The Stdudy Of Financial Macro And Micro Prudent Supervision Coordination Mechanism

Since the international financial crisis, both the international community and financial authorities of each country think that strengthening the macro prudential supervision is the core content to promote financial supervision reform. The background of this paper is the financial reform of the international community and each country after the international financial crisis. Putting the macro and micro prudential supervision’s relationship as cut-in point of research, this paper discusses the necessity of supervision coordination, analyzes the content of coordination, and on the basis of above, puts forward the coordination mechanism model.Using the analytic ways of theory、comparative、empirical and case etc, this paper combs the history practices of financial supervision systematically, and makes an analysis of defects about the micro prudential supervision. Using the experience of research production about the macro and micro prudential supervision coordination for reference, basing on research about the macro and micro prudential supervision’s relationship, this paper analyzes the necessity of coordinating the macro and micro prudential supervision, studies the goal of prudential supervision--preventing systemic risks, establishes a macro financial stability early warning model and financial web model, and analyzes empirically basing on Hebei Province’s economic and financial data and the payment data. Moreover, the paper also discusses the financial coordination characteristics of the major developed economies and regional organization on world, and investigates the financial regulatory reform measures after international financial crisis. In contrast, it also analyzes the state of China’s financial supervision coordination and the main problems that exist, puts forward the international experience that China could refer.The main conclusions and results are:(1) Since the serious lack of the micro prudential supervision in preventing systemic financial risks, and the limitation of macro prudential supervision which depends on the effective micro prudential supervision, these two must be effectively coordinated. It should establish a supervision system that macro and micro supervision arrange well, function differently and coordinate efficiently.(2) To achieve the target of financial micro and macro prudential supervision expect, it must take good advantage of some effective microcosmic regulatory tools, and take efficient coordination of the supervision target、the supervision subject the system important institutions, and the international financial supervision practice.(3) Taking the macro and micro prudential supervision coordination’s content and goal as the core, this paper establishes a coordination mechanism model, which mainly including:In the risk monitoring and evaluation stage, all financial supervision subjects should pay attention to the construction of information-sharing mechanism; In the process of managing financial institutions, financial market and infrastructure, it should establish an automatic stabilizer mechanism that can prevent the systemic financial risks. The central bank leads the construction of supervision coordination authority mechanism, financial supervision coordination mechanism, international financial supervision cooperation mechanism, and financial institutions’management incentive and restraint mechanisms; In the stage of risk settlement, it should establish an emergency relief and consultation mechanism; In the stage of risk handling, it should establish a financial safety net mechanism to prevent local financial crisis develop an overall financial crisis.