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系统重要性金融机构(SIFIs)是指由于其规模、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。2008年全球金融危机凸显了SIFIs处置框架缺失对金融体系造成的危害。在后危机时代,国际社会力图构建SIFIs处置的国际法制。国际金融组织从明确有效处置的核心要素、增强金融机构附加损失吸收能力、提升处置方案的可操作性和建立跨境处置合作安排等方面提出了SIFIs处置的国际框架,美欧等发达国家出台了具有划时代意义的金融改革法案,引入了广泛的处置权力与工具,强化了SIFIs破产处置的行政色彩和统一性。借鉴国际经验,我国应从建立SIFIs识别体系、强化有效处置的制度设计、完善跨境处置国际合作和与存款保险制度有效衔接等方面尽快建立我国SIFIs处置制度。
SIFIs are financial institutions that, due to their size, complexity and system relevance, are in a state of crisis or disorderly collapse that will seriously disrupt the wider financial system and economic activity. The global financial crisis in 2008 underscored the financial system’s deleterious effects of the absence of the SIFIs disposal framework. In the post-crisis era, the international community sought to establish an international legal system for the disposal of SIFIs. The international financial organizations put forward the international framework for the disposal of SIFIs in terms of clarifying the core elements of effective disposal, enhancing the absorptive capacity of financial institutions for additional losses, improving the operability of disposal options and establishing cross-border disposal and cooperation arrangements. The developed countries such as the United States and Europe have promulgated The landmark financial reform bill introduced a wide range of powers and tools for disposal and strengthened the administrative color and uniformity of SIFIs’ bankruptcy disposal. Draw lessons from international experience, our country should set up SIFIs disposal system as soon as possible in terms of establishing SIFIs identification system, strengthening the system design of effective disposal, improving international cooperation in cross-border disposal and effectively connecting with deposit insurance system.