美国银行业破产模式变化趋势及其启示

在美国,一般企业的破产主要表现为兼并与收购,遵循的是一种市场驱动的事后破产模式:而商业银行的破产过程则由金融监管部门主导,表现为一种由行政管制驱动的事前破产模式.这两种破产模式在破产适用法规、破产目标、主导者、破产程序等方面存在异同.目前由于市场竞争的发展和银行公司治理结构的改变,美国银行业兼并收购开始盛行,有向事后破产模式转变的趋势.中国银行业的公司治理和银行破产法制定亦可从中得到若干重要启示.

The Changing Trend of Bankruptcy Mode for American Banking Industry and its Enlightenment

In America, the bankruptcy of general enterprises is reflected by merger and acquisition, which confirms to the ex post bankruptcy mode driven by market. But the process of bankruptcy for commercial banks is dominated by financial supervising administration, representing the ex ante bankruptcy mode driven by administrative management. At present the merger and acquisition begins to be prevalent in American banking industry and tends to become the ex post mode. This paper discusses the similarities and differences between the applicable laws, objectives, sponsors, and so forth, demonstrating the economic reason for the bankruptcy mode of American banking industry. The corporate governance of Chinese banking industry and the establishment of bankruptcy law for Chinese banks can also obtain some important enlightenments.