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Shadow banking regulation in the United States

2018-11-06 来源: 51due教员组 类别: 更多范文

下面为大家整理一篇优秀的assignment代写范文- Shadow banking regulation in the United States,供大家参考学习,这篇论文讨论了美国影子银行的监管。影子银行,指的是在传统银行体系之外,采用非传统信贷融资方式,不受监管或少受监管的信用中介实体或信用中介活动。美国在全球经济和金融体系中占据最重要的地位,其影子银行监管改革将对全球产生重要的实质性影响,世界各国的金融监管制度在很多方面都以美国的做法为参考,有很多美国式监管的烙印,新监管法案将对全球影子银行监管制度产生巨大的影响。

Shadow banking,美国影子银行的监管,assignment代写,作业代写,美国作业代写

The United States in the global economy and financial system is the most important position, its shadow banking regulatory reform will be a important substantial impact on the global, the world's financial regulatory system in many respects to the U.S. approach for reference, there are a lot of American regulation, new regulations will have a significant impact on global shadow banking supervision system.

At present, countries and economic organizations do not have a unified understanding of the scope and measurement of shadow bank, so shadow banking does not have an exact definition. According to relevant literature, the concept of "shadow banking" was first proposed by McMulley, executive director of Pacific, who believed that shadow banking refers to a wide range of financial institutions that are outside the financial regulatory system, also known as "parallel banking institutions". Domestic scholars also have different understandings of the definition of shadow banking. Some domestic scholars believe that the definition of shadow banking should be based on wide scope. For example, yuan dazong believes that shadow banking is an entity and activity outside the traditional banking system, covering all kinds of financial institutions outside the traditional banking system. Some scholars believe that shadow banking does not include all non-bank financial institutions. For example, qin ling believes that shadow banking is a financial system that includes investment Banks, hedge funds, and structured investment vehicles, which can provide liquidity but not take deposits as traditional Banks do.

Although there is no exact definition of shadow banking, scholars have some common definitions of it. First, shadow banking is a non-banking financial institution that performs similar banking functions. Second, shadow banking is unregulated or less regulated. Third, shadow banking credit financing is different from traditional Banks. According to these common features, from the perspective of being able to conduct comprehensive supervision on China's shadow banking, the author thinks that the definition of shadow banking should adopt a broad measure. Therefore, shadow banking refers to the credit intermediary entities or credit intermediary activities that are outside the traditional banking system and adopt non-traditional credit financing methods, which are not regulated by or less regulated by the regulatory authorities.

The first chapter of the bill deals with promoting Financial Stability, creating the Financial Stability Oversight Council, a 15-member panel comprising 10 voting members and five non-voting members. Section 112 of the bill provides the financial stability oversight council with 14 items of authority, including the eighth item, which requires the federal reserve to supervise non-bank financial institutions that may affect the financial stability of the United States. Item 9: recommend the federal reserve to impose stricter supervision standards on non-bank financial institutions and large bank holding companies supervised by the federal reserve; Item 10: identify systemically important financial institutions and regulate them by the federal reserve according to the standards set forth in the bill.

Under section 113 of the dodd-frank act, the financial stability oversight board should consider the factors that should be taken into account when identifying non-bank financial institutions that should be regulated by the fed. According to the regulation of the law, if the financial stability oversight council believes a non-bank financial institution will threaten America's financial stability, financial stability oversight council in won more than two-thirds of the voting power of the majority of cases, it can be the systemically important non-bank financial institutions under the supervision of the federal reserve. The e-h clause of the bill sets out the administrative and judicial relief provisions that regulate non-bank financial institutions. Hearing system: the financial stability supervision committee shall have the right to apply for hearing and answer within 30 days after written notice to the regulated non-bank financial institutions. Judicial review: after the financial stability oversight board makes its final decision, non-bank financial institutions have the right to file lawsuits with local courts or the district of Columbia courts. Such a review is limited to whether the financial oversight council's provisions under this article are arbitrary or arbitrary. Section 114 of the dodd-frank act provides that non-bank financial institutions identified by the financial stability board to be regulated by the federal reserve shall register with the federal reserve 180 days after the final decision is made and disclose the necessary information to the federal reserve. This would fill the gap in regulation of non-bank financial institutions.

The dodd - frank act a ban on Banks' proprietary trading as prescribed in article 619 of the "volcker rule", the clause was named after former fed chairman Paul volcker, its connotation is to limit Banks' proprietary trading and owning hedge funds or private equity fund shares, volcker rule is a firewall between traditional Banks and shadow Banks, to prevent internal accumulation of shadow banking systemic risk to the spread of traditional Banks, resulting in systemic risk, affect the stability of the financial system.

Section 619 of the act makes it clear that Banks cannot engage in proprietary trading and invest in hedge funds and private equity funds other than those allowed under section d. Proprietary trading here means that a bank is not allowed to trade or dispose of financial instruments on its own behalf. These financial instruments include but are not limited to any securities, derivatives, commodity futures contracts and securities or other trading instruments identified by the securities and futures trading commission and the commodity futures trading commission in the relevant regulations. Banks should not invest more than 3 per cent of their total equity in hedge funds and private equity funds, and not more than 3 per cent of their tier one capital.

The provision requires systemically important non-bank financial institutions to have high capital and limit the amount of capital they can carry out when conducting proprietary trading and investing in hedge and private equity funds.

The bill stipulates that not all proprietary trading by Banks and investments in hedge funds and private equity funds are allowed. Under section d of section 619 of the dodd-frank act, there are as many as 10 exceptions that limit Banks' proprietary trading.

In chapter 9 of dodd-frank act, asset securitization institutions should keep certain risks when issuing and selling asset-backed securities. The act requires asset securitization institutions to keep at least 5% risks of assets securitized, which is the risk retention limit of asset securitization. It also requirements on information disclosure of asset-backed securities, the act of 947 stipulated in article, asset securities supervision committee for each kind of ABS support asset information to be disclosed, in order to make investors securities assets behind the real information, avoid to cause asset securitization information asymmetry between issuers and investors.

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