欧盟金融机构复原与处置法律框架评述

A Review on the Legal Framework of EU Financial Institutions Recovery and Management

欧盟委员会继2010年10月20日发布关于欧盟金融业危机管理框架后,于2011年1月6日再次对外公布了关于欧盟金融机构复原与处置框架的工作文件,该文件是泛欧金融机构破产体系建设的重要步骤。根据金融机构所处的不同风险状况,该危机处置框架分设了风险阻却、早期干预与危机处置三个层次;同时提供了企业出售工具、过桥银行工具、资产剥离工具以及债务转换工具来进行危机金融机构的处置。该框架是欧盟在此次金融危机处置过程中的经验与教训的总结,也反映出未来法律变化的趋势。其中,风险阻却的法律措施、金融集团内部财务支持、特别管理人的任命、危机处置基金等制度内容值得借鉴。

After issuing the EU crisis regulatory framework for financial sector on October 20, 2010, European Commission announced the working paper on the recovery and management of the EU framework for financial institutions on January 6, 2011, which is an important step of developing the bankruptcy system for Pan-European financial institutions. According to the different risk profiles of the financial institutions, this framework sets up three levels： risk prevention, early intervention and crisis management. It also provides corporation sales tools, bridge bank tools, assets stripping tools and debt conversion tools for handling the crisis of financial institutions. This framework is the summary of the experience and lessons learned during this crisis and it also reflects the trend of the future legal changes. Among all the contents, legal measures of risk prevention, the internal financial support of financial institutions, particular appointment of managers, crisis management funds, etc. worth learning.