美国政府对问题金融机构注资制度的演变及借鉴

本文考察了美国对问题银行注资救助制度的演变及不断完善过程,并对制度内涵及机理进行了研究.政府对濒临倒闭问题金融机构注资救助就是政府干预、防止金融风险扩散的一种手段,但这种手段在制度不健全的情况下也很容易被滥用.滥用会导致个别金融机构将风险向政府转嫁、增加纳税人的负担,同时对市场机制具有很大破坏作用.美国在防止政府干预滥用的制度建设上取得了许多成功经验,这些经验对我国目前正在启动的政府对证券公司的注资具有非常重要的借鉴意义.

American Evolution of Principles on Capital Injection to Financial Institutions With High Risk Profile

This paper is a review of American evolution of principles on capital injection to financial institutions with high risk profile and a survey report of the nature and mechanism of the system. This is often realized through capital injection to financial institutions on verge of insolvency. However, this means could be abused under inadequate system, which may lead to transfer of financial risks to the government. U.S. has positive experience in warding against system abuse, which is of great implication to Chinese government faced with similar situation with securities companies.