银行合业经营制度“内在不稳定性”的演变——分析美国商业银行经营制度的变迁

The Evolvement of Internal Instability of Universal Banking System

现在看来 ,始于 1 933年的美国银行分业经营制度给美国的银行业乃至整个经济带来了一系列的麻烦 :银行国际竞争力的下降 ;银行风险的恶化 ;银行与企业的关系变得疏远 ;证券发行市场缺乏竞争力等等。而合业经营制度却具有先天的“内在不稳定性” :易诱发“利益冲突”和“内部交易”。出路何在 ?1 999年《金融服务现代化法案》的诞生预示着美国恪守了半个多世纪的银行分业经营制度的终结。同时也告诉我们合业经营制度的“内在不稳定性”在现代的条件下会发生“蜕化”。

It is proved that segregating banking system introduced in 1993 in the United States had brought a series of problems to the American banking industry and even to the whole economy.Such as:decreasing of bank′s competitive ability in the world,deteriorating of bank′s risk,estranging firms from banks ad weakening the competitive ability of primary stock market.However,the universal banking system has also its congenital “internal instability”which could lead to conflicts of interest and“inside trading”.Modern Financial Service Acts of the United States indicated that the segregation of banking system had been ended up and the internal instability of universal banking system will be evolved in the current situation.