Throughout the history of financial regulatory reform in the United States, there has always been an imprint of history. In the history of the United States, there was an economic crisis every ten years or so, and the financial regulation of the United States was always able to adjust appropriately in the face of the crisis, thus making the financial regulation of the United States have a distinct era mark. In the subprime crisis, in 2009, the us government issued the plan of financial regulation reform, which was the biggest financial regulation reform since the 1930s. The reform of financial regulation has the potential to cause moral hazard. This is because the reform plan will put more emphasis on the regulatory role of the government. If the government increases the implicit guarantee to the large financial institutions, it may encourage them to choose the investment areas with more risk orientation, which will further lead to the increase of systemic risk. Moreover, the reform of financial regulation will give the fed broader powers. Because this reform is so different from the "liberal" economic ideology that the United States has always pursued, there is opposition at home. The financial regulatory reform in 2009, is based on the subprime crisis has had a huge impact, on the basis of this is paper tone of a blow to the market, further evidence that the financial regulation can not rely solely on the supervision of the market itself, and shall order the appropriate dependent on government regulation, but does not mean that the role of the government is omnipotent, but advocates of market regulation and government regulation. The financial regulation plan is the result of all parties' game, and the plan is also subject to great resistance, but the U.S. senate finally passed the plan in 2010.
China's current financial supervision system was formed in 2003. The three committees under the jurisdiction of the central bank exercise administrative supervision over the banking, insurance and securities sectors. With the gradual opening of China's financial market, the American financial regulatory system has a very important reference significance for China, and the process of learning from it is also a process of in-depth analysis of the American financial regulatory system.
The us subprime mortgage crisis has fully exposed the loopholes in the us regulatory rules and mechanisms, and the important reason for this failure is the lack of effective coordination mechanism in the us regulatory system. In order to overcome the regulatory loopholes caused by the dual-line multiple supervision model, the United States plans to set up a unified financial system to coordinate regulators, so as to make up for the deficiencies of the dual-line multiple supervision mechanism. The experience and lessons of the us subprime mortgage crisis also inspired me. China should also improve the regulatory coordination mechanism as soon as possible, and the three associations should have a coordinated link and function to give full play to the maximization of regulatory utility. It is necessary for China to establish a joint regulatory meeting mechanism among the three associations, and
