存款保险与总损失吸收能力监管协调研究——基于存款保险基金计入TLAC的视角  

A Research on the Harmonization of Deposit Insurance and Total Loss-Absorbing Capacity Regulation——Based on the Perspective of Including Deposit Insurance Funds in TLAC

作　　者：陈卫东[1] 熊启跃[1] 杜阳 CHEN Weidong;XIONG Qiyue;DU Yang

机构地区：[1]中国银行研究院

出　　处：《金融监管研究》2024年第5期4-22,共19页Financial Regulation Research

基　　金：存款保险基金管理公司委托课题“存款保险基金计入TLAC参与系统性风险处置的研究”的阶段性研究成果。

摘　　要：总损失吸收能力(TLAC)监管要求的实施,对全球大型银行经营行为产生了重要影响。存款保险基金计入是TLAC监管框架中的重要制度安排,对全球系统重要性银行(G-SIBs)实现TLAC达标、完善恢复与处置计划和提升风险处置效率具有重要意义。本文研究了全球大型银行的TLAC达标策略,测算了存款保险基金计入对中资G-SIBs带来的TLAC提升效应,并分析了存款保险基金计入对G-SIBs恢复与处置计划的潜在影响。本文研究结果表明,在G-SIBs实现TLAC达标过程中,分子策略和分母策略在不同阶段均发挥了重要作用。存款保险基金计入有利于推动中资G-SIBs实现TLAC达标,强化其在中资G-SIBs风险处置中的关键作用,降低中资G-SIBs在资本和流动性恢复阶段的资金成本,提升处置效率。当前,我国需要从确立存款保险基金处置地位、完善存款保险基金后备融资机制和丰富处置工具等方面入手,完善配套机制,促进中资G-SIBs实现TLAC达标。The implementation of Total Loss-Absorbing Capacity(TLAC)has had a significant impact on the operational behaviors of large banks globally.The inclusion of deposit insurance funds is a crucial institutional arrangement within the TLAC regulatory framework.This inclusion is of great significance for Global Systemically Important Banks(G-SIBs)to achieve TLAC compliance,improve recovery and resolution plans,and enhance the efficiency of risk resolution.This paper investigates the TLAC compliance strategies of global large banks,calculates the impact of including deposit insurance funds on the TLAC enhancement for Chinese G-SIBs,and analyzes the potential effects of including deposit insurance funds on the recovery and resolution plans of G-SIBs.The research findings indicate that in the process of G-SIBs achieving TLAC compliance,both numerator and denominator strategies play important roles at different stages.The inclusion of deposit insurance funds is conducive to promoting TLAC compliance for Chinese G-SIBs.The inclusion strengthens the crucial role of deposit insurance funds in the risk resolution of Chinese G-SIBs,reducing the cost of funds in the capital and liquidity recovery phases and enhancing resolution efficiency.Currently,China needs to establish the position of deposit insurance funds,improve the backup financing mechanism for deposit insurance funds,and enrich resolution tools.These measures will contribute to the improvement of supporting mechanisms and facilitate Chinese G-SIBs in achieving TLAC compliance.

关 键 词：全球系统重要性银行 总损失吸收能力 存款保险基金 系统性风险 

分 类 号：F830.1[经济管理—金融学]