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The next crisis

机译:下一场危机

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There is always a bright side. To date, the banks that have imploded as a result of the credit crunch have been largely domestic. It has been clear from the start which national authority is responsible for clearing up the mess. The remarkable rescue of Bear Stearns by the Fed over a single weekend is testament to what a determined regulator can achieve. If a large international bank went belly-up, things would be far murkier. "So far we've been lucky," says the chairman of one national regulator. "There is no formal framework for solving a cross-border crisis."rnIt may not be entirely down to luck: banks operating in just one country are more likely to get into serious trouble than ones with an international spread of business. But the crisis may encourage more banks to diversify across borders, so the question of how the authorities would work together if a big bank were to fail will become more pressing.rnWhen things are going well, dialogue is relatively easy. Bilateral relationships between home regulators (who have primary responsibility for supervision) and host regulators are generally healthy. In Europe, the Committee of European Banking Supervisors has been running a project for a handful of cross-border banks in which their principal regulators have formed supervisory colleges to share information and conduct joint inspections. There is much more of this sort of thing to come.
机译:总会有光明的一面。迄今为止,由于信贷紧缩而破产的银行基本上都是国内银行。从一开始就很清楚哪个国家的主管部门负责清理混乱。美联储在一个周末内对贝尔斯登的惊人救助证明了坚定的监管者可以实现的目标。如果一家大型国际银行破产,事情将变得更加黑暗。一位国家监管机构的主席说:“到目前为止,我们很幸运。” “没有解决跨境危机的正式框架。”它可能并不完全靠运气:在一个国家经营的银行比在国际上开展业务的银行更有可能陷入严重麻烦。但是危机可能会鼓励更多的银行跨境多元化,因此,如果一家大银行倒闭,当局将如何共同努力的问题将变得更加紧迫。当事情进展顺利时,对话相对容易。房屋监管机构(主要负责监管)与东道国监管机构之间的双边关系通常是健康的。在欧洲,欧洲银行业监督委员会一直在为少数跨国银行开展一个项目,在该项目中,其主要监管机构已成立了监管学院,以共享信息并进行联合检查。这类事情还有很多。

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    《The economist》 |2008年第8580期|25-26|共2页
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