TLAC规则实施的日本镜鉴

Practice of TLAC Rules in Japan

随着中国TLAC规则落地实施的日益临近,研究、分析、借鉴发达经济体实施经验尤为重要。本文对日本TLAC实施情况进行了研究,重点分析了日本TLAC规则和制度框架、日本全球系统重要性银行TLAC债券发行和定价情况,并总结了对我国的若干启示。

As the implementation of China's TLAC(total loss-absorbing capacity)rules approaches,it is important to analyze the experience of developed economies.This paper examines the implementation of Japan's TLAC system,focusing on that country's TLAC rules and institutional framework as well as the issuance and pricing of TLAC bonds of Japan's global systemically important banks.It also discusses how this experience might be applied to China.