries are taking the same measures.This method is forced to make the national credit to support the bank＇s credit, which is contrary to the traditional market principles, but it is bringing us more thinking, such as whether the rules of the game being changed contains a system innovation.