은행규제 개편의 방향:주요국 은행규제 개편의 비교법적 검토

Abstract

The global financial crisis that derived from the subprime mortgage market of America has resulted in reform of regulation of financial institutions in major countries. Financial regulatory reform has been specifically conspicuous in America and England because the financial crisis was rooted in the financial market of two countries. First, the Housing and Economic Recovery Act of 2008 passed in America. Then, as the financial crisis that basically resulted from the subprime mortgage loans has greatly worsened, Congress passed the Emergency Economic Stabilization Act of 2008. According to the Emergency Economic Stabilization Act of 2008, the Troubled Assets Relief Program was made. Second, the Department of Treasury issued the Financial Regulatory Reform-A New Foundation: Rebuilding Financial Supervision and Regulation in June of 2009. On the basis of the Financial Regulatory Reform, the Dodd-Frank Wall Street Reform and Consumer Protection Act(the Dodd-Frank Act) was enacted in July of 2010. Third, the Dodd-Frank Act greatly changed the financial supervision and regulation system in America. According to the Dodd-Frank Act, the Financial Stability Oversight Council is established. In addition, the Bureau of Consumer Financial Protection, the Federal Insurance Office, and the Investor Advisory Committee are newly established. Furthermore, credit rating agencies, OTC derivatives, and proprietary trading of banks should be greatly regulated and supervised under the Dodd-Frank Act. Also, financial regulation system has been reformed in England. First, the Banking Act of 2009 was made to achieve financial stability. Under the Banking Act of 2009, powers of the Bank of England was greatly strengthened and the Financial Stability Committee was newly established within the Bank of England. Second, in March of 2009 the Financial Services Authority(FSA) published the Turner Review that contains various financial regulatory plans. Lastly, according to the financial regulatory reform of the UK Government of June of 2010, FSA will be abolished and functions of FSA will be transferred to the Bank of England. In case of Korea, it is necessary to obtain financial stability and protect financial consumers. In this connection, the financial regulatory reform should be proposed to reform the financial regulation system of Korea. Much emphasis on financial stability and protection of financial consumers should be placed in respect of the financial regulatory reform.