Post-crisis Era, The U.s. Financial Regulatory Reform Assessment

Financial crisis thoroughly exposed the vulnerabilities in the U.S. financial regulatory system, displayed in that the lagging financial regulatory system made American financial regulatory existing regulatory overlap, loopholes, and out of control problem, this forced the U.S. to implement the reform of financial regulatory system. The United States financial regulatory reformed on the following aspects mainly: One is the prevention and dealing with systemic risk; Two is to strengthen the protection of investors and consumers; Three is to strengthen the supervision of the derivatives markets; Four is to improve the supervision of housing mortgage market; Five is to reform credit rating agencies and the fed; Six is to strengthen the supervision and administration compensation.This paper based on this consideration, financial regulation from trace on the formation and development of evolution, to reveal the main content of the theory of financial supervision, goals, and stage of development in order to understand the intrinsic essence of financial regulation. Then based on this, combined with the financial regulatory reform ,the following aspects emphatically to analyzed: One is the American financial institutions and financial regulatory system structure; Two is the U.S. financial regulatory system characteristics before the financial crisis; Three is the U.S. financial regulatory system reform evolution; Four is the U.S. financial regulatory reform to the institutional framework; Five is the lessons in the U.S. financial regulatory and it faces some new problems in the reform.Through the thorough understanding to analysis financial regulatory reform in the U.S. financial regulatory reform, it deepen the understanding and the understanding of the essential problems, meanwhile it inspired thinking about our financial system present problems and we should adopt effective measures to improve our financial supervision level. According to this logic thinking , the paper deeply analyzes the present situation of Chinese financial system with insufficient, specific mainly for the following respects: One is that the rigid supervised mode had restricted the development of banking industry; Two is low efficiency of financial supervision, and the cost of regulation are relatively high; Three is that decentralized management supervision cannot adapt to the international development needs; Four is that the financial supervision lagged behind the development of international financial industry; Five is that the current regulation of the financial supervision and regulation is not comprehensive existing disadvantages including content that it is too narrow; Six is that administrative examination and off-site regulatory financial regulatory way is less efficient and supervision of technical means to be ascension.On one hand, our financial regulatory reform should use the experience and lesson of developed financial system countries ; on the other hand we also should combine national conditions to reform practically. The financial regulatory system reform of the U.S. provides valuable reference model for our country. However, it should be clear that due to different conditions in different stages of development, the economy and the financial system structure is different, especially the development of the financial industry in China with America still has a large gap, the specific financial supervision measures of the American financial regulatory reform in a number do not apply to our financial regulatory reform, so copying of financial regulatory reform is destined to fail. It is on this thought, This paper puts forward some suggestions of perfecting our current financial regulatory system. Based on the development trend of China's financial system are analyzed, and financial regulation should comply with the mixed-business management of the financial industry and the development request of financial innovation constantly, to avoid financial lagging regulation development. This paper suggests to introduce the defense supervision and the inspection of the capital market burden; establish a forward-looking and comprehensive financial regulatory principles and ideas; make the deposit insurance system as the last line of defense financial regulation; correctly handle the financial supervision and financial innovation balance problem. Some of the ideas may have a certain innovation, but there still exist some problems and insufficiency, I will through constant perfect follow-up study.