“破产”对金融机构来说沉重而敏感。9月17日，《金融业发展和改革“十二五”规划》(以下简称规划)出炉。除了明确了发展目标外，规划最引人关注的则是首次提出了要对金融企业破产进行立法，避免因过度发展造成的金融企业“大而不倒”的问题。规划提出：“要建立适合我国国情的金融机构破产法律体系，规范金融机构市场退出程序，加强行政退出与司法破产之间的有效衔接。”

"bankruptcy"For financial institutions is heavy and sensitive.On September 17,[The financial industry development and reform"1025"planning](Hereinafter referred to as the planning)are.In addition to clear the development goals outside,Planning the most compelling is put forward for the first time to financial enterprise bankruptcy legislation,Avoid the excessive development cause financial enterprise"Big tower"problems.Plans to put forward:"To establish suitable for China's national conditions of financial institutions bankruptcy legal system,Standard financial institutions market withdrawal program,Strengthen administrative exit and judicial bankruptcy effective connection between."

　　破产法专家、中国政法大学李曙光教授曾在几年前参与制定破产法时，就提出金融企业破产也应当有相关立法。在规划出炉后，李曙光接受了法治周末记者的采访，对金融企业破产做了相关解读。

Bankruptcy law experts/LiShuGuang China university of politics and law professor was in a few years ago when participates in formulating bankruptcy law,Puts forward the financial enterprise bankruptcy should also have related legislation.In the planning after a,LiShuGuang accepted the rule of law weekend reporter's interview,On the financial enterprise bankruptcy do the relevant interpretation.

　　“破产法第134条是启动相关立法的依据” "Bankruptcy law article 134 is to launch the basis of relevant legislation"

　　法治周末：日前出台的《金融业发展和改革“十二五”规划》首次提出了要立法允许金融企业破产，避免因过度发展造成的金融企业“大而不倒”问题。那么，金融业破产立法为何迟迟未能出台？

Law weekend:Recently on the introduction of the[The financial industry development and reform"1025"planning]This paper first puts forward the legislation to allow financial enterprise bankruptcy,Avoid the excessive development cause financial enterprise"Big tower"problems.so,Financial bankruptcy legislation on why delayed?

　　李曙光：事实上在实践中，我国已经出现了一些商业银行等金融机构的破产案例，国际上早已经不再将商业银行视作一个特殊行业，就是要将商业银行视为一个公众公司。

LiShuGuang:In fact in practice,Our country has already been some commercial Banks and other financial institutions of the bankruptcy case,International have already no longer commercial bank as a special industry,That the commercial bank as a public company.

　　2011年8月，尚村农信社向河北省沧州市中级人民法院递交了破产申请材料。全国第一家被批准破产的农村信用合作社——河北省肃宁县尚村农信社已正式进入司法程序。这一案件一直受到社会各界的高度关注。

In August 2011,The village is to the intermediate people's court of cangzhou city, hebei province, submitted the bankruptcy application materials.The first is approved a bankruptcy of rural credit cooperatives -- hebei SuNingXian still village the cooperatives have officially enter the judicial process.The case has been hit by the community the high attention.

　　商业银行的立法也比较敏感，之前一直没有涉及，直到第三稿才把它写入破产法第134条。之前国际经济大环境也与现在不同，而对商业银行立法的研究也不够深入、条件不够成熟、经济危机形式下的商业银行破产也不多见。现在出现的一些新情况、新问题要求商业银行立法的出台。很多因素造成了商业银行立法的延后。

The legislation of commercial Banks and more sensitive,Before has not involved,Until the third draft to bring it into bankruptcy law article 134.Before the international economic environment and now it's different,But to commercial bank legislation research also in-depth/Conditions are not mature enough to/The economic crisis form commercial Banks bankruptcy is rare.Now there is some of the new situation/New problems require commercial Banks to legislation come on stage.Many factors caused the commercial bank legislation delay.

　　我们一些学者非常了解商业银行立法的必要性和紧迫性。到第三稿的时候，相关部门听取了我的意见，加入了破产法第134条现在的内容。这条立法在业内作用不可小视，它也是现在商业银行立法启动的重要依据，否则另外单独立法是很难的。

We some scholars know very much about commercial bank the necessity and the urgency of the legislation.When the third draft,Related departments listened to my advice,Joined the bankruptcy law article 134 now content.This article in the industry legislation role can not be ignored,It is also now commercial bank legislation start the important basis,Otherwise it is difficult to separate other legislation.

　　“金融企业破产法一稿已交国务院法制办” "The financial enterprise bankruptcy law draft has been into affairs office of the state council"

　　法治周末：既有的破产法能否满足金融企业破产的规范需要？金融企业破产为何要专门立法而且选择现在提出，立法情况最新进展如何？

Law weekend:The existing bankruptcy law could meet with the bankruptcy of the enterprise standard financial need?The financial enterprise bankruptcy why the special legislation and put forward choice now,Legislation latest progress?

　　李曙光：现有的破产法是2 006年8月27日通过、2007年6月1日起开始施行的。当时在没有专门的金融机构破产法的情况下，处理相关问题主要是援引第134条。一段时间以来，学者们都感觉非常需要一部专门的金融机构破产法、特别是银行的破产法。

LiShuGuang:The existing bankruptcy law is 2 August 27, 006 through the/On June 1, 2007 shall be started.When there is no special financial institutions under the condition of bankruptcy law,The related problems are quoted article 134.A period of time,Scholars feel very need a special financial institutions bankruptcy law/Especially the bank bankruptcy law.

　　现行的破产法中所指称的金融机构破产，其涉及面非常广。如此繁多的金融机构主体，其竞争、退出问题和复杂的金融债权债务关系，需要一个关于金融机构破产的特别法来处理。

The current bankruptcy law in the financial institutions that bankruptcy,The affected area is broad.So many financial institutions subject,The competition/Exit problems and complex financial creditor-debtor relationship,Need a about financial institutions to deal with special law of bankruptcy.

　　虽然2007年、2008年前后出台了证券机构破产法条例，但也主要针对证券机构破产问题的处理。

Although in 2007/Around 2008 issued securities institutions bankruptcy law regulations,But it also aimed at securities institutions to solve the problem of bankruptcy.

　　立法机构和学界一直都在推动订立金融机构破产法这项工作，最早是央行后来是银监会在牵头做这件事。现在已经有一个比较成熟的一稿已经交到了国务院法制办。

The legislature and the academic circle has been concluded in promoting financial institutions bankruptcy law the work,The first is the central bank is the banking regulatory commission later in lead to do this.Now already have a more mature of the draft has been handed to the affairs office of the state council.

　　当前的国际经济形势动荡，实体经济受损具有连锁性。在2008年的金融危机当中，美国的大型企业破产——通用、克莱斯勒甚至是美国央行都受到很大影响，实体经济也受到很大的创伤。为了防范相关情形在中国出现，我国相关部门应加快金融机构破产法的制定，加快我国金融监管改革。

The current international economic situation turbulence,The real economy has damaged chain sex.In the 2008 years of financial crisis,America's large enterprise bankruptcy - general/Chrysler and even the United States central bank are greatly affected,The real economy have also been a lot of trauma.In order to prevent relative circumstances appear in China,The relevant departments in our country should speed up the financial institutions the formulation of bankruptcy law,The acceleration of China's financial regulatory reform.

　　“商业银行破产应设立存款保险机制” "Commercial Banks bankruptcy should set up deposit insurance mechanism"

　　法治周末：对中国的银行业来说，破产这个词一直比较遥远，而银行一旦进入破产程序，大量储户的利益如何保障是不是最为严峻的一个问题？

Law weekend:To China's banking is,Bankruptcy this word has been more distant,And bank once entered bankruptcy proceedings,A large number of the interests of depositors how to guarantee is the most serious a problem?

　　李曙光：金融机构尤其是银行的破产同时需要完善的就是存款保险制度。商业银行破产区别于一般的公司企业的破产，大量的债权人是储户(目前储户是债券人还是股东的问题还存在争议)。

LiShuGuang:Financial institutions especially bank bankruptcy also need to perfect is the deposit insurance system.Commercial Banks bankruptcy difference from general company enterprise bankruptcy,A large number of creditors is savers(Current account is bonds or shareholders is still controversial).

　　这个损失如何处理，国际上有比较成熟的经验。最典型的就是美国(包括英国、德国、日本，都有一个存款保险制度)，一旦一家商业银行破产，就由另一家商业银行或者国家的行政部门进行接管、重组等工作。所做的工作之一就是对储户的给付。对于小额储户一般是百分之百的给付。根据数额的不同会有不同的给付比例。以上各国在应付商业银行的破产问题上都有一个存款保险体制。

This loss how to deal with,International more mature experience.The most typical is the United States(Including Britain/Germany/Japan,There is a deposit insurance system),Once a commercial bank bankruptcy,By another commercial bank or state administrative departments to take over/Restructuring, etc.Work is one of the payment to depositors.For small savers are generally one hundred percent of the payment.According to the amount of different will have different payment proportion.Above all countries in dealing with commercial bank bankruptcy issue has a deposit insurance system.

　　这个存款保险是各个商业银行在经营比较顺畅的时候拿出的一笔钱，一旦出现破产的商业银行就会动用这笔钱来补偿储户的损失。目前我国正在初步建立存款保险制度。央行制定了一个存款保险条例，它也正在立法过程中，而它是银行业金融机构破产法制定的前提。

The deposit insurance is all commercial Banks in operation is smooth when out of a sum of money,Once appear, bankrupt commercial bank will use the money to compensate for the loss of depositors.At present our country is preliminary the establishment of a deposit insurance system.The central bank made a deposit insurance regulations,It is also in the process of legislation,And it is the banking financial institutions for bankruptcy law of the premise.

　　法治周末：存款保险制度具体应当怎样操作？由谁操作？

Law weekend:Deposit insurance system concrete should be how to operate?Who operation?

　　李曙光：存款保险制度涉及到一些问题就是谁来管理存款保险，是央行还是专门设立一个机构？再者存款保险的税率大小银行是一致还是有所区别。这些问题目前都无定论，而明确它们才是金融机构破产法出台的前提。

LiShuGuang:Deposit insurance system involves some problem is who will manage deposit insurance,Is the central bank still have a special mechanism?Moreover the deposit insurance rate size bank are the same or different.These problems at present are not determined,And clearly they are financial institutions bankruptcy law on the introduction of the premise.

　　“资本充足率是银行破产重要约束标准” "Capital adequacy ratio is an important constraint standard bank bankruptcy"

　　法治周末：金融机构破产的标准您认为应当怎样界定？

Law weekend:Financial institutions bankrupt standard do you think should be how to define?

　　李曙光：银行破产区别于一般公司企业有一些特别的标准，比如资本充足率。《巴塞尔协议III》规定，至2015年1月，全球各商业银行的一级资本充足率下限将从现行的4%上调至6%。其中，由普通股构成的核心一级资本占银行风险资产的下限将从现行的2%提高至4.5%；此外，各银行还需增设“资本防护缓冲资金”，总额不得低于银行风险资产的2.5%。资本充足率保持8%不变。

LiShuGuang:Bank bankruptcy different from general company enterprise have some special standard,Such as capital adequacy ratio.[Basel agreement III]provisions,Until 1 January 2015,Global each commercial bank capital adequacy ratio lower limit level from the current 4% to rise to 6%.the,The common stock consisting of the core level of capital accounts for the lower limit of bank risk assets from the current 2% to 4.5%;In addition,Banks still need to add"Capital protective buffer funds",The total assets shall not be less than 2.5% of the bank risk.Capital adequacy ratio keep 8% unchanged.

　　问题复杂也就是在这里，商业银行区别于其他公司企业的破产标准，资本充足率是一个很重要的约束标准，而规模较大的商业银行规定还不同于一般的商业银行，还有更复杂的标准。因为涉及到资本和资产的匹配，资本充足率的计算也十分复杂。

Problems are complicated and it is here,Commercial Banks are different from other company enterprise bankruptcy standards,Capital adequacy ratio is a very important constraint standard,And large commercial banking regulation is different from general commercial Banks,There are more complex standard.Because involves capital and assets of the match,Capital adequacy ratio calculation is also very complex.

　　银行有大有小，不同银行的风险是不同的。美国对银行是做一定分类的，实施的是双重计算。把银行资本充足水平划分为5个等级，对于提高美国银行业资本充足水平、增强抗风险能力，作用是相当明显的。

The bank is big is small,Different bank risk is different.The bank is to be certain of the classification,Implementation is double calculation.The bank capital adequacy level is divided into 5 levels,To improve the United States banking capital adequacy level/Increase its ability to resist risks,Effect is quite obvious.

　　这个问题银监会已经研究了很多年，不同风险级别的银行的资本充足率怎样核算，也已经积累了一些经验。大型银行资本充足率我们要求达到11%，中小型的要达到8%左右，另外还有风险资本的叠加，十分复杂。

This problem banking regulatory commission (CBRC) has been studied for years,Different risk levels of bank's capital adequacy ratio how to business accounting,Also has accumulated some experience.Large bank capital adequacy ratio we require 11%,Small and medium-sized to reach 8%,In addition to the superposition of venture capital,Very complex.

　　“金融机构破产应更多运用重整程序” "Financial institutions should be more use bankruptcy restructuring program"

　　法治周末：破产法第134条规定：“商业银行、证券公司、保险公司等金融机构有本法第二条规定情形的，国务院金融监督管理机构可以向人民法院提出对该金融机构进行重整或者破产清算的申请。”那么，除了国务院监管机构可以提出破产申请外，金融机构自身和金融机构的债权人能否提出破产申请？

Law weekend:The provisions of article 134 of the bankruptcy law:"Commercial Banks/Securities company/Insurance companies, and other financial institutions of this law the provisions of article 2 of the situation,Financial supervision and administration institution under the state council may apply to the people's court to put forward the financial institutions restructuring or the bankruptcy liquidation of the application."so,In addition to the state council regulators can put forward the bankruptcy application,Financial institutions themselves and financial institutions creditors can is submitting the bankruptcy application?

　　李曙光：金融机构破产立法在制定时应明确此条款：哪些金融机构的破产申请必须经国务院金融监管部门批准或者提出，哪些不需批准，也不需提出。

LiShuGuang:Financial institutions in the bankruptcy legislation should be clear for this clause:What are the financial institutions of the bankruptcy application must be approved by the financial regulatory department approval or put forward,What don't need approval,Also do not need to put forward.

　　法治周末：金融业破产法立法在制度设计上有何特殊性？重点要解决哪些问题？

Law weekend:Financial bankruptcy law legislation in the system design have any particularity?What are the key to solve the problem?

　　李曙光：应考虑由金融监管部门与市场专业人士合作组成清算组或管理人机构，并由有经验的金融专业人士来承担管理人职责，新法应特别规定金融机构破产管理人的资格、选任、职责与监督事宜。

LiShuGuang:Should be taken into account by the financial regulatory department and market professionals cooperation composition liquidation group or the administrator mechanism,And the experienced financial professionals to undertake the administrator responsibility,The new law should be special provisions financial institutions bankruptcy administrator qualifications/selection/Responsibilities and supervision matters.

　　按照《商业银行法》规定的破产清偿原则，即第71条第2款：“商业银行破产清算时，在支付清算费用、所欠职工工资和劳动保险费用后，应当优先支付个人储蓄存款的本金和利息。”个人债权人具有优先权。商业银行的这种个人债权优先权是否能够推广到处置其他金融机构的破产问题。

According to the[Commercial Banks]The provisions of the principle of insolvency,That paragraph 2 of article 71:"Commercial Banks bankruptcy liquidation,In the payment and settlement costs/Due to worker pay and cost of labor security,Priority shall be given to personal savings to pay the principal and interest of the deposits."Individual creditor has priority.Commercial bank this individual creditor's rights priority whether can spread to the disposal of other financial institutions bankruptcy problem.

　　在西方国家处理金融机构破产问题时确定了“有限偿付”原则，也被称为“债权打折”原则，即在金融机构破产倒闭时，对个人债权设定一个最高限额，限额以下全额赔偿，限额以上的按照一定的比例偿付。

In the western countries deal with the financial institution determines the bankruptcy problems"Co., LTD., pay"principle,Also known as"Claims discount"principle,Namely in the financial institutions when went bankrupt,For individual creditor's rights set a ceiling,Limit the following full compensation,The limitation above according to the certain proportion pay.

　　由于金融机构破产的社会震动面相对较大，因此，除非不得已，各国破产法都鼓励金融机构的破产更多地走重整程序。具体途径可以通过：政府注资、政府接管和托管三种方式。

Because financial institutions bankruptcy social vibration surface is opposite bigger,therefore,Unless compelled to,Countries bankruptcy law encourage financial institutions more go bankruptcy restructuring program.The specific way can through the:The government capital injection/The government took over and custody three ways.