0
1 1
2 5 2000 10-12 2
6 % 7 3
4
5
6
9 PricewaterhouseCoopers2000, An Executive s Guide to U.S. Financial Modernization, 2000.1 7
8
10 9
11 10
1. 3. 11
12 12 12
13
14
13 4 2000 2001 2002 3 3 3 37,357 35,615 33,547 10.1 23,466 22,391 21,342 9.0 29,324 27,173 25,027 14.6 UFJ 27,646 26,147 24,205 12.4 Business2002 7 13 15
1985 1990 1995 1998 1999 11.93 10.75 8.41 8.06 7.79 7.04 7.74 3.20 2.27 2.14 3.64 2.86 3.42 3.18 3.31 1.37 1.03 0.47 0.39 0.50 6.61 6.59 8.01 8.49 8.49 3.45 3.91 4.90 6.50 5.02 12.71 10.18 22.42 20.63 23.92 ROE 14.85 9.74-3.35-12.37 5.73 0.84 0.67 1.80 1.75 2.03 ROA 0.51 0.38-0.16-0.80 0.29 0.91 0.69 1.81 1.81 2.04 0.51 0.38-0.17-0.38 0.21 2002 4 9 16
14 14 17
15 15 FDIC(1998) Managing The Crisis: The FDIC and RTC Experience. 1998,6 18
19
20
12. Dymski, Gary2002, The Global Bank Merger Wave: Implications for Developing Countries, UC Riverside, 13. Gramm, Philip 1999, Summary of Financial Services Modernization Act of 1999, Senate Banking Committee Press Release. 14. Kanaya, Akihiro & Woo, David2000, The Japanese Banking Crisis of the 1990s: Sources and Lessons, IMF. 15. McCallum, John 1998, Issues to Address Before Letting the Banks Merge, Policy Option. 21
16. PricewaterhouseCoopers2000, An Executive s Guide to U.S. Financial Modernization. 国 権状 権状 権状 22
A Comparison between the Financial Reform in the U.S. and Japan and its Implications for Taiwan Fu-Tien Hsu Specialist Economic Research Department, CEPD Abstract In the 1980 s, the U.S. went through a critical banking crisis that brought down thousands of banks and thrift institutions. In response, the U.S. government undertook financial reform and strengthened financial supervision, which helped bring about a recovery in its financial system. Japan also encountered the same problems in the 1990 s, but because of its inadequate disposal mechanism for systemic non-performing loans and deficiencies in its supervisory system, it has since remained in a state of persistent depression. The stark contrast between these two countries economic performance in the decade following the crisis can be attributed to their different approaches to dealing with their respective crises. In this respect, their contrasting experiences offer lessons for Taiwan s pursuit of financial reform. 23