Regulatory Reform of the United States Shadow Banking System and Its Enlightenment
The United States shadow banking system has a strong credit creation function,but high leverage makes the system contain a huge risk. The outbreak of the subprime crisis has exposed the United States shadow banking supervision system excessively relies on the market power,and the shortcomings of efficacy of the supervision means and measures,the backward supervision system and so on. In order to reduce the risk of the shadow banking system,the United States carried out supervision reform on the important financial institutions,credit rating agencies,financial institutions' orderly liquidation and bankruptcy,asset securitization,etc.,which has some enlightenment to strengthening guidance and supervision of the shadow banking system in China.