The Researchon How To Improve The Legal Systemof China’s Commercial Bank Information Disclosure

Under the intense impact of Asian financial crisis and the global financial crisis in2008, the overprotection and information shadowing of bank industry has widely exposed. Therefore the issue of information disclosure has attracted much attention. The Basel Committee builds a legal framework of commercial bank’s information disclosure by promulgating a series of documents, to provide a criterion for the establishment of legal system of commercial bank’s information disclosure. Due to the social system and history, the information disclosure started relatively late in our country and it still has a far cry from the criterion which the Basel Committee made. With the rapid development of the current financial market as well as the constantly changing situation of external environment, it is very urgent for us to standardize and perfect the legal system of our country commercial bank’s information disclosure for the request of financial market development in our country. Besides this, it also exists an extremely important practical significance to improve the management level and the transparency of the entire financial industry, strengthen financial regulation, guard against financial risks and promote the bank safe, stable and efficient operation.The elementary theoretical issue in commercial bank’s information disclosure is the basis of future study. We can start from these aspects of theoretical basis, meaning and characteristics, scope and object related to information disclosure. The four representative files of the Basel Committee, which are "Enhancing Bank Transparency","Principles for Enhancing Corporate Governance","Core Principle for Effective Banking Supervision", and "Basel Accord Ⅲ" not only provide criterions for other countries’information disclosure, but also offer lessons for the improvement of the information disclosure system in our country. Through the comparative study on the practice of information disclosure system from different representative countries, it is not difficult to find that there exist the two main problems containing the lagged idea of information disclosure and lack of specific measures. To improve the legal system of commercial bank’s information disclosure in our country, we must first start from the idea innovation insisting on the principle of effective regulation, risky management, as well as risk management and private protection balance principle, which is the starting point of the system consummation. Then we have to construct a perfect legal system of information disclosure, maintain the safety of bank industry and promote healthy development of the entire financial industry through improving the content, regulating the procedure, strengthening the safeguard mechanism of information disclosure, and completing information communicating and the regulation mechanism of international cooperation and other measures.