德國金融監理機關獨立性之研究

The independence of German federal financial supervision agency

胡博硯(Po-Yen Hu)

《致理法學》 5期 (2009/03) Pp. 71-105

摘要

德國聯邦金融監理署乃是德國銀行法之主管機關，該署乃二零零二年將原本三各分別管轄證券業、銀行業以及保險業之管理機關合併合成，其成立之目的在於監督管理金融業。但該署之組織乃是公法營造物法人，藉此取得部分的獨立性。此外，聯邦銀行在金融監理業務的執行上也佔有一席之地，而該行乃是德國之中央銀行，依據聯邦銀行法之規定具有所謂的獨立性。換言之，聯邦銀行在執行其職務上並不受聯邦政府命令之拘束。則如此一來兩機關如何合作，令人好奇。此外，聯邦金融監理署乃是以獨立的營造物法人而設置，該獨立的營造物法人並非所謂的獨立行政機關。雖然在財政上獨立於聯邦政府之外，但是人事任用上，以及在決策上，仍然脫聯邦政府之支配，聯邦財政部對聯邦金融監理署仍有合法性監督，甚或是合目的性監督之權限。另一方面，何謂獨立性行政機關，金融監理機關是否應由獨立行政機關執行之，亦有待釐清。

關鍵字

金融監理 ； 聯邦銀行 ； 聯邦金融監理署 ； 獨立行政機關 ； 銀行法

並列摘要

German is effected by the financial crisis in a substantial degree. However, until now, the crisis calmed down temporarily by the effective governmental action. The corporation between the German federal financial supervision agency, which is the official authority for the financial market, the German federal bank, and the European central bank is the most important factor to create a stable financial market. Comparing to other countries in the Europe, German is later in industrialization and developing financial market. In the beginning of the twentieth century, general financial supervision system had not developed in German. The development of the financial supervision system had a close relationship with the financial crisis in the early twentieth century which originated in United states and then spread out to the world. Since then, German has developed a financial supervision system, and since the early stage of the development, the German central bank has played an important role in the financial system. Even though under Nazi's period, this kind of double system had been changed by Nazi's dictatorial politics. Due to Germany organized a new central bank-German federal bank (Deutsche Bundesbank) after the war, and German federal bank cooperated with Government again so that the importance of German federal bank to supervise financial affairs became greater. But here arises the question, how can Bundesbank as an independent entity to cooperate with the Ferderal Financial Agency subordinate to German Government.

並列關鍵字

Banking Supervision ； Banking Law ； Germany Financial Supervisory Authority ； Federal Bank