The study on the Reform of the American Financial Supervisory Systems from the International Financial Crisis

本研究是以美國房屋次貸市場事件為出發點，系統性地回朔整理美國制訂的金融監理架構金融機構的關聯性，加上全球化的擴張效應，促使美國的次級房貸危機蔓延為全球性的金融風暴；美國政府面對風暴時，除了即時的紓困方案與機制，美國政府也重新檢視金融體制的本位，訂定有效性的金融規範與法令。 本研究以金融機構營運的本質，與金融機構營運的控制機制與共通指標--巴塞爾協定，對應美國新金融監理制度進行論述，及美國金融業與監理制度之未來挑戰，進行相關研討與分析。 本研究發現金融海嘯呈現美國的金融體系透明度的不足，雖然新的金融監理制度與規範都有其詳盡的規範，但金融從業者的誠信與自律才是真正關乎金融體質的良莠。在全球化以為必然的趨勢下，各國的經濟息息相關，為經濟生態長遠而穩健的發展，是全球化的金融市場需要全球化金融監管的規則和合作，由金融危機改革的新制度與規範，透過國際金融體系與巴賽爾國際金融組織透過全球化的路徑，對金融環境與體制有其微妙而漸進的調整，這對國際的經濟環境都有良好而健康的發展。The study begins with the American subprime mortgage loan market event and systematically traces back to arrange the relationship between the financial surveillance framework set up by the U.S.A. and the financial institute. Expansion effect of globalization makes the American subprime mortgage loan crisis spread to be the global financial crisis. In facing the crisis, in addition to the immediate bailout scheme and mechanism, the American government also checks its own work of the financial system again to establish effective financial specification and the ordinance. The study discusses the American new financial surveillance system and conducts a relevant research of and makes an analysis of prospective challenge of the American financial industry and surveillance system using nature of financial institute operation, control mechanism of financial institute operation and the common index, Basel accord. The study finds that the financial tsunami presents transparence deficiency of the American financial system, although both the new financial surveillance system and specification have their detailed specification, but good faith and the self-discipline are the very factors involving the good and the bad of the financial proprietors. Globalization has become a necessary trend, and the economy of every nation is highly related with each other. With a view to long and stable development of the economic ecology, the financial market of globalization needs the global financial surveillance and management rule and cooperation and makes delicate and gradual adjustment to the financial environment and system from the new system and specification of financial crisis revolution via the international financial system and globalization path used by Basel international financial organization, which has excellent and healthy development for the international economic environment.目錄 第一章 緒論 ........................................ 1 第一節 研究動機與目的..................................1 第二節 研究架構與內容..................................9 第三節 研究途徑與方法.................................12 第四節 研究範圍與限制.................................17 第五節 相關文獻探討.... ..............................18 第二章 美國金融危機的成因與影響.......................31 第一節 美國次級房貸的發展與問題....................... 32 第二節 金融全球化與金融危機........................... 43 第三節 美國政府的融資與紓困 ...........................48 第三章 美國投資銀行倒閉之成因.........................51 第一節 投資銀行的背景與演進............................52 第二節 投資銀行的問題與金融危機....................... 59 第三節 美國政府的因應措施..............................64 第四節 美國的經濟政策之評析............................76 第四章 全球金融危機對美國金融監理之衝擊及分析........ 81 第一節 金融監理簡介................................... 81 第二節 美國金融體系與金融監理制度演進................. 85 第三節 美國金融監理體系之探討..........................93 第四節 金融危機對金融監理的改革........................101 第五章 新巴塞爾協定與美國金融監理........ ............107 第一節 新巴塞爾協定....................................107 第二節 巴塞爾資本協定因應全球金融危機之改革措施........114 第六章 結論. ..........................................123 第一節 研究發現........................................123 第二節 未來展望........................................126 參考書目 ..............................................12