Is the term “systemically important” synonymous with safe or risky? AIG, Prudential Financial and GE Capital were labelled systemically important on Monday as part of US government efforts to spot risks to the financial system from outside the banking world. Some 18 banks with $50bn of assets or more already have the distinction as do some financial market “utilities”, namely clearing houses and the Chicago Mercantile Exchange. For the three non-bank systemically important financial institutions, or non-bank SIFIs, named this week officials studied asset size, debt load and mix, leverage and derivatives exposure. Others may be named, while regulators are mulling how asset management behemoths, such as BlackRock, should be treated.
與“系統(tǒng)性重要”這個(gè)詞同義的是“安全”，還是“風(fēng)險(xiǎn)”？美國(guó)國(guó)際集團(tuán)(AIG)、保德信金融集團(tuán)(Prudential Financial)和通用電氣金融集團(tuán)(GE Capital)在周一被貼上“系統(tǒng)性重要”的標(biāo)簽，這是美國(guó)政府全面努力的一部分，目的是發(fā)現(xiàn)非銀行金融機(jī)構(gòu)對(duì)金融體系構(gòu)成的風(fēng)險(xiǎn)。大約有18家資產(chǎn)達(dá)500億美元或以上的銀行已被列為“系統(tǒng)性重要”，還有一些金融市場(chǎng)的“公用事業(yè)機(jī)構(gòu)”也被貼上這一標(biāo)簽，如交易結(jié)算機(jī)構(gòu)和芝加哥商品交易所(Chicago Mercantile Exchange)。對(duì)于本周被點(diǎn)名的這三家非銀行系統(tǒng)性重要金融機(jī)構(gòu)（非銀行SIFI），官員們研究了其資產(chǎn)規(guī)模、債務(wù)負(fù)擔(dān)和結(jié)構(gòu)、杠桿率以及衍生品敞口。或許還會(huì)有別的SIFI，同時(shí)監(jiān)管機(jī)構(gòu)還在研究該怎么對(duì)待像貝萊德(BlackRock)這樣的資產(chǎn)管理巨頭。