Research On Macro-prudential Regulatory Framework Of China In Post-crisis Era

The United States sub-loan crisis triggered the global financial crisis on2008, huge losses due to the financial crisis has seriously affected the development of the global economy, that the regulators began to reflect on the current regulatory system defects. Since the nineteen eighties, regulators are mainly focusing to micro-prudential, and micro-prudential supervision is also increasing year by year, but the time interval and small scale financial crisis more short, and the crisis is also increasing strength. The main reason is that with the rapid development of the financial industry, the fragility of financial market unceasing enhancement, and in the transverse direction, the mixed operation widely so that financial institutions increased homogeneity and periodic; in the vertical, the financial innovation change rapidly, the off-balance-sheet business and high leverage more and more, so high the rate of return and risk of asset bubbles. Financial regulators recognize the micro-prudential supervision is concerned with financial institutions in a single, but ignore the risk of the entire financial system, and the macro-prudential supervision is based on the systematic risk as the core regulatory, effectively prevent and resist the systemic risk, maintain the stability of financial system.Firstly, starting from the origin of macro-prudential supervision, this paper introduces the basic theory of macro-prudential regulation, comparing the difference between macro-prudential and micro-prudential supervision. Secondly, from the point of view of the existing financial regulatory framework of china, made after discussion on the current situation of financial supervision and the financial crisis from the perspective of the four reform measures. Third, the comparison and analysis of the United States of America, Britain and the European Union Organization in the economy after the financial crisis to the financial regulatory reform, draw lessons from the experience of their reforms, which serves as a supplement to the study of our macro-prudential supervision framework content. Finally, propose the suggestions to improve our country macro-prudential supervision framework, include establishing the financial stability Committee risk, macro-prudential regulation tool selection, strengthen the system of risk monitoring and assessment, strengthen coordination of macro prudential regulation and monetary policy.