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2016年第66期:中央银行与救助——危机以来的变化及选择

作者:马新彬
时间:2017年02月17日        字体:           点击量:

  摘要:2008年以来的全球金融危机引发了各界对于中央银行与救助关系的再审视和再反思,其动因正是源于危机以来的一系列深刻变化。在这些变化中,系统性风险、中央银行职能、全球金融治理的变化和挑战是核心内容。当前,我国金融稳定机制也暴露出了中央银行金融稳定职责与手段之间不相匹配的突出矛盾。本文分析了危机以来金融监管的新变化,金融再监管化与中央银行金融稳定职能强化的关系,并对我国建立宏观审慎政策框架提出政策建议。本文认为,面对新变局,改革的核心问题在于统筹宏观审慎政策框架与金融监管体制改革,合理划分货币政策、财政政策、宏观审慎与微观审慎在维护金融稳定中的权责边界。

  关键词:宏观审慎;中央银行;金融监管:最后贷款人

  作者:中国人民银行内审司 马新彬

  

    Central Bank and Assistance:

    Chance and Choice Since the Crisis

  Abstract: Since 2008, the global financial crisis have triggered the reexamination and rethinking of the relationship between the central bank and the assistance, which is the result of a series of profound changes from the crisis.Among these changes, systemic risk, central bank functions, and the changes and challenges of global financial governance are core elements.At present, China's financial stability mechanism also exposed the prominent contradictions that the duties and means of the central bank's financial stability do not match.This paper analyzes the new changes in financial supervision since the crisis, the relationship between financial re-regulation and the strengthening of the financial stability of the central bank, and puts forward some policy suggestions to establish a macro-prudential policy framework in China.This paper argues that, facing of the new situation, the core issue of the reform lies in the coordination of the macro-prudential policy framework and the reform of the financial supervision system, and rationally dividing monetary policy and fiscal policy, macro-prudential and micro-prudential boundaries to safeguarding financial stability.

  Key Words: Macro-prudential; Central Bank; Financial Supervision; Last Resort

  

  声明:《中国金融论坛工作论文》旨在促进与经济金融学界的学术交流与研讨,推动社会力量加强对相关问题的研究。论文内容仅代表作者个人学术观点,不代表中国金融论坛、中国人民银行研究局及中国人民银行金融研究所的观点。任何公开报道或引用,请注明来源为《中国金融论坛工作论文》。来源网站:http://www.cff.org.cn

  

      全文下载:2016年第66期——中央银行与救助:危机以来的变化及选择.pdf

    

    

  

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