危机银行恢复和处置机制建设——基于对近期欧美银行风险事件的分析

Recovery and Resolution Mechanisms in China's Banking System-An Analysis of Recent Bank Failures in Europe and the United States

针对2008年国际金融危机暴露出的“大而不能倒”问题,二十国集团从2009年开始构建金融稳定机制框架,要求系统重要性银行制订恢复和处置计划以提高风险可处置性,防范和控制“大而不能倒”所引发的负外部性和道德风险。2022年,随着宽松周期切换,欧美步入加息周期,至2023年初,瑞士信贷、硅谷银行和第一共和银行等在宽松周期中采取激进投资策略的银行,因流动性危机等多重压力宣告破产或被收购。近年来,随着经济增速下行、外部风险挑战增多,我国银行业面临的内外部风险愈加显现。目前国家建设金融稳定保障体系已卓有成效,但在完善金融稳定保障体系及加强危机银行恢复和处置机制建设的过程中,仍存在法律法规体系不完善、全流程监管需加强、恢复和处置资源工具待补充等短板。因此,本文通过梳理硅谷银行、瑞士信贷风险处置过程存在的问题,分析其在面临危机时采取恢复和处置措施的时效性和有效性,并结合中国金融稳定机制建设、系统重要性银行监管和银行业自身情况,针对我国危机银行恢复和处置机制的短板提出政策建议,以期完善具有中国特色的危机银行恢复和处置机制,有效防范区域性、系统性金融风险。

In response to the"too big to fail"dilemma exposed by the 2008 international financial crisis,the Group of 20(G20)began to build a framework for a financial stability mechanism in 2009.It required systemically important banks to formulate a recovery and resolution plan to improve their ability to manage risk and respond to negative external events and moral hazard from the"too big to fail"dilemma.In 2022,Europe and the US shifted from a prolonged period of easier interest rates to a cycle of rapid rate hikes.By early 2023,banks with aggressive investment strategies during the easing cycle,such as Credit Suisse,Silicon Valley Bank and First Republic Bank,declared bankruptcy or were acquired after experiencing multiple pressures,including a liquidity crisis.In recent years,both internal and external risks faced by China's banking sector have become more apparent as economic growth has declined and external risk challenges have increased.At present,the national construction of the financial stability guarantee system has had remarkable achievements,but deficiencies still exist in the process of improving the financial stability guarantee system and strengthening the bank recovery and resolution mechanism.These deficiencies include an imperfect system of relevent laws and regulations,insufficient financial supervision,and a shortage of resources and tools for use during the recovery and resolution process.This paper reflects on the problems in the recovery and resolution process of Silicon Valley Bank and Credit Suisse,analyzes the timeliness and effectiveness of the recovery and resolution measures taken in the face of crises,and combines the construction of China's financial stability mechanism,the supervision of systemically important banks and the actual conditions of the banking industry.It also puts forward policy recommendations on the shortcomings of the recovery and resolution mechanism for China's crisis-hit banks.The objective is to perfect this recovery and resolution mechanism with Chinese characteristics and effectively guard against regional and systemic financial risks.