The Research On Macro-prudential Supervision: International Experience And Domestic Practice

The global financial tsunami in2008exposed the systemic risk accumulated inAmerica, even the International financial system, and makes the Regulatoryauthorities noticed that only rely on the micro-prudential supervision, whichrepresented by <Basel Accord>, is not enough to prevent the financial systemic risk. Afinancial supervision reform began in the world after the crisis, and the key is tostrengthen the macro-prudential supervision to guard against the systemic risk.Macro-prudential supervision is to guard against the financial systemic from theangle of system as well as the single financial institution. Macro-prudentialsupervision mainly monitor the systemic risk from the cross-time dimension and thecross-section dimension to prevent the the financial periodicity and correlation risk offinancial institutions.This paper mainly elaborates the correlation theories of systemic risk andmacro-prudential supervision, and summarized fivr experiences and enlightenment ofthe developed countries on macro-prudential supervision, then theoretical analysis andempirical measures of financial systemic risk status quo of our country, includingmacro-economic factors and micro-economic factors. Our domestic practice ofmacro-prudential supervision construction is just in its infancy, which faced manyproblems, so we need to further strengthen the macro-prudential supervisionconstruction. The last, from the bank itself and the regulatory authorities, the papergive feasible suggestions to ensure the steady and healthy operation of our financialsystem.