欧盟金融机构处置机制对我国的启示

Reflection of EU Banking Resolution Regime on China

健全问题金融机构的处置机构和处置机制是完善金融风险防控体系的重要内容。与市场化、法治化的有序处置机制相比,我国在法律基础、处置主体、处置流程等方面还存在较大差距。自金融危机以来,欧盟以金融稳定理事会《金融机构有效处置机制核心要素》为基础,制定了《银行业恢复和处置指令》和《单一处置机制法案》,建立了单一处置委员会和单一处置基金,明确了恢复与处置体系的流程,建立了有序的机构处置体系。借鉴欧盟金融机构处置经验,针对我国目前金融机构处置中存在的问题,本文提出了应以存款保险制度为核心建立有序处置机制,将风险处置措施与司法破产程序相结合,明确存款保险机构作为处置当局,赋予存款保险机构有效的处置工具,设立触发指标和具体定量标准,明确“非纠正即接管”。

To build and improve resolution institution and resolution regime is the essential component of financial risk prevetion system.Compared with an orderly market-oriented resolution scheme on a legal basis,China still lags behind in terms of legal basis,resolution institution,and resolution process.After financial crisis,based on FSB Key Attributes of Effective Resolution Regime,EU released Banking Recovery and Resolution Direc-tive(BRRD)and Single Resolution Mechanism Regulation(SRMD),set up Single Resolution Board(SRB)and Single Resolution Fund(SRF),and specified recovery and resolution process,with an orderly resolution regime in place.The paper argues that in order to build China’s orderly resolution regime,we should center on credit insurance regime,combine risk resolution and legal bankcrupcy,specify credit insurance institution as resolution institution with effective resolution tools and trigger indicator and quantitative criteria.