后危机时期投资银行体系中的缺陷与应对

Defections and countermeasures of investment bank system in post-crisis era

在2008年次贷危机爆发,混业经营成为金融市场未来主要发展趋势的背景下,投资银行的业务模式正经历着深刻的变革。针对后危机时期投资银行体系存在的监管缺失、财务杠杆比率过高、衍生品创新过度以及薪酬制度不合理等严重缺陷,提出了加强风险控制、抑制泛滥的金融"创新"、加强自律以及完善激励机制的改革等应对措施。

As the breaking out of subprime crisis in 2008, the business pattern of investment banks is now experiencing a profound reform, while mixed operation and diversification has become the leading tendency in financial market. According to the severe defects of the system in post-crisis era, such as lack of supervision, immoderate financial leverage, excessive derivative innovation and unreasonable remuneration mechanism, the countermeasures of reform are proposed in the aspects of reinforcing the risk control, restraining the excessive financial innovation, strengthening the self-discipline and improving the reform of incentive mechanism.