Weaving the financial security network financial stability guarantee fund has made new progress

21st Century Business Herald reporter Tang Jing Beijing report

The People's Bank of China Financial Stability Bureau published an article on the website of the People's Bank of China on September 26 with an article entitled "Preventing and Resolving Financial Risks and Powerful Financial Stability and Long -Effective Mechanism". The article pointed out that according to the relevant work deployment, in 2022, the People's Bank of China, together with relevant departments, accelerated the establishment of a financial stability guarantee fund. The fund is positioned in the central government to respond to major financial risks. The funds come from market entities such as financial institutions and financial infrastructure. They operate and cooperate with the double -layer operation and cooperation of deposit insurance funds and related industry security funds to jointly maintain financial stability and security. In major financial risk disposal, parties such as financial institutions, shareholders and actual controllers, local governments, deposit insurance funds, and related industry security funds shall be fully invested in the corresponding resources in accordance with the law. There is still a gap, and the financial stability guarantee fund is approved by the procedures. At present, the basic framework of the financial stability guarantee fund has been established, and it has accumulated certain funds.

Earlier, the Opinions on Implementation of the "Report on the Implementation of the Government Work Report" issued by the State Council stated that the relevant work of the financial stability guarantee fund raised will be completed by the People's Bank of China before September, and the relevant work will continue to advance within the year.

On July 21, the spokesman for the China Banking Regulatory Commission and the director of the regulations department, Xiang Xiang said at the press conference of the operation and development of the banking insurance industry in the first half of the year that the framework of the regulatory laws and regulations continued The fund basic framework was initially established, and the first batch of 64.6 billion yuan of funds was raised in place.

For major financial risk disposal for systematically influence

On March 5th, the 2022 government work report appeared for the first time "financial stability guarantee fund", which proposed to "compact local territorial responsibilities, department supervision responsibilities, and corporate subject responsibilities, strengthen risk early warning, prevention and control mechanism and capacity building, establishment of establishment Financial stability guarantee fund, use marketization and rule of law to resolve hidden risks, and firmly keep the bottom line that does not occur without systemic risks. "

On April 6, the People's Bank of China, together with the relevant departments, drafted the "Financial Stability Law of the People's Republic of China (draft draft draft)", and also clearly proposed the establishment of a financial stability guarantee fund as a national major financial risk disposal fund.

The central bank pointed out in the drafting instructions that drawing on international traffic, the fund is composed of funds raised from financial institutions, financial infrastructure and other subjects, and other funds stipulated by the State Council. Risk disposal. If necessary, public funds such as the People's Bank of China can provide liquidity support for the fund, and the fund shall repay the re -loan of income, income and industry charges. At the same time, it is clear that the State Council stipulates that the financial stabilization guarantee fund raises, management and use methods are clearly reserved for the role of the financial stability guarantee fund in the future. Financial stability protection funds and existing deposit insurance funds and industry security funds are operated and coordinated to further build my country's financial security network.

Sun Tianqi, Director of the Financial Stability Bureau of the People's Bank of China, said at a press conference in the first quarter of 2022 in the first quarter of the financial statistics data press conference that in order to further improve the long -term mechanism of financial risk prevention and control, the Party Central Committee and the State Council decided to establish a financial stabilization guarantee fund and specifically used for it for specially used it for specially used for it for specially used for it for specially used for it. Copy major financial risks with systemic influence. The financial stability guarantee fund is positioned in the reserve funds that respond to major financial risks by the central government. It is an important part of my country's financial security network with double -layer operation and cooperation with the deposit insurance fund and related industry security funds. Safety.

Sun Tianqi said that in conventional financial risk disposal, it is mainly invested by deposit insurance funds and related industry security funds in accordance with the law, and does not involve the use of financial stability guarantee funds. In major financial risk disposal Local governments, deposit insurance funds, and related industry security funds, etc., still have gaps after fully investing in the corresponding resources in accordance with the law, after approval, the financial stabilization guarantee fund is used in accordance with the procedures for major financial risk disposal.

Standard risk rescue methods to resolve hidden risks with marketization and rule of law.

CITIC Construction Investment Securities stated that since the 19th National Congress of the Communist Party of China proposed to prevent and resolve major risks, my country's overall risk level has declined, but the risks faced by the economic and financial sector are still large, and the uncertain factors in overseas markets have increased significantly. The impact on the financial market has been exacerbated and put forward higher requirements on my country's financial security. However, my country's existing risk disposal methods are relatively limited. Industry security funds are not enough to deal with major financial risks with systemic hidden dangers and rely on public funds. On the one hand, this approach has caused moral risks, forming a vicious competition environment in supervision, and on the other hand, it violates the principles of marketization and rule of law, and occupying public funds has also increased the burden on local finances and central banks. The establishment of a financial stability guarantee fund not only provides sufficient reserve funds for major risk disposal, but also reduces the burden of public finance, standardized risk rescue methods, and then achieves the long -term goal of "market -oriented and rule of law to resolve risks."

In accordance with the requirements of the "Financial Stability Law" marketization and the principle of rule of law, the financial risks of financial stability, financial stability guarantee funds are funding guarantee for major financial risks. The "Financial Stability Law" pointed out that the goal of maintaining financial stability is to ensure that the financial system continues to exert key functions, continuously improves the ability to resist risks and serve the real economy, and prevent local risk of individual local risk into systemic global risks. The bottom line of financial risks. To maintain financial stability, we must strengthen the management and control of risks and comprehensive supervision, deal with financial risks with the principles of marketization and rule of law, fairly protect the legitimate rights and interests of market entities, and prevent moral risks. The establishment of a financial stabilization fund is an indispensable market -oriented major risk disposal reserve fund to achieve the above goals.

Dong Ximiao, chief researcher at Zhailian Finance, told the 21st Century Business Herald reporter that my country has established a deposit insurance system, and some financial industries have also established some industry -based security funds, such as insurance security funds and trust industry security funds. The coverage of financial stability guarantee funds will be wider, which will help broaden the source of funds that prevent and resolve financial risks, and establish a more market -oriented mechanism for maintaining financial stability and financial risk disposal outside the deposit insurance system.

He pointed out that the financial stability guarantee fund will jointly build a more comprehensive and firm financial security network with insurance funds such as insurance and trust industry. The Financial Stability Law to write the financial stability guarantee fund will enable the financial stabilization guarantee fund to have legal effects, and the fundraising, management, and use will have laws, and at the same time, they can also clarify the duties of all parties. Financial stability guarantee funds may be part of the local governments, a part of the central government, and a part of financial institutions. These require laws to regulate it.

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