A Study On Designing a Financial Supervisory Institution in Taiwan

This paper investigates world trends in financial supervision, including the separation of treasury and finance and the shift from departmental regulation to functional regulation. Based on the trend toward integration in financial supervision and examination, this paper proposes the adoption of a functional approach to financial supervision and the problems that may occur when we restructure the financial supervisory framework in Taiwan. This paper also discusses various financial supervisory institution models and weighs their advantages and disadvantages. Finally, it advances other issues concerned with the restructuring of the financial supervisory system, including the repositioning of the Central Deposit Insurance Corporation (CDIC), and adjustments in the powers conferred upon the Central Bank to conduct examinations

The Impacts of US Subprime Mortgages Event on Taiwan’s Financial System and Regulatory Policy

在本論文中，我們檢視美國次級房貸事件對台灣金融體系及其監理政策之影響。我們首先探討次級房貸事件所引發的金融混亂之原因及其影響，其次我們進一步探討次級房貸事件對全球金融體系之影響，包括對全球金融巿場之結構以及對全球金融機構風險管理之影響。最後，我們將探討次級房貸事件對台灣金融監理政策之衝擊及影響。我們分別從台灣信用評等機構、投資大眾之巿場紀律以及金融監理政策三方面來分析次級房貸事件之影響。藉著本論文的探討，希望能針對台灣當前金融體系及監理政策之完善提供一些具體建議，以供政府施政之參考。In this thesis, the impacts of US subprime mortgages event and its regulatory forbearance policy on Taiwan’s financial system are examined. This thesis first investigates the causes and impacts of financial turmoil due to subprime mortgage event. Second, we explore the impacts of US subprime mortgages event on global financial system. This thesis will examine not only the impacts of the event on the infrastructure of global financial markets, but also the impacts of the event on risk management of global financial institutions. Finally, we explore the impacts of US subprime mortgages event on Taiwan’s regulatory policy. Due to the impacts, we discuss how to enhance Taiwan’s ratings agencies and the infrastructure of Taiwan’s financial markets. Also, we sum up how to strengthen risk management practices for Taiwan’s financial institutions. Besides, we also investigate how to enhance prudential regulatory policies for Taiwan’s financial system.口試委員審定書 I文摘要 IIBSTRACT IIIhapter 1 Introduction 1.1. Motivation and Purpose 1.2. Framework of this Thesis 6hapter 2 Causes and Impacts of Financial Turmoil Due to Subprime Mortgages Event 8.1. Causes of Financial Turmoil due to Subprime Mortgages Event 8.2. Impacts of Financial Turmoil due to Subprime Mortgages Event 30hapter 3 The Impacts of US Subprime Mortgages Event on Global Financial System 36.1. Impacts of the Event on the Infrastructure of Global Financial Markets 36.2. Impacts of the Event on Risk Management of Global Financial Institutions 44hapter 4 The Impacts of US Subprime Mortgages Event on Taiwan’s Regulatory Policy 53.1. Impacts of the Event on Ratings Agencies and Market Discipline 54.2. Impacts of the Event on Taiwan’s Financial Regulatory Policies 59hapter 5 Conclusion 70eference 7