金融控股集团或有市场风险与央行监管的有效性

Aggregating Market Risk of Financial Holding Group and The Efficiency of Central Bank's Supervision

金融控股集团业绩变迁是机构和产品双重转型所导致的全面市场风险。而风险管理能力制约和监管滞后使得金融控股集团陷入次贷危机。与国际经验相类似,我国金融业也经历了混业—分业—混业的演变趋势,并已形成主业突出的五大组织类型。为有效因应综合化转型风险,我国应为既存的主监管机制提供明确的授权支撑,并在金融监管协调实体化的基础上,强化央行的市场稳定性监管权能,最终借助金融控股集团专门立法来实现统一监管。

The change of performance of financial holding groups is due to the aggregating market risk deriving from dual transition. The limitation of risk-defending capabicity and lag of supervision trapped Chinese financial holding groups in the influcence of American sub-prime loan crisis. Silimar to that of others countries in the world, Chinese financial industry has finished the dramatic turns from being blended-fragmented-blended , and formed five organizing styles. We should build up an entity for co-operation mechanism of institutional regulators according to Law of the People＇s Bank of China to identify institution for Primary Supervision. It＇s necessary to establish legislation for financial holding groups and financial regulatory entity for a long term.