金融机构破产中金融债权清偿的价值选择与规则构建  

Value Selection and Rule Construction of Liquidation of Financial Debt in Bankruptcy of Financial Institution

作　　者：闫晨 YAN Chen(East China University of Political Science and Law,Faculty of Economic Law,Shanghai 200042)

机构地区：[1]华东政法大学经济法学院,上海200042

出　　处：《西部金融》2022年第3期70-75,共6页West China Finance

摘　　要：在金融机构破产时,我国未设置金融债权如何清偿的规则。沿用现有普通商事企业的公平清偿的破产规则,容易引发金融市场的系统性风险;但是如果扩大适用金融合约安全港保护规则以及问题金融机构的国家救助规则,也会破坏金融市场的稳定和竞争秩序。因此,基于禁止逃债原则,防范系统性风险原则以及金融消费者倾斜保护原则,同时结合金融市场结算规则,构建金融债权清偿规则。其清偿的顺序,首先是场内交易的投资性金融合约,其次是储蓄型和契约型金融合约,最后是场外交易的投资性金融合约。When financial institutions go bankrupt in China,there are no rules on how to repay financial claims.It is easy to cause systemic risk of financial market to follow the bankruptcy rule of fair settlement of commercial enterprises.However,if the safe harbor rules for financial contracts and the national relief rules for troubled financial institutions are expanded,the stability and competition order of the financial market will be damaged.Therefore,based on the principle of the prohibition of debt evasion,the prevention of systemic risk and the protection of financial consumers,and combined with the settlement rules of financial market,rules of liquidation of financial debt are constructed.The order of repayment of creditor’s rights is the investment financial contract traded on the exchange first,then the savings and contractual financial contract,and finally the investment financial contract traded over the counter.

关 键 词：金融机构破产 安全港规则 国家救助 

分 类 号：F830.31[经济管理—金融学]