The International Value Orientation Of Resolution Regimes For Financial Institutions After Global Financial Crisis

The resolution regimes for financial institutions became the focus of the financial legislation reform after Global Financial Crisis(GFC)in 2008.China is deepening the reform of resolution regimes for financial institutions and committing to connecting with the international community.Because of the differences of national condition,we can't use extraterritorial and international legislation to reform directly,so we have better to mining the value orientation of extraterritorial and international resolution regimes for financial institutions,which reflects its'nature,use value orientation to connect extraterritorial and international resolution regimes and China's resolution regimes,promote the advanced resolution regimes to localization.This paper analysis the changes of resolution regimes for financial institutions after GFC and mining the value orientation,according to the shortcomings of the resolution regimes in China,use value orientation to guide the resolution regimes for financial institutions in China.This paper shows that In the background of calls for marketization mechanism fierce,doing not deny the necessity of state intervention,emphasizing the effectiveness and disposal cost are the new value orientations of emerging after GFC.From points of view,firstly,it is necessary to make a standard for state intervention,and to establish supervision and restraint mechanism.Secondly,prepare with the disposal resources,provide guidance on the domestic framework of "living wills" and establish a single crisis management fund.Thirdly,encourage to use marketization mechanism,respect the basic rules of marketization mechanism,diversify the tools,and foster financial institutions equity and markets for asset resolution.