宏观审慎监管

宏观审慎监管具有明显的反周期性特征。

The macro-prudential regulation is featured by counter-cyclical characteristics .

第三部分重点探讨了系统重要性金融机构的宏观审慎监管。

The third part mainly probes into the macro-prudential regulation of systemically important financial institutions .

在渣打银行（standardchartered），我们对宏观审慎监管的理念和金融政策委员会的成立非常支持。

At Standard Chartered we are very supportive of the concept of macroprudential regulation , and the establishment of the FPC .

宏观审慎监管的提出由来已久。

The macro-prudential supervision has been proposed for a long time .

对金融部门进行宏观审慎监管；

To take a macro-prudential view of the financial sector ;

第六章介绍了目前各国普遍实行的宏观审慎监管框架与基本原则。

Chapter VI describes the framework and basic principles of macro-prudential regulatory .

关于宏观审慎监管框架下逆周期政策的探讨

A Discussion about the Counter-cyclical Policy in the Context of Macro-prudential Supervision Framework

首先，应统筹考虑证券行业因素，构建国内金融业宏观审慎监管机制。

Firstly , build macro-prudential supervision mechanisms by taking comprehensive industry factors into the consideration .

但这并不意味着宏观审慎监管水平已经处于领先地位。

But it does not mean its ability of macro-prudential supervision is ahead of the world .

在操作层面，动态拨备制度是宏观审慎监管框架下引入的一种逆周期工具。

At the operational level , the dynamic provisioning system has been introduced as a counter-cyclical tool .

其中第五章介绍了次贷危机之后各界对金融监管的反思及对宏观审慎监管的认识。

Chapter V describes the reflection of the subprime mortgage crisis and understanding of the macro-prudential supervision .

因此，可以说宏观审慎监管无疑是当前金融实践领域最引人入胜的话题。

Therefore , we can say that the macro-prudential regulation is a most fascinating topic in the financial sector .

从现有研究来看，我国既有的宏观审慎监管工具、政策主要是针对相对较大的银行业金融机构制定的。

From the existing researches , the macro-prudential regulatory tools and policies have been formulated for relatively large banking financial institutions .

毫无疑问，只有从理论上率先对上述问题进行澄清才能为宏观审慎监管的实施开辟实践道路。

There was no doubt that only clarify these problems theoretically firstly pave a way for the implementation of the macro-prudential regulation practice .

宏观审慎监管之所以产生并受到重视，是因为发达国家银行监管在金融危机中的失败表现。

The macro prudent regulation is arising and taking seriously because of the failure of the developed countries ' banking regulation in the crisis .

本部分在分析微观审慎监管与宏观审慎监管的基础上，提出了宏观审慎监管的重要性，确认需加强系统重要性金融机构的宏观审慎监管。

So this part , based on the analysis of the micro-prudential supervision and macro-prudential supervision , puts forward the importance of macro-prudential regulation .

宏观审慎监管的重点包括合理的宏观调控、金融体制改革和结合我国特殊国情。

The importance of macro-prudential supervision includes sound macroeconomic regulation and control , the reformation of financial system and combing with our special conditions .

用术语来说，我们已从注重“微观审慎监管”转向更加注重“宏观审慎监管”。

In the jargon , we have moved from focusing on " microprudential regulation " to a much greater emphasis on " macroprudential regulation " .

为防范系统性金融风险，维护金融稳定，一国必须将宏观审慎监管纳入金融监管框架。

In order to prevent systemic financial risks and maintain the stability of financial system , macro-prudential supervision must be included in the financial regulatory framework .

中央银行应该和金融监管部门共同努力，积极培育良好的微观金融市场环境，构建宏观审慎监管体系，共同维护金融稳定。

They also should work together to foster a good environment for the micro-finance markets , build the Macro-prudential regulation system , and safeguard the financial stability .

最后根据我国金融系统中风险的特殊性，提出了我国宏观审慎监管实际中存在的问题。

Finally , according to the special nature of the risks in the financial system in China , the problem of the application of macro-prudential supervision is researched .

宏观审慎监管框架包含五个要素：宏观审慎监管的目标、系统性风险监测、影子银行体系、宏观审慎工具、制度安排和政策协调。

The macro-prudential regulatory framework consists of five elements : objectives , systemic risk measure , shadow banking system , macro-prudential instruments , institutional arrangements and policy coordination .

最后，在加强微观审慎监管的同时，注重宏观审慎监管的强化，以防范本国经济周期性波动或国外经济形势变化冲击的不利影响。

Finally , strengthened both of the micro-prudential supervision and macro-prudential supervision , which against the domestic economic fluctuations or reduce the adverse effects when foreign economic cyclical changes .

金融危机之后，国际金融体系改革的核心内容之一就是大力提倡对金融体系实施宏观审慎监管。

After the financial crisis , one of the core content of the international financial system reform is to vigorously promote the implementation of macro-prudential supervision of the financial system .

危机后审慎监管的理念得到了扩展，宏观审慎监管受到重视，并与微观审慎监管共同构成了审慎监管的两个主要方面。

After the crisis , the idea of the prudent regulation extended , the macro prudent regulation is taken seriously and becomes two main regulations with the micro prudent regulation .

最后，本文给出了完善货币政策分析框架、结合宏观审慎监管政策等防范资产价格波动和泡沫的政策建议。

Based on the result , we come up with according suggestion , such as to improve monetary analysis frame , to combine macro-prudential supervision policy , and so on .

加之，当前全球经济正处于后金融危机时代，加强宏观审慎监管，保障金融体系的稳定，成为多次金融危机后国际金融监管的共识。

Additionally , the current global economy is in a post-crisis era , strengthening macro-prudential supervision to ensure the stability of the financial system is the consensus of international financial regulation .

在加拿大央行，卡尼已经在监督新一任英国央行行长所需处理的所有关键领域：货币政策、审慎监督、宏观审慎监管以及金融市场。

At the Bank of Canada he has overseen all the key areas the next governor must deal with : monetary policy ; prudential supervision ; macro-prudential regulation ; and financial markets .

总之，金融形势十分严峻，虽然说该状况在一定程度上是受国际金融危机的影响，但是实施宏观审慎监管仍然刻不容缓。

In short , the financial situation is very grim , although in certain extent the situation is effected by the international financial crisis , but the implementation of macro-prudential supervision is still urgent .

一般而言，宏观审慎监管的框架包括宏观审慎分析、宏观审慎工具选择、与货币政策的协调以及宏观审慎监管治理结构的建立和完善等方面。

In general , macro-prudential framework includes macro-prudential analysis , macro-prudential tool selection , the coordination of monetary policy and the establishment and improvement for the governance structures of macro-prudential supervision and and so on .