Research On The Legal System Of Information Disclosure Of Chinese Commercial Banks

Finance is the core of modern economy. Due to the dominant positionof the banking industry in China’s financial system, its sustainable andstable operation has played an irreplaceable role in the long-termdevelopment of China’s economy. How to supervise banks effectively tomake sure the sustainable and stable operation of banking industry is aworth-while issue for us to discuss. The outbreak of the Asian financialcrisis in1997made the international banking industry generally agree withthe need to strengthen the banking transparency. The internationalConvergence of Capital Measurement of Capital Standards has establishedthe third pillar of the bank’s capital adequacy regulation, which required themarket constraints. Since then, information disclosure of bankingsupervision has been heightened unprecedentedly. Supervision on theinformation disclosure of Commercial Banks could protect the legitimateinterests of the stakeholders, control the risk of banks’ business andpromote the financial markets’ safety and efficiency. Under the influence ofthe Basel Committee, many countries and regions have established a fairlymature commercial banks’ information disclosure system. Bankingsupervision in China started relatively late, however, after years of exploration, China has basically established a commercial banks’information disclosure system,but the system remains to be furtherimproved.. In this paper, the author thinks on optimizing the existing legalsystem of information disclosure of Chinese commercial banks on the basisof summary the advanced experience of foreign countries and theComparative Study of Chinese and foreign commercial bank informationdisclosure system.This paper includes a preface, a body, and a conclusion, the body isdivided into four chapters.Chapter I, the theoretical basis for the information disclosure ofcommercial banks. Firstly, defining of some core concepts. Then,respectively analysis of economics and law theoretical basis forinformation disclosure of commercial banks. In the economics, theAsymmetric information theory and the Regulated market theory areincluded. In the law, the Substantive justice of economic law and the rightto know are discussed.Chapter II, a Comparative Study of commercial bank informationdisclosure system. Firstly, reviewed the regulatory process of the mostauthoritative in the international regulation of banking sector, the BaselCommittee on Information Disclosure. Secondly, introduced a system ofinformation disclosure regulation in the United States, Germany, HongKong of China. Finally, revealed some thoughts for ourcountry from thecomparative study.Chapter III, Evolution and Current Status of the Legal System ofInformation Disclosure of Chinese Commercial Banks. Firstly, reviewedthe history of the information disclosure system of Chinese commercialbanks. Then,analyzed the current bank information disclosure laws andregulations. Finally, analyzed the lack of information disclosure system ofChinese commercial banks.ChapterⅣ, thinking on the improvement for the Legal System ofInformation Disclosure of Chinese Commercial Banks. The author believesthat our aspects are to be improved. First of all, it should be appropriate toraise the legislative level and improve the law and regulations on the entity,procedures and liabilities. Secondly, to strengthen corporate governance and internal control systems of commercial banks, Again, to build aneffective coordination mechanisms and effective regulatory mechanism.Finally, to build a strong external security system for the informationdisclosure of commercial banks.