글로벌 금융위기 후의 적기시정조치에 대한 새로운 논의와 개선방향 : 미국에서의 논의를 중심으로

Abstract

Government agencies for bank regulation and supervision in most countries typically preserve the special enforcement powers authorized by the law to prevent or remove any unsound and unhealthy practice or conditions and any infringements of law and regulations that can arise in the insured depository institutions. Out of those regulatory or supervisory powers of bank agencies, this article will review the prompt corrective actions (“PCA”) that can be taken by US bank regulators pursuant to the FDIA Section 38, emphasizing on the general principles of PCA, newly recognized problems during and after recent global financial crisis, and the reform proposals for the improvement of PCA. Dodd-Frank Act, in Section 202(g)(1)-(3) requires the Government Accountability Office (“GAO”) to issue a report on the evaluation of the effectiveness of PCA, among other things, especially regarding the least cost to the FDIC’s Deposit Insurance Fund (“DIF”) in resolving insured depository institutions. In addition, pursuant to Section 202(g)(4), FSOC should issue a report to Congress in which addressing the implementation of PCA by federal banking agencies. According to the GAO Report required by the law, the existing PCA did not successfully “prevent widespread losses to the DIF” as a consequence of the failure of banks that experienced PCA enforcement actions before failure”. The GAO Report suggested the FSOC and other bank agencies to consider the additional PCA triggers such as indicators of earning, asset quality, liquidity, reliance on unstable funding and sector loan concentrations, since the GAO study found that “capital can lag behind other indicators of bank health.” After consideration of the GAO Report, FSOC provided forum for US bank agencies, and FRB, with other federal bank agencies, issued Notices of Proposed Rulemaking (“NPRs”), which were approved as an “Interim Final Rule” on July 9, 2013. The interim final rules are composed of Basel III NPR, Market Risk rule, Standardized approach, and Advanced approached rule NPR. The PCA framework for insured depository institutions will also be changed to reflect the new measures in the interim final rules.