Systemically Important Financial Institutions’ International Regulatory Progress And Revelation To China

Systemically important financial institutions (SIFIs) are not only the mainmakers of2008financial crisis, but also the victims of the crisis. The outbreak of thecrisis profoundly affected the global financial development pattern and the globaleconomy. Since the crisis, the regulation of systemically important financialinstitutions became a hot issue of the international community. On the one hand theeconomic recession, rising unemployment, social unrest and even regime changecomes, on the other hand, the crisis often sounded the alarm for the current financialregulatory system, financial regulatory policy makers and lawmakers. Thusstrengthening the supervision of systemically important financial institutions in thepost-crisis era becomes necessary and urgent.After the crisis, the Financial Stability Board, G20, IMF, the Basel Committeeand other international organizations have issued a series of reports and documents,provide a basis for the supervision of systemically important financial institutions. Inaddition, other countries also recognize that micro-regulation is not sufficient toresist the systemic risk in the financial system, a number of programs have beenintroduced to cope with the global regulation of systemically risk, and forsystemically important financial institutions is one of the core content of theseregulatory reforms; While the supervision of systemically important financialinstitutions is one of the core content of these reforms. Broadly speaking；To avoidsystemic risk, maintaining the stability of financial markets, these countries andareas started from the, capital, information disclosure, risk treatment framework, tostrengthen the importance of the financial system regulatory agencies.So far under the background of economic globalization and our county’s financial deepening reform, It is foreseeable that in addition to the Bank of China thenumber of our county’s finalists turn to global systemically important financialinstitutions will continue to increase in the future, Our regulatory authorities willface greater regulatory pressure. Therefore in the face of opportunities andchallenges we should fully aware of our own shortcomings in financial markets,actively participate in international regulatory cooperation, learn from advancedinternational regulatory experience, strengthen the supervision of systemicallyimportant financial institutions，n order to ensure the stability and development ofdomestic financial markets and global financial markets.