隨著金融集團組織大型化，金融體系的系統性風險提高。為保護小額存款人及維持金融穩定，銀行安全網實有存在必要。然而銀行安全網的過度補貼也會助長道德風險的問題。理論上，如果銀行遵循法規的成本負擔等於或大於所得到的安全網總補貼，即銀行無法得到政府的實質淨補貼，則銀行安全網遭濫用的可能性將可有效降低。然而實務上，安全網補貼的金額及銀行遵循法規的成本負擔均不易量化估算。
在金融控股公司架構下，為防範銀行安全網遭濫用，可行的方法包括：控制銀行安全網的補貼於適當水準，監控防火牆阻隔利益輸送，健全金融集團體質，加強金融體系之公司治理與市場制約，以及強化金融監理等。我國規範金融控股公司防火牆的相關法規大致粗具，惟亟需加強者在於金融監理、公司治理、市場制約、與社會道德與法治觀念的提升。
為避免金融控股公司及其子公司引發系統性風險、道德風險及銀行安全網遭濫用，本文乃就央行扮演最後貸款者角色、央行扮演支付系統保證付款角色、存款保險及金融監理與法規四方面提出具體建議供金融主管機關決策參考，以期防範未然。 / The emergence of financial conglomerates has raised concern over the increasing systemic risk of financial systems. To protect individual depositors and maintain financial stability, the financial safety net is urgently needed. On the other hand, the financial safety net could provide excessive subsidies, thereby incurring moral hazard. Theoretically, if banks’ regulatory cost equals or outweighs gross subsidy from the financial safety net, real net subsidy banks receive from the government will be zero or negative. Then the possibility of abusing the financial safety net could thus be effectively reduced. In practice, however, neither subsidy from the financial safety net nor banks’ regulatory cost can be easily quantified.
Under the framework of financial holding companies, feasible ways to prevent abuse of the financial safety net include the following: (1) keep subsidy from the financial safety net at an appropriate level, (2) build a firewall to insulate illegal profiteering, (3) enhance the health of financial conglomerates, and (4) strengthen corporate governance and market discipline of financial systems, and (5) reinforce financial supervision. In the case of Taiwan, regulations related to firewalls of financial holding companies have been largely in place, while financial supervision, corporate governance, market discipline, morality and the rule of law need to be further emphasized.
To prevent the abuse of the financial safety net, this paper follows four perspectives: (1) the central bank as lender of last resort, (2) the central bank as guarantor of the payment system, (3) deposit insurance, and (4) financial supervision and regulation, and provides concrete suggestions to monetary authorities in devising preemptive measures.
| Identifer | oai:union.ndltd.org:CHENGCHI/G0090932204 |
| Creators | 楊蓁海, Young Jen-hai |
| Publisher | 國立政治大學 |
| Source Sets | National Chengchi University Libraries |
| Language | 中文 |
| Detected Language | English |
| Type | text |
| Rights | Copyright © nccu library on behalf of the copyright holders |
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