The History And Development Of The Theory Of The Financial Supervision And The System Of The Financial Supervision In The USA

This paper looks into the history and development of the theory of the financial supervision and the system of the financial supervision in the USA. It shows that the modern theory of the financial supervision, beginning with emphasis on the financial safety followed by on efficiency, has developed the thought that safety and efficiency are of the same importance, which is now universally accepted in the world. In three periods of development the system of the financial supervision in the USA has experienced the way of no supervision-supervision—strict supervision—loose supervision—perfect supervision. Either separated or uniform way of financial supervision has been practiced. Now, less interference as well as perfect supervision has been established as the principle of supervision. Mixed businesses of finance and uniform financial supervision in some degree has become the tendency all of the world. The umbrella supervision is developed in the USA, which thoroughly ended up separated supervision in relation to the separated business of banking, securities and insurance. All these, the author believes, can be helpful to the financial supervision of our country.This paper is composed of four chapters:Chapter 1 introduces the background and purpose of this research and explains the important definition in this paper.Chapter 2 draws the theoretical outline of financial supervision, including the fundamental base and development of the theory of financial supervision.Chapter 3 is mainly about the development of the financial supervision system in the USA. It emphasizes the background, contents and influence of the financial supervision system in each stage of reform.Chapter 4 discusses what we can learn from the changes of the financial supervision system in the USA.