The Basic Logic and Path Selection for The Risk Resolution of Troubled Financial Institutions in China
The current risk resolution model of troubled financial institutions in China exhibits distinct administrative leadership characteristics in terms of resolution subjects,resolution concepts,resolution measures,and evaluation of resolution performance.The formation of this model is closely related to the superposition of many factors,such as the traditional power pattern and the con-cept of officials and the people,the related system of principle and fragmentation,and the governance logic of the central and local fi-nancial governance bodies,and has deep cultural and institutional roots.For a long time,although this model has played an important role in practice,it also faces challenges such as heavy governance burden,rampant moral risks,efficiency uncertainty,and low trans-parency.We should establish a market-oriented resolution system for troubled financial institutions under administrative guidance,and further improve the relevant systems from three directions:the optimal ratio of resolution costs and benefits,transparent informa-tion disclosure mechanisms,and sound accountability mechanisms.
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