英美将出台国际性银行破产处置方案

US and UK regulators will today unveil the first cross-border plans to deal with failing global banks, outlining proposals to force shareholders and creditors on both sides of the Atlantic to take losses and to ensure that sufficient capital exists in the banks’ headquarters to protect taxpayers.

英美监管者今天将公布有关国际性银行破产处置的首批跨境处理办法，概述各项建议，旨在强制大西洋两岸的股东和债权人承担相关损失，并确保银行总部保有充足资本金，以保护纳税人。

Writing in the Financial Times, Martin Gruenberg, chairman of the US Federal Deposit Insurance Corporation, and Paul Tucker, deputy Bank of England governor, say this represents the first concrete steps to end the “too big to fail problem of international banks.

美国联邦存款保险公司(FDIC)主席马丁·格伦伯格(Martin Gruenberg)和英国央行(BoE)副行长保罗·塔克(Paul Tucker)在英国《金融时报》撰文表示，这是首次提出的旨在终结国际性银行“大到不能倒难题的具体化措施。

With Mr Tucker leading international efforts to devise emergency resolution plans, the US-UK template for their 12 large international banks will be a pattern for the 16 systemically important banks (GSifis) based in other countries.

由于塔克身为负责国际合作制定紧急清算方案的领头人物，英美此次针对两国12家大型国际银行的破产处置方案，将为总部位于其他国家的16家全球系统重要性金融机构(GSifis)提供一套参照方案。

“All countries share a very strong public interest in developing the capacity to resolve global systemically important financial institutions in a credible and effective way, the two bank regulators write.

这两位银行业监管者表示：“获取以可信和有效途径对全球系统重要性金融机构进行清算的能力，符合全球各国的公共利益。

The strategy paper says shareholders should expect to be wiped out and unsecured bondholders “can expect that their claims would be written down to reflect any losses that shareholders cannot cover, which did not happen when the US and UK had to prop up their international banks in the 2008 crisis. Senior management would be removed but critical business functions would continue and healthy subsidiaries could keep operating.

这篇战略性文章表示，在破产处置过程中，股东应做好被排除在外的准备，至于无担保的债券持有者，“可能需要做好债务被减记以反映股东不能完全承担损失的准备。在2008年金融危机之中，当英美两国政府被迫为各自的国际性银行提供支持时，并未出现上述情况。未来银行破产时，银行高级管理层将被解雇，但关键业务职能部门将得以延续，经营状况良好的子公司也可以继续运营。

The intervention would occur at international banks’ top-tier holding company level. This avoids “separate territorial and entity-focused insolvency proceedings, as happened in the Lehman Brothers bankruptcy.

政府干预将发生在国际性银行的顶层控股公司层面。这会避免“按照不同地域和实体分别实施破产程序的情形，就如雷曼兄弟(Lehman Brothers)破产时的处置办法那样。

The document states that since big US and UK banks do not currently hold sufficient debt and equity at the top of their group holding structures, regulators will need to take steps to address that.

这份文件中指出，鉴于目前大型英美银行在集团控股结构的顶层不具备充足的债权和股权资本，监管机构将有必要采取措施解决这个问题。