Investigation On The System Of The Lender Of Last Resort In Mixed Operation

Financial security and stability is the basis of economic development, it’s also the connection between mixed operation and the lender of last resort. After several choices, the global financial industry prefers to select the path of mixed operation finally. Financial holding company model of America and Britain is driving the domestic financial industry to achieve rapid and efficient development.So do comprehensive bank model of Germany. However, China’s financial industry is in a special period that financial separate system has become a obstruction for further development. So it’s an inevitable trend of financial system reform to implement mixed operation instead of traditional separate system. Though new financial system has the advantages of providing more comprehensive financial services, crossing fusion more frequently of financial business result in becoming indistinction of boundary among financial industry. Moral hazard is in the danger of an eruption, salvage system is abused seriously, stable situation is at a risk. Reflection and definition should be required for the system of the lender of last resort in mixed operation. We have reasons to believe that the system of the lender of last resort will be perfect and financial safety net will be firm.The text is divided into four chapters. The first chapter is the part of theory foreshadowing that introducing and comparing the different models of mixed operation and elaborating the evolution process of the theory of the lender of last resort.The second chapter is the part for foreign theory. It introduces the development and mode choice of foreign mixed operation, the development and practice of the lender of last resort in foreign countries.Then it analyses the relationship between mixed operation and the lender of last resort in foreign. Some theories could become reference for China.The third chapter is the core of the text. Figuring out the relationship between mixed operation and the lender of last resort in China. Exploring the influence of mixed operation on the lender of last resort in China from three aspects, including salvage subject, salvage object and salvage conditions. Position and function of Central Bank is occurring subtle changes, the scope of system crisis in financial field is breaking through original field gradually as well, vague conditions of salvage is vulnerable to the threat of moral hazard. The fourth chapter is the part for perfecting the system. Establishing and improving the basic market conditions and related systems, then putting forward a new conception of the system of the lender of last resort in China.