Page 23 - 銀行家雜誌第71期

ୋʬdረʚٰ؇࿁຾ᐄ၍ଣ
චᄴ౤ԶܔԊʘᛆfϤуהፗ
ٙsay on payՓܓdٰ؇࿁׵
຾ᐄ၍ଣචᄴʘᑚཇኹϞʔՈ

ߒҼɢʘܔᙄᛆd္ଣዚᗫԨ
Ϟᛆʕ˟ږፄዚ࿴ʔ຅ʘᑚཇ
ࠇ೥f
ڐϋԸ਷ყග࿁׵̋੶ვБ
္ଣ఻ϓ΍ᗆd2011ϋֵ਷
ყږፄ္ຖձ՘ሜዚ࿴ږፄᖢ
֛։ࡰึ（Financial Stability ༺
қ
BoarddFSB）ක֐ӊϋʮ̺ ᅂ ྅
Όଢӻ୕ࠠࠅ׌ږፄዚ࿴Τ ΍ձᙣͦۃ͏ሜჯ΋ٙᐼ୕ਞ፯ɛʇ౷࿁ვБҷࠧ࿒ܓ̈ତͧ޷f
ఊ（Globally Systemically

I m p o r t a n t F i n a n c i a l ʇ౷j ࣩʊ຾ᜊ੻¨too big to fail©
InstitutionsdG-SIFIs）dΤఊʫ ࿁ვБҷࠧᜑତͧ޷࿒ܓ （TBTF）dᄣ૴ვБ຾ᐄࠬ
ٙږፄዚ࿴ਗ਼וዄ༰৷ٙ༟͉ ᎈdΪϤᏐ༈ࠅᄻৰદd˼Ν
ࠅӋf ᎇഹ2016ϋߕ਷ᐼ୕ආБ ࣛɰҭ൙ऊ൬٫ږፄڭᚐ҅ٙ
Ϥ̮dߕ਷਷ึ׵2011ϋ ڋ፯ཀ೻dߕ਷ږፄุ٫ɰක ΢ධ஝֛ᜫ͏଺࠾ג൲ᜊ੻һ
6˜ஷཀ̮਷੮˒೼ϗ፭੽ ֐ᗫء΢ࡉ፯ɛٙږፄ݁ഄd ѢᗭdΪϤ˼߰຅፯dਗ਼ࠠอ

ج‘dуהፗٙ˜٭դૢಛ™ ˸کə༆͊Ըߕ਷ִ݁ٙږፄ ᏨীვБҷࠧٙਂجf
（FATCA）dࠅӋΌଢ20ຬ࢕ ݁ഄਗΣf˸ͦۃ፯ઋԸ޶d ΍ձᙣ͏ሜ֢׵ჯ΋ٙࡉ
ږፄዚ࿴Σߕ਷਷೼҅ஷజऎ ͏˴ᙣ˴ࠅਞ፯ɛৰəҎזጶ ፯ɛגήପɽЖࡥॶhʇ౷
̮ߕ਷ɛٙږፄ༟ࣘdν؈ږ hݚ؍཭（Hillary Clinton）ʘ （Donald Trump）ۆ࿁ვБҷ
ፄዚ࿴ʔ፭੽dՉत֛ߕ਷Ը ̮d̤̮ᒔϞ5Зࡉ፯ɛd΍ ࠧᜑତ̈޴ʝͧ޷ٙ࿒ܓd˼
๕ה੻ਗ਼஗ߕ਷ִ݁ሙᅄ3ϓ ձᙣԉ஼ᐼ୕ᘒࢭٙɛۆ৷༺ ɓ˙ࠦႩމDodd-Frankجࣩɽ
ٙה੻೼f 15ଡ଼ɛ৵ʘεdᜑͪՉ૧ྮΫ Ͼʔ຅dִ݊݁ཀܓ၍Փٙ௰
߰Ύ̋ɪˋ෦ဧ՘ᙄIII࿁׵ ᐼ୕ᘒࢭٙΆྡːf ԳԷɿdШ˼ΝࣛɰႩމͿд
౤৷༟͉ቇԑଟٙࠅӋeڐϋ ˸ვБҷࠧٙᙄᕚԸ޶d΍ ဧ݊˼௰ؚሧٙᑌ๟ึ˴ࢩf

ԸΪމLIBOR዁છࣩʿිଟ዁ ձᙣɓΣ࿁ږፄุ༰މʾλd ࿁׵͏˴ᙣਞ፯ɛϾԊdҭ
છࣩd஗˴၍ዚ࿴ሙ˸̶ᕘၮ ΪϤՉ࿁ვБҷࠧٙ޶جd̙ ൙ശဧ൑ٙږፄ࢕Ϙʊʔ݊อ
ಛഃ࿁׵ʮ̡طଣٙһᘌࣸ஝ ˸ࡉ፯ɛۃНᖯԢ༺ψڗ௫̺ ᒻԫdΪϤ΢ࡉ፯ɛٙ݁Ԉ֐
ᇍdேԴ੻ږፄዚ࿴ٙ຾ᐄࠦ h̺Ҏ（Jeb Bush）ٙ޶جЪ ୞ᐑᔎίᆄˋ৵ִ݁ٙDodd-
ᑗһ৷ٙج஝ϓ͉f މ˾ڌd˼˴ੵDodd-Frankج FrankجࣩdԨ˲Ⴉމɽۨვ

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