Studies On The Financial Supervision Under Financial Globalization And Its Enlightenment To China

Looking at several decades of international financial history of the development of international economic integration along with the continuing development of financial globalization has become the most important and most obvious characteristics. Financial globalization on the whole strong impetus to the world economy and international financial developments. In the process of financial globalization, international capital flows rising rapidly, and has enabled the financial risk at the national expansion of the transmission channels, a State regulatory financial difficulty growing. After joining the WTO, China's economy has been fully integrated into the process of financial globalization, financial depth grasp the opportunities brought by globalization to cope with the new challenges of financial globalization, we have become an unavoidable and important task. As the world's largest developing countries, financial globalization to the Chinese was more of a challenge, particularly to China's financial supervision and regulation pose serious challenges.20beginning of the 1980s wave of financial liberalization, has enabled the financial system integration business model shows strong vitality. States have the financial regulatory authorities to allow the banking sector and the securities and insurance sectors-business, the operation mode of constantly being broken, and a worldwide integration of the financial services business trends, a mixed business situation. 1990s, the globalization of finance frequent mergers and acquisitions, financial institutions showing a large scale, international characteristics of the world's major financial groups are constantly emerging, mixed operations conform to the modern trend of the financial sector, the corresponding requirements a unified financial regulatory supervision model, unified regulation to improve the supervision of the Commonwealth of complex financial efficiency.With the global trend of the integration of financial markets strengthened, and financial innovation and raise the level of financial liberalization, the arrival of the information age network, which are the traditional way of financial regulatory challenges. Global financial business is to change the direction of mixed operations, the major developed countries in Europe and America have corresponding adjustment of the financial regulatory system, showing a regulatory model from the industry transition to a uniform regulatory, institutional and regulatory functions to monitor changes in the external stress supervision and internal control system of the organic unity of the development trend. With China's accession to the WTO, comply with the global trend of development of the financial sector, the financial sector will face financial institutions developed the powerful blows from promoting its development of the financial industry and to withstand the impact of foreign financial institutions perspective, the existence of our country have implemented Mixed the need for business to China's financial supervisory system to the new challenges."The New Basel Capital Accord" continuation of a capital adequacy ratio at the core ideas of regulation, drawing a bank risks of regulatory minimum capital requirements, external supervision, the three pillars of the market principle, the proposed measure of the new capital adequacy ratio ideas and methods. In the new capital framework agreement for the financial industry to adapt to the international development of the risk management needs of our objective requirements of the banks should improve internal risk rating system (IRB), and implementing a comprehensive risk management, strengthen financial supervision and management, strengthen information disclosure and so strengthen reform of the system of financial supervision.In this paper, in the context of globalization, on the "The New Basel Capital Accord" on China's financial regulatory framework to the challenges and impact of financial supervision from the developed western countries and the successful experience of international financial supervision and the development trend of China's financial objective monitoring systems and the status quo, the existing problems, to strengthen the building of China's financial regulatory system in response to China's financial supervisory system is to achieve the development direction of the financial supervisory functions ideas, and our idea of the monitoring system set up in the design of the framework. In addition to the introduction, the text is divided into four parts:The first part, introduced on financial globalization at home and abroad over the past 20 years the main views and perspectives, focusing on the content of the financial globalization, the main contents of the economies of developing countries, as well as the financial impact of the dual supervision of the financial impact. This chapter focuses on the economic and financial development of the developing countries plus or minus double impact participation of developing countries in the process of globalization is a learning process, the impact of the contradictions and development and integration. With the growing international integration of financial markets, financial risk of transmission channels to expand, resulting in the world's financial regulatory difficulty growing.The second part, introduced the basic theory of financial supervision. Mainly on the basis of the financial supervision and management theory, the theory of financial supervision and regulation of the content of the main trend of development. Financial supervision is the theoretical basis of incomplete financial markets, financial market failures led to the need for financial institutions and markets an external monitoring system. The development of modern economics, in particular the "market failure theory" and the "economics of information" for the development of financial regulation laid the theoretical foundation. Financial supervision , including the basic elements of prior, in the matter after monitoring three areas, collectively referred to as the general supervision of the financial "three lines of defense" a basic system of financial supervision. In this paper, in the supervision of financial risks of several important parts, including the capital adequacy of the supervision, monitoring liquidity, credit risk monitoring three parts. Major developed countries with the development of the theory of financial monitoring process, put forward the theory of financial supervision and the direction of development.The third part, on the United States, Britain, Japan and other developed countries the main framework of the financial management system, features and trend of development, a comprehensive analysis of the developed countries under the financial supervision of globalization trends and the Enlightenment to China. Looking at the major developed countries regulatory approach, the United States, Germany and specialized integrated a combination of supervision, is a mixed business based on the functionality of the monitoring. And the United Kingdom, Japan will take a unified regulatory approach. In the financial context of globalization, the international financial regulatory emerged including financial regulation by the industry to a uniform regulatory supervision transition from institutional to the regulatory function of the regulatory changes that external supervision and internal control systems, such as the organic unity of the development trend of content . Responsive to this global trend of financial supervision, China should be beneficial inspiration and reference to cope with the impact of international financial groups, and gradually reform the financial regulatory system, the functions of supervision and management system development.Part IV, on "The New Basel Capital Accord" framework for China's banking supervision of risk. Expounded China's financial supervisory system of the status quo, existing problems, and put forward to improve and strengthen our country's financial supervisory system response and, in conjunction with the current international financial supervision and the development trend of China's Enlightenment, conform to the global financial industry to develop mixed trend to China's financial monitoring systems and the direction of development is a function of the regulatory perspective, and the idea of the establishment of functional regulatory system design framework.I think that the functional supervision of the financial system is under the new situation of China's financial supervisory system is an ideal choice. Implementation of financial regulatory function (functional regulation) is China's financial supervisory system development direction. Functional financial supervisory system that is the biggest advantage to conform to the trend of mixed business, a cross-industry, cross-market, cross-product financial supervision. To effectively solve the mixed business conditions under the supervision of financial product innovation attribution, or avoid multiple regulatory vacuum. In view of the regulatory function of many advantages, the United States "1999 Financial Services Act," which is based on the idea of functional supervision of its regulatory system of the new design. The chapter concludes from the adaptation of the system of internal financial control requirements perspective, the author made on the establishment of China's financial regulatory functions of the institutional framework of the design: the establishment of a comprehensive national Monetary Authority supervision, the CBRC, the Securities and Futures Commission, the China Insurance Regulatory Commission will be focus placed under the unified leadership of the council, a framework of this level and division of the regulatory system. Functional regulatory system is our country from the operation to the Mixed Operation transition period financial supervisory system is an ideal choice. As the financial innovative products continue to emerge, but also actively towards the establishment of a genuine sense of the function of the financial supervisory system and the goal to continue its efforts to promote the greatest degree of mixed business trend of China's financial industry can develop healthily.