Research On European Union’s Bank Recovery And Resolution System To Address Systemic Risk

After the subprime mortgage crisis,the prevention of systemic risks has become an important goal of financial market regulation in various countries.Systemic risks may shake the confidence of market participants and cause panic,causing the market to become chaotic and eventually lead to a decline in the national economy.The increasing complexity of systemic risks has led governments to maintain national financial stability as the core of national economic security.The stability of the banking industry is conducive to the prevention of cross-infection among various market players caused by systemic risks.Bank recovery and resolution systems play an irreplaceable role in dealing with systemic risks.After experiencing the subprime crisis and the sovereign debt crisis,the EU reformed the original legal system,bridging the legislative differences among member states,based on deposit guarantee mechanism,single supervision mechanism and single resolution mechanism.Established the banking union Among them,the bank recovery and resolution system is an important part of the unified resolution mechanism.The "Bank Recovery and Resolution Directive" issued by the EU is the legal basis of the system.Member states passed legislation to translate the directive into domestic law,which enabled the bank recovery and resolution system to take root in all countries.In contrast to China’s laws,most of the regulations on the withdrawal system of the banking market remain at the principle level,and lack of systematicity,so that administrative power often interferes excessively with the market exit of banks.This paper hopes to systematically study the EU bank recovery and resolution system and its implementation in response to systemic risks,provide an extraterritorial reference for China’s bank emergency response system,and limit the intervention of administrative power on China’s banking market exit.This article is divided into five parts.The first chapter is the introduction of the problem,summarizing the problems existing in China’s banking market exit system and the possibilities of referring to the EU system.The second chapter briefly reviews the development process of EU banks,points out the challenges of the subprime mortgage crisis to the original banking governance of the EU and introduces specific reform measures of the EU in the post-crisis era.At the same time,the legal sources and basic concepts of the EU bank recovery and resolution system are clarified.The third chapter studies the important issues in the recovery and resolution system of EU banks.The first section of this chapter mainly introduces the definition of systemically important banks,and the second section mainly focuses on the disposal agencies(regulatory authorities and clearing organs).The third section discusses the main treatment methods:early intervention,self-rescue mechanism and other rescue mechanism.The fourth section summarizes the important legal principles involved in the system.The fourth chapter mainly discusses the reference significance of EU bank recovery and resolution system to China.Focusing on the identification of systemically important banks,the intervention boundary of market entities,the maintenance of public resources,and the accountability mechanism for disposal organs,this paper provides a reference for the establishment of a systematic banking market exit mechanism and the restriction of administrative power intervention.