Direction of Reform of China s Deposit Insurance System 5

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Based on the review of the theory of deposit insurance system, this paper analyzes the necessity and feasibility of establishing a deposit insurance system, and mainly studies the construction of China's deposit insurance system.

On the issue of building China's deposit insurance, the model, countermeasures and suggestions of China's deposit insurance system are proposed. Including the establishment of a special deposit insurance institution, the adoption of a deposit insurance financing model jointly funded by ** and banks.

In this paper, this paper analyzes the current situation and problems of China's deposit insurance system and puts forward countermeasures, in order to provide reference for the next step of reform and improvement of China's deposit insurance system.

The deposit insurance system refers to a system in which various types of depository financial institutions are pooled together to establish an insurance institution, and each depository institution pays insurance premiums to the depositor as an insured person according to a certain proportion of deposits, establishes a deposit insurance reserve, and provides financial assistance to the member institutions or directly pays part or all of the deposits to the depositors when the member institutions have a business crisis or face bankruptcy and collapse, so as to protect the interests of depositors.

1. At the Fourth National Financial Work Conference in early January 2012 and Zhou Xiaochuan, governor of the central bank, they both proposed that we should pay close attention to studying and improving the deposit insurance system, and take the opportunity to introduce and organize the implementation. [4] On July 16, 2012, the People's Bank of China (PBoC) stated in its 2012 China Financial Stability Report that the time was basically ripe for China to introduce a deposit insurance system. [5] In the same month, a report entitled "The Urgent Need to Establish a Deposit Insurance System" was submitted to policymakers.

In 2013, the People's Bank of China (PBOC) released the 2013 China Financial Stability Report, stating that all the conditions for the establishment of a deposit insurance system had been met, and an internal consensus had been reached.

2. In January 2014, the People's Bank of China (PBOC) stated at the PBOC work conference that the preparations for the deposit insurance system were basically ready; As an important part of China's comprehensive financial reform, the deposit insurance system is likely to be launched in 2014. [7] On March 11, PBOC Governor Zhou Xiaochuan said that deposit rates are likely to be liberalized in 2014 or 2015; Zhang Monan believes that an important premise is the establishment of a deposit insurance system with a financial protection net that promotes the marketization of deposit interest rates.

3. On November 27, 2014, the People's Bank of China held a televised conference on the work of the national deposit insurance system within the system, and the leaders of the provincial branches attended the meeting in Beijing. The study is scheduled to launch a deposit insurance system in January 2015. On the 30th, the Regulations on Deposit Insurance (Draft for Comments) was promulgated, which stipulates that deposit insurance shall be subject to a maximum reimbursement limit of RMB 500,000.

4. In January 2015, the public consultation of the China Deposit Insurance Regulations was successfully completed, and all preparatory work before the promulgation of the system was completed, and the deposit insurance system may be put into effect after the relevant approval procedures have been completed in accordance with the regulations.

5. Since May 1, 2015, the deposit insurance system has been officially implemented in China, and all banks have paid insurance premiums to insurance institutions, and in the event of a bank crisis, insurance institutions will provide depositors with a maximum compensation of 500,000 yuan.

The Third Plenary Session of the 18th CPC Central Committee will start a major reform of the financial system, and the establishment of a deposit insurance system will become an incision. The establishment of a deposit insurance system is a prerequisite for promoting deeper financial reforms, and will help to withstand the risks arising from them. This move is expected to be high on the list of policy plans of the Chinese leadership and will be the key to China's establishment of a market-oriented bank.

At the Third Plenum of the 18th Central Committee of the Communist Party of China, China's leadership will present a core reform framework to guide decision-making over the next decade. This meeting will be the most important Third Plenum since 1978, when China embarked on the road of economic reform and opening up. The importance of this meeting lies in the fact that China is at an inflection point that China's leaders cannot ignore.

The Third Plenary Session of the Eighteenth Split Sen Pure Session is of epoch-making significance. The meeting will make major changes to China's economic policy, especially to the export-oriented economic development model, which will involve the free circulation of land and allowing private capital to engage in banking and financial business. These measures will greatly stimulate the domestic market, which in turn will drive the country's economic development with a population of 1.3 billion.

Legal analysis: the so-called deposit insurance, refers to the deposit of the banking financial institutions (collectively referred to as the insurance institutions) to pay premiums to form deposit insurance, when the operation of the insurance institutions problems, deposit insurance management rubber chain institutions in accordance with the provisions of the use of deposit insurance to the depositors for timely repayment, and take necessary measures to maintain the deposit and deposit insurance system of security.

Legal basis: The premium of deposit insurance in the "Deposit Insurance Regulations" shall be paid by the insured banking financial institution, and the depositor does not need to pay. The premium consists of two parts, the base premium and the risk differential premium.

The rate standard shall be formulated and adjusted by the deposit insurance management agency, and shall be implemented after reporting to the deposit insurance management agency. Premiums are paid every six months.

The so-called deposit insurance, refers to the deposit of the banking financial institutions (collectively referred to as the insurance institutions) to pay premiums to form deposit insurance, when the insurance institutions have problems in operation, the deposit insurance management agency in accordance with the provisions of the use of deposit insurance to the deposit of the wheel banquet payers for timely repayment, and take necessary measures to maintain the deposit and deposit insurance security system.

Legal basis: Deposit Insurance RegulationsThe premium of the deposit insurance is paid by the insured banking financial institution, and the depositor does not need to pay. The premium consists of two parts, the base premium and the risk differential premium.

The rate standard shall be formulated and adjusted by the deposit insurance management agency, and shall be implemented after the approval of the depository insurance institution. Premiums are paid every six months.

Summary. The advantage of the deposit insurance system is to prevent financial risks and stabilize a country's financial system, but the disadvantage is that it makes depositors' risk awareness decline. The deposit insurance system is conducive to preventing financial risks and stabilizing a country's financial system.

In the context of economic and financial globalization, the turbulence in the international financial market has intensified, and financial turmoil has occurred frequently. The favorable factors of the deposit insurance system include: improving the stability of the financial system, helping to prevent financial risks, and maintaining normal financial order.

It is conducive to protecting the interests of depositors and enhancing bank credit.

The advantage of the deposit insurance system is to prevent financial risks and stabilize a country's financial system, but the disadvantage is that it makes depositors' risk awareness decline. The deposit insurance system is conducive to preventing financial risks and stabilizing a country's financial system. In the context of economic and financial globalization, the turbulence in the international financial market has intensified, and financial turmoil has occurred frequently.

The favorable factors of the deposit insurance system include: improving the stability of the financial system, helping to prevent financial risks, and maintaining normal financial order. It is conducive to protecting the interests of depositors and enhancing bank credit.

Disadvantages: The existence of the deposit insurance system has made depositors less risk-conscious, especially after the realization of interest rate liberalization, they may deposit their money in banks that are willing to pay the highest deposit interest regardless of the bank's operational risks; On the other hand, the risk restraint mechanism of commercial banks.