论美国联邦存款保险公司的功能和作用--以2008年金融危机前后的政策转换为中心

On The Functions and Effects of FDIC in the U.S. ——Centered on the Transition of Policies before and after the 2008Financial Crisis

本文基于风险特征的变化对2008年金融危机进行了阶段划分,进而考察了美国联邦存款保险公司政策的阶段性变化。研究表明,联邦存款保险公司不能预测和防范系统性危机。在日常监管中其政策具有顺周期性及内部滞后性,在危机及其之后,只有在相关政策配合下才能凭借专业优势发挥救助平台作用。本文对我国存款保险制度的建立和更加广泛的金融政策选择具有重要的参考意义。

The thesisdivides the 2008 financial crisis into stages based on the transformation of the characteristics of the risks, and researches on the transition of FDIC policies through different stages. The research shows that FDIC could not predict and prevent systematic risk. In the regular supervision, FDIC policies are pro-cyclical and inner-lagged. During the post-crisis period, FDIC could only play the bailout role by cooperation with other related policies. The thesis makes important referential contribution to the foundation of the deposit insurance scheme and choice of broader financial policies of our country.