论资本充足率指标的监管干预依据与风险预警职能

The Basis for Regulatory Intervention into Capital Adequacy Ratios and the Risk Pre-warning Function

偿付能力充足率指标是金融和保险监管体系中的核心指标,通常被赋予风险预警和实施监管干预行动的依据两种职能。本文提出,正确认识、合理设计并恰当使用这两种职能,对于促进有效监管有积极意义。基于这一理念,本文以保险监管为例,通过将实际案例的剖析与国际监管原理进行对照,揭示上述两种职能之间的辩证关系,进而提出合理设计和恰当使用偿付能力充足率指标的研究建议。

The capital adequacy is a key index in the regulation of banks and insurers, therefore it is often used for triggering off risk pre-warning and regulatory intervention. This paper argued that correct understanding, reasonable design and appropriate application of these two functions were important for the effective supervision. Based on this idea, we revealed the relationship of the two functions through analyzing real cases and studying international regula tion theories, and finally offered our suggestions on reasonable design and application of the capital adequacy ratio.