금산분리 법제의 역사적 및 철학적 기초에 대한 검토

다국어 초록 (Multilingual Abstract)

This paper inquires into the historical and Philosophical Underpinnings of the separation of banking and commerce, and discusses the meaning and scope of the separation. The separation principle began in Venice where bank was born, which means that the separation principle is one of the oldest principles that has lasted the most in banking regulation. In the early history of banks in the U.K. and U.S., the separation was adopted as a foundational principle. In Korea also, the separation has stood long since it was adopted in the Interim Measure Act for Financial Institutions of 1961 and Banking Act of 1982. Why the separation of banking and commerce? First, it concerns the bank soundness, systemic safety and depositor protection. Second, the regulatory scope in which the separation rule applies has been expanded from ‘banking in nature’ to ‘financial in nature’under the GLB Act in the U.S. Fourth, financial safety net such as deposit insurance includes securities firms, insurance, saving institution as well as banks. According to Mark Roe(1994), the separation principle has contributed to the competitiveness of firms and development of nation economy.

참고문헌 (Reference)

1 이규성, "한국의 외환위기: 발생, 극복, 그 이후" 박영사 2006

2 김자봉, "인터넷전문은행은 은산분리규제의 예외인가? -소유와 지배의 분리원칙에 대한 논의를 중심으로-" 한국금융법학회 15 (15): 175-208, 2018

3 박경서, "은행의 소유 지배구조에 관한 연구" 한국금융연구원 1997

4 김용재, "은행법원론" 박영사 2019

5 김자봉, "은산분리의 실증분석: 은행과 산업의 결합에 따른 비용-편익의 추정을 중심으로" 한국금융학회 35 (35): 113-145, 2021

6 이우관, "금융자율화의 효율적 추진방향" 한국경제연구원 1988

7 이동걸, "금융기관을 이용한 경제력 집중: 문제점 및 개선방안" 한국금융연구원 14 (14): 2005

8 고동원, "금융규제법 개론" 박영사 2019

9 전성인, "금융과 산업의 분리 : 이론과 정책과제" 금융학회 2008

10 금융개혁위원회, "금융개혁 종합보고서" 1999

11 김자봉, "금산분리의 법리 - 법적 권리 간 이해상충의 경제적 인센티브와 충돌의 사회적 비용을 중심으로" 은행법학회 13 (13): 91-117, 2020

12 김자봉, "금산분리의 경제 이론" (98) : 2019

13 "https://www.thompsoncoburn.com/docs/default-source/default-document-library/the-future-of-b anking-in-america73df2a26dda26f05acb8ff0000ba5cc9.pdf?sfvrsn=197d45ea_0"

14 Arthur E. Wilmarth, Jr., "Wal-Mart and the Separation of Banking and Commerce" 39 (39): 2007-, 2007

15 Joshua Cutler, "Wal-Mart and Banking"

16 Cantwell F. Muckenfuss III, "The separation of banking and commerce revisited, in The Mixing of Banking and Commerce"

17 Bair, Sheila C, "The future of banking in America" 16 (16): 2004

18 Bair, Sheila C., "The fourth wave – the mixing of banking and commerce" 2007

19 Shull, Bernard, "The Separation of Banking and Commerce in the United States: an Examination of Principal Issues" OCC 1999

20 Bernard Shull, "The Separation of Banking and Commerce in the United States" FDIC 1999

21 Muckenfuss III, "The Separation of Banking and Commerce Revisited, in The Mixing of Banking and Commerce"

22 Krainer, John, "The Separation of Banking and Commerce" 16 : 2000

23 Berger, Allen N, "The Roles of Corporate Governance in Bank Failures during the Recent Financial Crisis" 48 (48): 2016

24 Omarova, Saule T., "The Merchants of Wall Street: Banking, Commerce and Commodities" 98 : 265-, 2013

25 FDIC, "The Future of Banking: The Structure and Role of Commercial Affiliations"

26 FDIC Office of Inspector General, "The Division of Supervision and Consumer Protection’s Approach for Supervising Limited-Charter Depository Institutions"

27 FDIC, "Supervisory Insights - The FDIC's Supervision of Industrial Loan Companies: A Historical Perspective"

28 Roe, Mark J., "Strong Managers Weak Owners:The Political Roots of American Finance" Princeton University 1994

29 U.S. Department of Treasury, "STATEMENT BY PRESIDENT BILL CLINTON AT THE SIGNING OF THE FINANCIAL MODERNIZATION BILL"

30 GAO, "Recent Asset Growth and Commercial Interest Highlight Differences in Regulatory Authority"

31 Kolari, James, "Predicting large US Commercial Bank Failures" 54 : 2002

32 Neel, Michelle Clark, "Industrial loan companies come out of the shadows"

33 Campbell, John Y, "In Search of Distressed Risk" LXIII (LXIII): 2008

34 김자봉, "ILC는 은산분리규제의 예외인가? -은산분리원칙에 대한 미국 감독당국의 정책수단과 “ILC 예외제도”의 시사점" 은행법학회 11 (11): 203-237, 2018

35 "H.R. 4173 (111th): Dodd-Frank Wall Street Reform and Consumer Protection Act"

36 Barr, Michael S, "Financial Regulation: Law and Policy" Foundation Press 184-, 2016

37 Park, Sangkyunk, "Effects of the affiliation of banking and commerce on the firm’s investment and the bank’s risk" 24 : 2000

38 Martin, Daniel, "Early Warning of Bank Failures" 1 : 1977

39 "Dodd Frank Act Section 603. MORATORIUM AND STUDY ON TREATMENT OF CREDIT CARD BANKS, INDUSTRIAL LOAN COMPANIES, AND CERTAIN OTHER COMPANIES UNDER THE BANK HOLDING COMPANY ACT OF 1956"

40 "Directive 2006/48/EC of the taking up and pursuit of the business of credit institutions"

41 Seidman, L. William, "Comments at the FDIC Symposium, The Future of Banking: The Structure and Role of Commercial Affiliations"

42 GAO, "Characteristics and Regulation of Exempt Institutions and the Implications of Removing the Exemptions"

43 Erkki K. Laitine, "Bankruptcy prediction: Application of the Taylor’s expansion in logistic regression" 9 : 2000

44 Tenhundfeld, Mark J., "Banking and Commerce: 1+1=0, The mixing of banking and Commerce"

45 Macey, Jonathan R., "Banking Law and Regulation" Aspen Law & Business 2001

46 Mark Olson, "Are banks still special?, remarks at the Annual Washington Conference of the Institute of International Bankers" BIS Review 20 : 2006

47 The U.S. House of Representatives 101st Congress, "An international comparison of banking regulatory structures, A staff study for the Committee on Banking, Finance, and Urban Affairs" 1990

48 Comizio, V. Gerard, "After the Dodd-Frank Indusrial Loan Company Moratorium: What's Next" 17 : 2013