Shujin Xie

I n addition to the centralised single financial regulatory system, let us look at two other types of financial regulatory systems: the two-set plurality banking regulatory system, exemplified by the United States, and the one-level plurality banking regulatory system, exemplified by France. In the US, the supervision of financial institutions is divided between the OCC, FED and FDIC. Some agencies are responsible for this(Shenghu Wang,2013). Banks in the United States are divided into federal law banks and state law banks. In recent years, in order to adapt to changes in the economic and financial environment, the US government has begun to reform this supervisory system, replacing the original system of separate regulation by institution with a system of separate regulation by financial services function.(Min Wu,2007) The French banking sector is regulated by the Banque De France, the Conseil National de la Crédit and the Commision Bancaire, which oversees compliance with banking law

The financial regulatory models of countries around the world can be broadly classified into three categories. The first category, the two-set pluralistic banking regulatory system: for example, the United States, Canada, etc. Two-tier means that both central and local governments have the power to regulate banks. For example, the US federal government and the individual state governments have the power to license and regulate banks. Multiple means that there are several regulators. For example, the US Federal Reserve Bank and the Treasury Department both have the power to regulate financial institutions. The second type of system is a pluralistic system of banking supervision: for example, France, Germany, etc. Financial supervision is centralised, but two or more institutions are responsible for financial supervision. The third type: a centralised single system of financial supervision. Examples include the UK, Singapore and China. The regulatory authority is concentrated in one cent