| 英文摘要 |
Besides direct finance and indirect finance, there still one concept— Shadow Banking System, between these two financial systems. It is thought one of the reasons of the Subprime Mortgage Crisis in 2007, and it also has gradually increased its scale in recent years. Besides, Shadow Banking as one of the special systems between the financial systems, it has been much less regulated compared to the other financial intermediaries. However, since it still equips some extent of the credit intermediary functions of the traditional banks, if it still keeps lower regulation, the systemic risk of its activities may become a significant problem like the Financial Crisis in 2008. Moreover, because of the gradually development of the Shadow Banking System in recent decade, it has a solid status in the financial system nowadays. Thus, how to balance and stabilize the order of the financial market and the facilitation of the market activities, becomes the main point of this article.
In The 2009 G20 London Summit, it focused on the topic of the global economic crisis since 2008. In order to strengthen the financial regulation, one of the acts is to establish Financial Stability Board (FSB). Its major responsibility is to facilitate and control the operation of the financial regulation and cooperate with The Basel Committee on Banking Supervision (BCBS) and International Monetary Fund (IMF) and so on international organizations. Besides, they also set out a clear standard of the definition, scope, and mechanism of the regulation of Shadow Banking, and propose the supervision research every year. In the observation of the comparative laws, after the Financial Crisis in 2008, U.S. government has passed the Dodd–Frank Wall Street Reform and Consumer Protection Act to strictly regulate the development of the market activity. Although the regulation has been loosened by the government of President Trump, its regulation mechanism still has the value for other countries to refer. Moreover, for the reasons of the development of the Shadow Banking System are different from other countries, Shadow Banking has been developed its unique characteristic in China. Besides the Document of No. 107 published by The State Council of the People’s Republic of China, Shadow Banking report published by China Banking and Insurance Regulatory Commission in 2020 is also one of the important methods to realize the policy and the status of the situation of the country.
Therefore, this article starts from here. Firstly, in recognition of the positive functions of Shadow Banking, this article tries to locate it in the financial system. Secondly, in observation of the risk of Shadow Banking, this article tries to refer the regulation between comparative laws and the international organizations. Then, this article tries to find out the insufficiency of the regulation of the country and tries to propose the suggestions of the financial supervision to keep the goal of the financial stability under the prudential supervision. |
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