美国对银行业综合经营的立法规制及其启示

自十九世纪以来,受国内外经济、金融环境等复杂因素影响,美国在银行业综合经营问题上,立法制度几经变迁,最终定型为现行的金融控股公司模式。美国的银行可以依法有限度地介入不动产、股票投资、证券投资、经纪、承销等领域,在资产证券化和信托等领域则有着更大的经营权。历史上,美国国会对银行控股公司和金融控股公司架构下的综合经营可能产生的反竞争后果长期保持了高度警惕,并针对银行业综合经营作出了明确的规范与限制。本文通过分析美国对银行业综合经营立法和监管的发展演变,得出以下启示:竞争、反竞争与风险防控一直是银行业综合经营立法的核心考量;适时立法,及时回应或指引银行业综合经营的集团化发展;根据立法现状,渐进发展具有自身特色的银行监管体系。

Comprehensive Operation in US Banking Sector:Legislation Regulation and Implications

Since the 19th century,with the development of economic,financial environment and other factors,operation systems of U.S banks have been improved and finally the financial holding company model has been set up.Banks of U.S.could be engaged in business of real estate,shares,equities investing,brokering & underwriting,and business of assets securitization and trust to even greater extent.In history,the U.S.Congress always cared about the anti-contest result of the increasing scale of banks and its financial holding companies,and made some definite rules and constrains on bank’s comprehensive operation.Implications from U.S.legislation and supervision on bank’s comprehensive operation include: contest,anti-contest and risks precautions are the key factors to be considered in the legislation on bank’s comprehensive operation;We should legislate in time to react or direct bank’s comprehensive operation and developes our own bank supervision systems according to the legislation.