金融监管体制:国际比较、发展趋势与中国选择

Financial Regulatory System: the International Comparison, Development Trend and China's Choice

金融监管体制的选择与改革历来是各国理论界和政界争论的焦点。此次金融危机后,美、英两国对原有金融监管体制进行了大刀阔斧的改革,在不同程度上借鉴了双峰监管模式,明显加强了对金融消费者的保护和对系统性风险的监测与管理。这些变化给中国很多启示,妥善处理好审慎监管与消费者保护的内在冲突、加强宏观审慎监管与微观审慎监管的协调配合、完善金融消费者权益保护的体制机制应成为中国未来金融监管改革的重点。

The selection and reform of financial regulatory system has always been the focus of debate of academics and politicians all over the world. Since the financial crisis, the United States and Britain have carried out a bold reform on the original financial regulatory regimes, learned from the twin-peak regulatory model to varying degrees, and significantly strengthened financial consumer protection as well as the monitoring and management of systemic risks. These changes give China a lot of inspiration. China's financial regulatory reform should focus on handling the inherent conflicts between prudential regulation and consumer protection, strengthening the coordination between macro-prudential and micro-prudential supervision, and improving the institutional mechanism of financial consumer protection.