论金融机构的生前遗嘱制度及其对我国的启示

The Living Wills of Financial Institutions and Its Enlightenment to China

2008年世界性金融危机的爆发,凸显了大型金融机构道德风险带来的严重危害。针对这个问题,国际性的金融监管组织和西方各主要国家相继推出了生前遗嘱制度来解决这个棘手的问题。作为一个舶来品,一个从民法领域借鉴过来的概念,特别是作为一种初创的制度安排,生前遗嘱制度尚有种种缺陷和不足,对于其存在的合理性目前也褒贬不一。在对生前遗嘱制度的概念、来源和内容分析的基础上,对生前遗嘱制度进行评判,认为生前遗嘱制度虽然在操作成本、信息保密、跨境合作机制、风险预测等方面存在不足,但是这些都可以通过技术操作加以解决,更重要的是生前遗嘱制度可以使得系统重要性金融机构不断审视自身的缺点、增加其面临危机时的主动性、缓解其面临危机时的压力、防范道德风险的产生、降低金融系统性风险等。在此基础上,最终得出我国生前遗嘱制度构建方面的启示。

After the global economic crisis in 2008 ,the severely harms caused by the SIFIs ’ moral hazards ap-peared.Many international financial regulators and important countries produced the living wills to deal with the in -tractable issues.As an exotic and a concept referenced from the civil law , and especially as an initial system ar-rangement ,the living will has many defects .As the reasons listed above , different people take various views to the living wills.Basing on the analysis of the concept , the origins and the contents of the living wills , the auttor pass judgments on the living wills carefully .Though the living wills has some defects in some aspects , such as operational costs, information privacy,the cross-border cooperation mechanisms , risk prediction and so on ,these defects can be solved by our efforts , More importantly , the living wills can force the SIFIs to look at their shortcomings ,increase initiative when facing the crisis , prevent the occurrence of the moral hazards ,and reduce the systemic risks .On the basis of the analyses listed above ,we draw some lessons in structuring our system about living wills at last .