Treasury Secretary Steven Mnuchin Bill Clark/Getty Images

不可指望银行的破产

坎布里奇—下个月,美国财政部将决定是否寻求用完全基于法院的机制取代2010年多德-弗兰克法案(Dodd-Frank Act)规定的由监管者主导破产大型银行处置的流程。这一变化将是一个可能造成未来危机的错误。

诚然,建立更顺畅的破产程序能够降低银行破产的影响,破产法官也是重要重组任务的专家。但有一些关键性因素不可忽视。重组一家大型银行需要事先规划、熟悉银行的优势和劣势、了解如何在高波动的经济中确定合理的破产时机,以及能够与外国监管者协调。

法院无法单独胜任这些任务,特别是在所考虑的方案时间有限——周末的48小时——的时候。无法事先规划意味着法院将在不熟悉银行的情况下进入重组流程。此外,如果多家大银行同时倒闭,将引发整个经济的危机,而法院无法处置这类危机。他们也无法与外国监管者协调。

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