International Financial Supervision In Financial Crisis

Driven by the trend of economic integration, financial globalization is developing rapidly. The global allocation of capital promotes the development of ecomony and brings improvements of the economic management to the developed and developing countries. In this context, most countries and regions promote the reform of financial supervision system actively in order to maximize the enjoyment of financial opening, financial innovation, at the same time, to reduce the financial risks, and the global financial crisis triggered by the United States subprime mortgage crisis sounded the alarm. Studying the establishment and perfection of the international financial supervision system and strengthening the international cooperation to prevent and defuse the financial risks effectively should be the focus of our financial regulatory law, which is the practical significance of this thesis.Financial supervision, legislation, supervision basics, principles and legal system, and the meaning of the international financial crisis were analyzed in the first chapter of this paper. The second chapter described the values of financial supervision legislation, analyzed the objectives of financial regulation from safety and efficiency points, and summed up the conflict and coordination of financial security and financial efficiency under the background of financial crisis. The third chapter describes the financial supervision model, including the classification of financial supervision model, the choice of the world's financial supervisory model and the impact of financial crisis to national financial supervisory model and their reform. Chapter four introduced the international law norms for international financial regulation, which is also the core of this paper. This chapter first analyzed the necessary for international cooperation in financial supervision, as well as the cooperation work of international financial supervision among Basel Committee, International Organization of Securities Commission, the International Association of Insurance Supervisors, International Monetary Fund. Chapter five describes the legal system in China's financial supervision, makes recommendations on China's reform of the financial supervision system after the financial crisis on the base of analying the existing financial supervision model in China.