May 24, 2019，The People's Bank of China and the China Banking Regulatory Commission announced that they would take over the contractor bank。Following it，May 26 and 27 of the People's Bank of China and the China Banking Regulatory Commission one after another，After taking over, the inclusive bank actually obtained national credit，Clarified the principle of disposal after taking over、Personal savings deposit full underwriting、Insurance regulations on public deposits and interbank liabilities。June 2，The central bank makes a statement again，The deposit insurance fund and the central bank will be contributed，Acquisition and acceptance，Full guarantee to all kinds of creditors of the Baishang Bank。and indicate，Conducts from deposit insurance funds、The central bank's "Last Looper" supports it according to law，Implementing acquisition and acceptance，is a relatively stable way。So far，As a major event to take over commercial banks for the first time in more than 20 years，The People's Bank of China and the CBRC decisively shot，Quickly introduced measures，For stable market information，Preventing systemic risks to play an important role。But，Around this incident involves a series of legal issues，However, there is a need for further combing。

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The principle of disposal principle after the central bank and the China Banking Regulatory Commission determined that the principle of disposal after being taken over by the contractor bank is to carry out the takeover work in accordance with laws and regulations。But，Attentive people will find，This time I take over to the contractor bank，It is different from the takeover of the CBRC a year ago。The People's Bank of China leads organizations to take over the accounting merchant bank's biggest difference。Most of the "Banking Industry Bet365 lotto review Supervision and Administration Law" and "Commercial Banking Law" have made clear stipulations on banks' takeover。According to Article 38 of the Banking Industry Supervision and Administration Law，Banking financial institutions have or may have a credit crisis，seriously affects the legitimate rights and interests of the depositors and other customers，The State Council's banking supervision and management institution can take over or promote the reorganization of the institution in accordance with the law，Pressing and the reorganization of the organization shall be implemented in accordance with the regulations of the relevant laws and the State Council。There are similar regulations in the "Commercial Banking Law"，Article 64 of the Commercial Bank Law，Commercial banks have or may have a credit crisis，When seriously affects the interests of the depositor，The State Council's banking supervision and management agency can take over the bank。

but，The People's Bank of China participated in the acceptance of the owner's bank to take over the deficiency of legal basis。Article 34 of the People's Bank of China after the amendment in 2003，During the banking financial institution, there is difficulty in paying，When it may cause financial risks，To maintain financial stability，The People's Bank of China is approved by the State Council，It has the right to check and supervise the banking financial institution。What is stipulated here is "Check Supervision"，instead of taking over。In fact, after the establishment of the original Banking Regulatory Commission in 2003，A large part of the financial regulatory rights originally undertaken by the People's Bank of China have been stripped。This time, the contractor bank was taken over by Zhou Xuedong, director of the Central Bank General Office as the head of the custody team，instead of being sent by the Banking Regulatory Commission directly supervised banks to serve as the team leader。It should be said，This time the People's Bank of China and the Banking Insurance Regulatory Commission take over the contractor bank，and the central bank officials serve as the Bet365 lotto review team leader，It seems to be inadequate from the legal basis。The right to take over and joint takeover of the People's Bank of China，Lack of regulations in laws and regulations。But from the responsibility of the People's Bank of China，The People's Bank of China directly participates in taking over Palentry Bank，It may be the function of fulfilling myself in charge of financial stability，It is also a manifestation of the function of the last lender。other，The People's Bank of China is also performing the responsibilities of the deposit insurance fund management agency and the financial stable development committee。

But，The current laws and regulations are still too vague，What measures do the regulatory authorities need to take after taking over，How to introduce new shareholders、Injecting liquidity、Improve the corporate governance structure several angles to resolve risks，Lack of clear rules guidance，Human regulation space is large。These regulations，Basically, all the regulations on taking over in the current laws and regulations。As for the disposal procedures and measures after taking over，There is almost no regulations。This situation appears，It is mainly due to the delay in legislative work that cannot be achieved，There are two important legal documents missing，That is, the "Regulations on the Devision of the Banking Financial Institution" and the "Implementation Rules for the Implementation of the Regulations on deposit Insurance"。

　　Lack of legal basis for the last lender

The People's Bank of China as the Central Bank of my country，Responsibility for the last lender，Banks need to provide liquidity support for the rescue problem。Providing liquidity rescue is an important means for central banks to deal with crisis，It is a concrete manifestation of the function of the last lender。However, there is no word of "last lender" in my country's laws，No provisions of this major function are given。One of the responsibilities of the People's Bank of China stipulated in Article 32 of the People's Bank of China is the right to check and supervise the behavior of financial institutions and other bet365 live casino games units and individuals and individuals with special loans of the People's Bank of China and the People's Bank of China。Here the People's Bank of China special loan，refers to a loan issued by the People's Bank of China to financial institutions for specific purposes that the State Council is determined by the State Council.。This provision on "special loans" is considered to be the legal basis of my country's last lender。other，Interim Measures for the "Interim Measures for the Management of Emergency Loans of the People's Bank of China in 1999"，Urban commercial banks to help the urban commercial banks that help the crisis can relieve payment pressure、Restore confidence，Prevent systemic or regional risks to prevent the occurrence of systemic or regional risks，You can issue emergency loans。and approved by the People's Bank of China，For urban commercial banks、Urban Credit Cooperative、Commercial banks other than rural credit cooperatives and other non -bank financial institutions issue emergency loans，You can also apply these Measures。The emergency loan here also has the nature of the last lender。

Reasons given by the announcement given in the announcement of the People's Bank of China and the China Banking Regulatory Commission，It is a serious credit risk that has occurred in the Chamber of Commerce，It is likely to induce serious liquidity risk，The central bank provides emergency loans as the last lender，You need to intervene in taking over。In my country's law, it seems to be blurred for the last lender system，To enhance the flexibility of the People's Bank of China。But in order to give the market stronger confidence，The function of the last lender clearly stipulates that it is really necessary in the People's Bank of China Law。It should be determined that the launch criteria for the last lender's function is "systemic risk"，It is clear that the People's Bank of China will not provide the last loan for helping individual commercial banks，Unless it is necessary to prevent a systemic crisis。For the number of last loans、Term、Interest rate and provision of guarantee，No need to be clearly specified，It only needs to be specified by the People's Bank of China to determine according bet365 best casino games to the specific situation，This is also a relatively common "presumption of fuzzy method"。The most clear stipulation in the law is the decision -making procedure of the last lender's function，Ensure the fairness of the system，At the same time, it should be determined after starting the function of the last lender，It should be made public，Confidence in the market。

　　The change and analysis of the insured limit of deposit insurance

deposit insurance fund management agency is served as the People's Bank of China，and the deposit insurance fund management agency undertakes the functions of taking early correction measures and risk disposal measures。According to Article 7 of the "deposit insurance regulations" issued in 2015，One of the responsibilities of the deposit insurance fund management agency is to take early correction measures and risk disposal measures in accordance with the provisions of these regulations。According to international experience，deposit insurance fund management can use deposit insurance fund，Rescue the problem bank。After the incident，deposit insurance fund management agency quickly established，The deposit insurance fund management limited company initiated by the central bank has officially approved the opening on May 24，Company registered capital 10 billion yuan。Deposit Insurance Fund Management Institution Realization of Entity，Future deposit insurance fund management agencies will be given more power。

Demonstration of the scope and limit of deposit insurance underwriting this time，There is a process of development and change。May 24 of the People's Bank of China、The person in charge of the China Banking Regulatory Commission said，People's Bank of China、The China Banking Regulatory Commission and the deposit insurance fund all guarantees the principal and interest of personal savings deposits，Personal access freedom，No change。but，May 27 of the People's Bank of China、The caliber of the CBRC has undergone major changes。For personal savings deposits、Differential treatment of public deposits and interbank liabilities。After taking over，The principal and interest of the personal savings deposit before the pickup is taken by the People's Bank of China、Full guarantee，Bet365 lotto review Try to handle various businesses as usual，No affected by any affected。Public deposits and interbank liabilities below 50 million yuan (inclusive)，principal and interest guarantee;，Equal negotiation from the receiving group and creditors，Guarantee according to law。According to Article 4 of the "deposit insurance regulations"，Insurance deposits include renminbi deposits and foreign currency deposits absorbed by insurance institutions。but，Interbank deposits of financial institutions、Senior managers of the insured institution at the deposit of the insured institution and other deposits stipulated in the deposit insurance fund management agency。In this incident，Interbank liabilities are included in the insurance range。

other，Article 5 of the "Regulations on deposit insurance"，deposit insurance implements a limited amount of payment，The maximum payment limit is RMB 500,000。The principal and interest of personal savings deposits will be given full guarantee for this incident，and for public deposits and interbank liabilities，Treating 50 million yuan as the boundary。This is also in line with the "People's Bank of China in conjunction with the relevant departments of the State Council in accordance with the economic development、Changes in the deposit structure、Financial risk status and other factors adjust the maximum payment limit，Regulations for implementing implementation after the approval of the State Council。Regulations on the scope of underwriting here and the insured limit，It can be said that the central bank and the China Banking Regulatory Commission in order to enhance market confidence，Prevent deposit crowding，Decision made in accordance with the law。But it is also to suppress the existing moral risk，Breaking the effort of just redeeming the deposit of the industry，Increase the risk of corporate deposits，It is also to strengthen market constraints。

　(Author Unit: School of Law, Beijing University of Technology)