貨幣和金融政策透明化優良實務規範:原則的宣告

Code of Good Practices on Transparency in Monetary and Financial Policies: Declaration of Principles

 

國際貨幣基金

INTERNATIONAL MONETARY FUND

 

1999 926

 

September 26, 1999

 

中央銀行貨幣政策透明化優良實務

GOOD TRANSPARENCY PRACTICES FOR MONETARY POLICY BY CENTRAL BANKS

 

I. 中央銀行執行貨幣政策應有清楚的角色、職責和目的

I. Clarity of Roles, Responsibilities and Objectives of Central Banks for Monetary Policy

 

1.1貨幣政策的最終目的和制度架構應在相關的立法或規則中清楚地界定,若適當時,包括制定中央銀行法。

1.1 The ultimate objective(s) and institutional framework of monetary policy should be clearly defined in relevant legislation or regulation, including, where appropriate, a central bank law.

 

1.1.1貨幣政策的最終目的應立法規定,並公開揭露和說明。

1.1.1  The ultimate objective(s) of monetary policy should be specified in legislation and publicly disclosed and explained.

 

1.1.2  The responsibilities of the central bank should be specified in legislation.

1.1.2中央銀行的職責應立法規定。

 

1.1.3設立中央銀行的立法應規定:中央銀行有權運用貨幣政策工具以達成政策目的。

1.1.3  The legislation establishing the central bank should specify that the central bank has the authority to utilize monetary policy instruments to attain the policy objective(s).

 

1.1.4 對外匯政策的制度性職責應公開揭露。

1.1.4  Institutional responsibility for foreign exchange policy should be publicly disclosed.

 

1.1.5 督促中央銀行盡責執行貨幣政策和其他被賦予職責的概括模式,應立法規定。

1.1.5  The broad modalities of accountability for the conduct of monetary policy and for any other responsibilities assigned to the central bank should be specified in legislation.

 

1.1.6若在例外狀況下,政府有權否決中央銀行政策決定時,則引用該項權力的條件和公開揭露的方式,應立法規定。

1.1.6  If, in exceptional circumstances, the government has the authority to override central bank policy decisions, the conditions under which this authority may be invoked and the manner in which it is publicly disclosed should be specified in legislation.

 

1.1.7中央銀行領導部門的首長和成員的任命程序、任期、和解任的一般性標準,應立法規定。

1.1.7  The procedures for appointment, terms of office, and any general criteria for removal of the heads and members of the governing body of the central bank should be specified in legislation.

 

1.2 貨幣與財政政策操作之間的制度性關係,應清楚界定。

 

1.2 The institutional relationship between monetary and fiscal operations should be clearly defined.

 

1.2.1 若允許中央銀行對政府授信、墊款、或給予透支,則允許辦理的條件和相關限額規定,應公開揭露。

1.2.1  If credits, advances, or overdrafts to the government by the central bank are permitted, the conditions when they are permitted, and any limits thereof, should be publicly disclosed.

 

1.2.2中央銀行對政府的授信、墊款、或給予透支的金額和條件,以及政府在中央銀行存款的金額和條件,應公開揭露。

1.2.2  The amounts and terms of credits, advances, or overdrafts to the government by the central bank and those of deposits of the government with the central bank should be publicly disclosed.

 

1.2.3中央銀行直接參與政府證券初級市場(若允許時)和次級市場的程序,應公開揭露。

1.2.3  The procedures for direct central bank participation in the primary markets for government securities, where permitted, and in the secondary markets, should be publicly disclosed.

 

1.2.4 中央銀行參與其他經濟部門(例如,透過持股、成為董事會成員、採購、提供收費的服務),必須依照清楚的原則和程序,以開放和公開的方式進行。

1.2.4  Central bank involvement in the rest of the economy (e.g., through equity ownership, membership on governing boards, procurement, or provision of services for fee) should be conducted in an open and public manner on the basis of clear principles and procedures.

 

 

1.2.5 中央銀行利潤分派和維護資本的方式,應公開揭露。

1.2.5  The manner in which central bank profits are allocated and how capital is maintained should be publicly disclosed.

 

1.3 中央銀行代表政府執行的代理者角色,應清楚界定。

1.3 Agency roles performed by the central bank on behalf of the government should be clearly defined.

 

1.3.1中央銀行若負有下列職責,應公開揭露:(i)管理對內和對外的公共債務,以及外匯; (ii)擔任政府的往來銀行; (iii)擔任政府的財務代理人;(iv) 在經濟和金融政策上,以及國際合作方面,擔任顧問。

1.3.1  Responsibilities, if any, of the central bank in (i) the management of domestic and external public debt and foreign exchange reserves, (ii) as banker to the government, (iii) as fiscal agent of the government, and (iv) as advisor on economic and financial policies and in the field of international cooperation, should be publicly disclosed.

 

1.3.2 在政府證券的初級市場發行、次級市場機制、保管服務、和交易的結算和清算機制方面,中央銀行、財政部、或其他獨立的公共機構間的職責劃分,應公開揭露。

1.3.2  The allocation of responsibilities among the central bank, the ministry of finance, or a separate public agency,3 for the primary debt issues, secondary market arrangements, depository facilities, and clearing and settlement arrangements for trade in government securities, should be publicly disclosed. 

 

II. 訂定和報告貨幣政策決定的公開程序

 

II. Open Process for Formulating and Reporting Monetary Policy Decisions

 

2.1 架構、工具、和其他用來追求貨幣政策目的的目標,應公開揭露和說明。

2.1 The framework, instruments, and any targets that are used to pursue the objectives of monetary policy should be publicly disclosed and explained. 

 

2.1.1 規範貨幣政策工具和操作的程序和實務,應公開揭露和說明。 2.1.1          The procedures and practices governing monetary policy instruments and operations should be publicly disclosed and explained.

 

2.1.2在貨幣政策操作和其他的市場操作,適用於中央銀行與其交易對手往來關係和交易的規則和程序,應公開揭露。

2.1.2  The rules and procedures for the central bank's relationships and transactions with counter parties in its monetary operations and in the markets where it operates should be publicly disclosed.

 

2.2 若有一永久性的貨幣決策部門,集會評估經濟基本面的發展、監控貨幣政策目的的達成進度、訂定未來一段期間的政策,則關於該部門的組成、架構、和功能的資訊,應公開揭露。

2.2    Where a permanent monetary policy-making body meets to assess underlying economic developments, monitor progress toward achieving its monetary policy objective(s), and formulate policy for the period ahead, information on the composition, structure, and functions of that body should be publicly disclosed.

 

2.2.1 若貨幣決策部門依照預定日程定期集會評估經濟基本面的發展、監控貨幣政策目的的達成進度、訂定未來一段期間的政策,則預定的集會日程應公開揭露。

2.2.1  If the policy-making body has regularly scheduled meetings to assess underlying economic developments, monitor progress toward achieving its monetary policy objective(s), and formulate policy for the period ahead, the advance meeting schedule should be publicly disclosed.

 

2.3 修改貨幣政策工具的設定時(微調除外),應及時公開宣佈並說明。

2.3 Changes in the setting of monetary policy instruments (other than fine-tuning measures) should be publicly announced and explained in a timely manner.

 

2.3.1 中央銀行應在預先宣佈的延後時限內,公開揭露其貨幣政策決定的主要考慮點。

2.3.1  The central bank should publicly disclose, with a preannounced maximum delay, the main considerations underlying its monetary policy decisions.

 

2.4 中央銀行應就貨幣政策目的達成進度,以及達成上述目的的展望,定期發表公開說明書。該項機制得視貨幣政策架構(包括匯率制度)而有不同。

2.4 The central bank should issue periodic public statements on progress toward achieving its monetary policy objective(s) as well as prospects for achieving them. The arrangements could differ depending on the monetary policy framework, including the exchange rate regime.

 

2.4.1 中央銀行應定期向社會大眾說明其貨幣政策目的,其中包含其理論依據、數量目標和工具(若適用時)、和重要的基本假設等。

2.4.1  The central bank should periodically present its monetary policy objectives to the public, specifying, inter alia, their rationale, quantitative targets and instruments where applicable, and the key underlying assumptions.

 

2.4.2 中央銀行應依照預定的時間表,就總體經濟情勢的演變及其對貨幣政策目的的影響,向社會大眾提出報告。

2.4.2  The central bank should present to the public on a specified schedule a report on the evolving macroeconomic situation, and their implications for its monetary policy objective(s).

 

2.5 擬議對貨幣政策規則架構進行技術性變革時,原則上應在適當期限內接受公評。

2.5 For proposed substantive technical changes to the structure of monetary regulations, there should be a presumption in favor of public consultations, within an appropriate period.

 

2.6 有關金融機構為貨幣政策目的向中央銀行申報資料的規則,應公開揭露。

2.6 The regulations on data reporting by financial institutions to the central bank for monetary policy purposes should be publicly disclosed.

 

III. 提供社會大眾貨幣政策資訊

 

III. Public Availability of Information on Monetary Policy

 

3.1 中央銀行資料的編製和發表,應符合有關資料的涵蓋範圍、期間、及時性、和社會大眾取得管道的標準,並與國際貨幣基金資料發表標準一致。

3.1 Presentations and releases of central bank data should meet the standards related to coverage, periodicity, timeliness of data and access by the public that are consistent with the International Monetary Fund's data dissemination standards.

 

3.2 中央銀行應依照預先宣佈的時間表,公開揭露其資產負債表,並在預定的時間間隔之後,公開揭露所選擇的市場交易合計資訊。

3.2 The central bank should publicly disclose its balance sheet on a preannounced schedule and, after a predetermined interval, publicly disclose selected information on its aggregate market transactions.

 

3.2.1 中央銀行應依照預先宣佈的時間表,經常公開揭露其簡明資產負債表。詳細的中央銀行資產負債表應依照適當且明文公開的會計準則編製,並應由中央銀行至少每年公開揭露一次。

3.2.1  Summary central bank balance sheets should be publicly disclosed on a frequent and preannounced schedule. Detailed central bank balance sheets prepared according to appropriate and publicly documented accounting standards should be publicly disclosed at least annually by the central bank.

 

3.2.2 有關中央銀行貨幣政策操作的資訊,包括合計數量和轉融通條件,或其他的服務項目(在不違背維護商業機密的前提下),應依照預先宣佈的時間表公開揭露。

3.2.2  Information on the central bank's monetary operations, including aggregate amounts and terms of refinance or other facilities (subject to the maintenance of commercial confidentiality) should be publicly disclosed on a preannounced schedule.

 

3.2.3 在不侵犯個別機構資訊的機密和隱私下,且不會破壞金融穩定時,中央銀行應透過適當的中央銀行聲明書,公開揭露其緊急財務支援的合計資訊。

3.2.3  Consistent with confidentiality and privacy of information on individual firms, aggregate information on emergency financial support by the central bank should be publicly disclosed through an appropriate central bank statement when such disclosure will not be disruptive to financial stability.

 

3.2.4 關於國家的外匯存底資產、負債、和貨幣主管當局的承諾債務的資訊,應依照預先宣佈的時間表公開揭露,以符合國際貨幣基金的資料發表標準。

3.2.4  Information about the country's foreign exchange reserve assets, liabilities and commitments by the monetary authorities should be publicly disclosed on a preannounced schedule, consistent with the International Monetary Fund's Data Dissemination Standards.

 

3.3 中央銀行應建立並維持提供社會大眾資訊的服務。

3.3 The central bank should establish and maintain public information services.

 

3.3.1 中央銀行應有出版計畫,包括年報。

3.3.1  The central bank should have a publications program, including an Annual Report.

 

3.3.2中央銀行高級官員應能隨時對社會大眾說明其機構的目的和績效,且原則上應向社會大眾發表上述聲明的書面文字。

3.3.2  Senior central bank officials should be ready to explain their institution's objective(s) and performance to the public, and have a presumption in favor of releasing the text of their statements to the public.

 

3.4 中央銀行發佈的規則本文,應隨時提供社會大眾。

3.4 Texts of regulations issued by the central bank should be readily available to the public. 

 

IV. 中央銀行的權責化和確保健全性

 

IV. Accountability and Assurances of Integrity by the Central Bank

 

4.1 中央銀行官員應能赴指定的政府機關,報告其貨幣政策的執行情形、說明其機構的政策目的、描述其在達成目的方面的績效表現,以及若適當時,就經濟和金融體系情況交換意見。

4.1 Officials of the central bank should be available to appear before a designated public authority to report on the conduct of monetary policy, explain the policy objective(s) of their institution, describe their performance in achieving their objective(s), and, as appropriate, exchange views on the state of the economy and the financial system.

 

4.2中央銀行應依照預先宣佈的時間表,公開揭露有關其業務的經查核審定財務報表。

4.2 The central bank should publicly disclose audited financial statements of its operations on a preannounced schedule.

 

4.2.1 財務報表應經由獨立的稽核人員查核簽證。有關會計政策的資訊和對財務報表的保留意見,應成為公開揭露財務報表的一部份。

4.2.1  The financial statements should be audited by an independent auditor. Information on accounting policies and any qualification to the statements should be an integral part of the publicly disclosed financial statements.

 

4.2.2確保作業健全性的內部治理程序,包括內部稽核機制,應公開揭露。

4.2.2  Internal governance procedures necessary to ensure the integrity of operations, including internal audit arrangements, should be publicly disclosed.

 

4.3 關於中央銀行營業費用和收入的資訊,應每年公開揭露。

4.3 Information on the expenses and revenues in operating the central bank should be publicly disclosed annually.

 

4.4中央銀行官員和職員處理個人財務的行為標準,以及防範利益衝突(包括一般性的受信託人義務)的規則,應公開揭露。

4.4 Standards for the conduct of personal financial affairs of officials and staff of the central bank and rules to prevent exploitation of conflicts of interest, including any general fiduciary obligation, should be publicly disclosed.

 

4.4.1 有關中央銀行官員和職員在執行職務方面的法律保障資訊,應公開揭露。

4.4.1  Information about legal protections for officials and staff of the central bank in the conduct of their official duties should be publicly disclosed.

 

有關金融主管機構金融政策透明化的優良實務

GOOD TRANSPARENCY PRACTICES FOR FINANCIAL POLICIES BY FINANCIAL AGENCIES

 

V. 主管金融政策的金融主管機構有清楚的角色、職責、和目的

V. Clarity of Roles, Responsibilities and Objectives of Financial Agencies Responsible for Financial Policies4

 

5.1 金融主管機構的原則性目的和制度架構應清楚界定,最好納入相關的立法或規則中。

5.1 The broad objective(s) and institutional framework of financial agencies should be clearly defined, preferably in relevant legislation or regulation.

 

5.1.1 金融主管機構的原則性目的應公開揭露並說明。

5.1.1  The broad objective(s) of financial agencies should be publicly disclosed and explained.

 

5.1.2金融主管機構的職責和執行金融政策的權力,應公開揭露。

5.1.2  The responsibilities of the financial agencies and the authority to conduct financial policies should be publicly disclosed.

 

5.1.3 若適用時,督促金融主管機構盡責的原則性方式,應公開揭露。

5.1.3  Where applicable, the broad modalities of accountability for financial agencies should be publicly disclosed.

 

5.1.4 若適用時,金融主管機構領導部門首長和成員的任用程序、任期、和解任的一般性標準,應公開揭露。

5.1.4  Where applicable, the procedures for appointment, terms of office, and any general criteria for removal of the heads and members of the governing bodies of financial agencies should be publicly disclosed.

 

5.2 各金融主管機構間的關係,應公開揭露。

5.2 The relationship between financial agencies should be publicly disclosed.

 

5.3 支付系統監管機構的角色,應公開揭露。

5.3 The role of oversight agencies with regard to payment systems should be publicly disclosed.

 

5.3.1 監管支付系統的機構對於會影響具有系統重要性支付系統健全性的一般性政策原則(包括風險管理政策),應促成其及時公開揭露。

5.3.1  The agencies overseeing the payment system should promote the timely public disclosure of general policy principles (including risk management policies) that affect the robustness of systemically important payment systems.

 

5.4 若金融主管機構對自律組織負有監管職責(例如,支付系統),則彼此間的關係應公開揭露。

5.4 Where financial agencies have oversight responsibilities for self-regulatory organizations (e.g., payment systems), the relationship between them should be publicly disclosed.

 

5.5 若自律組織被授權執行部份的規範和檢查程序,則應遵循適用於金融主管機構相同的透明化優良實務。

5.5 Where self-regulatory organizations are authorized to perform part of the regulatory and supervisory process, they should be guided by the same good transparency practices specified for financial agencies.  

 

VI. 金融政策的訂定和報告應有公開的程序

 

VI. Open Process for Formulating and Reporting of Financial Policies

 

6.1 金融主管機構執行政策,應透明化、符合機密維護的考量,以及維護監理和監管機構行動效果的需求。

6.1 The conduct of policies by financial agencies should be transparent, compatible with confidentiality considerations and the need to preserve the effectiveness of actions by regulatory and oversight agencies 

 

6.1.1 規範金融政策執行的法規架構和作業程序,應公開揭露並說明。

6.1.1 The regulatory framework and operating procedures governing the conduct of financial policies should be publicly disclosed and explained.

 

6.1.2 金融機構向金融主管機構申報財務資料的規則,應公開揭露。

6.1.2 The regulations for financial reporting by financial institutions to financial agencies should be publicly disclosed.

 

6.1.3 規範有組織金融市場(包括在市場交易金融工具的發行機構)運作的規則,應公開揭露。

6.1.3 The regulations for the operation of organized financial markets (including those for issuers of traded financial instruments) should be publicly disclosed.

 

6.1.4 若金融主管機構向金融機構收費,則費用結構應公開揭露。

6.1.4 Where financial agencies charge fees to financial institutions, the structure of such fees should be publicly disclosed.

 

6.1.5 若適用時,各金融主管機構(包括中央銀行)間資訊分享和諮詢的正式程序,包括國內和國外,應公開揭露。

6.1.5 Where applicable, formal procedures for information sharing and consultation between financial agencies (including central banks), domestic and international, should be publicly disclosed.

 

6.2 金融政策方面的重要變革,應及時地公開宣佈並說明。

6.2 Significant changes in financial policies should be publicly announced and explained in a timely manner.

 

6.3 金融主管機構應定期發表公開報告,說明其欲如何達成整體政策目的。

6.3 Financial agencies should issue periodic public reports on how their overall policy objectives are being pursued.

 

6.4 擬議對金融法令架構進行實質上的技術變革時,原則上應有適當的公評期間。

6.4 For proposed substantive technical changes to the structure of financial regulations, there should be a presumption in favor of public consultations, within an appropriate period. 

 

VII. 提供社會大眾有關金融政策的資訊

VII. Public Availability of Information on Financial Policies

 

7.1 金融主管機構應就其職責範圍內的金融體系部門的主要演變,定期發表公開報告。

7.1 Financial agencies should issue a periodic public report on the major developments of the sector(s) of the financial system for which they carry designated responsibility.

 

7.2 金融主管機構在符合機密維護需求下,應尋求確保及時且定期公開發表與其管轄職責有關的合計資料報告。

7.2 Financial agencies should seek to ensure that, consistent with confidentiality requirements, there is public reporting of aggregate data related to their jurisdictional responsibilities on a timely and regular basis.

 

7.3 若可適用,金融主管機構應依照預先宣佈時間表,公開揭露其資產負債表,並在經過預定的時間間隔之後,公開揭露合計市場交易資訊。

7.3 Where applicable, financial agencies should publicly disclose their balance sheets on a preannounced schedule and, after a predetermined interval, publicly disclose information on aggregate market transactions.

 

7.3.1 在符合個別機構資訊機密和隱私維護下,且不會破壞金融穩定時,金融主管機構應透過適當的聲明,公開揭露其緊急財務支援的合計資訊。

7.3.1 Consistent with confidentiality and privacy of information on individual firms, aggregate information on emergency financial support by financial agencies should be publicly disclosed through an appropriate statement when such disclosure will not be disruptive to financial stability.

 

7.4 金融主管機構應建立並維持提供社會大眾資訊的服務。

7.4 Financial agencies should establish and maintain public information services.

 

7.4.1 金融主管機構應有出版計畫,包括就其主要活動定期發表公開報告,至少每年一次。

7.4.1 Financial agencies should have a publications program, including a periodic public report on their principal activities issued at least annually.

 

7.4.2金融主管機構高級官員應隨時能向社會大眾說明其機構的目的和績效表現,且原則上應發表上述對社會大眾聲明的本文。

7.4.2 Senior financial agency officials should be ready to explain their institution's objective(s) and performance to the public, and have a presumption in favor of releasing the text of their statements to the public.

 

7.5 金融主管機構發佈的規則,及其他一般適用的指令和指導準則,應隨時提供社會大眾本文。

7.5 Texts of regulations and any other generally applicable directives and guidelines issued by financial agencies should be readily available to the public.

 

7.6 若有存款保險保證、保單持有人保證、或其他的客戶資產保障方案,則應公開揭露關於該類保障的性質和方式、作業程序、經費來源、該類機制的績效表現等資訊。

7.6 Where there are deposit insurance guarantees, policy-holder guarantees, and any other client asset protection schemes, information on the nature and form of such protections, on the operating procedures, on how the guarantee is financed, and on the performance of the arrangement, should be publicly disclosed.

 

7.7 若金融主管機構監管消費者保障機制(例如,爭議調解程序),則應公開揭露有關該類機制的資訊。

7.7 Where financial agencies oversee consumer protection arrangements (such as dispute settlement processes), information on such arrangements should be publicly disclosed. 

 

VIII. 金融主管機構的權責化和健全性的確保

VIII. Accountability and Assurances of Integrity by Financial Agencies

 

8.1金融主管機構官員應能赴指定的政府機關,報告其金融政策的執行情形、說明其機構的政策目的、描述其在達成目的方面的績效表現,以及若適當時,就金融體系情況交換意見。

8.1 Officials of financial agencies should be available to appear before a designated public authority to report on the conduct of financial policies, explain the policy objective(s) of their institution, describe their performance in pursuing their objective(s), and, as appropriate, exchange views on the state of the financial system.

 

8.2 若適用時,金融主管機構應依照預先宣佈的時間表,公開揭露其業務上經查核審定的財務報表。

8.2 Where applicable, financial agencies should publicly disclosed audited financial statements of their operations on a preannounced schedule.

 

8.2.1 若有財務報表,應由獨立的稽核人員查核簽證。有關會計政策的資訊和對財務報表的保留意見,應成為公開揭露財務報表的一部份。

8.2.1 Financial statements, if any, should be audited by an independent auditor. Information on accounting policies and any qualification to the statements should be an integral part of the publicly disclosed financial statements.

 

8.2.2確保作業健全性必要的內部治理程序,包括內部稽核機制,應公開揭露。

8.2.2     Internal governance procedures necessary to ensure the integrity of operations, including internal audit arrangements, should be publicly disclosed.

 

8.3 若適用時,有關金融主管機構業務費用和收入的資訊,應每年公開揭露。

8.3 Where applicable, information on the operating expenses and revenues of financial agencies should be publicly disclosed annually.

 

8.4金融主管機構官員和職員處理個人財務的行為標準,以及防範利益衝突(包括一般性的受信託人義務)的規則,應公開揭露。

8.4 Standards for the conduct of personal financial affairs of officials and staff of financial agencies and rules to prevent exploitation of conflicts of interest, including any general fiduciary obligation, should be publicly disclosed.

 

8.4.1有關金融主管機構官員和職員在執行職務時的法律保障資訊,應公開揭露。

8.4.1 Information about legal protections for officials and staff of financial agencies in the conduct of their official duties should be publicly disclosed. 

附錄:用語定義

Annex: Definitions of Certain Terms

 

為了方便表達,使用某些一般性用語來概括涵蓋不同的制度機制。本規範用語定義如下。

To facilitate presentation, certain general terms are used to capture different institutional arrangements in a summary fashion. The following descriptive definitions are used in the Code.

 

中央銀行

Central Bank

 

國際貨幣基金各會員國執行國家貨幣政策職責的制度機制,各有不同。大部分國際貨幣基金會員國將該職責指派予中央銀行,或在多國中央銀行機制下,指派予由成員國中央銀行組成的中央銀行體系。然而,有許多國家,這項任務被指派予「金融管理局」或「貨幣兌換局」。 為了方便表達,本規範中,「中央銀行」一詞指,泛指負責執行貨幣政策的機構,有可能不是中央銀行。

The institutional arrangements for assigning responsibility for the conduct of a country's monetary policy differ among the Fund's membership. For most Fund members, this responsibility is assigned to the central bank or to a system of constituent national central banks in a multinational central bank arrangement. There are a number of countries, however, where this role is designated to a "monetary authority" or to a "currency board." To facilitate presentation, the term "central bank" in the Code refers to the institution responsible for conducting monetary policy, which may or may not be a central bank.

 

金融主管機構

Financial Agencies

 

在規範、檢查、和監管金融體系和支付系統方面,由哪個政府單位單獨負責或負主要職責,各國際貨幣基金會員國的制度存在很大差異。有些國家,設立一個機構負責規範和檢查各類金融機構 (銀行業、保險業、和證券商)和市場(證券、衍生性商品、和商品期貨)。大多數國家對金融業部門的監管職責,係由多個機構分擔。因此,有些國家對銀行的規範和檢查職責,或對銀行存款的保險政策,係指派中央銀行執行、或指派一家獨立的銀行檢查或存款保險機構辦理、或劃分予多個政府單位辦理。同樣地,與某些類金融機構監管有關的政策執行職責,也會指派予中央銀行或專責機構辦理。有些情況(例如,支付系統),則由公共機構監管民間自律組織的業務。為了方便表達,「金融主管機構」一詞用來指,規範、檢查、和監管金融體系和支付系統的機制,包括市場和機構,目的在於促進金融穩定、市場效率、和客戶資產和消費者的保護。(在由中央銀行執行金融政策職責的情況,本規範第VVIII節所列有關金融主管機構的某些透明化優良實務,已經在第IIV節中有關中央銀行透明化優良實務中列舉出。

A wide range of institutional arrangements prevail among Fund members with regard to which unit of government carries exclusive or primary responsibility for the regulation, supervision, and oversight of the financial and payment systems. In a few countries, an agency has been established with responsibility for regulating and supervising an array of financial institutions (banking, insurance, and securities firms) and markets (securities, derivatives, and commodity futures). For most countries, the oversight responsibility for the financial sector is shared among several agencies. Thus, responsibility for the conduct of bank regulation and supervision or for bank deposit insurance policies in some countries is assigned to the central bank, or to an independent bank supervisory or deposit insurance agency, or split among several units of government. Similarly, responsibility for the conduct of policies related to the oversight of certain categories of financial institutions is assigned to the central bank or to a specialized agency. In some cases (e.g., payment systems) a public agency oversees the activities of private sector self-regulatory bodies. To facilitate presentation, the phrase "financial agencies" is used to refer to the institutional arrangements for the regulation, supervision, and oversight of the financial and payment systems, including markets and institutions, with the view to promoting financial stability, market efficiency, and client-asset and consumer protection. (Where the central bank carries responsibility for financial policies, some of the good transparency practices listed for financial agencies in Sections V-VIII of the Code are already specified in the transparency practices listed for central banks in Sections I-IV of the Code.)

 

金融政策

Financial Policies

 

本規範所稱「金融政策」,指與規範、檢查、和監管金融體系和支付系統相關的政策,包括市場和機構。目的在於促進金融穩定、市場效率、和客戶資產和消費者的保護。

The term "financial policies" in the Code refers to policies related to the regulation, supervision, and oversight of the financial and payment systems, including markets and institutions, with the view to promoting financial stability, market efficiency, and client-asset and consumer protection.

 

政府

Government

 

除非在本規範中特別指出某一個政府單位,否則,所稱「政府」,指政府的行政部門,或特定的部會或公共機構,視所討論議題或特定國家對政府的公認傳統而定。

Unless a particular unit of government is specifically identified in the Code, reference to "government" in the Code refers either to the executive branch of government or to a particular ministry or public agency, depending on the issue at hand or the established tradition of government in particular countries.