This year, Europe and the global financial regulatory reform since the financial crisis has made the breakthrough, also marks the global “macro-prudential” regulatory system has evolved.

United States and Britain: From the “decentralization” to “authoritarian”

30 years since the 20th century known as the “Great Depression” has been America’s most extensive and most severe financial system reform bill, the global financial regulatory reform for the leading role should not be overlooked.

Reform attempts to solve the “too big to fail”, the end of the taxpayers own money to aid the overall economy of the systemic risk of financial institutions. It is noteworthy that this reform will be the Fed’s permission to further “upgrade” to allow the Fed to support the entire financial system rather than to help individual companies.

Coincidentally, the United Kingdom in June this year, also announced a “learned history lessons of the most serious financial crisis and the establishment of the new regulatory system.” The focus of this reform is to give the Bank of England – Bank of England greater powers to the banking regulatory system had spread to the central bank’s focus on “under the same roof.”

City of London Policy and Resources Committee Chairman Fu thinking passers-by (Stuart Fraser) In an interview with “Business News” interview, said that from the U.S. and British regulatory reform, the global financial regulatory system tends to focus on the financial regulatory authority to the central bank, such a reform The purpose is to increase the efficiency of communication between various departments to reduce the required communication procedures.

EU: Super sovereignty macroprudential

An important objective of macro-prudential risk is to prevent different regions, countries, markets and institutions to pass. As the world’s most important regional economic body, the pan-European financial regulatory framework is within the sovereignty over the important practice of prudent macro model.

Under the reform program, the EU will set up a new “Council for a three,” to strengthen the EU level of financial supervision and risk prevention.

At the macro level, the EU will establish a “Committee of systemic risk in Europe.” Responsible for the entire financial system, macro-prudential regulation, monitoring the EU financial markets may be macro risk, timely early warning and, where necessary, proposals should be taken. The members of the EU member states by the composition of central bank governors.

The micro level, in major financial industry has set up three EAA – European Banking Bureau, Bureau of European Insurance and Occupational Pensions Board and the European securities and markets.

Global: Pakistan Ⅲ comprehensive upgrade of “deleveraging”

September 12, the Basel Committee on Banking Supervision (the “Basel Committee”), management meeting held in Basel, Switzerland, the Conference adopted the much strengthened banking system and capital requirements of the reform program, namely, Basel II Ⅲ, a reform of the global financial crisis core. The results will be presented to the upcoming November the Group of Twenty (G20) summit in Seoul to consider.

Basel Committee’s reform package of the most important changes include: the ordinary shares of a minimum capital ratio from 2% to 4.5%; It also requires banks to establish a capital of 2.5% retained buffer. This means that the bank required to hold the general requirements of a capital ratio to 7% increase.

Lingyou one is called “counter-cyclical cushion” of capital requirements, the new buffer ratio of common stock or other can entiry”absorb” loss of capital, 0 to 2.5%. “Counter-cyclical buffer” is based on a wider range of macro-prudential objectives – requiring banks to the credit over the case of adequate contingency planning.

Global Association of Risk Professionals (GARP) Cleveland branch president, associate professor of finance at Case Western Reserve University, Anurag Gupta recently in an interview with this reporter, said: Basel II is the most important change Ⅲ improve capital ratios and the introduction of the “counter-cyclical “Capital requirements.

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