问题银行的判断与破产早期干预机制

Recognition of Troubled Banks and Early Intervention Mechanism of Bankruptcy

由于银行具有很突出的外部性特点,破产的外部负效应明显大于普通工商企业,尤其是大型银行破产会带来金融系统的连锁反应,进而波及经济社会各个领域,引发系统性风险甚至经济危机。经济学上的逻辑推理与经济发展史上的大量案例,都可以佐证上述判断。从实践来看,当银行面临技术层面或经济意义上的破产风险时,政府往往会不惜成本采取注资、再贷款、信用担保、购买资产等救助手段,不会动辄实施破产清算。另一方面,政府救助预期形成的银行"大而不倒"的道德风险,以及纳税人为商业银行过度风险行为负责也被广为诟病。为有效平衡银行破产的风险和成本,应着眼于提升银行体系整体竞争力和金融市场运行效率,通过完善银行破产立法、实施前瞻性的宏观审慎监管、改进"坏银行"救助手段和措施、优化银行微观层面治理,建立防范银行破产风险的多道防线,对银行破产风险进行层层拦截和有效缓释,将残余风险控制在可承受范围内。从国际实践看,金融危机之后一套以预警和前瞻性管理为核心的"坏银行"预防、化解和有序退出的银行破产风险治理框架已初现雏形。完善银行破产风险治理和金融风险基础设施,既是当下中国金融改革的题中之意,也是下一步推进金融市场化改革的压舱石。

Due to prominent externality of commercial banks, the negative external effect of the banks＇ bankruptcy is significantly greater than that of other non - banking enterprises. Particularly the failure of large-scale banks would bring on chain reaction of entire financial system, resulting in some systematic risk, and even severe economic crisis. In the circumstance that a bank is confronting risks leading to technical or economical bankruptcy, actual bankruptcy and liquidation would hardly be carried out, instead the government would bail out the bank regardless of cost by the means of fund injecting, re-lending, credit guaranteeing or asset purchasing. On the other hand, it is widely criticized that the moral hazard is induced by bailing out ＂too big to fail＂ banks and taxpayers are forced to bear financial cost of saving the banks taking excessive risks. In order to effectively balance of risk and return during bankruptcy processing, comprehensive competency of banking system and efficiency of financial market should be paid more attention to enhance, and a multi-line defense mechanism preventing banks from failures should be established by strengthening the legislation to regulating bank failures, carrying out macro-prudential regulations in a forward-looking fashion, optimizing ＂troubled banks＂ resorting tools, and improving banking governance in the micro management level. This mechanism would be so designed for the residual risks to be restricted within a tolerant range through various means of risk controlling and mitiga- ting. Recent international banking practice since the financial crisis in 2008 has shown that a risk management framework avoiding banks from failures by risk preventing, risk mitigating, and orderly exiting in a pre-caution- ary and forward - looking fashion has come to the fore. The enhancement of bankruptcy risk governance and fundamental financial risk managements is a critical issue for financial reform in China as well as a pedestal further boosting the financial market -oriented movements.