◎項崢（中央財(cai)經大學經濟學博(bo)士）

2003年，銀(yin)監(jian)會(hui)(hui)(hui)從(cong)人民(min)銀(yin)行(xing)分設后，同年修訂的(de)(de) 《中國(guo)人民(min)銀(yin)行(xing)法》第一章(zhang)第九條規(gui)定(ding)(ding)“國(guo)務(wu)(wu)院建立金(jin)融監(jian)督管(guan)理(li)協(xie)調(diao)機(ji)制(zhi)(zhi)，具體辦法由國(guo)務(wu)(wu)院另行(xing)規(gui)定(ding)(ding)”。在2008年頒(ban)布(bu)的(de)(de)人民(min)銀(yin)行(xing)“三定(ding)(ding)”方案(an)中，要求“人民(min)銀(yin)行(xing)會(hui)(hui)(hui)同銀(yin)監(jian)會(hui)(hui)(hui)、證監(jian)會(hui)(hui)(hui)和(he)保監(jian)會(hui)(hui)(hui)共同建立金(jin)融監(jian)管(guan)協(xie)調(diao)機(ji)制(zhi)(zhi)”。但由于各種原因(yin)，在此(ci)期間 “一行(xing)三會(hui)(hui)(hui)”之(zhi)間的(de)(de)金(jin)融監(jian)管(guan)協(xie)調(diao)機(ji)制(zhi)(zhi)均未(wei)有實(shi)質成(cheng)果與進展。

直到日前，國務院同(tong)意由(you)人民銀行牽頭建立(li)金(jin)(jin)融監管(guan)(guan)協(xie)調部際聯席會(hui)議制(zhi)度，成員單位(wei)包括(kuo)銀監會(hui)、證監會(hui)、保(bao)監會(hui)和外匯局，旨在加強金(jin)(jin)融監管(guan)(guan)協(xie)調，保(bao)障金(jin)(jin)融業穩(wen)健運行。從2003年到現在，可謂是“十年磨一劍”，我(wo)國金(jin)(jin)融監管(guan)(guan)協(xie)調機(ji)制(zhi)建設(she)終于邁(mai)出關(guan)鍵性的一步。

金(jin)(jin)融(rong)(rong)(rong)(rong)(rong)業(ye)(ye)(ye)(ye)(ye)(ye)混合(he)經營(ying)(ying)趨勢，以及(ji)(ji)跨(kua)市場、跨(kua)行(xing)(xing)業(ye)(ye)(ye)(ye)(ye)(ye)金(jin)(jin)融(rong)(rong)(rong)(rong)(rong)產(chan)品(pin)的(de)創新發(fa)展(zhan)(zhan)，均(jun)需要(yao)加強(qiang)貨幣當局(ju)與(yu)監管部門的(de)協(xie)調。從國(guo)際(ji)上看，混業(ye)(ye)(ye)(ye)(ye)(ye)經營(ying)(ying)是一個大趨勢。從國(guo)內看，金(jin)(jin)融(rong)(rong)(rong)(rong)(rong)機構跨(kua)行(xing)(xing)業(ye)(ye)(ye)(ye)(ye)(ye)經營(ying)(ying)的(de)發(fa)展(zhan)(zhan)態勢也已基(ji)本(ben)確立，國(guo)有商業(ye)(ye)(ye)(ye)(ye)(ye)銀行(xing)(xing)發(fa)起設立、控股基(ji)金(jin)(jin)公司(si)、保(bao)(bao)險公司(si)，平安保(bao)(bao)險集團控股平安銀行(xing)(xing)，由(you)產(chan)業(ye)(ye)(ye)(ye)(ye)(ye)資本(ben)控制(zhi)的(de)金(jin)(jin)融(rong)(rong)(rong)(rong)(rong)控股公司(si)也呈現出快速發(fa)展(zhan)(zhan)態勢。與(yu)此同時，銀行(xing)(xing)、證(zheng)券、保(bao)(bao)險之間的(de)業(ye)(ye)(ye)(ye)(ye)(ye)務合(he)作日趨緊密，涉及(ji)(ji)跨(kua)行(xing)(xing)業(ye)(ye)(ye)(ye)(ye)(ye)的(de)金(jin)(jin)融(rong)(rong)(rong)(rong)(rong)產(chan)品(pin)，如理財(cai)產(chan)品(pin)、金(jin)(jin)融(rong)(rong)(rong)(rong)(rong)衍生產(chan)品(pin)規模、保(bao)(bao)險資金(jin)(jin)投資于證(zheng)券市場等等，均(jun)出現了星火(huo)燎(liao)原(yuan)的(de)態勢。在此過程中，監管套(tao)利、監管真(zhen)空的(de)出現，影響到金(jin)(jin)融(rong)(rong)(rong)(rong)(rong)業(ye)(ye)(ye)(ye)(ye)(ye)的(de)穩健運(yun)行(xing)(xing)。國(guo)務院批(pi)復由(you)人(ren)民銀行(xing)(xing)牽頭建立金(jin)(jin)融(rong)(rong)(rong)(rong)(rong)監管協(xie)調機制(zhi)，對于推進金(jin)(jin)融(rong)(rong)(rong)(rong)(rong)業(ye)(ye)(ye)(ye)(ye)(ye)“大監管”格局(ju)的(de)建設將發(fa)揮積(ji)極的(de)作用(yong)。

同時我們也(ye)應該看到(dao)，在(zai)(zai)中(zhong)國要形成監(jian)(jian)(jian)(jian)(jian)管(guan)(guan)(guan)(guan)合力依然任(ren)重道遠。雖然國務院明確由(you)人民銀(yin)(yin)行牽(qian)頭(tou)建(jian)立(li)部際聯(lian)(lian)席會(hui)議(yi)制(zhi)度，但(dan)同時也(ye)指出，“聯(lian)(lian)席會(hui)議(yi)不(bu)刻(ke)制(zhi)印章，不(bu)正(zheng)式行文；也(ye)不(bu)改變現(xian)行金(jin)融監(jian)(jian)(jian)(jian)(jian)管(guan)(guan)(guan)(guan)體(ti)制(zhi)，不(bu)替代、不(bu)削弱有(you)關部門(men)(men)現(xian)行職責(ze)分工。”在(zai)(zai)中(zhong)國行政運作(zuo)注重本位利益(yi)的(de)(de)(de)(de)現(xian)實(shi)條(tiao)件下，或許這僅是(shi)(shi)一個應對金(jin)融業(ye)監(jian)(jian)(jian)(jian)(jian)管(guan)(guan)(guan)(guan)需要的(de)(de)(de)(de)權宜安排。特別(bie)是(shi)(shi)人民銀(yin)(yin)行不(bu)負責(ze)機構(gou)監(jian)(jian)(jian)(jian)(jian)管(guan)(guan)(guan)(guan)，各部門(men)(men)的(de)(de)(de)(de)監(jian)(jian)(jian)(jian)(jian)管(guan)(guan)(guan)(guan)格局并未觸動，即(ji)使可以由(you)人民銀(yin)(yin)行牽(qian)頭(tou)協調，但(dan)牽(qian)頭(tou)與(yu)(yu)負責(ze)差別(bie)很大(da)，“牽(qian)頭(tou)”如(ru)(ru)果僅僅是(shi)(shi)召(zhao)集(ji)會(hui)議(yi)，牽(qian)頭(tou)人不(bu)具(ju)(ju)備督促職責(ze)，那么所謂監(jian)(jian)(jian)(jian)(jian)管(guan)(guan)(guan)(guan)協調可能會(hui)是(shi)(shi)監(jian)(jian)(jian)(jian)(jian)管(guan)(guan)(guan)(guan)信息(xi)溝通(tong)，在(zai)(zai)防(fang)范(fan)監(jian)(jian)(jian)(jian)(jian)管(guan)(guan)(guan)(guan)套利和監(jian)(jian)(jian)(jian)(jian)管(guan)(guan)(guan)(guan)真空上作(zuo)用不(bu)大(da)。還(huan)有(you)，各部門(men)(men)監(jian)(jian)(jian)(jian)(jian)管(guan)(guan)(guan)(guan)領(ling)域既相對獨立(li)，又有(you)交(jiao)叉，如(ru)(ru)何在(zai)(zai)跨(kua)行業(ye)和跨(kua)市(shi)場監(jian)(jian)(jian)(jian)(jian)管(guan)(guan)(guan)(guan)上實(shi)現(xian)合作(zuo)，也(ye)是(shi)(shi)一個現(xian)實(shi)的(de)(de)(de)(de)難題(ti)，主要涉及由(you)誰去監(jian)(jian)(jian)(jian)(jian)管(guan)(guan)(guan)(guan)、監(jian)(jian)(jian)(jian)(jian)管(guan)(guan)(guan)(guan)機構(gou)與(yu)(yu)貨幣當局的(de)(de)(de)(de)職責(ze)劃分。如(ru)(ru)果人民銀(yin)(yin)行只是(shi)(shi)作(zuo)為會(hui)議(yi)召(zhao)集(ji)人出現(xian)，在(zai)(zai)跨(kua)行業(ye)與(yu)(yu)跨(kua)市(shi)場監(jian)(jian)(jian)(jian)(jian)管(guan)(guan)(guan)(guan)中(zhong)不(bu)發揮具(ju)(ju)體(ti)作(zuo)用，也(ye)難以真正(zheng)實(shi)現(xian)防(fang)范(fan)系統性、區域性金(jin)融風險的(de)(de)(de)(de)目的(de)(de)(de)(de)。

無論(lun)如何，“十年磨一(yi)劍”，不管(guan)是權益安排還是過渡性制(zhi)度設(she)計，畢(bi)竟已經邁出了關鍵性的(de)一(yi)步。特別是國(guo)務(wu)院明(ming)確了人民銀行(xing)的(de)牽頭作用(yong)(yong)，也符合國(guo)際金融(rong)危機后國(guo)際社會對中央(yang)銀行(xing)作用(yong)(yong)反(fan)思與監(jian)管(guan)改(gai)革的(de)趨勢。至于未來我國(guo)監(jian)管(guan)體制(zhi)如何改(gai)革，還需要(yao)決(jue)策層把(ba)握時機，順勢而為，進行(xing)重大(da)決(jue)策。目(mu)前(qian)看，應該要(yao)落實(shi)國(guo)務(wu)院批復，將金融(rong)監(jian)管(guan)協(xie)調機制(zhi)做實(shi)，真正發(fa)揮效(xiao)用(yong)(yong)。