The Study On Legal Supervision Of Systemically Important Financial Institutions

The concept of the systemically important financial institutions is actually an extension of the problem of’too big to fail’. In2008, the U.S. broken out financial crisis and then triggered global financial in disorder. The harm was great. So the national financial regulation authorities realize that we must strengthen financial supervision, and put forward the conception of systemically important financial institutions based on the too big to fail financial institutions. According to the definition of the financial stability board, systemically important financial institutions is:due to the size, complexity and system correlation, the financial institutions will bring widely damage to financial system and economic activity due to serious interference of the disorderly bankruptcy. Subsequent years, international regulation organization carried out and constantly updated systemically important financial institutions’evaluation standard and evaluation index. At the same time, it pointed out that a completely regulation of systemically important financial institutions should include macro prudential supervision before and effective resolution regime after. So the paper, on the basis of close attention to the international regulation, thoroughly discussed the regulation of systemically important financial institutions.As the concept of systemically important financial institutions was coming out, which both at home and abroad caused a huge response. The paper in the first part mainly tracks the international regulation’s dynamic state, SIFIs’developmental course and regulation reform action from country to country. The second part of this paper generalizes the theory part of systemically important financial institutions, specifically puts forward the necessity of SIFIs’regulation, such as systemic risk, financial institutions’ negative externalities, and moral hazard, so as to provide theoretical support for the macro-prudential regulation of systemically important financial institutions and effective resolution regime. The third part mainly probes into the macro-prudential regulation of systemically important financial institutions. It points that previous financial regulation focused on the micro-prudential supervision overly and ignored the macro control in overall. So this part, based on the analysis of the micro-prudential supervision and macro-prudential supervision, puts forward the importance of macro-prudential regulation. The fourth part emphasizes the SIFIs’effective resolution regime. It mainly analysis the resolution authorities, resolution powers, resolvability assessments and recovery and resolution planning, and ensure perfect effective resolution regime. Finally, the article, compared with the present regulation situation and the achievements at home and abroad, put forward China’s supervision problems and regulation advice of SIFIs.