On The Legal Position Of Deposit Insurance Fund Management Agency In China

On May 24,2019,the deposit insurance fund management limited liability company set up by the People's Bank of China invested 10 billion yuan,marking the establishment of an independent deposit insurance fund management agency in China.Since the establishment of the deposit insurance system in China,no independent deposit insurance fund management agency has been established,and its functions have always been undertaken by the People's Bank of China.The establishment of the deposit insurance fund management limited liability company is a major step forward in China's deposit insurance system.After the establishment of an independent deposit insurance fund management institution,how to determine its legal positioning is related to the smooth and effective implementation of its functions and the realization of the purpose of the deposit insurance system.Therefore,this article will study the current legal positioning of the deposit insurance fund management institutions in China To provide a reference for further improving China's deposit insurance legal system.The current legal status of China's deposit insurance fund management institutions,such as the legal setting and functional model,has caused the following three dilemmas:First,there is a vague legal relationship with the People's Bank of China and the China Banking Insurance Regulatory Commission and unclear functional boundaries.The problem needs to be further clarified.Second,the Deposit Insurance Regulations do not provide operability provisions for the legal attributes and content of early correction rights,which has prevented their early correction functions from being effectively implemented.Third,the three major elements of the financial safety net are not matched at the legislative level,and the legal relationship and the division of functions are vague.As a result,the deposit insurance fund management institution has not yet formed a mutually beneficial and win-win ecosystem with the People's Bank of China and the Banking and Insurance Regulatory Commission chain.By examining the legal positioning of foreign deposit insurance fund management institutions,the legal status of China's deposit insurance fund management institutions should include the following aspects:First,the legal person type of deposit insurance fund management institutions should be positioned as an independent special legal person.Second,the legal relationship with the People's Bank of China should belong to the relationship of supervision and supervision,guidance and guidance,and the functional boundary should be effectively linked to the final lender function,early correction function,and risk disposal function;In terms of classification,the mode of prudential supervision of the Banking and Insurance Regulatory Commission should be adhered to,and the early supervision of the deposit insurance fund management agency should be supplemented.Third,it is necessary to further improve the early risk identification system of deposit insurance fund management institutions for insurance agencies and to clarify the start conditions and specific measures for early correction functions.Fourth,although China's deposit insurance fund management agency enjoys the right of priority subrogation,it is only for personal deposits paid for.The legal positioning of the deposit insurance fund management institution should be considered in combination with various factors such as a country's economic development level,financial system formation model and soundness level,and a legal positioning suitable for the country's national conditions can be selected to give full play to the deposit insurance fund management institution.Functions to build a more secure and stable financial safety net.