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金融安全网构建的理论基石 评《存款保险制度研究:定价机制与风险效应》
Jin Rong Shi Bao· 2025-08-22 06:58
Core Viewpoint - The article emphasizes the importance of the deposit insurance system as a crucial component of financial security in China, highlighting its role in maintaining financial stability and protecting depositors' interests, particularly in the context of its ten-year implementation since 2015 [1][4]. Summary by Sections Deposit Insurance Pricing Mechanism - The book systematically studies the deposit insurance pricing issue from three dimensions: regulatory penalties, interval pricing, and macroeconomic policy considerations. It introduces a tolerance coefficient into Merton's classic model, showing that increased regulatory penalties lead to lower risk preferences among banks and subsequently lower deposit insurance rates [1][2]. - The research also incorporates fuzzy mathematics into the deposit insurance pricing model, demonstrating the theoretical significance and practical necessity of interval pricing, ultimately deriving deposit insurance prices based on triangular intuition fuzzy numbers [1][2]. - The impact of tax reduction policies on the real economy and financial sector is analyzed, revealing that a decrease in income tax rates leads to lower deposit insurance premiums, with empirical evidence indicating that higher bank income tax rates increase risk-taking and thus raise deposit insurance rates [1][2]. Risk Effects of Deposit Insurance System - The study investigates the impact of the deposit insurance system on banks' risk-taking behavior through four dimensions: the influence mechanism, differentiated rates, early corrective actions, and prudent regulatory policies. It finds that the implementation of the deposit insurance system effectively reduces risk-taking levels among small and medium-sized banks [2][3]. - The research expands on classic theoretical models, proving that differentiated deposit insurance rates have a suppressive effect on banks' risk-taking, particularly in the context of rural commercial banks' reforms [2][3]. - The book constructs indicators to characterize the early corrective actions of the deposit insurance system, confirming its effectiveness in early risk correction through unique data on real deposit insurance rates for small and medium-sized banks [2][3]. Policy Recommendations for Improvement - The author proposes four policy recommendations to enhance China's deposit insurance system: accelerating the legislation of the Deposit Insurance Law to improve its role and independence; strengthening regulatory collaboration to enhance efficiency; establishing a financial firewall between small and large banks to reinforce oversight; and utilizing big data to improve risk management and public supervision mechanisms [3][4]. Overall Assessment - The book presents a comprehensive study of the deposit insurance pricing mechanism and the effects of the deposit insurance system, characterized by a framework that integrates empirical facts, pricing mechanisms, risk effects, and mechanism design. It effectively combines theoretical and empirical research, addressing both pricing mechanisms and risk effects in detail [4][5]. - The theoretical contributions include integrating prudent regulation and macroeconomic policies into deposit insurance pricing models, enriching the theoretical landscape of deposit insurance [4][5]. - The empirical focus on small and medium-sized banks provides valuable insights into the effects of the deposit insurance system, offering a scientific evaluation that can inform future improvements [4][5].
设立金融稳定保障基金完善金融安全网
Xin Hua Wang· 2025-08-12 06:29
Core Viewpoint - The establishment of a financial stability guarantee fund is crucial for preventing and resolving systemic financial risks, reflecting the increasing importance of financial stability in economic and social development [4] Group 1: Financial Risk Prevention and Resolution - The government work report emphasizes the importance of preventing and resolving major financial risks, requiring the strengthening of risk warning, prevention mechanisms, and capacity building [1] - Significant progress has been made in preventing and resolving major financial risks since the 19th National Congress, with key areas of risk being controlled and systemic financial risk trends being curbed [1] - From 2017 to 2021, high-risk shadow banking was dismantled by 25 trillion yuan, and approximately 1.2 trillion yuan of non-performing assets were disposed of [1] Group 2: Financial Stability Mechanisms - A financial stability development committee has been established, along with a last-resort lender mechanism by the central bank, to manage and guide financial safety and stability [2] - Various funds have been created, including deposit insurance funds and investor protection funds, to accumulate experience in risk prevention and resolution in specific financial sectors [2] - There is a need for a long-term, top-level design for financial safety, enhancing risk disposal mechanisms to address the complexities of financial institutions and their interconnections [2] Group 3: Financial Stability Guarantee Fund - The financial stability guarantee fund aims to prevent systemic financial risks and enhance overall market safety, broadening the sources of funds for risk resolution [3] - The fund's establishment should be based on realistic needs, clearly defining its functions and the scope of financial stability risks [3] - Funding for the guarantee fund should be sourced from multiple parties, including government and market institutions, with contributions based on asset size and risk [3]
存款保险制度十年深耕 多维度夯实金融“安全网”
Jin Rong Shi Bao· 2025-08-08 07:59
Core Viewpoint - The establishment and implementation of the deposit insurance system in China have significantly enhanced the protection of depositors' rights and contributed to financial stability over the past decade, especially highlighted by the successful resolution of the Baoshang Bank crisis [1][2][3]. Group 1: Background and Development of Deposit Insurance - The deposit insurance system was officially established on May 1, 2015, after a long development process that began with proposals in 1993 [2]. - The system aims to safeguard public interests by ensuring the safety of deposits through a legally established insurance fund [2]. - Over the past ten years, the system has played a crucial role in protecting depositors and maintaining financial stability, particularly during crises [2]. Group 2: Case Study of Baoshang Bank - Baoshang Bank was placed under regulatory takeover on May 24, 2019, due to severe credit risks and significant asset impairment [1][3]. - The bank's crisis was exacerbated by the failure of its major shareholder to repay funds, leading to a liquidity crisis [3]. - The deposit insurance system facilitated the resolution of Baoshang Bank's issues by establishing a new bank to take over deposits and core operations, thus protecting depositors [1][3]. Group 3: Functionality and Impact of Deposit Insurance - The deposit insurance system has a compensation limit of 500,000 yuan, which covers 99% of depositors, placing it at a relatively high international level [4][5]. - Since its inception, the system has collected a total of 373.2 billion yuan in premiums, providing a solid resource base for protecting depositors [5]. - The system has effectively reduced the frequency and impact of bank runs, particularly after the introduction of deposit insurance branding and public awareness campaigns in 2020 [5]. Group 4: Risk Management and Regulatory Framework - The deposit insurance system is designed not just as a payout mechanism but as a proactive risk management tool, incorporating monitoring, early intervention, and market exit strategies [6][7]. - A risk-based premium system was introduced in 2016, requiring higher premiums from riskier institutions, thereby encouraging prudent management [8]. - The system's effectiveness relies on accurate risk assessment and timely intervention, necessitating enhanced monitoring and regulatory powers for the deposit insurance fund management [9][10]. Group 5: Future Enhancements and Recommendations - There is a need to strengthen the deposit insurance system's risk management capabilities and enhance its authority to initiate risk resolution measures [11][12]. - Recommendations include developing a dedicated deposit insurance law, improving risk monitoring systems, and ensuring effective early intervention mechanisms [10][12]. - The overall goal is to create a robust financial safety net that prevents systemic risks while ensuring fair competition among financial institutions [12][13].
完善早期纠正、风险处置机制
Jin Rong Shi Bao· 2025-08-08 07:59
Core Viewpoint - The establishment of the deposit insurance system in China has significantly protected depositors' rights and enhanced public trust in the banking system, but there are calls for legislative improvements to address existing limitations in the current framework [1][7]. Group 1: Overview of Deposit Insurance System - The deposit insurance system has been operational since May 1, 2015, providing full protection for over 99% of depositors with a compensation limit of 500,000 yuan, which is significantly higher than the international average [1]. - The system has played a crucial role in maintaining the stability of the banking sector and has been involved in risk resolution for institutions like Baoshang Bank and Liao Yang Rural Commercial Bank [1]. Group 2: Legal and Regulatory Challenges - The current legal framework, including the People's Bank of China Law and the Banking Supervision Law, does not provide sufficient authority for the deposit insurance system, which is primarily governed by the lower-tier Deposit Insurance Regulation [2][3]. - The Deposit Insurance Regulation, established in 2015, lacks detailed provisions and has been criticized for its limited effectiveness in risk monitoring and early intervention [4][5]. Group 3: Calls for Legislative Reform - Industry experts and officials have emphasized the need for a dedicated deposit insurance law to enhance the legal standing and effectiveness of the deposit insurance system, particularly in risk prevention and resolution [6][7]. - Recent meetings, including the Central Financial Work Conference, have highlighted the importance of improving the deposit insurance framework to better manage systemic risks and enhance financial stability [7][8]. Group 4: Recommendations for Improvement - Experts suggest that a new deposit insurance law should clarify the roles and responsibilities of the deposit insurance system in risk resolution and improve the mechanisms for early intervention and risk monitoring [9]. - Establishing a robust risk monitoring and early warning system is essential for timely identification and management of risks within financial institutions [8][9].
★不断深化区域财金合作 强化金融安全网
Zheng Quan Shi Bao· 2025-07-03 01:56
Group 1 - The 28th ASEAN Plus Three (10+3) Finance Ministers and Central Bank Governors Meeting was held on May 4 in Milan, Italy, focusing on global and regional macroeconomic conditions and financial cooperation [1] - The meeting resulted in a joint statement emphasizing the need for deeper policy coordination and strengthening the regional financial safety net [1] - China announced a donation of $4 million to the AMRO China Technical Assistance Trust Fund to support macroeconomic monitoring and financial stability capacity building among regional members [1] Group 2 - A new rapid financing tool funded by freely usable currencies like the Renminbi was established under the CMIM, marking a significant step towards diversifying the international monetary system in the region [2] - The meeting highlighted the rising economic and financial risks faced by the 10+3 region, underscoring the importance of enhancing the Chiang Mai Initiative mechanism and regional financial safety nets [2] - The introduction of this financing tool expands the resources available under the Chiang Mai Initiative and reflects the region's unique characteristics [2]
中巴续签双边本币互换协议
Sou Hu Cai Jing· 2025-05-13 14:46
Group 1 - The core viewpoint of the news is the signing of a financial strategic cooperation memorandum and a bilateral currency swap agreement between the People's Bank of China and the Central Bank of Brazil, aimed at enhancing financial cooperation and stability between the two countries [1][2] - The renewed bilateral currency swap agreement has a scale of 190 billion RMB / 157 billion Brazilian Reais, valid for five years, which will help expand the use of local currencies and facilitate bilateral trade and investment [1] - The agreement is seen as an important part of the global financial safety net, especially in the context of recent US tariff policies, signaling a commitment to cooperation and enhancing market confidence [1] Group 2 - The financial strategic cooperation memorandum aims to deepen collaboration between the two central banks, improve the investment environment, and support financial market infrastructure connectivity [2] - The bilateral currency cooperation will provide liquidity support for the financial markets of both countries and promote cross-border payment interoperability [2] - The People's Bank of China has signed bilateral currency swap agreements with 42 countries and regions, with a total scale of approximately 4.5 trillion RMB across 32 active agreements [1]
加快完善存款保险顶层设计
Jing Ji Ri Bao· 2025-05-07 22:14
Core Viewpoint - The 10th anniversary of the implementation of the Deposit Insurance Regulations highlights the significant achievements and ongoing challenges in enhancing the financial safety net in China, emphasizing the need for legal elevation and improved mechanisms for risk management and early intervention [2][5][6]. Summary by Relevant Sections Financial System Stability Enhancement - The Deposit Insurance Regulations have been in effect since May 2015, establishing a financial safety net supported by prudent regulation, deposit insurance, and the central bank as the lender of last resort [2]. - Over the past decade, the deposit insurance system has effectively enhanced public confidence in the banking system, improved depositor protection, and facilitated the orderly exit of high-risk banks, thereby strengthening the overall stability of the financial system [2][4]. Deposit Insurance Fund Statistics - As of the end of 2024, there are 3,761 insured institutions in China, with a total of 373.2 billion yuan in collected premiums [3]. - The deposit insurance system has conducted risk warnings and early corrective measures for 1,600 insured institutions, showcasing its proactive approach to risk management [3]. Legal Framework and Recommendations - Experts have called for the elevation of the legal status of the Deposit Insurance Regulations, which currently function as administrative regulations, to a dedicated law to enhance its effectiveness in risk management [5][6]. - The need for a specialized deposit insurance law has been emphasized, as it would clarify the responsibilities and powers of deposit insurance institutions and improve early corrective measures [5][6]. Improvement of Deposit Insurance Mechanisms - Experts suggest that the deposit insurance system should be integrated into the central bank's operational framework to strengthen its professional risk management and early intervention capabilities [7]. - There is a call for the establishment of a more robust early corrective mechanism and a broader range of risk management tools to address new challenges in the banking sector [7][8]. Funding Sources for Deposit Insurance - The discussion at the symposium included the need to diversify the funding sources for the deposit insurance fund, drawing on international practices such as central bank loans, bond issuance, and special levies on institutions [8]. - Establishing a similar mechanism in China would enhance the liquidity and risk response capabilities of the deposit insurance fund [8].
蓝佛安、潘功胜出席东盟与中日韩(10+3)财长和央行行长会议表示 不断深化区域财金合作 强化金融安全网
Zheng Quan Shi Bao· 2025-05-05 17:21
Group 1 - The 28th ASEAN Plus Three (10+3) Finance Ministers and Central Bank Governors Meeting was held on May 4 in Milan, Italy, focusing on global and regional macroeconomic conditions and financial cooperation [1] - The meeting resulted in a joint statement emphasizing the need for deeper policy coordination and strengthening the regional financial safety net [1] - China announced a donation of $4 million to the AMRO China Technical Assistance Trust Fund to support macroeconomic monitoring and financial stability capacity building among regional members [1] Group 2 - The 10+3 region demonstrates strong resilience and significant growth potential, but faces complex internal and external challenges [2] - The meeting reached a consensus on establishing a rapid financing tool under the CMIM using freely usable currencies like the renminbi, marking a significant step towards diversifying the international monetary system [2] - The introduction of this financing tool expands the resources available under the Chiang Mai Initiative and highlights regional characteristics [2]
存款保险十年守稳金融防线,专家建言推动立法、完善后备融资
Di Yi Cai Jing· 2025-04-29 11:43
Core Viewpoint - The article emphasizes the importance of enhancing the deposit insurance system in China, particularly through the establishment of a backup financing mechanism in the new deposit insurance law, to better protect depositors and manage financial risks effectively [1][7]. Group 1: Achievements of the Deposit Insurance System - The deposit insurance system has been operational for ten years, significantly enhancing public confidence in the banking system and improving depositor protection levels [1][4]. - Over 99% of depositors are provided with full protection, which is notably higher than the international average [1][6]. - The system has played a crucial role in risk monitoring, early correction, and orderly exit of high-risk banks, thereby strengthening the stability of China's financial system [1][4]. Group 2: Recommendations for Improvement - Experts suggest that the deposit insurance law should be elevated to a higher legal status to provide a more robust framework for the operation of the deposit insurance system [7][8]. - There is a call to enhance the functions of deposit insurance, including the development of early correction and risk disposal measures, and to enrich the deposit insurance fund [2][7]. - The establishment of a backup financing mechanism is recommended to ensure the deposit insurance fund can respond effectively to external financial shocks [7][8]. Group 3: Case Study of Baoshang Bank - The risk disposal of Baoshang Bank is highlighted as a landmark case, demonstrating the effectiveness of the deposit insurance system in protecting depositors' interests during the bank's bankruptcy proceedings [3][4]. - The case marked a significant breakthrough in the market exit of commercial banks, showcasing a successful model for risk management and resolution [4][6]. Group 4: Future Directions - The People's Bank of China emphasizes the need to leverage technology to enhance the effectiveness of the deposit insurance system and to engage in international cooperation for better financial governance [2][6]. - Experts advocate for continuous learning from risk disposal experiences to improve the financial system's resilience and to refine the backup funding sources for the deposit insurance fund [8].
如何让存款更安全、银行更稳健?这场座谈会集思广益
Xin Hua Wang· 2025-04-29 10:39
Core Viewpoint - The discussion at the expert seminar organized by the People's Bank of China focused on enhancing the deposit insurance system to ensure the safety of deposits and the stability of banks, reflecting on nearly ten years of experience since the implementation of the Deposit Insurance Regulations in 2015 [1][2]. Group 1: Deposit Insurance System Overview - The deposit insurance system has provided a safety net for depositors, with a maximum compensation limit of 500,000 yuan, ensuring full protection for over 99% of depositors [2]. - The system has actively performed core functions such as risk monitoring, prevention of bank runs, differentiated premium rates, early correction, and risk disposal, thereby strengthening public confidence in the banking system [2][3]. Group 2: Impact on Financial Stability - The deposit insurance system has played a crucial role in maintaining the stability and fairness of the Chinese financial industry, benefiting both small and large banks equally [4]. - Since the implementation of the deposit insurance system, the deposit structure among large, medium, and small banks has remained stable, with an increasing share of deposits in small banks [4]. Group 3: Early Correction and Risk Management - The deposit insurance fund management has been effective in stabilizing public confidence, with the People's Bank of China managing the fund and enhancing its risk monitoring and early correction capabilities [3][5]. - As of the end of 2024, there are 3,761 insured institutions under the deposit insurance scheme, with risk warnings and early correction measures applied to 1,600 institutions [5]. Group 4: Future Enhancements - Experts suggested expanding the funding sources for the deposit insurance fund and improving the efficiency of fund utilization while ensuring safety [7]. - There is a call for enhancing the legal framework surrounding the deposit insurance system, including revisions to relevant laws to strengthen its foundation [7]. - The importance of technology and international cooperation in enhancing the effectiveness of the deposit insurance system was emphasized [7].