The Analysis Of Ameirca Shadow Banking System

The shadow banking system refers to separation in the system of traditionalcommercial bank, but with the same credit banks engaged in intermediary activities,system related to each other without or almost unregulated financial entities. Generallyspeaking, America shadow banking system refers to a system composed of investmentbanks, special purpose vehicle, hedge funds, money market funds, financial andinsurance companies and other non bank financial institutions. The concept of "shadowbanking system" was familiar to the people in2007USA after the subprime crisis. It isthe important reason of American subprime crisis. America shadow banking systemthrough will be issued by the bank loan asset securitization operation, thus unlimitedcredit expansion, the core element and essential feature is to change the simpletraditional bank credit relationship to the hidden credit relationship which is in acomplex asset securitization. This complex relationship plays a traditional bank creditintermediary function without a corresponding traditional banking organizations andtraditional bank strictly regulated like banks, like the traditional bank "shadow",therefore I have called the shadow banking system.From known, in the process of American subprime crisis generation and diffusion,America shadow banking system played a very important role. To this end, the FederalReserve started to take USA domestic of the shadow banking system into theframework of a comprehensive financial supervision. At the same time, the BaselCommittee (supervision coordination and research institutions of global bank) releasedBasel III regulatory framework to improve the supervision of bank capital and liquidityrequirements of regulatory standards, and emphasizes the importance of the riskisolation measures of traditional bank, requires the better establishment of the riskisolation and prevention mechanism of the shadow banking system and the traditionalbanking system, which further highlights to strengthen the importance of the shadowbanking system supervision. In the global consensus situation, set up the globalFinancial Stability Council (FSB), formulated the responsible for the coordination ofinternational regulatory standards of the shadow banking system, published some regulation of shadow banking system, and strive to establish a shadow bankcomprehensive regulatory framework, in order to prevent the shadow banking systemsupervision arbitrage and respond to it could pose a systemic risk.Compared with the American shadow banking system, Chinese shadow bankingsystem is relatively single and the system is not mature yet. From the Chinese shadowbanking system and operating mechanism, the main form is bank financial products andthe initial pilot bank letter of cooperation and asset securitization. Chinese shadowbanking system is the existing financial system which can not fully meet the financingneeds of the real economy and financial innovation, regulatory constraints and theproblem of the insufficient of financial innovation. In this sense, the existence ofChinese shadow banking system has certain rationality, which can be seen as a naturalvector of the financial innovation and interest rate market, is an important force topromote the development of Chinese financial.In this context, combing and analyzing USA of the shadow banking system, andproviding a good reference for the development of Chinese shadow banking system isof great significance.