The Complement Of Legal System Of Commercial Bank Information Disclosure After The Entry Of China Into WTO

Information disclosure of commercial banks means that some major information reflecting the operating status of commercial banks such as financial statement, all sorts of situations of risk management, company operation, annual report of important issues are made known to the public by commercial banks actually, exactly, timely and integrally. The banking information disclosure can help banking investors, depositors and relevant interest individuals to find out and analyze the financial status, risk situations, company operation and other essential issues of the banks and safeguard their legal interests through analyzing and judging the financial status and risk situations of commercial banks. Moreover it also helps the external supervision of commercial banks and promotes commercial banks to improve company operation, to strengthen inner control mechanism and to enhance the operating level and outcome. Information disclosure is in favor of safe and stable operation of banks and is efficient complement of bank supervision .Legal system information disclosure of commercial banks is of important legal values, including guaranteeing transaction security, maintaining all parties' equality, realizing operation benefit, indicating decrease of risks and enhancing supervision efficiency, for all transaction parties and the whole financial order. Its establishment and improvement is significant for the healthy and orderly development of financial market.After the entry of China into WTO, the changes of our commercial banks' operation situations, the increase of operation risks and the challenges of foreign financial institutes will spur the legislation requirements of social public for operation information disclosure of commercial banks dramatically. It is urgent and realistic to perfect legal system of information disclosure of commercial banks of our country. Consequently the People's Bank of China issues temporary act of information disclosure of commercial banks in May 21, 2002, which signifies that information disclosure of commercial banks in our country was advanced to a new level. However, this system still has much shortcoming and needs improving. This thesis aims to study the theoretical basis and the current situation of legal system information disclosure of commercial banks and learn from relevant stipulations of Basel agreements and legislation and execution experience of America, New Zealand, Singapore and Hong Kong so as to release financial risks and maintain the healthy and orderly operation of our financial market.