은산분리에 대한 몇 가지 논점 : 미국의 경험과 감독기구 기능을 중심으로
A Few Issues on the Separation of Banking and Commerce with Focus on the US Experience and the Function of Financial Supervisory Authorities
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본 논문의 목적은 은산(銀産)분리와 관련된 미국의 제도적 변천과정을 살펴보고 이를 통해 제기된 주요 논점을 정리함으로써 한국에서의 관련 논의를 위한 정책적 시사점을 얻고자 하는 데 있다. 본 논문에서는 특히 금융기관 가운데서도 은행과 비금융회사를 분리시키는 은산분리 문제에 초점을 두고 있다. 이를 위해 미국의 금융제도와 관련된 여러 예를 통해 미국의 은산분리 원칙이 지키고자 한 정책목표로서, 과도한 경제력 집중 방지, 금융시스템 안정성 유지 및 이해상충 방지 등이 존재했었다는 사실을 파악한다. 특히 미국에서 은행 정의상의 문제, 금융 감독 체계, 그리고 산업대부회사의 존재 등에서 존재했던 은산분리 관련 규제허점이 이러한 원칙을 준수하도록 계속 보완되어 왔다는 사실을 제시한다. 또한 추가적으로 미국의 은산분리 관련 제도를 해석하는 데 있어서 유의할 부분도 함께 제시한다.
Abstract
The objective of this paper is to examine the structural changes related to the separation of banking and commerce in the US and summarize the main issues that can provide important policy implications for Korea. We focus mainly on the separation of banks with other financial institutions and non-financial institutions. This research indicates that the policy goals of the principle of separation of banking and commerce are the prevention of excessive economic concentration, maintenance of stability in the financial system and the deterrence of conflicts of interests. Specifically in the case of US, we illustrate that this principle was consistently upheld by taking complementary measures to fix regulatory loopholes that were evident in the definition of banks, financial supervisory system, and the existence of ILCs(Industrial Loan Companies). Additionally, we present information that will be useful for understanding how the system of separation of banking and commerce works in the US.
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