我国金融市场基础设施管理:现状、难点和立法路径  

China’s Financial Market Infrastructure Management:Current Situation,Difficulties and Legislative Paths

作　　者：朱小川 Zhu Xiaochuan

机构地区：[1]上海市法学会金融法研究会,上海200000

出　　处：《西南金融》2020年第4期12-21,共10页Southwest Finance

摘　　要：随着我国金融市场的纵深化发展,金融市场基础设施因其基础服务、系统性风险管理、辅助监管以及助力金融市场开放和营商环境完善等作用而日益受到重视,并成为现代金融治理和推动金融现代化的重要内容。但我国金融市场基础设施在运行和管理过程中却存在监管分散、制度空白、支持宏观审慎监管不力等情况,各方在相关概念和标准、统筹监管、恢复与处置安排等方面难以形成法律共识。为更好发挥金融市场基础设施作用,完善制度环境,我国应从金融市场基础设施的相关概念入手,明确其稳健运行所需的保障手段,完善统筹监管框架,有效衔接其他相关法律,并通过分步走的方式填补制度空白,提高立法层级。With the in-depth development of China’s financial market, financial market infrastructure has gotten more attention for its basic services, systemic risk management, auxiliary supervision, and assistance in opening up the financial market and improving the business environment, and financial market infrastructure has become an important part of modern financial governance and financial modernization. However, in the operation and management of China’s financial market infrastructure, there are situations such as decentralized supervision, institutional gaps, and inadequate supports for macro-prudential supervision. It is difficult for all parties to form legal consensus on related concepts and standards, overall supervision, and recovery and disposal arrangements. In order to better play the role of financial market infrastructure and improve the institutional environment, China should start with the relevant concepts of financial market infrastructure, clarify the safeguards needed for its stable operation, improve the overall regulatory framework, effectively link other relevant laws, fill the gaps in the system through step by step method, and improve the level of legislation.

关 键 词：金融市场基础设施 系统性风险 风险管理 金融治理 宏观审慎监管 金融安全 基础设施建设 支付结算系统 中央对手 银行间市场金融监管 金融科技 

分 类 号：DF438[政治法律—经济法学] D912.28[政治法律—法学]