准金融机构经营管理潜藏较多风险，影响金融稳定，亟待加强管理。

Financial institutions risk management more hidden,Impact of financial stability,To strengthen management.

　　小额贷款公司、融资性担保公司等“准金融机构”的发展还处于起步阶段，在行业制度不健全、监管不到位的情况下，其经营管理潜藏较多风险，影响金融稳定，亟待加强管理。

Small loan companies/A financing guarantee company, etc"Financial institutions"Development is still in its infancy,In the industry system is not sound/Under the condition of supervision does not reach the designated position,The risk management more hidden,Impact of financial stability,To strengthen management.

　　潜在风险 The potential risk

　　资金来源渠道受限，面临流动性风险

Limited capital source channel,Face a liquidity risk

　　以小贷公司为例，因其融资渠道受限和小贷公司资金放贷速度快于资金回收速度的性质，存在不同程度的资金缺口。

Small loan companies, for example,Because of the limited financing channels, and small loan company funds to lend faster than the nature of the capital recovery speed,There are different levels of funding gap.

　　监管框架不成熟，潜藏制度风险

A regulatory framework is not mature,Underlying system risk

　　目前对准金融机构的监管规则制定权由国家金融监管部门行使，监管执行权由地方政府履行。2010年黑龙江省出台的《融资性担保公司管理暂行办法实施细则》中规定其监管部门为金融办，而目前一些担保公司既由地方政府出资筹建，又由地方政府监管，这种情况导致监管意愿和监管责任难以落实，潜藏一定的制度风险。

Current rules aimed at financial institutions supervision rights exercised by the national financial supervision and regulation department,Regulatory enforcement by the local government performance.In heilongjiang province in 2010[A financing guarantee company management interim measures for the implementation details]The rules for financial regulators do,Now some guarantee company is funded by local government planning,And by the local government regulation,This kind of situation will lead to supervision and regulatory responsibilities are difficult to implement,Hidden system of a certain risk.

　　信息不对称，引发道德风险 Information asymmetry,The moral risk

　　准金融机构目标客户具有信用等级低、透明度弱、缺乏规范性财务报表等特点，由于信息不对称和委托代理机制不畅，一些准金融机构风险管控制度不健全，放贷时盲目追求高收益，不重视资金的安全性，忽略了资金需求方可能发生的道德风险。倘对此监管缺失则易引发准金融机构资金链断裂，若部分资金从银行借贷，则易引发银行不良贷款产生，将风险扩散至银行系统；若资金来源于民众非法集资，则易引发群体聚众上访事件，影响社会稳定。

Financial institutions to target customers with lower credit ratings/Transparency is weak/The lack of standardized financial statements, etc,Because of asymmetric information and principal-agent mechanism,Some financial institutions risk control system is not sound,Lend blind pursuit of high returns,Do not attach importance to the safety of the funds,Ignore the capital demand of moral hazard may occur.If it is easy to cause financial institutions lacking capital chain rupture,If some of the money from bank lending,Is easy to cause bad bank loans,Spread the risk to the banking system;If the illegal fund raising money from people,Is easy to cause group group petitions,Affect social stability.

　　利益驱动，导致宏观调控目标偏离风险 The interests of the driver,In macroeconomic regulation and control goal deviate from the risk

　　当国家宏观政策对房地产、高耗能等一些过热、过剩和高风险行业进行调控时，银行对此类行业信贷紧缩，资金需求方转向民间融资渠道。受利益驱动，一些准金融机构在现有资金难以满足贷款需求时，通过各种渠道以高利率违规揽存后将贷款投向这s些限制性行业，准金融机构的逆向选择使其偏离了设立之初服务于“三农”和小微企业的初衷，这种贷款投向必然会冲抵或延迟调控效果，影响货币政策效果判断和宏观调控难度。

When the national macro policy of real estate/Energy intensive, etc. Some overheating/To control excess and high-risk industry,Bank credit crunch for such industry,Money demand to the folk financing channels.Driven by the interests of the,Some financial institutions in the existing capital is difficult to satisfy the demand for loans,Through various channels to high interest rates after LanCun will be loans to it s some restrictive industry,Financial institutions adverse selection makes it in deviation from the set at the beginning of the service"Agriculture, rural areas and farmers"The purpose of the small and micro enterprises,Such loans into is bound to set off or delay control effect,Impact of monetary policy judgment and difficulty of macroeconomic regulation and control effect.

改进建议 Suggestions for improvement

　　改善融资环境，增加资金来源 To improve the financing environment,To increase the source of funds

　　监管机构在坚决不允许非法集资前提下，应适度放宽经营业绩好、诚信记录好的准金融机构向金融机构的融资比例，支持商业银行等金融机构在风险可控的前提下向准金融机构融资，进而间接支持小微企业、小商户、农户，实现多方共赢。

Regulatory agencies under the precondition of resolute don't allow illegal fund raising,Should be appropriate to relax performance is good/Credit record good financing proportion of financial institutions to financial institutions,Support commercial Banks and other financial institutions on the premise of risk control to the financial institutions financing,And indirect support small micro enterprises/Small businesses/farmers,Achieve multi-win-win situation.

　　完善法规，整合现有资源 Perfect laws and regulations,Integration of existing resources

　　金融办可比照银监部门对金融机构的监管、监测方法与银监部门协同对“准金融机构”开展现场或非现场检查，解决制约准金融机构稳健发展的制度缺陷。

Financial offices can branch department, mutatis mutandis, the regulation of financial institutions/Monitoring method and the synergy of branch department"Financial institutions"Carry out on-site or off-site inspection,Solve the system flaw which restrict the development of the quasi steady financial institutions.

　　加强征信管理，加大风险监测 In order to strengthen the management of credit reporting,Increase the risk monitoring

　　尽快出台针对准金融机构的征信法律法规，将准金融机构信息纳入征信管理体系，为准金融机构查询相关信息提供服务。加大对准金融机构经营风险状况的持续监测力度，根据审慎监管需要，适时提出资本质量和资本充足率要求，制定准金融机构突发事件处置预案，完善违规机构处罚和市场退出机制。

As soon as possible for prospective credit reporting laws and regulations of financial institutions,Will financial institution information into the credit management system,Subject to financial institutions to provide services to query information.Increase on the financial institutions operating risk condition of continuous monitoring,According to the requirements of the prudential supervision,Timely put forward capital quality and capital adequacy requirements,Emergency response plans for financial institutions,Improve the violation institutions and market exit mechanism.

　　开展营业监管，给予政策扶持 To carry out the business regulation,To give policy support

　　借助银行账户、支付结算系统、反洗钱、统计等手段跟踪监督准金融机构资金流向，强化统计制度，监测民间融资中介机构业务开展和资金融通总量情况，以此减少政府部门在准金融机构监管领域的盲区，为宏观调控服务。同时地方政府要鼓励和规范准金融机构投向到国家支持的小微企业和“三农”经济，并给予一定的政策扶持和税费补贴。

With the help of a bank account/Payments and settlement system/Anti-money laundering/Statistical methods such as tracking supervision and financial institutions capital flow,Strengthen the statistical system,Monitoring folk financing intermediary business and financing amount,To reduce the blind spot in the field of government regulation in financial institutions,Service for macroeconomic regulation and control.At the same time, local governments should encourage and regulate financial institutions in the country in support of the small and micro enterprises"Agriculture, rural areas and farmers"The economy,And to give certain policy support and tax subsidies.

　　（作者单位为中国人民银行哈尔滨中心支行）

(The author unit for Harbin central sub-branch of the people's bank of China)