系统重要性金融机构国际监管的发展与趋势

摘要

系统重要性金融机构是指那些由于规模、复杂性和系统关联性，其陷入危机或无序倒闭将使更大范围内的金融系统和经济活动受到严重扰乱的金融机构。对系统重要性金融机构进行有效监管是全球金融危机以来国际金融监管改革工作的重要组成部分。金融稳定理事会联合其他相关国际金融组织制定的一系列文件奠定了系统重要性金融机构国际监管的基础，其基本内容可以概括为确立认定标准和评估方法、提高监管强度和有效性以及建立和实施适当处置机制这三个方面。迄今为止的监管工作采取了由国际到国内、由银行到非银行金融机构的渐进式思路，目前正在向更为多样化和复杂化的方向发展。%Systemical y Important Financial Institutions ( SIFIs ) refer to those financial institutions whose distress or disorderly failure, because of their size, complexity and systemic interconnectedness, would cause significant disrup-tion to the wider financial system and economic activity.The regulation of SIFIs is an integral part of the international regulatory reform ever since the global finan-cial crisis.The series of documents adopted by the Financial Stability Board in conjunction with other relevant international standard setting bodies have laid the foundation for the international regulation of SIFIs.The contents of such docu-ments can be summarized as establishing the identification criteria and appraisal approaches of SIFIs, increasing the regulatory intensity and effectiveness, and es-tablishing and implementing proper resolution regimes.The regulatory work to date has taken a gradual approach, i.e., from international to domestic, and from banks to non-bank financial institutions, and is becoming more diversified and complicated.