| 摘要: | 論文提要 「金融安全網」指的是金融危機處理機制中由政府提供財務援助的制度。由於金融產業中特有的系統風險，少數金融機構的經營失敗可能形成金融危機，引發銀行擠兌，甚至形成大規模的銀行恐慌，進而影響國家整體經濟環境及金融體系的運作；因此，面對金融機構經營失敗的危機處理，政府勢必要積極介入，減低金融機構經營失敗或金融危機對於整體金融體系的傷害。 由政府資金挹注而形成的金融安全制度，架設出了一張無形的「金融安全網」，以減少金融機構經營失敗對於整體金融環境以及存款大眾信心的衝擊，並提供了一個維持金融秩序穩定、保障存款大眾權益的美好願景；雖然政府挹注資金的型態或有不同，但本質上政府介入市場機制運作的行為模式卻是相同的。 本文的研究目的在於重新檢視政府架設「金融安全網」的立法目的；解析我國金融安全網法律的架構，參酌外國立法例，說明各種不同的法律機制在處理金融危機時所扮演的角色與其成效，並評論我國金融安全網在法律設計上之利弊得失，與「金融安全網」的存在對於整體金融秩序以及存款大眾權益的影響，最後進一步探討「金融安全網」制度的存廢，以期能對國內金融主管單位及立法機關提出具體的修法建議。 透過應用「制度變遷理論」與「法律經濟分析」的重新檢視，本文認為，金融主管機關應破除金融安全網迷思、促進市場資訊透明化、健全多元化金融市場，而非一眛地以財務援助經營失敗的金融機構。並提出四點修法芻議，分別是：一、存保公司應完全轉型為民營機構；二、建立銀行同業自律互助組織；三、嚴格限制政府財務援助範圍；四、重建市場機能監督制裁力量。藉以重新整頓我國整體金融環境，達到真正金融穩定、金融安全的政策目的。 Abstract “Financial Safety Net” is a system that financially supported by government in financial crisis process mechanism. Due to the contagion effect specialized in financial industry, a few bank failures might lead to financial crisis, a run on a bank, and even a massive banking panic. Further more, financial crisis would affect the whole country’s economical environment and the operation of financial system. Therefore, the government must intervene actively to reduce the harm from bank failure to the whole financial system. The financial safety system, which is formed by government’s funds, sets up an invisible “Safety Net” to lessen the impact on the whole financial environment and the depositors’ confidence caused by the managerial failure of the bank, and to offer a wonderful view that maintains financial stability and insures the depositors’ rights. Although the way the government fund may differ, the model of government intervening the marketing mechanism is essentially the same. The main object of this thesis is to re-examine the legislative purpose for the government to set up the “Financial Safety Net”. To analyze the legal structure of Taiwan’s financial safety net, the study compare some foreign cases to specify how and what different legal mechanisms do in handling financial crisis. To comment on the merits and demerits of Taiwan’s financial safety net in its legal structure, and the influence of financial order and depositors’ rights from the financial safety net. At last, the study further discusses the live or die of “Financial Safety Net”, and hope to bring forth some specific suggestions to financial and legislative authorities. Re-examining through the application of “Institution Changing Theory” and “Law Economic Analysis”, the study concludes that the financial authority should break the myth of “Financial Safety Net”, encourage the disclosure in market information, and establish the diversifying financial market, instead of blindly rescuing managerially failed banks. In addition, the thesis proposes four law-amending drafts to re-organize Taiwan’s financial environment, and to attain the goal of financial stability and financial safety. First, totally transferring Central Deposit Insurance Company to a private organization. Second, establishing the self-regulating organization in financial industry. Third, strictly limiting the condition of the governmental financial support. And fourth, re-building the function of marketing mechanism in financial industry. |
