위기 이후 투자은행 규제 변화와 국내 금융회사 시사점

Abstract

This report examines the domestic and foreign regulatory trends related to investment banks since the global financial crisis and sought to revitalize domestic investment banks in terms of regulations. In order to mitigate the systemic risk in the overseas major regions after the crisis, banks should restrict the diversification of the securities business to limit the risk transfer and strengthen the protection of depositors. In order to control excessive credit expansion, And strengthened regulations on product operation. However, in order to create synergies among affiliates, there were no changes in the regulations on executive officers and information sharing, and the overall regulatory level was kept lower than that of deposit banks, while maintaining creativity and vitality in the capital market. On the other hand, in Korea, the separation of banking and investment banking business is well done through the financial holding company, but the structural separation of the business is still unclear, as banks and securities companies are allowed to operate high risk products within a limited range . This is because the scale of the deal is not so large and the effectiveness of the regulation is low. However, in the mid- to long-term, it is necessary to establish a management system for systemic risks in line with global trends. On the other hand, executive positions and customer information are suffering from difficulties in supporting the creation of synergies among affiliates due to the high level of restriction compared to overseas regulations. It is also placed for the purpose of establishing a financial holding company. Especially, the entry barriers and prudential regulations are so high that the establishment of various and specialized investment banks and the growth of the investment banks are likely to be hindered. Therefore, the deregulation to encourage creativity and vitality of the market needs to be actively reviewed.