The Study On Financial Regulatory Framework Based On Mcro-Prudential Policy

With the continuous progress of financial liberalization and financial integration, the scale of financial institutions gradually expand, accelerate innovation of financial derivative products, and the rapid development of financial markets, while the lack of a unified regulatory of existing financial regulatory system on some cross-financial business, within the financial systemic risk making continuously improve and accumulation. Since the international financial crisis, the world regulatory authorities realize that the traditional micro-prudential supervision has been unable to maintain the stability of the entire financial system, so take a macro-prudential financial regulation to prevent systemic financial risks and to achieve the stability of the entire financial system. Then, based on macro-prudential financial regulation is the main content of the reform of the international regulatory system. In the official documents of the Seventeen Session Fifth Plenary of the CPC Central Committee, include "the establishment of a counter-cyclical macro-prudential financial regulatory framework". With the economic development of countries, and different financial openness, it has important theoretical and practical significance to accelerate the construction of financial regulation in the mode of "1bank3commission" for suited to China’s macro-prudential framework.The paper mainly combine theoretical analysis and practical experience, then summarized the main contents of the implementation of macro-prudential financial regulation policy, and analysis the practical experience of other countries for put a idea to build a framework of macro-prudential financial regulation base on our "1bank3commission" supervision. The basic framework of the article:First briefly introduced the background, the research status at home and abroad, the method, the main content, innovation and shortcomings of this paper. The first chapter put the macro-prudential financial regulation policy’s objectives into the ultimate goal, direct goals and concrete targets, followed describe the tool of the macro-prudential financial regulation. The second chapter research the implementation of monetary policy of the central bank and the micro-prudential regulatory policies of various regulatory agencies, shows that the status of our existing financial regulatory framework, and pointed out its flaws. The Chapter3analysis that the relevant rules of the major international organizations, then describe the specific examples to build a macro-prudential framework of the European Union, the United Kingdom, the United States, and obtain revelation for our country. The fourth chapter is to build a macro-prudential framework for financial regulation in the mode of "1bank3commission", and then compared with the original. The final chapter is a summary of this article, as well as proposed some policy recommendations to speed up the formation and implementation of the new framework.