The Reform Direction of Baselii Accord under Subprime Crisis and the Inspiration to China
|Keywords||New Basel Capital Accord Subprime mortgage crisis Risk Management Financial regulatory reform|
Since the implementation of the 1988 Basel Accord (Basel Ⅰ), it has gradually become the internationally accepted rules of competition in the banking sector has played an irreplaceable role in banking supervision and crisis prevention. Meanwhile, in the face of the financial crisis of a different scale process, the Basel Accord failed to fully play the expected role of its value and the validity of the controversy. The new Basel Capital Accord (Basel Ⅱ) also failed to get rid of the fate of the controversial, the outbreak and spread of the sub-sub-prime crisis has increased over this questioning rethink Basel Ⅱ also came into being. Ⅰ compared in Basel, Basel II bank capital regulation and risk control level has greatly improved, but there are still many to be the perfect place. This will combine the subprime crisis macroeconomic background, detailed and in-depth analysis of the the Basel Ⅱ in the subprime mortgage crisis exposed deficiencies and lack. Subprime mortgage crisis, the Basel Committee to take a variety of responses, and in September 2010 issued a new framework of Basel Ⅲ. This article will be on the basis of the Basel Committee's reform measures, Basel perfect refinement recommend more targeted, so this article make analysis and discussion closer to the era hot. This article main body portion includes four sections. Chapter overview new Basel Capital Accord (Basel Ⅱ) the main content and make improvements with respect to the old Basel (Basel Ⅰ), as discussed below, the theoretical basis; Chapter II outlines the outbreak of the U.S. subprime mortgage crisis the process, in this context, in-depth analysis of the New Basel Capital Accord (Basel Ⅱ) exposes the flaws and shortcomings, mainly bank transfer of risk has never been an effective response, lack of supervision on the part of financial institutions, the lack of focus on systemic risk, existing risk measurement model has limitations and disclosure of information for less than five concrete expansion; Chapter Basel Committee in the post-crisis measures taken in response to the study, combined with the the Basel Ⅱ pointed out the shortcomings and deficiencies in the Chapter, the improvement of the Basel Ⅱ targeted refine recommendations to strengthen capital regulation to raise standards and expand the regulatory coverage, and other measures to improve the information disclosure; final chapter, summarizes the progress of implementation of the Basel agreement in China based on a comprehensive understanding of the Basel Ⅱ and the difficulties encountered. analysis of the Basel Committee on regulatory reform measures to improve banking supervision in China's revelation. In addition, Basel Ⅲ after the crisis was promulgated to start from the two pillars to raise the capital adequacy ratio and supervision and inspection efforts the its regulatory philosophy more inclined to supervision to prevent risks, and more attention to the quality of a bank's capital and defense cyclical risk. This article from our implementation of Basel Ⅱ of progress and facing the opportunities and challenges of starting, forecast Basel Ⅲ of implementation will our financial regulatory generate the impact and depth to explore how the IRB perfect credit risk control, and how to promote the market risk internal model method of application The preliminary study of the operational risk measurement model, as well as promote the stress scenarios to test applications and other issues in the country, thus combining foreign advanced theory and practical experience with the real situation of China's banking industry, and further deepen the theme of this article.