A Research On Deposit Insurance System In Korea

Deposit insurance system is an important means to stabilize the financial market.It was first produced in the United States in 1930 s.At present,145 countries or regions have established deposit insurance system in the world.In terms of the form of investment,the deposit insurance system mainly includes three forms: government led by the United States and South Korea,jointly run by the government and the people represented by Japan,and privately run by the people represented by Germany.Under the background of shifting economic growth,promoting market interest rate and building financial safety net,the regulations on deposit insurance issued in March 2015 marks that China's deposit insurance system,together with the central bank's lender of last resort and prudential supervision system,has become the three core pillars of the national financial safety net.At present,China's deposit insurance system has only been formally established for more than five years,which is in the initial stage of operation.We need to learn from the advanced experience of other countries in the construction of deposit insurance system.South Korea and China are both high savings rate countries.South Korea introduced the depositor protection law in 1995,and established the Korean deposit insurance company in 1996.Its deposit insurance system has experienced many times since its establishment It has rich practical experience in the financial crisis.Therefore,a systematic study of the evolution process,content,operation mechanism,characteristics,effectiveness and existing problems of the deposit insurance system in South Korea is conducive to enriching China's in-depth and systematic study of the theory of the deposit insurance system in South Korea.In practice,it can provide a detailed benchmarking for the optimization and improvement of the deposit insurance system in China,and draw on the experience of the deposit insurance system in South Korea The experience and lessons will help China build a stable and orderly market-oriented exit mechanism for problem banks,stabilize the financial order,and ensure the steady and healthy development of the national economy.Deposit insurance system is an important means to stabilize the financial market.It was first produced in the United States in 1930 s.At present,145 countries or regions have established deposit insurance system in the world.In terms of the form of investment,the deposit insurance system mainly includes three forms: government led by the United States and South Korea,jointly run by the government and the people represented by Japan,and privately run by the people represented by Germany.Under the background of shifting economic growth,promoting market interest rate and building financial safety net,the regulations on deposit insurance issued in March 2015 marks that China's deposit insurance system,together with the central bank's lender of last resort and prudential supervision system,has become the three core pillars of the national financial safety net.At present,China's deposit insurance system has only been formally established for more than five years,which is in the initial stage of operation.We need to learn from the advanced experience of other countries in the construction of deposit insurance system.South Korea and China are both high savings rate countries.South Korea introduced the depositor protection law in 1995,and established the Korean deposit insurance company in 1996.Its deposit insurance system has experienced many times since its establishment It has rich practical experience in the financial crisis.Therefore,a systematic study of the evolution process,content,operation mechanism,characteristics,effectiveness and existing problems of the deposit insurance system in South Korea is conducive to enriching China's in-depth and systematic study of the theory of the deposit insurance system in South Korea.In practice,it can provide a detailed benchmarking for the optimization and improvement of the deposit insurance system in China,and draw on the experience of the deposit insurance system in South Korea The experience and lessons will help China build a stable and orderly market-oriented exit mechanism for problem banks,stabilize the financial order,and ensure the steady and healthy development of the national economy.Finally,in view of the inevitability,current situation and problems of the establishment of China's deposit insurance system,this paper summarizes the advanced experience of South Korea's deposit insurance system,and provides enlightenment for China to optimize and perfect the deposit insurance system.China should draw on the practical experience that South Korea's deposit insurance system pays attention to top-level design,legal system improvement,deposit insurance institutions with complete functions,higher authorities,exchanges and cooperation,and a wide range of guarantees.Through strengthening internal and external exchanges and cooperation,improving the legal effect and improving the legal system,clarifying the starting mechanism of bank handling of deposit insurance problems,and strengthening the publicity of deposit insurance system To improve the construction of China's deposit insurance system,we should appropriately adjust the protection scope of the deposit insurance system,appropriately adjust the deposit insurance premium rate,innovate the deposit insurance monitoring mode to strengthen the operation mechanism of the deposit insurance,and strengthen the deposit insurance by setting up an independent deposit insurance operation institution,improving the financing channel of the deposit insurance fund,and giving the deposit insurance institution greater regulatory authority Insurance system.