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      • 您當(dāng)前的位置: 首頁(yè)-資訊-詳情

        世界簡(jiǎn)訊:Bipartisan politics real cause of banking woes: China Daily editorial

        2023-03-16 15:17:08來(lái)源:chinadaily.com.cn


        【資料圖】

        FDICrepresentativesLuisMayorgaandIgorFayermarkspeakwithcustomersoutsideoftheSiliconValleyBankheadquartersinSantaClara,California,US,March13,2023.[Photo/Agencies]

        ThecollapseofSiliconValleyBankintheUnitedStateslastFridayhassentshockwavesthroughtheglobalfinancialmarketsasinvestorsscrambletoweightheramificationsofthemeltdownofthelargestbanksincethe2008globalfinancialcrisis.

        TheclosureofSignatureBankonSundayfurtherfueledpanicoverthefinancialhealthofthecountry"sbankingsystem,evenaftertheJoeBidenadministrationtookemergencymeasurestoguaranteedepositsatbothbanks,withmajorUSbankslosingaround$90billioninstockmarketvalueonMonday,bringingtheirlossoverthepastthreetradingsessionstonearly$190billion.ThefactthattheUShasagainbecomeasourceoffinancialrisksthatposeathreattotheglobaleconomywillinevitablydiminishitsleadershipcredibility.

        ExpertshaveattributedSVB"scrashtoitsownmisjudgmentsandhighinflation.SVBloadeduponlong-termdebtsuchasTreasurybondsbettingonaprolongedperiodoflowinterest,onlytoseethevalueofthebondsdecreaseastheFederalReservekeptraisinginterestratestofighthighinflation.Newsaboutthehugelossesthebankhadsufferedeventuallycausedarunonthebank.

        Yetratherthanexploringwaystoimprovepolicycoordinationandregulationrelatedtothebankingindustryandplugloopholestopreventapossiblefinancialcrisisinthefuture,politiciansinWashingtonarenowengagedinapolarizedblamegame,withDemocratsandRepublicanspointinganaccusingfingerateachotherforthebankingwoes.

        DemocratsincludingBidenhimselfarguedthataDonaldTrump-erarollbackonbankoversightrulesunderminedthestabilityofregionalbanks,whileTrumpblamedBidenfor"abiggereconomiccollapsethantheGreatDepression".ThedeepeningbipartisandivisionhaspromptedCNNtobemoaninananalysisthat"America"sbiggestproblemisitspolitics,notitsbanks".

        TheUS"bankingfailuresshouldserveasawake-upcallforChineseregulatorstotightensupervisionofthecountry"sfinancialsectorandimprovefinancialconsumerprotection,ataskthathasgainedasenseofurgencyafterseveralsmallvillagebanksinHenanandAnhuiprovinceswerecaughtcommittingfraudlastyear,leavingthemoneyofmanydepositorsfrozenformonths.

        Inafirststeptowardthatdirection,areformplanapprovedbythecountry"stoplegislaturesuggestsanationalfinancialregulatoryadministrationistobesetuptostrengthenoversightofthefinancialindustry,withtheexceptionofthesecuritiessector.ThenewregulatorwillreplacethebankingandinsurancesectorwatchdogandbringsupervisionoftheindustryintoabodydirectlyundertheStateCouncil,China"sCabinet.Thatisexpectedtohelpimprovethesupervisionoffinancialinstitutionsandstrengthenconsumerprotection,pavingthewayforthecountry"shigh-qualitydevelopment.

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