金融债委会的现实需求及理论基础问题研究

Research on the Realistic Demand and Theoretical Basis of the Financial Debt Committee

在处置金融风险过程中,各家银行为最大程度保全资产,对出险企业能够变现的稀缺资产有着共同需求,进而引发银行间个体理性演变成集体非理性,银企之间的多个双边信贷契约成为一个复杂的多边契约,原本简单的双边交易演化成复杂的多边交易,整个风险处置工作无序低效,且具有极强杀伤力。金融债委会作为一种由金融监管部门推动、金融机构自愿参加的自治性机制安排,顺应风险处置中实际的多边契约交易需求,通过促进银行间的合作与协作,构建一个全新、多边的共同治理秩序,最大限度地保护企业资源,同步降低信贷风险。

In order to fully preserve assets,banks have a shared demand for scarce assets that can be hedged through insurance,which in turn leads to the unreasonable temptation of collective rationality.Invisibly,bilateral credit contracts between banks and enterprises have been wrapped up into a complex multilateral contract.The original,simple bilateral transactions have evolved into a complex,multilateral transaction.The risk disposal work is disorderly,inefficient and lethal.As an autonomous arrangement promoted by the financial regulatory authorities and voluntarily participated by financial institutions,the Financial Debt Committee has responded to the actual multilateral contract transaction needs of risk disposal.Through promoting cooperation among banks,the FDC builds a new and multilateral common governance framework so as to maximize the protection of corporate resources and reduce the degree of credit risk simultaneously.