Study On The Problems And Optimized Countermeasures Of Financial Supervision Of BRICS

Since BRICS appeared in public, it has been paid much attention around the world. It has made tremendous achievements in the past development. As the establishment of Development of BRICS, BRICS's financial cooperation has been deepened further. Nowadays, with globalized finance, to maintain financial stability, prevent system risk and promote the development and cooperation among BRICS, to perfect its financial supervision becomes increasingly important. Therefore, this paper studies BRICS's financial supervision and provides corresponding countermeasures, which has a positive effect on the improvement of BRICS's financial supervision.By comparative analysis, principal component analysis and factor analysis, this paper reviews the practice of BRICS's financial supervision and analyzes its problems. Then, this paper establishes comprehensive evaluation system of financial supervision by principal component analysis and compares the effectiveness of BRICS's financial supervision. And it analyzes the reason why their effectiveness are not enough by factor analysis. In addition, this paper studies EU's financial supervision to provide reference for the solution of BRICS's financial supervision problems.Through the study on BRICS's financial supervision problems, this paper gets a series of conclusions, which show that the effectiveness of BRICS's financial supervision is not enough from overall respect, the supervision cooperation remains at a lower level, its cooperation system is not perfect enough and its discourse power in international stage is also not enough. At the same time, the member states of BRICS have the problems such as backward supervision concept, conflicting macro and micro prudence target, defected supervision model etc. Against these problems, this paper gives corresponding suggestions based on the experience of EU's financial supervision. To name just a few: turn to rule supervision concept, coordinate the relationship between macro-prudence and micro-prudence and reform supervision system etc. Meanwhile, the member states of BRICS shall cooperate together to perfect the cooperation system, to promote internationalization of financial supervision and optimize it under the background of financial innovation so that they can improve BRICS's financial supervision level and efficiency.