20101211084118-1661. ﺑﺎﻧﻜﻲ ﺳﻴﺴﺘﻢ ﺩﺭ ﻧﻈﺎﺭﺕ
ﺑﻴﻦ ﻧﺎﻇﺮ ﻋﻨﻮﺍﻥ ﺑﻪ ﺑﺎﻝ ﻛﻤﻴﺘﻪ ﻧﻈﺎﺭﺗﻲ ﺍﺻﻮﻝ ﺑﺮ ﺗﻜﻴﻪ ﺑﺎﺍﻟﻤﻠﻞ
ﺩﻛﺘﺮﻣﻨﻈﻮﺭ ﺩﺍﻭﻭﺩ
١
/ﻳﺎﺩﻱ ﻣﻬﺪﻱﭘﻮﺭ
٢
)ﺩﺭﻳﺎﻓﺖ ﺗﺎﺭﻳﺦ١٤/١/٨٧-ﺗﺼﻮﻳﺐ ﺗﺎﺭﻳﺦ٢١/٣/٨٧(
ﭼﻜﻴﺪﻩ
ﺍﻫﺪﺍﻑ ،ﺍﻫﻤﻴﺖ ﺑﻪ ﺍﺩﺍﻣﻪ ﺩﺭ ﻭ ﻣﺮﻛﺰﻱ ﺑﺎﻧﻜﺪﺍﺭﻱ ﻓﻠﺴﻔﻪ ﺑﻪ ﺍﺑﺘﺪﺍ ﻣﻘﺎﻟﻪ ﺍﻳﻦ ﺩﺭﺩﺭ ﻧﻈﺎﺭﺕ ﻫﺎﻱﺭﻭﺵ ﻭ
ﻣﻲ ﺑﺎﻧﻜﻲ ﺳﻴﺴﺘﻢﭘﺮﺩﺍﺯﻳﻢ.ﻣﻲ ﮔﻔﺘﻪ ﺑﺎﻝ ﻛﻤﻴﺘﻪ ﻧﻈﺮ ﻣﻮﺭﺩ ﻣﺤﻮﺭﻱ ﺍﺻﻮﻝ ﻣﻮﺭﺩ ﺩﺭﺍﻳﻦ ﻛﻪ ﺷﻮﺩ
ﺑﺎﻧﻜﺪﺍﺭﻱ ﻗﻮﺍﻋﺪ ﻭ ﺍﺻﻮﻝ ﺩﺭ ﻫﻤﮕﺮﺍﻳﻲ ﺑﺮﺍﻱ ﺩﻭﻡ ﺟﻬﺎﻧﻲ ﺟﻨﮓ ﺍﺯ ﺑﻌﺪ ﻛﻪ ﺍﺳﺖ ﮔﺎﻣﻲ ﻣﻬﻤﺘﺮﻳﻦ
ﺍﺳﺖ ﺷﺪﻩ ﺑﺮﺩﺍﺷﺘﻪ ﺍﻟﻤﻠﻠﻲﺑﻴﻦ.ﻣﻨ ﻃﺮﻳﻖ ﺍﺯ ﻛﻪ ﻫﺴﺘﻨﺪ ﺍﺳﺘﺎﻧﺪﺍﺭﻫﺎﻳﻲ ،ﻣﺤﻮﺭﻱ ﺍﺻﻮﻝ ﺍﻳﻦﺭﺳﻤﻲ ﺎﺑﻊ
ﻧﺸﺪﻩ ﺍﻳﺠﺎﺩ ﺍﻟﻤﻠﻠﻲﺑﻴﻦﺍﻟﺰﺍ ﻣﺎﻫﻴﺖ ﻭﻟﻲ ﺍﻧﺪﺁﻭﺭﻡﻫﺎﺁﻥ ﺑﺎ ﺍﻧﻄﺒﺎﻕ ﻭ ﭘﺬﻳﺮﺵ ﺍﺯ ﻧﺎﮔﺰﻳﺮ ﺭﺍ ﻣﺎ ﺍﺻﻮﻝ ﺍﻳﻦ
ﻣﻲﻧﻤﺎﻳﺪ.ﺯﻳﺮﺳﺎﺧﺖ ﻧﻴﺎﺯﻣﻨﺪ ،ﻣﺆﺛﺮ ﻧﻈﺎﺭﺕ ﺍﻋﻤﺎﻝ ﻛﻪ ﺩﺍﺷﺖ ﻧﻈﺮ ﺩﺭ ﺑﺎﻳﺪﺑﺎ ﻣﻨﻄﺒﻖ ﻋﻤﻮﻣﻲ ﻫﺎﻱ
ﺍﺳﺖ ﺟﺪﻳﺪ ﺗﺤﻮﻻﺕ.ﻻﺯﻡ ﻗﺎﻧﻮﻧﻲ ﻫﺎﻱﺑﺴﺘﺮ ﺑﺮ ﻋﻼﻭﻩﻭﻣﺴﺘﻠﺰﻡ ،ﻣﺆﺛﺮ ﻧﻈﺎﺭﺕﺍﺳﺖ ﺻﺮﻳﺤﻲ ﺍﺻﻮﻝ
ﻣﺴﺌﻮﻟﻴﺖ ،ﺳﻴﺎﺳﻲ ﻫﺎﻱﻓﺸﺎﺭ ﺍﺯ ﺩﻭﺭ ﺑﻪ ﻛﻪ ﺳﺎﺯﺩ ﻗﺎﺩﺭ ﺭﺍ ﻧﺎﻇﺮﺍﻥ ﻛﻪﺍﻧﺠﺎﻡ ﺭﺍ ﺧﻮﺩ ﺍﺧﺘﻴﺎﺭﺍﺕ ﻭ ﻫﺎ
ﺩﻫﻨﺪ.ﺑﻴﻦ ﻧﺎﻇﺮ ﻋﻨﻮﺍﻥ ﺑﻪ ﺑﺎﻝ ﻛﻤﻴﺘﻪ ﻫﺎﻱﺍﺳﺘﺎﻧﺪﺍﺭ ﻛﻠﻴﺎﺕ ﻣﻌﺮﻓﻲ ﺑﻪ ﭘﺎﻳﺎﻧﻲ ﺑﺨﺶ ﺩﺭ ﺑﻨﺎﺑﺮﺍﻳﻦﺩﺭ ﺍﻟﻤﻠﻞ
ﻣﻲ ﻧﻈﺎﺭﺕ ﺑﺨﺶﻣﻨﻈﻮ ﺑﻪ ﺗﺎ ﻫﺴﺘﻨﺪ ﻣﻠﺰﻡ ﻫﺎﻛﺸﻮﺭ ﻛﻠﻴﻪ ﻛﻪ ﭘﺮﺩﺍﺯﻳﻢﻭ ﻣﺸﺎﺑﻪ ﺍﻟﮕﻮﻳﻲ ﺑﻪ ﺭﺳﻴﺪﻥ ﺭ
ﺍﻳﻦ ﺍﺯ ﻳﻜﺪﻳﮕﺮ ﺑﺎ ﻫﺎﻛﺸﻮﺭ ﺗﻌﺎﻣﻼﺕ ﻧﺰﺩﻳﻜﻲ ﻭ ﺷﺪﻥ ﺟﻬﺎﻧﻲ ﻋﺼﺮ ﺑﻪ ﺗﻮﺟﻪ ﺑﺎ ﻣﺸﺨﺺ ﺍﺳﺘﺎﻧﺪﺍﺭﻱ
ﻧﻤﺎﻳﻨﺪ ﭘﻴﺮﻭﻱ ﺍﻟﮕﻮ.ﻣﻲ ﭘﻴﺸﻨﻬﺎﺩ ﺍﺻﻼﺣﻲ ﻣﻮﺍﺭﺩ ﻭ ﻣﻮﺟﻮﺩ ﻫﺎﻱﺧﻸ ﭘﺎﻳﺎﻥ ﺩﺭﮔﺮﺩﺩ.
ﻛﻠﻴﺪﻱ ﻭﺍﮊﮔﺎﻥ:ﺳﻨﺘﻲ ﺑﺎﻧﻜﺪﺍﺭﻱ ،ﺍﺳﻼﻣﻲ ﺑﺎﻧﻜﺪﺍﺭﻱ ،ﻧﻈﺎﺭﺕ)ﻣﺘﻌﺎﺭﻑ(ﺷ ،ﺑﺎﻝ ﻛﻤﻴﺘﻪ ،ﺒﻜﻪ
ﺑﺎﻧﻜﻲ
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١-ﺻﺎﺩﻕ ﺍﻣﺎﻡ ﺩﺍﻧﺸﮕﺎﻩ ﻋﻠﻤﻲ ﻫﻴﺄﺕ ﻋﻀﻮ)ﻉ(
٢-ﺍﻗﺘﺼﺎﺩ ﻭ ﺍﺳﻼﻣﻲ ﻣﻌﺎﺭﻑ ﺍﺭﺷﺪ ﻛﺎﺭﺷﻨﺎﺱ
2. ﺷﻤﺎره13ﺑﻬﺎر87 88
۱-ﻣﻘﺪﻣﻪ
ﻓﺮﺍ ﻧﻈﺎﺭﺕﻳﻨﺪﻱﺑﺎﻧﮏ ﺗﺄﺳﻴﺲ ﭼﮕﻮﻧﮕﻲ ﺑﺮ ﻧﻈﺎﺭﺕ ﺷﺎﻣﻞ ﮐﻪ ﺍﺳﺖ ﻫﺎﻱﻣﺮﺣﻞ ﺳﻪﻳﻣ ﻳﮏ ﺎﺆﺳﺴﻪ
ﺑﺎﻷ ﻭ ﻓﻌﺎﻟﻴﺖ ﻧﺤﻮﻩ ﺑﺮ ﻧﻈﺎﺭﺕ ،ﻣﺎﻟﻲﻳﺎ ﺣﻤﺎﻳﺖ ،ﻭﺿﻌﻴﺖ ﺑﻬﺒﻮﺩ ﺑﺮﺍﻱ ﺍﺻﻼﺣﻲ ﺍﻗﺪﺍﻣﺎﺕ ﺍﻋﻤﺎﻝ ﺧﺮﻩ
ﺗﺰﺭ ﺑﻪ ﺍﺟﺒﺎﺭ ،ﻣﺪﻳﺮﻩ ﻫﻴﺄﺕ ﺍﻋﻀﺎﻱ ﺗﻐﻴﻴﺮ ،ﮐﺘﺒﻲ ﺗﺬﮐﺮ ﻗﺒﻴﻞ ﺍﺯ ﻣﺘﺨﻠﻒ ﺑﺎﻧﮏ ﻣﺠﺎﺯﺍﺕﺳﺮﻣﺎﻳﻪ ﻳﻖ
ﺍﺳﺖ ﻏﻴﺮﻩ ﻭ ﺳﻬﺎﻣﺪﺍﺭﺍﻥ ﺗﻮﺳﻂ.ﻫﺰﻳﻨﻪ ﭼﻨﺪ ﻫﺮﻣﺮﺍﺗﺐ ﺑﻪ ﻧﻈﺎﺭﺕ ﺩﺭ ﺿﻌﻒ ،ﺍﺳﺖ ﺳﻨﮕﻴﻦ ﻧﻈﺎﺭﺕ
ﻫﺰﻳﻨﺳﻨﮕﻴﻦ ﻪﺩﺍﺷﺖ ﺑﺮﺧﻮﺍﻫﺪ ﺩﺭ ﺗﺮﻱ.ﻣﻬﻢﻣﺎﻟﻲ ﻧﻈﺎﻡ ﺍﻋﺘﺒﺎﺭ ﻭ ﺛﺒﺎﺕ ﺣﻔﻆ ،ﻧﻈﺎﺭﺕ ﺭﮐﻦ ﺗﺮﻳﻦ
ﺯﻳﺮﺍ ،ﺍﺳﺖﻭﺳﭙﺮﺩﻩ ﺯﻳﺎﻥ ﻭ ﺿﺮﺭ ﺭﻳﺴﮏ ﮐﺎﻫﺶ ﺳﺒﺐ ﻋﻮﺍﻣﻞ ﺍﻳﻦ ﺟﻮﺩﺑﺴﺘﺎﻧﮑﺎﺭﺍﻥ ﺳﺎﻳﺮ ﻭ ﮔﺬﺍﺭﺍﻥ
ﺍﺳﺖ.ﺣﺎﮐﻤﻴﺖ ﺍﻋﻤﺎﻝ ﺑﺎ ﺭﺍ ﺑﺎﺯﺍﺭ ﺍﻧﻀﺒﺎﻁ ﻭ ﻧﻈﻢ ﺑﺎﻳﺪ ﺧﻮﺩ ﻭﻇﺎﻳﻒ ﺍﺟﺮﺍﻱ ﺩﺭ ﻧﺎﻇﺮﺍﻥ ،ﺯﻣﻴﻨﻪ ﺍﻳﻦ ﺩﺭ
ﺷﺮﮐﺘﻲ١
ﺍﺭﺷﺪ ﻣﺪﻳﺮﺍﻥ ﻭ ﻣﺪﻳﺮﻩ ﻫﻴﺄﺕ ﻣﺴﺌﻮﻟﻴﺖ ﺑﻪ ﻣﺮﺑﻮﻁ ﻗﻮﺍﻋﺪ ﺗﻨﻈﻴﻢ ﻭ ﻣﻨﺎﺳﺐ ﺳﺎﺧﺘﺎﺭ ﻃﺮﻳﻖ ﺍﺯ ،
ﮐﻨﻨﺪ ﺗﻘﻮﻳﺖ ﻭ ﻣﺴﺘﺤﮑﻢ ،ﺷﻔﺎﻓﻴﺖ ﺳﻄﺢ ﺍﺭﺗﻘﺎﻱ ﻭ.
ﻣﮑﻔﻲ ﻣﻨﺎﺑﻊ ﺍﺯ ﺑﺎﻧﮏ ﮐﻪ ﺷﻮﻧﺪ ﻣﻄﻤﺌﻦ ﺑﺎﻳﺪ ﻧﺎﻇﺮﺍﻥﺳﺮﻣﺎﻳﻪ ﺟﻤﻠﻪ ﺍﺯ ﺷﺪﻩ ﺗﻘﺒﻞ ﺭﻳﺴﮏ ﻗﺒﺎﻝ ﺩﺭ
ﻭ ﺻﺤﻴﺢ ﻣﺪﻳﺮﻳﺖ ،ﮐﺎﻓﻲﺍﺳﺖ ﺑﺮﺧﻮﺭﺩﺍﺭ ﻣﺆﺛﺮ ﮐﻨﺘﺮﻝ ﺳﻴﺴﺘﻢ.ﺧﻮﺩ ﻧﻈﺎﺭﺕ ﭼﻨﺪ ﻫﺮﺑﻪﺧﻮﺩ
ﻧﻤﻲﺩﺳﺖ ﺍﻳﻦ ﺍﺯ ﺣﻮﺍﺩﺛﻲ ﻭﻗﻮﻉ ﻭ ﺑﺎﺷﺪ ﺑﺎﻧﮏ ﻭﺭﺷﮑﺴﺘﮕﻲ ﻳﺎ ﺗﻮﻗﻒ ﻋﺪﻡ ﺑﺮﺍﻱ ﺗﻀﻤﻴﻨﻲ ﺗﻮﺍﻧﺪ
ﺭﻳﺴﮏ ﺍﺯ ﺟﺰﺋﻲﻧﮑﺘﻪ ﺍﻣﺎ ﺍﺳﺖ ﭘﺬﻳﺮﻱﺑﺎ ﺑﺮﺧﻮﺭﺩ ﻭ ﻣﻘﺎﺑﻠﻪ ﭼﮕﻮﻧﮕﻲ ،ﻣﻬﻢﺗﻮﻗﻒ ﻭ ﻭﺭﺷﮑﺴﺘﮕﻲ
ﺍﺳﺖ.ﺑﻴﻦ ﺻﻨﺪﻭﻕ ،ﺟﻬﺎﻧﻲ ﺑﺎﻧﮏ ،ﻣﺘﺤﺪ ﻣﻠﻞ ﺳﺎﺯﻣﺎﻥﺟﻤﻠﻪ ﺍﺯ ﺟﻬﺎﻧﻲ ﺗﺠﺎﺭﺕ ﺳﺎﺯﻣﺎﻥ ﻭ ﭘﻮﻝ ﺍﻟﻤﻠﻠﻲ
ﺑﻴﻦ ﺳﻄﺢ ﺩﺭ ﺳﻴﺎﺳﻲ ﺑﺎﺯﻳﮕﺮﺍﻥ ﻣﻬﻤﺘﺮﻳﻦﻫﺴﺘﻨﺪ ﺍﻟﻤﻠﻞ.ﻋﺮﺻﻪ ،ﻋﺒﺎﺭﺗﻲ ﺑﻪﺗﺼﻤﻴﻢ ﻫﺎﻱ،ﺳﻴﺎﺳﻲ ﮔﻴﺮﻱ
ﺩﻭﻟﺖ ﺍﺯ ﻓﺮﺍﺗﺮ ﻏﻴﺮﻩ ﻭ ﻣﺎﻟﻲﺍﺳﺖ ﻣﻠﻲ ﻫﺎﻱ.
ﺣﮑﻮﻣﺖﻧﻤﻲ ﺩﻳﮕﺮ ﻣﻠﻲ ﻫﺎﻱﺗﻮﺍﻧﺳﻴﺎﺳﺖ ﻭﺿﻊ ﺑﻪ ﮔﺬﺷﺘﻪ ﻣﺜﻞ ﻨﺪﺑﺎ ،ﺑﭙﺮﺩﺍﺯﻧﺪ ﻣﺎﻟﻲ ﻭ ﺍﻗﺘﺼﺎﺩﻱ ﻫﺎﻱ
ﮔﺴﺘﺮﺵﻓﺮﺍﻳﻨﺪﺩﻭﻟﺖ ،ﺷﺪﻥ ﺟﻬﺎﻧﻲﺩﺳﺖ ﺍﺯ ﺭﺍ ﺧﻮﺩ ﺣﺎﮐﻤﻴﺖ ﻭ ﺗﻮﺍﻧﺎﻳﻲ ﺍﺯ ﺍﺑﻌﺎﺩﻱ ﻣﻠﻲ ﻫﺎﻱ
ﻩﻓﺰﺍﻳﻨﺪ ﻧﺤﻮ ﺑﻪ ﻭ ﺩﺍﺩ ﺧﻮﺍﻫﻨﺪﺳﺎﺯﻣﺎﻥ ،ﺟﻬﺎﻧﻲ ﻫﺎﻱﺑﺎﺯﺍﺭ ﺑﺎ ﺍﻱﺳﺎﺯﻣﺎﻥ ﻭ ﺟﻬﺎﻧﻲ ﺗﺠﺎﺭﻱ ﻫﺎﻱﻫﺎﻱ
ﺷﺪ ﺧﻮﺍﻫﻨﺪ ﺭﻭﺑﺮﻭ ﻫﺎﻱﻣﻨﻄﻖ.
ﺩﻧﻤﻲ ﺣﺮﮐﺖ ﻫﺎﮐﺸﻮﺭ ﺍﻗﺘﺼﺎﺩ ﺑﻴﻦ ﺭﺍﺣﺘﻲ ﺑﻪ ﺳﺮﻣﺎﻳﻪ ﭼﻮﻥ ﮔﺬﺷﺘﻪ ﺭﺩﺭﮔﻴﺮ ﹰﺎﻋﻤﺪﺗ ﻫﺎﮐﺸﻮﺭ ﻟﺬﺍ ﮐﺮﺩ
ﺑﻴﻦ ﺍﺑﻌﺎﺩ ﺑﻪ ﻭ ﺑﻮﺩﻧﺪ ﺧﻮﺩ ﺩﺍﺧﻠﻲ ﻣﺴﺎﺋﻞﺍﻟﻤﻠﻠﻲﻓﻌﺎﻟﻴﺖﻧﺪﺍﺷﺘﻨﺪ ﺗﻮﺟﻪ ﻣﺎﻟﻲ ﻫﺎﻱ.ﺗﻐﻴﻴﺮﺍﺕ ﭘﺮﺗﻮ ﺩﺭ
ﺭﻭﺵ ﮐﻪ ﺷﺪ ﺁﺷﮑﺎﺭ ﺣﻘﻴﻘﺖ ﺍﻳﻦ ،ﻣﺎﻟﻲ ﻫﺎﻱﺑﺎﺯﺍﺭ ﺩﺭ ﺣﺎﺻﻠﻪﺩﻳﮕﺮ ﻧﻈﺎﺭﺕ ﺳﻨﺘﻲ ﻭ ﻣﻌﻤﻮﻝ ﻫﺎﻱ
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١-Corporate Governance
3. ﻧﺑﺎﻧﮑﯽ ﺳﯿﺴﺘﻢ در ﻈﺎرت89
ﺑﻮﺩ ﻧﺨﻮﺍﻫﺪ ﭘﺎﺳﺨﮕﻮ.ﭼﻨﺪﮔﺎﻧﻪ ﻫﺎﻱﺭﻭﻳﮑﺮﺩ ،ﻣﺎﻟﻲ ﺍﻧﺘﻈﺎﻡ ﻭ ﻧﻈﻢ ﺑﺮﺍﻱ ﺩﻟﻴﻞ ﻫﻤﻴﻦ ﺑﻪﺗﻮﺟﻪ ﻣﻮﺭﺩ ﺍﻱ
ﺷﺪ ﻭﺍﻗﻊ.ﺩﺳﺘ ،ﺩﻭﻡ ﺟﻬﺎﻧﻲ ﺟﻨﮓ ﺍﺯ ﺑﻌﺪ ﮐﻪ ﺍﺳﺖ ﺑﺎﻝ ﻧﻈﺎﺭﺗﻲ ﺍﺻﻮﻝ ،ﺭﻭﻳﮑﺮﺩﻫﺎ ﺍﻳﻦ ﺍﺯ ﻳﮑﻲﺎﻭﺭﺩ
ﻳﮑﺴﺎﻥ ﺑﺮﺍﻱ ﺑﺰﺭﮔﻲﻧﻈﺎﻡ ﻓﻌﺎﻟﻴﺖ ﻭ ﻫﺎﺍﺳﺘﺎﻧﺪﺍﺭﺩ ﺳﺎﺯﻱﺑﺮﺩﺍﺷﺖ ﺩﺭ ﺑﺎﻧﮑﻲ.
ﻧﻈﺎﺭﺕ ﻣﺤﻮﺭﻱ ﺍﺻﻮﻝﺑﺎﻝ ﺑﺎﻧﮑﺪﺍﺭﻱ ﺑﺮ،ﺷﺎﻣﻞ۲۵ﺍﺳﺖ ﻣﺆﺛﺮ ﻧﻈﺎﺭﺕ ﺑﺮﺍﻱ ﺍﺻﻞﻛﻪﺻﺮﻑ ﺗﺮﺟﻤﻪ
ﻭ ﻗﺎﻧﻮﻧﻲ ﺍﺻﻼﺣﺎﺕ ﻭ ﻗﻮﺍﻧﻴﻦ ﺑﺎ ﺁﻥ ﺗﻄﺒﻴﻘﻲ ﻣﻘﺎﻳﺴﻪ ﻭ ﻭﺍﻗﻌﻲ ﻣﻔﺎﻫﻴﻢ ﺑﻪ ﺗﻮﺟﻪ ﺑﺪﻭﻥ ﺍﺻﻮﻝ ﺍﻳﻦ
ﺑﻮﺩ ﻧﺨﻮﺍﻫﺪ ﻣﻔﻴﺪ ﮐﺸﻮﺭ ﻣﻘﺮﺭﺍﺗﻲ)،ﺟﺰﺍﻳﺮﻱ۱۳۸۵.(
۲-ﺑﺎﻧﮏ ﺑﺮ ﻧﻈﺎﺭﺕﻫﺎ،ﺍﻫﻤﻴﺖﺁﻥ ﺍﻫﺪﺍﻑ ﻭ
ﻣﻲ ﻧﻈﺎﺭﺕ ﻣﻔﻬﻮﻡ ﺩﺭﺑﻴﺎﻥ ﺗﻮﺍﻥﺳﺎﺩﮔﻲ ﺑﻪ ﺯﻣﻴﻨﻪ ﺍﻳﻦ ﺩﺭ ﻣﺸﺨﺺ ﺗﻌﺮﻳﻒ ﻳﮏ ﺍﺭﺍﺋﻪ ﮐﻪ ﺩﺍﺷﺖ
ﺍﻣﮑﺎﻥﻧﻤﻲ ﭘﺬﻳﺮﺯﻣﻴﻨﻪ ﺑﺮﮔﻴﺮﻧﺪﻩ ﺩﺭ ﺑﺎﻧﮑﻲ ﻧﻈﺎﺭﺕ ﺯﻳﺮﺍ ،ﺑﺎﺷﺪﻓﻌﺎﻟﻴﺖ ﺍﺯ ﻣﺨﺘﻠﻔﻲ ﻫﺎﻱﻫﺎﻱﭘﻴﭽﻴﺪﻩ
ﺑﺎﻧﮏﻣﻲ ﺍﻣﺮﻭﺯ ﺟﻬﺎﻥ ﺩﺭ ﻫﺎﺑﺎﺷﺪ.ﻣﺘﻌﺪﺩ ﺑﺴﻴﺎﺭ ﺑﺤﺚ ﻣﻮﺭﺩ ﺯﻣﻴﻨﻪ ﺩﺭ ﻣﻮﺟﻮﺩ ﺗﻌﺎﺭﻳﻒﺍﺳﺖﻭﻟﻲﺑﻪ
ﺟﺮﺃﺕﻣﻲﻧﻤﻮﺩ ﺍﺑﺮﺍﺯ ﺗﻮﺍﻥﻛﻪﺣﻔﻆﻣﺎﻟﻲ ﻣﺆﺳﺴﺎﺕ ﺳﻼﻣﺖ ﻭ ﺛﺒﺎﺕ،ﺣﻔﻆ ﻭ ﻣﻘﺮﺭﺍﺕ ﺍﺯ ﺗﺒﻌﻴﺖ
ﺳﭙﺮﺩﻩ ﻣﻨﺎﻓﻊﮔﺬﺍﺭﺍﻥ،ﻣﻲ ﻣﻮﺟﻮﺩ ﺗﻌﺎﺭﻳﻒ ﻣﺸﺘﺮﮎ ﻧﮑﺎﺕﺑﺎﺷﻨﺪ.ﻣﺆﺳﺴﺎﺕ ﺑﺎﻓﺖ ﺑﻮﺩﻥ ﭘﻴﭽﻴﺪﻩ ﺑﻪ ﻧﻈﺮ
ﺍﻭﻗﺎﺕ ﺍﻏﻠﺐ ،ﺍﺑﺪﺍﻋﺎﺕ ﻭ ﺑﻨﻴﺎﻧﻲ ﺗﻐﻴﻴﺮﺍﺕ ﺑﺎ ﻗﺎﻧﻮﻧﻲ ﭼﺎﺭﭼﻮﺑﻲ ﺗﻄﺒﻴﻖ ﺑﻪ ﻫﻤﻴﺸﮕﻲ ﻧﻴﺎﺯ ﻭ ﻣﺪﺭﻥ ﻣﺎﻟﻲ
ﻗﺎﻧﻮﻥﺯﻣﻴﻨﻪ ﺩﺭ ﻣﺤﺪﻭﺩﻱ ﻗﺪﺭﺕ ،ﮔﺬﺍﺭﺍﻥﻓﻌﺎﻟﻴﺖ ﺗﻨﻈﻴﻢ ﻭ ﻧﻈﺎﺭﺕ ﻣﺴﺌﻮﻟﻴﻦ ﺑﻪ ﻣﻘﺮﺭﺍﺕ ﺗﺪﻭﻳﻦﻫﺎﻱ
ﻣﻲ ﺍﻋﻄﺎ ﻣﺎﻟﻲ ﻣﺆﺳﺴﺎﺕﻧﻤﺎﻳﻨﺪ.
ﺍﻫﻤﺑﺎﻧﮏ ﮐﻪ ﺁﻧﺠﺎﺳﺖ ﺍﺯ ﺑﺤﺚ ﻣﻮﺭﺩ ﺯﻣﻴﻨﻪ ﺩﺭ ﻧﻈﺎﺭﺕ ﻴﺖﻣﻴﺎﻥ ﻭﺍﺳﻂ ﻣﺎﻟﻲ ﻣﺆﺳﺴﺎﺕ ﻭ ﻫﺎ
ﭘﺲﻣﺼﺮﻑ ﻭ ﺍﻧﺪﺍﺯﮐﻨﻨﺪﮔﺎﻥﭘﺲ ﻣﻨﺎﺑﻊ ﮐﻠﻲ ﺑﻄﻮﺭ ﻳﺎ ﻣﺎﻟﻲ ﻣﻨﺎﺑﻊ ﻧﻬﺎﻳﻲ ﮐﻨﻨﺪﮔﺎﻥﺟﺎﻣﻌﻪ ﺩﺭ ﺍﻧﺪﺍﺯ
ﻣﻲﺑﺎﺷﻨﺪ.ﻋﺒﺎﺭ ﺑﻪﺑﺎﻧﮏ ﺩﻳﮕﺮ ﺕﺳﭙﺮﺩﻩ ﺍﺻﻠﻲ ﺩﺍﺭﻧﺪﻩ ﺗﻨﻬﺎ ﻧﻪ ﺧﻮﺩ ﺷﻌﺐ ﻃﺮﻳﻖ ﺍﺯ ﻫﺎﻫﺎﻱ
ﺑﺨﺶﺳﺮﻣﺎﻳﻪ ﻭ ﺍﻋﺘﺒﺎﺭ ﺍﻭﻟﻴﻪ ﮐﺎﻧﺎﻝ ﻭ ﺧﺼﻮﺻﻲﮔﺬﺍﺭﻱﺗﻨﻈﻴﻢ ﺑﻠﮑﻪ ،ﻫﺴﺘﻨﺪ ﺍﻗﺘﺼﺎﺩ ﺩﺭ ﻫﺎﻋﻤﺪﻩ ﮐﻨﻨﺪﻩ
ﭘﺮﺩﺍﺧﺖ ﻣﮑﺎﻧﻴﺰﻡﻣﻲ ﻣﺤﺴﻮﺏ ﻧﻴﺰ ﺟﺎﻣﻌﻪ ﻫﺎﻱﺷﻮﻧﺪ.ﻓﻌﺎﻟﻴﺖ ﺍﻳﻦ ﺿﻤﻦ ﺩﺭﭘﻮﻟﻲ ﻣﻨﺎﺑﻊ ﻋﺮﺿﻪ ﺭﻭﻱ ﻫﺎ
ﺗﺄﺛ ﮐﺸﻮﺭ ﺍﻋﺘﺒﺎﺭﻱ ﻭﺑﺎﻧﮏ ﺯﻳﺮﺍ ،ﺩﺍﺭﺩ ﻣﺴﺘﻘﻴﻢ ﻴﺮﻃﺮﻳﻖ ﺍﺯ ﭘﻮﻝ ﺍﻳﺠﺎﺩ ﻗﺪﺭﺕ ﮐﻪ ﻫﺴﺘﻨﺪ ﻣﺆﺳﺴﺎﺗﻲ ﻫﺎ
ﺩﺍﺭﻧﺪ ﺭﺍ ﺗﺴﻬﻴﻼﺕ ﺍﻋﻄﺎﻱ)ﻧﺠﻢ،ﺁﺑﺎﺩﻱ۱۳۷۲.(
ﻧﺎﺭﺳﺎﺋﻲ ﻭ ﻣﺸﮑﻼﺕ ﺯﻳﺎﻧﺒﺎﺭ ﺍﺛﺮﺍﺕ ﺳﺮﺍﻳﺖ ﺍﺯ ﺟﻠﻮﮔﻴﺮﻱﺑﺎﻧﮏ ﻫﺎﻱﺑﺨﺶ ﺑﻪ ﻫﺎﺍﺯ ﺟﺎﻣﻌﻪ ﺩﻳﮕﺮ ﻫﺎﻱ
ﺑﺎﻧﮏ ﺑﺮ ﻧﻈﺎﺭﺕ ﺍﻫﻤﻴﺖ ﮐﻪ ﺍﺳﺖ ﻣﻮﺍﺭﺩﻱ ﺩﻳﮕﺮﺭﻭﺷﻦ ﺭﺍ ﻫﺎﻣﻲ ﺗﺮﺳﺎﺯﺩ.ﺑﻪ ﻧﻴﻞ ﺟﻬﺖ ﺭﺍﺑﻄﻪ ﺍﻳﻦ ﺩﺭ
ﺑﺎﻧﮏ ،ﭘﻮﻟﻲ ﺳﻴﺎﺳﺖ ﺍﻫﺪﺍﻑﺑﺎﺯﺍﺭ ﻋﻤﻠﻴﺎﺕ ﻣﺎﻧﻨﺪ ﺍﻗﺘﺼﺎﺩﻱ ﮐﻼﻥ ﮐﻨﺘﺮﻝ ﻃﺮﻳﻖ ﺍﺯ ﻫﻤﻮﺍﺭﻩ ﻫﺎﺑﺎﺯ،
ﻧﺮﺥﻫﺎﻱﺳﻘ ،ﺑﻬﺮﻩﻒﮐﻨﺘﺮﻝ ،ﺍﻋﺘﺒﺎﺭﻱ ﻫﺎﻱﺗﻨﺰﻳﻞ ﺗﺴﻬﻴﻼﺕ ﻭ ﻣﺴﺘﻘﻴﻢ ﻫﺎﻱﻣﻲ ﮐﻨﺘﺮﻝ ،ﻣﺠﺪﺩﺷﻮﻧﺪ.
4. ﺷﻤﺎره13ﺑﻬﺎر87 90
ﺑﻌﻼﻭﻩ»ﺍﺣﺘﻴﺎﻃﻲ ﻣﻘﺮﺭﺍﺕ«١
ﮐﻨﺘﺮﻝ ﻳﺎﺍﻗﺘﺼ ﺳﻄﺢ ﺩﺭ ﻫﺎﻱﻣﺎﻧﻨﺪ ﺧﺮﺩ ﺎﺩ»ﻧﺴﺒﺖﻫﺎﻱﻧﻘﺪﻳﻨﮕﻲﻭ
ﺟﺎﺭﻱ ﺩﺍﺭﺍﺋﻲ«٢
ﻗﺮﺍﺭ ﺍﺳﺘﻔﺎﺩﻩ ﻣﻮﺭﺩ ﺍﻣﺮ ﺍﻳﻦ ﺩﺭ ﻫﻤﻮﺍﺭﻩﻣﻲﮔﻴﺮﻧﺪ)ﻟﻮﻳﻲ٣
،۱۹۹۱.(،ﻧﻈﺎﺭﺕ ﻟﺬﺍ
ﻧﻈﺮ ﺯﻳﺮ ،ﺍﺳﺖ ﻣﻘﺮﺭﺍﺕ ﺑﺎ ﻣﻄﺎﺑﻖ ﺁﻥ ﻓﻌﺎﻟﻴﺖ ﺍﻳﻨﮑﻪ ﺍﺯ ﺍﻃﻤﻴﻨﺎﻥ ﮐﺴﺐ ﺟﻬﺖ ﺭﺍ ﺑﺎﻧﮏ ﻫﺮ ﻋﻤﻠﮑﺮﺩ
ﻣﻲﮔﻴﺮﺩ.ﺣﻔﻆ ﺑﻪ ﻧﻬﺎﻳﺖ ﺩﺭ ﻭ ﺑﺎﻧﮏ ﻫﺮ ﻣﺎﻟﻲ ﺳﻼﻣﺖ ﺑﻪ ﺍﻣﺮ ﺍﻳﻦﻃﺮﻳﻖ ﺍﺯ ﺳﺎﻟﻢ ﺑﺎﻧﮑﻲ ﺷﺒﮑﻪ ﻳﮏ
ﺳﭙﺮﺩﻩ ﺍﻣﻨﻴﺖ ﺗﺄﻣﻴﻦﺑﺤﺮﺍﻥ ﺍﺯ ﺟﻠﻮﮔﻴﺮﻱ ﻭ ﻫﺎﻣﻨﺠ ﻫﺎﮔﺮﺩﺩﻣﻲ ﺮ.
ﺑﺎﻧﮏ ﺑﺮ ﻧﻈﺎﺭﺕ ﺍﻫﻤﻴﺖ ﮐﻪ ﺩﻳﮕﺮﻱ ﻣﺒﺤﺚﻣﻲ ﻣﻄﺮﺡ ﺣﺎﺿﺮ ﺯﻣﺎﻥ ﺩﺭ ﺭﺍ ﻫﺎﻧﻬﺎﺩﻥ ﮔﺎﻡ ﻧﻤﺎﻳﺪ
ﻧﺮﺥ ﺁﺯﺍﺩﺳﺎﺯﻱ ﻣﺮﺍﺣﻞ ﺑﻪ ﺗﻮﺳﻌﻪ ﺣﺎﻝ ﺩﺭ ﻫﺎﻱﮐﺸﻮﺭﺍﻗﺘﺼﺎﺩﻱ ﺗﻌﺪﻳﻼﺕ ﺳﺎﻳﺮ ﺍﻧﺠﺎﻡ ﻭ ﺑﻬﺮﻩ ﻫﺎﻱ
ﺍﺳﺖ.ﮐ ﺗﺠﺮﺑﻪﺑﻪ ﻭﺭﻭﺩ ﺍﺯ ﻗﺒﻞ ﮐﻪ ﺍﺳﺖ ﺁﻥ ﻧﻤﺎﻳﺎﻧﮕﺮ ﺍﺧﻴﺮ ﺩﻫﻪ ﺩﻭ ﺩﺭ ﻻﺗﻴﻦ ﺁﻣﺮﻳﮑﺎﻱ ﻫﺎﻱﺸﻮﺭ
ﻧﺮﺥ ﺁﺯﺍﺩﺳﺎﺯﻱ ﻣﺮﺣﻠﻪﺍﺯ ﺍﺳﺎﺳﻲ ﻭ ﻣﻬﻢ ﺷﺮﻁ ﺩﻭ ﻭﺟﻮﺩ ،ﺑﺎﻧﮑﻲ ﻫﺎﻱﺟﻤﻠﻪﺍﻗﺘﺼﺎﺩﻱ ﺛﺒﺎﺕ ﻭﺟﻮﺩ
)ﺧﺼﻮﺻﻲ ﺑﺨﺶ ﻓﻌﺎﻟﻴﺖ ﺑﺮﺍﻱ ﻣﻨﺎﺳﺐ ﺍﻗﺘﺼﺎﺩﻱ ﻭﺿﻌﻴﺖ(ﻭﻗﻮﻱ ﻭ ﮐﺎﺭﺁﻣﺪ ﺑﺎﻧﮑﻲ ﻧﻈﺎﺭﺕ ﻭﺟﻮﺩ
ﺍﺯﺿﺮﻭﺭﻳﺎﺕﺑﺎﺷﺪﻣﻲ.ﮐﻠﻲ ﺑﻄﻮﺭﺑﺎﻧﮏ ﺑﺮﺍﻱ ﻣﻘﺮﺭﺍﺕ ﻭﺿﻊﺍﻳﻦ ﺍﺟﺮﺍﻱ ﭼﮕﻮﻧﮕﻲ ﺑﺮ ﻧﻈﺎﺭﺕ ﻭ ﻫﺎ
ﺑﻪ ﺣﺼﻮﻝ ﺑﺮﺍﻱ ﻣﺮﮐﺰﻱ ﺑﺎﻧﮏ ﺗﻮﺳﻂ ﻣﻘﺮﺭﺍﺕﺍﻫﺪﺍﻓﻫﻤﭽﻮﻥ ﻲ:ﻗﺎﺑﻞ ﻣﺎﻟﻲ ﺧﺪﻣﺎﺕ ﮔﺴﺘﺮﺵ
ﺍﻗﺘﺼﺎﺩ ﻫﺎﻱﻧﻴﺎﺯ ﺑﻪ ﭘﺎﺳﺨﮕﻮﻳﻲ ﺟﻬﺖ ﻭﺳﻴﻊ ﻭ ﺍﻃﻤﻴﻨﺎﻥﺣ ؛ﺑﺎﻧﮏ ﺍﻳﻨﮑﻪ ﺍﺯ ﺍﻃﻤﻴﻨﺎﻥ ﺼﻮﻝﺑﺮﺍﺑﺮ ﺩﺭ ﻫﺎ
ﺷﮑﺎﻳ ﻭ ﻧﻴﺎﺯﻫﺎﺎﺍﻃﻤﻴﻨﺎ ﻗﺎﺑﻞ ،ﮐﺎﺭﺁﻣﺪ ،ﻣﺸﺘﺮﻳﺎﻥ ﺕﻫﺴﺘﻨﺪ ﺗﺄﺛﻴﺮﭘﺬﻳﺮ ﻭ ﻥ؛ﺍﻳﻨﮑﻪ ﺍﺯ ﺍﻃﻤﻴﻨﺎﻥ ﮐﺴﺐ
ﻣﻲ ﻫﻤﺎﻫﻨﮓ ﺑﺎﻧﮑﺪﺍﺭﻱ ﻣﻬﻢ ﻫﺎﻱﺍﺳﺘﺎﻧﺪﺍﺭﺩ ﺑﺎ ﺑﺎﻧﮏ ﻓﻌﺎﻟﻴﺖﺑﺎﺷﺪﻭ ؛ﺍﻳﻨﮑﻪ ﺍﺯ ﺍﻃﻤﻴﻨﺎﻥ ﺣﺼﻮﻝ
ﺍﺳﺖ ﺍﻋﺘﺒﺎﺭﻱ ﻭ ﭘﻮﻟﻲ ﻫﺎﻱﺳﻴﺎﺳﺖ ﺑﺎ ﻣﻄﺎﺑﻖ ﻫﺎﺑﺎﻧﮏ ﻋﻤﻠﮑﺮﺩ)ﺷﻨﮓ٤
،۱۹۹۰.(
۳-ﺑﺎﻧﮏ ﺑﺮ ﻧﻈﺎﺭﺕ ﻫﺎﻱﺭﻭﺵﻫﺎ
»ﺍﺣﺘﻴﺎﻃﻲ ﻧﻈﺎﺭﺕ«٥
ﻫﺎﺑﺎﻧﮏ ﺑﺮﺫ ﻃﺮﻕ ﺑﻪﻳﻞﻣﻲ ﺍﻋﻤﺎﻝﺷﻮﺩ:
١-ﻣﺴﺘﻘﻴﻢ ﻧﻈﺎﺭﺕ ﺭﻭﺵ)ﻣﺤﻞ ﺩﺭ ﺑﺎﺯﺭﺳﻲ(٦
٢-ﻏﻴﺮﻣﺴﺘﻘﻴﻢ ﻧﻈﺎﺭﺕ ﺭﻭﺵ)ﻣﺤﻞ ﺍﺯ ﺧﺎﺭﺝ ﺑﺎﺯﺭﺳﻲ(١
__________________________________________________________
١- Prudential Regulation
٢- Cash and Liquid Asset Ratios
٣- Looi
٤- Sheng
٥- Prudential Supervision
٦- On-Site Inspection
5. ﻧﺑﺎﻧﮑﯽ ﺳﯿﺴﺘﻢ در ﻈﺎرت91
٣-ﻧﻈﺎﺭﺕ ﻫﺎﻱﺭﻭﺵ ﺳﺎﻳﺮ
ﺭﻭﺵ ﺍﻧﺠﺎﻡ ﻫﺎﮐﺸﻮﺭ ﺍﺯ ﺑﺮﺧﻲ ﺩﺭﻫﺎﻱﻓﻮﻕﺑﺎﻧﮏ ﺍﺯ ﺑﺨﺶ ﻳﮏ ﺩﺭ ﺍﻟﺬﮐﺮﺍﺳﺖ ﻣﺘﻤﺮﮐﺰ ﻣﺮﮐﺰﻱ
ﻭ ﻣﺎﻟﺰﻱ ﻣﺮﮐﺰﻱ ﻫﺎﻱﺑﺎﻧﮏ ﻣﺎﻧﻨﺪ ،ﻣﺮﮐﺰﻱ ﻫﺎﻱﺑﺎﻧﮏ ﺍﮐﺜﺮ ﺩﺭ ﻟﻴﮑﻦﮊﺍﭘﻦﺩﻭ ﺩﺭ ﻭﻇﻴﻔﻪ ﺩﻭ ﺍﻳﻦ
ﻣﻲ ﺍﻧﺠﺎﻡ ﻳﮑﺪﻳﮕﺮ ﺍﺯ ﻣﺘﻤﺎﻳﺰ ﺑﺨﺶﮔﻴﺮﺩ.
۱-۳-ﻣﺴ ﻧﻈﺎﺭﺕ ﺭﻭﺵﺘﻘﻴﻢ
ﻣﻲ ﺻﻮﺭﺕ ﺑﺎﺯﺭﺳﻲ ﻫﺎﻱﺗﻴﻢ ﺗﻮﺳﻂ ﹰﻻﻣﻌﻤﻮ ﺭﻭﺵ ﺍﻳﻦﺭﺍ ﺷﻮﻧﺪﻩ ﺑﺎﺯﺭﺳﻲ ﺑﺎﻧﮏ ﻧﺰﺩﻳﮏ ﺍﺯ ﮐﻪ ﭘﺬﻳﺮﺩ
ﻣﻲ ﻗﺮﺍﺭ ﺑﺮﺭﺳﻲ ﺗﺤﺖ ﻫﺎﺁﻥ ﮐﺎﺭﮐﻨﺎﻥ ﺑﺎ ﻣﺼﺎﺣﺒﻪ ﻳﺎ ،ﺩﻓﺎﺗﺮ ﺍﺯ ﻭﺍﺻﻠﻪ ﺍﻃﻼﻋﺎﺕ ﺍﺭﺯﻳﺎﺑﻲ ﺟﻬﺖﺩﻫﻨﺪ.
ﺑﺎ ﺗﻌﺪﺍﺩﻣﻲ ﺑﺎﺯﺭﺳﻲ ﻣﺪﺕ ﻃﻮﻝ ﻳﺎ ﺯﺭﺳﻴﻦﺑﺎﺯﺭﺳﻲ ﻃﺮﺡ ﻭ ﻣﺆﺳﺴﻪ ﭘﻴﭽﻴﺪﮔﻲ ﻭ ﺍﻧﺪﺍﺯﻩ ﺍﺳﺎﺱ ﺑﺮ ﺗﻮﺍﻧﺪ
ﺟﺎ ﺩﺭ ﻣﺜﺎﻝ ﻋﻨﻮﺍﻥ ﺑﻪ ﺑﺎﺷﺪ ﻣﺘﻔﺎﻭﺕﻳﻲﺍﺳﺖ ﻣﻤﮑﻦ ﺑﺎﺯﺭﺳﻴﻦ ،ﺑﺎﺷﺪ ﻣﺤﺪﻭﺩ ﺑﺎﺯﺭﺳﻲ ﻣﻨﺎﺑﻊ ﮐﻪ
ﻓﻌﺎﻟﻴﺖ ﻳﺎ ﻣﺆﺳﺴﺎﺕﻭ ﺑﺎﻧﮑﻲ ﺷﺒﮑﻪ ﺑﺮﺍﻱ ﺭﺍ ﺭﻳﺴﮏ ﺑﻴﺸﺘﺮﻳﻦ ﮐﻪ ﺩﻫﻨﺪ ﻗﺮﺍﺭ ﺑﺎﺯﺭﺳﻲ ﻣﻮﺭﺩ ﺭﺍ ﻫﺎﻳﻲ
ﺑﺎﺯﺭﺳﻲ ﺗﺤﺖ ﺑﺎﻧﮏﺩﺍﺭﺩ ﻫﻤﺮﺍﻩ ﺑﻪ.ﻣﺘﻔﺎﻭﺕ ﺩﻳﮕﺮ ﮐﺸﻮﺭ ﺑﻪ ﮐﺸﻮﺭﻱ ﺍﺯ ﻣﺴﺘﻘﻴﻢ ﻧﻈﺎﺭﺕ ﺍﻫﺪﺍﻑ
ﺍﺳﺖ.ﻣﻲ ﻧﻈﺮ ﺩﺭ ﺭﺍ ﻣﻘﺮﺭﺍﺕ ﺍﺯ ﮔﺮﻭﻩ ﺁﻥ ﺍﺟﺮﺍﻱ ﹰﺎﺻﺮﻓ ﻣﺴﺘﻘﻴﻢ ﻧﻈﺎﺭﺕ ﻫﺎﮐﺸﻮﺭ ﺍﺯ ﺑﺮﺧﻲ ﺩﺭﮔﻴﺮﺩ
ﭼﺸﻢ ﺛﺒﺎﺕ ﻭ ﺍﻣﻨﻴﺖ ﺍﺯ ﻫﺎﺁﻥ ﺩﺭ ﮐﻪﻓﺮﻋﻲ ﻣﺮﺍﺣﻞ ﺩﺭ ﻳﺎ ﺷﺪﻩ ﭘﻮﺷﻲﮔﺮﻓﺘﻪ ﻗﺮﺍﺭ ﺗﺮﻱﺍﻧﺪ.ﺍﺯ ﻧﻤﻮﻧﻪ ﺍﻳﻦ
ﺑﺎﻧﮑ ﻧﻈﺎﺭﺕ ﻋﻤﻠﻴﺎﺕﻣﻲ ﭼﺸﻢ ﺑﻪ ﺳﺎﺑﻖ ﺳﻮﺳﻴﺎﻟﻴﺴﺘﻲ ﻫﺎﻱﮐﺸﻮﺭ ﺍﮐﺜﺮ ﺩﺭ ﻲﻭﻫﻠﻪ ﺩﺭ ﻫﺎﺑﺎﻧﮏ ﻭ ﺧﻮﺭﺩ
ﻣﻄﺮﺡ ﺗﻮﻟﻴﺪﻱ ﻫﺎﻱﺑﺨﺶ ﻭ ﮐﻠﻴﺪﻱ ﻫﺎﻱﻃﺮﺡ ﺑﻪ ﺍﻋﺘﺒﺎﺭ ﺗﺨﺼﻴﺺ ﺟﻬﺖ ﮐﺎﻧﺎﻟﻲ ﺑﺼﻮﺭﺕ ﺍﻭﻝ
ﻣﻲﺑﺎﺷﻨﺪ.
ﺗﻌﻴﻴﻦ ﭘﻴﺶ ﺍﺯ ﺑﺮﻧﺎﻣﻪ ﺑﺼﻮﺭﺕ ﻣﺴﺘﻘﻴﻢ ﻧﻈﺎﺭﺕ ﺍﻋﻤﺎﻝ ﺷﻴﻮﻩ ﻫﺎﮐﺸﻮﺭ ﺍﮐﺜﺮ ﺩﺭﻣﻲ ﺻﻮﺭﺕ ﺷﺪﻩﻭ ﭘﺬﻳﺮﺩ
ﺍﻋﻤﺎﻝ ،ﺁﻥ ﺍﺯ ﮔﺬﺷﺘﻪﺭﺍﻳﺞ ﻧﻴﺰ ﻣﻮﺭﺩﻱ ﺑﺼﻮﺭﺕ ﺷﻌﺐ ﺍﻧﺘﺨﺎﺏ ﻭ ﺍﺗﻔﺎﻗﻲ ﺑﺼﻮﺭﺕ ﻣﺴﺘﻘﻴﻢ ﻧﻈﺎﺭﺕ
ﻣﻲﺑﺎﺷﺪ.ﺩﺭ ﻣﺴﺘﻘﻴﻢ ﻫﺎﻱﻧﻈﺎﺭﺕ ﺍﻏﻠﺐﻣﺮﺍﺣﻠ ﺑﺮﮔﻴﺮﻧﺪﻩﻗﺒﻴﻞ ﺍﺯ ﻲ:ﺍﮐﻤﮏ ﺑﻪ ﺑﺎﻧﮏ ﻣﺪﻳﺮﻳﺖ ﺭﺯﻳﺎﺑﻲ
ﺍﻃﻼﻋﺎﺕ ﺩﺭﻳﺎﻓﺖ،ﺁﻥ ﺑﻪ ﻣﺮﺑﻮﻁﺍﻳﻔﺎ ﻭ ﺩﻳﻮﻥ ﭘﺮﺩﺍﺧﺖ ﺩﺭ ﺑﺎﻧﮏ ﻣﺎﻟﻲ ﻭﺿﻌﻴﺖ ﺑﺮﺭﺳﻲﻱﺗﻌﻬﺪﺍ،ﺕ
ﻋﻤﻠﻴﺎﺕ ﮐﻴﻔﻴﺖ ﺑﺮﺭﺳﻲﺑ ،ﺑﺎﻧﻜﻲﺑﺮﺭﺳﻲ ﻭ ﻫﺎﺭﻳﺴﮏ ﺍﻧﻮﺍﻉ ﺑﺎ ﺭﻭﻳﺎﺭﻭﻳﻲ ﺩﺭ ﺑﺎﻧﮏ ﻋﻤﻠﮑﺮﺩ ﺮﺭﺳﻲ
ﺑﺎﺷﺪﻣﻲ ﻫﺎﺩﺍﺭﺍﺋﻲ ﮐﻴﻔﻴﺖ)ﮊﺍﭘﻦ ﺑﺎﻧﻚ٢
،۱۹۹۲.(
ـــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــ
١- Off-Site Monitoring
- Bank of Japan٢
6. ﺷﻤﺎره13ﺑﻬﺎر87 92
۱-۳-ﺭﻭﺵﻧﻈﺎﺭﺕﻏﻴﺮﻣﺴﺘﻘﻴﻢ
ﺩﺍﺩﻩ ﻣﻨﻈﻢ ﺩﺭﻳﺎﻓﺖ ﺍﺯ ﻣﺘﻔﺎﻭﺗﻲ ﺩﺭﺟﺎﺕ ﺑﺮ ﻣﺘﮑﻲ ﻧﻈﺎﺭﺗﻲ ﻫﺎﻱﺳﻴﺴﺘﻢ ﻫﻤﻪﺑﺮﺍﻱ ﺍﻃﻼﻋﺎﺗﻲ ﻫﺎﻱ
ﻫﺴﺘﻨﺪ ﺑﺎﺯﺭﺳﻲ ﺗﺤﺖ ﻣﺆﺳﺴﺎﺕ ﻣﺎﻟﻲ ﻋﻤﻠﮑﺮﺩ ﺑﺮ ﻧﻈﺎﺭﺕ.ﺍ ﻧﻮﻉﻭ ﺗﻌﺪﺍﺩ ﺑﻪ ﺑﺴﺘﻪ ﺍﻃﻼﻋﺎﺕ ﻳﻦ
ﺍﺳﺖ ﻣﺘﻐﻴﺮ ﻫﺎﺁﻥ ﭘﻮﺷﺶ ﺗﺤﺖ ﻫﺎﻱﻓﻌﺎﻟﻴﺖ ﺑﺎ ﺍﺭﺗﺒﺎﻁ ﺩﺭ ﺑﺎﻷﺧﺺ ﻭ ﻣﺬﮐﻮﺭ ﻣﺆﺳﺴﺎﺕ ﻣﺸﺨﺼﺎﺕ.
ﺩﺭ ﺭﺍ ﻋﻤﻠﻴﺎﺕ ﺍﺯ ﻭﺳﻴﻌﻲ ﻣﺤﺪﻭﺩﻩ ،ﺭﻭﺵ ﺍﻳﻦ ﺍﺯ ﺍﺳﺘﻔﺎﺩﻩﻣﻲ ﺑﺮﮔﻴﺮﺩ:ﻣﻮﺭﺩ ﺳﻴﺴﺘﻢ ﺍﺯ ﻫﺎﮐﺸﻮﺭ ﺍﮐﺜﺮ
ﻫﺎﻱﺩﻭﺭ ﮔﺰﺍﺭﺷﺎﺕ ﺍﺭﺍﺋﻪ ﺍﺳﺎﺱ ﺑﺮ ﺑﺤﺚ)ﻭ ﻣﺎﻫﺎﻧﻪ ،ﻫﻔﺘﮕﻲ(...ﮔﺰﺍﺭ ﻭﺳﺎﻻﻧﻪ ﻫﺎﻱﺵ)ﺗﺮﺍﺯﻧﺎﻣﻪ ﻣﺎﻧﻨﺪ
ﺯﻳﺎﻥ ﻭ ﺳﻮﺩ ﺻﻮﺭﺗﺤﺴﺎﺏ ﻭ(ﻣﻲ ﺍﺳﺘﻔﺎﺩﻩﮐﻨﻨﺪ.
ﻭ ﺗﺤﻠﻴﻞ ﻭ ﺗﺠﺰﻳﻪ ﺭﺍ ﻣﺬﮐﻮﺭ ﺁﻣﺎﺭ ﻭ ﺍﻃﻼﻋﺎﺕ ،ﻣﺮﮐﺰﻱ ﺑﺎﻧﮏ ﻧﺎﻇﺮﻳﻦ ،ﻧﻈﺎﺭﺕ ﺍﺯ ﺭﻭﺵ ﺍﻳﻦ ﺩﺭ
ﺗﺼﻤﻴﻢ ﺑﺮﺍﻱ ﺭﺍ ﻻﺯﻡ ﮔﺰﺍﺭﺷﺎﺕ ﻭ ﻧﻤﻮﺩﻩ ﺍﺭﺯﻳﺎﺑﻲﺑﺎﻧﮏ ﻫﺎﻱﮔﻴﺮﻱﻣﻲ ﺗﻬﻴﻪ ﻣﺮﮐﺰﻱﻧﻤﺎﻳﻨﺪ.ﺍﮐﺜﺮ ﺩﺭ
ﻣﮑ ﺩﻟﻴﻞ ﺑﻪ ﻫﺎﮐﺸﻮﺭ،ﺁﻧﻬﺎ ﺗﻮﺳﻂ ﻫﺎﺁﻣﺎﺭ ﻣﺮﺗﺐ ﻭ ﻣﻮﻗﻊ ﺑﻪ ﺍﺭﺳﺎﻝ ﻭ ﻫﺎﺑﺎﻧﮏ ﻋﻤﻠﻴﺎﺕ ﺑﻮﺩﻥ ﺎﻧﻴﺰﻩ
ﺗﺼﻤﻴﻢ ﻧﻬﺎﻳﺖ ﺩﺭ ﻭ ﻧﺘﺎﻳﺞ ﺍﻧﻌﮑﺎﺱ ﻭ ﻫﺎﺗﺤﻠﻴﻞ ﻭ ﺗﺠﺰﻳﻪﮔﻴﺮﻱﻣﻲ ﺍﻧﺠﺎﻡ ﺳﺮﻋﺖ ﺑﻪ ﻫﺎﭘﺬﻳﺮﺩ.ﺍﻳﻦ ﺍﺯ
ﺭﻭ ﹰﺎﻣﺮﺗﺒ ﻧﻈﺎﺭﺕ ﺍﺯ ﺭﻭﺵ ﺍﻳﻦ ﮐﺎﺭﺑﺮﺩ ﺭﻭﺭﻭﺯ ﻫﺎﮐﺸﻮﺭ ﻫﻤﻪ ﺩﺭ ﻭ ﺑﻮﺩﻩ ﺍﻓﺰﺍﻳﺶ ﺑﻪﺑﻪﺑﻴﺸﺘﺮ ﺭﻭﺯ
ﻣﻲﺷﻮﺩ.
ﺍﻏﻴﺮﻣﺴﺘﻘﻴﻢ ﻧﻈﺎﺭﺕ ﺭﻭﺵ ﺍﺻﻠﻲ ﻫﺪﺍﻑﺍﻃﻼﻋﺎﺕ ﺁﺷﮑﺎﺭﺳﺎﺯﻱ،ﻫﺎﻱﻓﻌﺎﻟﻴﺖ ﻧﻤﻮﺩﻥ ﻣﺤﺪﻭﺩ
ﺗﺠﺎﺭﻱ،ﻋﻤﻠﻴﺎﺕ ﺩﺭ ﺗﻐﻴﻴﺮ ﺑﺮ ﮐﻨﺘﺮﻝ،ﻧﻴﺎﺯ ﻣﻮﺭﺩ ﻧﻘﺪﻳﻨﮕﻲ ﺭﻳﺴﮏ ﮐﻨﺘﺮﻝ،ﮐﻴﻔﻴﺖ ﺑﺮ ﻧﻈﺎﺭﺕ
ﺩﺍﺭﺍﺋﻲﻫﺎ١
،ﺳﺮﻣﺎﻳﻪ ﮐﻔﺎﻳﺖ ﺑﺮ ﻧﻈﺎﺭﺕ،ﺍﺷﺘﺮﺍﮎ ﻭ ﻫﻤﺎﻫﻨﮕﻲﺑﺎﺷﺪﻣﻲ)ﺷﻨﮓ٢
،۱۹۹۰(.
۳-۳-ﻧﻈﺎﺭﺕ ﻫﺎﻱﺭﻭﺵ ﺳﺎﻳﺮ
ﺑﺮ ﻋﻼﻭﻩﺷﻴﻮﻩﺩﺭ ﻟﻴﮑﻦ ،ﻧﻴﺴﺖ ﻓﺮﺍﮔﻴﺮ ﭼﻨﺪﺍﻥ ﮐﻪ ﺩﺍﺭﺩ ﻭﺟﻮﺩ ﻧﻴﺰ ﺩﻳﮕﺮﻱ ﻫﺎﻱﺭﻭﺵ ،ﺷﺪﻩ ﺫﮐﺮ ﻫﺎﻱ
ﺍﺳﺖ ﮔﺮﺩﻳﺪﻩ ﺣﺎﺻﻞ ﻧﻴﺰ ﻣﻔﻴﺪﻱ ﻧﺘﺎﻳﺞ ﻭ ﺩﺍﺷﺘﻪ ﮐﺎﺭﺑﺮﺩ ﻣﻮﺍﺭﺩ ﺑﺴﻴﺎﺭﻱ.ﻭ ﻣﺸﻮﺭﺕ ﻳﺎ ﺍﺧﻼﻗﻲ ﺗﺮﻏﻴﺐ
ﺍﺳﺘﻔﺎﺩﻩ ﺁﻥ ﺍﺯ ﻣﺮﮐﺰﻱ ﻫﺎﻱﺑﺎﻧﮏ ﺍﺯ ﺑﺴﻴﺎﺭﻱ ﮐﻪ ﺑﺎﺷﺪﻣﻲ ﺟﻤﻠﻪ ﺍﻳﻦ ﺍﺯ ﻫﺎﺑﺎﻧﮏ ﻣﺪﻳﺮﺍﻥ ﺭﺍﻫﻨﻤﺎﻳﻲ
ﮐﻨﻨﺪﻣﻲ.
۴-ﺑﺎﻧﮑﻲ ﺳﻴﺴﺘﻢ ﺩﺭ ﻧﻈﺎﺭﺕ ﻧﻘﺶ
ﮐﻨﺪﻣﻲ ﭘﻴﺪﺍ ﻣﻔﻬﻮﻡ ﻭ ﻣﻌﻨﻲ ،ﻣﻘﺮﺭﺍﺕ ﻭﺿﻊ ﺍﺯ ﭘﺲ ﻧﻈﺎﺭﺕ ﹰﻻﻣﻌﻤﻮ.ﺍﺭﺯﻳﺎﺑﻲ ﺩﺭ ﺷﺮﻭﻉ ﻧﻘﻄﻪ ﻟﺬﺍﻭ
__________________________________________________________
١- Asset Quality
٢- Sheng
7. ﻧﺑﺎﻧﮑﯽ ﺳﯿﺴﺘﻢ در ﻈﺎرت93
،ﻧﻈﺎﺭﺕﻳﺎﺑﺘﻮﺍﻧﺪ ﮐﻪ ﺍﺳﺖ ﻣﻌﻴﺎﺭﻫﺎﻳﻲ ﻓﺘﻦ»ﻛﺎﺭﺁﻣﺪﻱ«١
ﻭ»ﮐﺎﺭﺍﻳﻲ«٢
ﺭﺍ ﺷﺪﻩ ﻭﺿﻊ ﻣﻘﺮﺭﺍﺕ
ﻧﻤﺎﻳﺪ ﮔﻴﺮﻱﺍﻧﺪﺍﺯﻩ.ﺍﻧﺪﺍﺯﻩ ﺩﺭ ﻟﻴﮑﻦﻭﺟ ﻋﻤﻠﻲ ﻣﺸﮑﻼﺕ ﻓﻮﻕ ﻣﻮﺍﺭﺩ ﮔﻴﺮﻱﺩﺍﺭﺩ ﻮﺩ.ﺳﻮﺩﻣﻨﺪﻱ
ﺑﻪ ﺗﻮﺍﻧﺪﻣﻲ ﮐﺎﺭﺍﻳﻲ ﻭ ﺷﻮﺩ ﺗﻌﺮﻳﻒ ﻧﻈﺮ ﻣﻮﺭﺩ ﺍﻫﺪﺍﻑ ﺗﺤﻘﻖ ﺩﺭ ﻣﻘﺮﺭﺍﺕ ﺗﻮﺍﻧﺎﻳﻲ ﻋﻨﻮﺍﻥ ﺑﻪ ﺗﻮﺍﻧﺪﻣﻲ
ﺑﺎﺷﺪ ﺭﺍﻩ ﺗﺮﻳﻦﻣﻤﮑﻦ ﺍﺯ ﺍﺳﺘﻔﺎﺩﻩ ﺑﺎ ﺍﻫﺪﺍﻑ ﺑﻪ ﺭﺳﻴﺪﻥ ﻣﻌﻨﻲ.
ﺍﻭﻗﺎﺕ ﺍﻏﻠﺐ ﻧﻈﺮ ﻣﻮﺭﺩ ﺍﻫﺪﺍﻑ ﹰﻻﺍﻭ ﮐﻪ ﺍﺳﺖ ﺍﻳﻦ ﺩﺍﺭﺩ ﻭﺟﻮﺩ ﮔﻴﺮﻱﺍﻧﺪﺍﺯﻩ ﺩﺭ ﮐﻪ ﻣﺸﮑﻠﻲ
ﮐ ﹰﺎﻣﺎﻫﻴﺘ ﻳﺎ ﻧﺎﻣﺤﺴﻮﺱﻫﺴﺘﻨﺪ ﻴﻔﻲ؛ﻫﺎﺑﺎﻧﮏ ﺑﻪ ﻋﻤﻮﻣﻲ ﺍﻋﺘﻤﺎﺩ ﺣﻔﻆ ﻣﺜﺎﻝ ﺑﺮﺍﻱﻳﺎ ﻭﮐﺮﺩﻥ ﺟﺪﺍ
ﻫﺴﺘﻨﺪ ﺧﺎﺹ ﻫﺪﻑ ﻳﮏ ﺑﻪ ﺩﺳﺘﻴﺎﺑﻲ ﺑﻪ ﻣﺮﺑﻮﻁ ﹰﻻﺍﺣﺘﻤﺎ ﮐﻪ ﻣﻘﺮﺭﺍﺕ ﻣﺠﻤﻮﻋﻪ ﺍﺯ ﺑﺨﺸﻲ،ﮐﺎﺭﻱ
ﺑﺎﺷﺪﻣﻲ ﻣﺸﮑﻞ.ﭘﻮﺷﺶ ﺭﺍ ﻫﺪﻑ ﭼﻨﺪ ﺑﻪ ﺭﺳﻴﺪﻥ ﺍﺳﺖ ﻣﻤﮑﻦ ﻣﻘﺮﺭﺍﺕ ﻣﺠﻤﻮﻋﻪ ﺍﺯ ﺑﺨﺸﻲ ﻣﻘﺎﺑﻞ ﺩﺭ
ﺩﻫﺪ.ﺗﻨ ﺳﺮﻣﺎﻳﻪ ﻧﻘﺶ ﻣﺜﺎﻝ ﺑﺮﺍﻱﻬﻋﻨﻮ ﺑﻪ ﺎﻧﻴﺴﺖ ﺍﺣﺘﻤﺎﻟﻲ ﺣﻮﺍﺩﺙ ﺑﺮﺍﺑﺮ ﺩﺭ ﻣﺤﺎﻓﻆ ﻳﮏ ﺍﻥ،ﺑﻪ ﺑﻠﮑﻪ
ﺁﻥ ﻧﻤﺎﻳﺎﻧﮕﺮ ﺳﺮﻣﺎﻳﻪ ﮐﻔﺎﻳﺖ ﻧﺴﺒﺖ ﺯﻳﺮﺍ ﺁﻭﺭﺩﻣﻲ ﺑﻮﺟﻮﺩ ﺍﻋﺘﻤﺎﺩ ﹰﻻﻣﻌﻤﻮ ﻭ ﮐﺮﺩﻩ ﮐﻤﮏ ﺑﺎﻧﮏ ﺭﺷﺪ
ﺍﻳﻦ ﺗﺤﺖ ﮔﺬﺍﺭﺍﻥﺳﭙﺮﺩﻩ ﻣﻨﺎﻓﻊ ﻭ ﺩﺍﺭﺩ ﺯﻳﺎﺩﻱ ﻣﻘﺎﻭﻣﺖ ﺍﺣﺘﻤﺎﻟﻲ ﺧﻄﺮﺍﺕ ﻣﻘﺎﺑﻞ ﺩﺭ ﺑﺎﻧﮏ ﮐﻪ ﺍﺳﺖ
ﺷﺪ ﺧﻮﺍﻫﺪ ﺣﻔﻆ ﺑﻴﺸﺘﺮ ﻭﺿﻌﻴﺖ.ﺑﺎ ﻧﻈﺎﺭﺕ ﺍﻣﺮﻭﺯﻩﻗﺮﺍﺭ ﺍﺭﺯﻳﺎﺑﻲ ﻣﻮﺭﺩ ﺑﻌﺪ ﺳﻪ ﺍﺯ ﻧﮑﻲ
ﮔﻴﺮﺩﻣﻲ)ﻟﻮﻳﻲ٣
،۱۹۹۱(:
١.ﺑﺎﻧﮑﻲ ﺷﺒﮑﻪ ﺳﻼﻣﺖ ﺣﻔﻆ ﺩﺭ ﻧﻈﺎﺭﺕ ﻧﻘﺶ
ﺍﻟﻒ(ﺍﻗﺘﺼﺎﺩﻱ ﻭ ﺳﻴﺎﺳﻲ ﻧﻮﺳﺎﻧﺎﺕ ﺑﺮﺍﺑﺮ ﺩﺭ ﺑﺎﻧﮑﻲ ﺷﺒﮑﻪ ﺳﻼﻣﺖ
ﺏ(ﻫﺎﺭﻳﺴﮏ ﺑﺮﺍﺑﺮ ﺩﺭ ﺑﺎﻧﮑﻲ ﺷﺒﮑﻪ ﺳﻼﻣﺖ
٢.ﻫﺎﺑﺎﻧﮏ ﺑﻴﻦ ﺳﺎﻟﻢ ﺭﻗﺎﺑﺖ ﮔﺴﺘﺮﺵ ﺩﺭ ﻧﻈﺎﺭﺕ ﻧﻘﺶ
٣.ﺳﻴﺎﺳ ﺻﺤﻴﺢ ﺍﺟﺮﺍﻱ ﺩﺭ ﻧﻈﺎﺭﺕ ﻧﻘﺶﺍﻋﺘﺒﺎﺭﻱ ﻭ ﭘﻮﻟﻲ ﻫﺎﻱﺖ
۱-۴-ﺑﺎﻧﮑﻲ ﺷﺒﮑﻪ ﺳﻼﻣﺖ ﺣﻔﻆ ﺩﺭ ﻧﻈﺎﺭﺕ ﻧﻘﺶ
۱-۱-۴-ﺍﻗﺘﺼﺎﺩﻱ ﻭ ﺳﻴﺎﺳﻲ ﻧﻮﺳﺎﻧﺎﺕ ﺑﺮﺍﺑﺮ ﺩﺭ ﺑﺎﻧﮑﻲ ﺷﺒﮑﻪ ﺳﻼﻣﺖ
ﺑﺎ ﺭﺍ ﮐﺸﻮﺭ ﺑﺎﻧﮑﻲ ﻧﻈﺎﻡ ﺗﻮﺍﻧﺪﻣﻲ ﺍﻟﻤﻠﻞﺑﻴﻦ ﻭ ﺩﺍﺧﻠﻲ ﺳﻄﺢ ﺩﺭ ﺍﻗﺘﺼﺎﺩﻱ ﻭ ﺳﻴﺎﺳﻲ ﻧﻮﺳﺎﻧﺎﺕ ﻭﻗﻮﻉ
ﻧﻤﺎﻳﺪ ﺭﻭﺑﺮﻭ ﺍﺳﺎﺳﻲ ﻫﺎﻱﺷﻮﮎ.ﺍﮐ ﺩﺭ ﻣﺬﮐﻮﺭ ﻧﻮﺳﺎﻧﺎﺕ ﻭﻗﻮﻉﺑﺮﺍﻱ ﮔﺬﺍﺭﺍﻥﺳﭙﺮﺩﻩ ﻫﺠﻮﻡ ﻣﻮﺍﺭﺩ ﺜﺮ
__________________________________________________________
١- Effectiveness
٢- Efficiency
٣- Looi
8. ﺷﻤﺎره13ﺑﻬﺎر87 94
ﺍﺳﺖ ﺩﺍﺷﺘﻪ ﺩﻧﺒﺎﻝ ﺑﻪ ﺭﺍ ﻫﺎﺑﺎﻧﮏ ﺍﺯ ﻫﺎﺳﭙﺮﺩﻩ ﻧﺎﮔﻬﺎﻧﻲ ﻫﺎﻱﺑﺮﺩﺍﺷﺖ.ﭼﻨﺎ ﺣﺎﻝﻧﺍﺯ ﺑﺎﻧﮑﻲ ﭽﻪ
»ﭘﺎﺋﻴﻦ ﮐﻴﻔﻴﺖ ﺑﺎ ﻫﺎﻱﺩﺍﺭﺍﺋﻲ«١
ﺑﺎ ﻫﺎﺳﭙﺮﺩﻩ ﺍﺳﺘﺮﺩﺍﺩ ﺑﻮﻳﮋﻩ ﺧﻮﺩ ﺗﻌﻬﺪﺍﺕ ﺍﻧﺠﺎﻡ ﺩﺭ ﺑﺎﺷﺪ ﺑﺮﺧﻮﺭﺩﺍﺭ
ﻫﻤﻮﺍﺭ ﮐﻪ ﺍﺳﺖ ﺍﺗﻔﺎﻗﻲ ﻫﻤﺎﻥ ﻭﺿﻌﻴﺖ ﺍﻳﻦ ﻭ ﺷﺪﻩ ﻣﻮﺍﺟﻪ ﻣﺸﮑﻞﺁﻣﺪﻥ ﭘﻴﺶ ﺍﺯ ﻣﺮﮐﺰﻱ ﻫﺎﻱﺑﺎﻧﮏ ﻩ
ﻣﺆﺳﺴﺎﺕ ﻭ ﺑﺎﻧﮑﻲ ﻫﺎﻱﺩﺍﺭﺍﺋﻲ ﮐﻴﻔﻴﺖ ﺍﺭﺯﻳﺎﺑﻲ ﻭ ﻣﺮﺍﻗﺒﺖ ﺟﻬﺖ ﻫﻤﻴﻦ ﺑﻪ ﻭ ﻫﺴﺘﻨﺪ ﻧﮕﺮﺍﻥ ﺁﻥ
ﺯﻳﺎﺩ ﺑﺴﻴﺎﺭ ﺍﻭﻟﻮﻳﺖ ﺩﺍﺭﺍﻱ ﻣﺮﮐﺰﻱ ﺑﺎﻧﮏ ﻧﻈﺎﺭﺗﻲ ﻏﻴﺮﻣﺴﺘﻤﺮ ﻭ ﻣﺴﺘﻤﺮ ﺭﻳﺰﻱﺑﺮﻧﺎﻣﻪ ﺩﺭ ﺍﻋﺘﺒﺎﺭﻱ
ﻣﻲﺑﺎﺷﺪ)،ﺁﺑﺎﺩﻱ ﻧﺠﻢ۱۳۷۲.(
۲-۱-۴-ﻫﺭﻳﺴﮏ ﺑﺮﺍﺑﺮ ﺩﺭ ﺑﺎﻧﮑﻲ ﺷﺒﮑﻪ ﺳﻼﻣﺖﺎ
ﺑﺎﻧﮏ ﺷﺒﮑﻪ ﺳﻼﻣﺖ ﺣﻔﻆ ﺩﺭ ﻧﻈﺎﺭﺕ ﻧﻘﺶ ﺍﺭﺯﻳﺎﺑﻲ ﺑﺮﺍﻱﻗﺮﺍﺭ ﺑﺮﺭﺳﻲ ﻣﻮﺭﺩ ﺫﻳﻞ ﮐﻠﻴﺪﻱ ﻋﻮﺍﻣﻞ ،ﻫﺎ
ﮔﻴﺮﻧﺪﻣﻲ:ﺩﺍﺭﺍﺋﻲ ﮐﻞ ﺑﻪ ﺳﺮﻣﺎﻳﻪ ﻧﺴﺒﺖﮔﻴﺮﻱﺫﺧﻴﺮﻩ ،ﮔﺬﺷﺘﻪ ﺳﺮﺭﺳﻴﺪ ﻭ ﻣﻌﻮﻕ ﻣﻄﺎﻟﺒﺎﺕ ﻣﻴﺰﺍﻥ ،ﻫﺎ
ﺑﺎﻧﮑﻲ ﻫﺎﻱﻓﻌﺎﻟﻴﺖ ﺩﺭ ﺭﺍﻳﺞ ﻫﺎﻱﺭﻳﺴﮏ ﺑﺎ ﻣﻘﺎﺑﻠﻪ ﻫﺎﻱﺭﺍﻩ ﻭ ﻣﻄﺎﻟﺒﺎﺕ ﻗﺒﺒﻴﻞ ﺍﻳﻦ ﺑﺮﺍﻱ)،ﻟﻮﻳﻲ۱۹۹۱.(
۲-۴-ﻫﺎﺑﺎﻧﮏ ﻣﻴﺎﻥ ﺳﺎﻟﻢ ﺭﻗﺎﺑﺖ ﮔﺴﺘﺮﺵ ﺩﺭ ﻧﻈﺎﺭﺕ ﻧﻘﺶ
ﻭ ﺁﺯﺍﺩ ﻣﺤﻴﻄﻲ ﺍﻳﺠﺎﺩ ﺑﺴﻮﻱ ﮔﺮﺍﻳﺶ ،ﭘﻴﺸﺮﻓﺘﻪ ﻫﺎﻱﮐﺸﻮﺭ ﺍﮐﺜﺮ ﺩﺭ ﮐﺎﺭﺁﻣﺪ ﺑﺎﻧﮑﻲ ﻧﻈﺎﺭﺕ ﺍﻣﺮﻭﺯﻩ
ﻣﻲ ﻗﺮﺍﺭ ﺗﺄﮐﻴﺪ ﻣﻮﺭﺩ ﺭﺍ ﺑﺎﺷﺪ ﺷﺪﻩ ﺗﺮﮐﻴﺐ ﺩﻗﻴﻖ ﻧﻈﺎﺭﺗﻲ ﭼﺎﺭﭼﻮﺏ ﺑﺎ ﮐﻪ ﺁﻣﻴﺰﺭﻗﺎﺑﺖﺩﻫﺪ.ﺑﻪ ﻻﺯﻡ
ﺍﺳﺖ ﺫﮐﺮ»ﺳﺎﺧﺘﺎﺭﻱ ﻣﻘﺮﺭﺍﺕ«٢
ﺑﺮﮔﻴﺮﻧ ﺩﺭﻫﺴﺘﻨﺪ ﺭﻗﺎﺑﺖ ﺑﺮﺍﺑﺮ ﺩﺭ ﻣﺘﻌﺪﺩﻱ ﻣﻮﺍﻧﻊ ﺪﻩ.ﻣﺜﺎﻝ ﺑﺮﺍﻱ
ﺻﺪﻭﺭ ﺑﻪ ﻣﺮﺑﻮﻁ ﻣﻘﺮﺭﺍﺕﺟﺪﻳﺪ ﺑﺎﻧﮏ ﺍﺣﺪﺍﺙ ﺑﺮﺍﻱ ﻣﺠﻮﺯﻳﺍﺯ ﻓﻌﻠﻲ ﻫﺎﻱﺑﺎﻧﮏ ﺷﻌﺐ ﮔﺴﺘﺮﺵ ﺎ
ﺑﺎﺷﻨﺪﻣﻲ ﻣﻮﺍﺭﺩ ﻗﺒﻴﻞ ﺍﻳﻦ.ﻣﻲ ﻣﻘﺎﺑﻞ ﺩﺭﹰﺎﺍﺳﺎﺳ ﻣﺬﮐﻮﺭ ﻣﻘﺮﺭﺍﺕ ﮐﻪ ﺷﻮﺩ ﺍﺳﺘﺪﻻﻝ ﻃﻮﺭ ﺍﻳﻦ ﺗﻮﺍﻧﺪ
ﺟﻠﻮ ﺟﻬﺖ ﻫﺎﺁﻥ ﺯﻳﺮﺍ ﻫﺴﺘﻨﺪ ﻧﻈﺎﺭﺗﻲ ﻣﺎﻫﻴﺘﻲ ﺩﺍﺭﺍﻱﺷﺪﻩ ﻃﺮﺍﺣﻲ ﺭﻗﺎﺑﺖ ﺍﻓﺰﺍﻳﺶ ﺍﺯ ﮔﻴﺮﻱﮐﻪ ﺍﻧﺪ
ﻣﻲﻧﻤﺎﻳﺪ ﻓﺮﺍﻫﻢ ﺭﺍ ﺑﺎﻧﮑﻲ ﻧﻈﺎﻡ ﺳﻼﻣﺖ ﮐﺎﻫﺶ ﻣﻮﺟﺒﺎﺕ ﺗﻮﺍﻧﺪ)،ﻟﻮﻳﻲ۱۹۹۱.(ﻓﻮﻕ ﻣﻮﺍﺭﺩ ﺑﻪ ﺗﻮﺟﻪ ﺑﺎ
ﮔﺸﺎﻳﺶ ﺑﺮﺍﻱ ﻣﺠﻮﺯ ﺍﻋﻄﺎﻱ ،ﺑﺎﻧﮑﻲ ﻣﺠﺎﺯ ﻫﺎﻱﻓﻌﺎﻟﻴﺖ ﮐﻪ ﺳﺎﺧﺘﺎﺭﻱ ﻣﻘﺮﺭﺍﺕ ﺑﻪ ﺳﻮ ﻳﮏ ﺍﺯ ﺍﻣﺮﻭﺯﻩ
ﮐﻨﺪﻣﻲ ﺗﻌﻴﻴﻦ ﺭﺍ ﺑﻬﺮﻩ ﻫﺎﻱﻧﺮﺥ ﺩﺭ ﺁﺯﺍﺩﻱ ﻭ ﺷﻌﺐ،ﺗﻮﺟﻪﻣﻲﻫﻤﺰﻣﺎﻥ ﺑﻄﻮﺭ ﺩﻳﮕﺮ ﺳﻮﻱ ﺍﺯ ﻭ ﺷﻮﺩ
ﻧﻘﺪﻳﻨﮕﻲ ﻭﺟﻮﺩ ﺍﺯ ﺍﻃﻤﻴﻨﺎﻥ ﮐﺴﺐ ﺟﻬﺖ ﺗﺮﺍﺯﻧﺎﻣﻪ ﻫﺎﻱﮐﻨﺘﺮﻝ ﺑﻪ ﻣﺮﺑﻮﻁ ﺍﺣﺘﻴﺎﻃﻲ ﻣﻘﺮﺭﺍﺕ ﺍﻋﻤﺎﻝ
__________________________________________________________
١- Sub-Standard Asset Quality
٢- Structural Regulation
9. ﻧﺑﺎﻧﮑﯽ ﺳﯿﺴﺘﻢ در ﻈﺎرت95
ﭘﺮﺩﺍﺧﺖ ﺑﺎﺯ ﺗﻮﺍﻥ ﻭ ﮐﺎﻓﻲ»ﺑﺎﻧﮏ ﺑﺪﻫﻲ«١
ﮔﻴﺮﻧﺪﻣﻲ ﻗﺮﺍﺭ ﻣﺪﻧﻈﺮ.ﻣﻲ ﺳﺒﺐ ﺍﻣﺮ ﺍﻳﻦﻣﺠﻤﻮﻋﻪ ﮐﻪ ﺷﻮﺩ
ﻣﻨﺎ ﺣﺎﻝ ﻋﻴﻦ ﺩﺭ ﻭ ﻧﻴﺎﻓﺘﻪ ﮔﺴﺘﺮﺵ ﻧﻈﺮ ﻣﻮﺭﺩ ﺳﻴﺴﺘﻢ ﺩﺭ ﻫﺎﺭﻳﺴﮏﮐﺴﺐ ﻧﻴﺰ ﺭﻗﺎﺑﺖ ﺍﺯ ﺣﺎﺻﻞ ﻓﻊ
ﮔﺮﺩﺩ.ﮔﺴﺘﺮﺵ ﻋﻴﻦ ﺩﺭ ﮐﻪ ﮔﺮﺩﺩ ﺗﻌﻴﻴﻦ ﻣﺎﻟﻲ ﺑﺨﺶ ﺑﺮﺍﻱ ﭼﺎﺭﭼﻮﺑﻲ ﺁﻧﭽﻨﺎﻥ ﺑﺎﻳﺪ ﺩﻳﮕﺮ ﻋﺒﺎﺭﺕ ﺑﻪ
ﮔﻮﻧﻪ ﺑﻪ ﻣﺎﻟﻲ ﻫﺎﻱﻓﻌﺎﻟﻴﺖ ﺍﺯ ﺧﺮﻭﺝ ﻭ ﻭﺭﻭﺩ ،ﺭﻗﺎﺑﺖﻣﺎﻟﻲ ﻧﻈﺎﻡ ﺛﺒﺎﺕ ﺩﺭ ﻭ ﭘﺬﻳﺮﻓﺘﻪ ﺻﻮﺭﺕ ﻣﻨﻈﻢ ﺍﻱ
ﻧﮕﺮﺩﺩ ﺍﻳﺠﺎﺩ ﺧﻠﻠﻲ.
ﺑﻌﺪ ﺩﻭ ﺍﺯ ﺑﺎﻳﺴﺖﻣﻲ ﺑﺎﻧﮑﻲ ﻧﻈﺎﺭﺕ»ﺗﻠﻔﻴﻘﻲ«ﻭ»ﺟﻬﺎﻧﻲ«٢
ﮔﻴﺮﺩ ﻗﺮﺍﺭ ﺗﻮﺟﻪ ﻣﻮﺭﺩ.ﮐﻪ ﻣﻌﻨﻲ ﺑﺪﻳﻦ
ﺩﺍﺧﻠﻲ ﺳﻄﺢ ﺩﺭ ﭼﻪ ﻭ ﺍﻟﻤﻠﻠﻲﺑﻴﻦ ﺳﻄﺢ ﺩﺭ ﭼﻪ ،ﺑﺎﺯﺭﺳﺎﻥ ﻣﻴﺎﻥ ﻧﺰﺩﻳﮏ ﻫﻤﮑﺎﺭﻱ ﻭ ﮔﻔﺘﮕﻮ ﻭﺟﻮﺩ
ﻫﻤﺎﻫﻨﮕﻲ ﻋﺪﻡ ﺯﻳﺮﺍ ﺍﺳﺖ ﺿﺮﻭﺭﻱ ﺍﻣﺮﻱ ﻧﻈﺎﺭﺕ ﻣﻘﺮﺭﺍﺕ ﺩﺭ ﻫﻤﺎﻫﻨﮕﻲ ﻋﺪﻡ ﺍﺯ ﺟﻠﻮﮔﻴﺮﻱ ﺟﻬﺖ
ﻣﻲ ﺧﻄﺮ ﺑﻪ ﺭﺍ ﺑﺎﻧﮑﻲ ﻧﻈﺎﻡ ﺛﺒﺎﺕ ،ﻣﺬﮐﻮﺭﺍﻧﺪﺍﺯﺩ.ﻣ ﺍﺳﺖ ﺫﮐﺮ ﺑﻪ ﻻﺯﻡﺗﻨﻈﻴﻢ ﺻﻮﺭﺗﻲ ﺑﻪ ﻧﺒﺎﻳﺪ ﻘﺮﺭﺍﺕ
ﺑﻴﻦ ﻣﺎﻟﻲ ﻧﻈﺎﻡ ﻳﺎ ﺩﺍﺧﻠﻲ ﻣﺎﻟﻲ ﻧﻈﺎﻡ ﺭﻗﺎﺑﺖ ﻗﺎﺑﻠﻴﺖ ﺑﻪ ﮐﻪ ﮔﺮﺩﺩﺍﺯ ﺑﺎﻳﺪ ﺑﻠﮑﻪ ﺑﺮﺳﺎﻧﺪ ﺁﺳﻴﺐ ﺍﻟﻤﻠﻞ
ﺑﺎﺷﻨﺪ ﺑﺮﺧﻮﺭﺩﺍﺭ ﻣﺨﺘﻠﻒ ﺷﺮﺍﻳﻂ ﺩﺭ ﻻﺯﻡ ﺍﻧﻌﻄﺎﻑ ﻗﺎﺑﻠﻴﺖ)،ﻟﻮﻳﻲ۱۹۹۱.(
ﮔﺴﺘﺮﺵ ﺩﺭ ﺍﺧﻴﺮ ﻫﺎﻱﺳﺎﻝ ﺩﺭ ﺍﻟﻤﻠﻠﻲﺑﻴﻦ ﺗﺴﻮﻳﻪ ﺑﺎﻧﮏ»ﻳﻜﭙﺎﺭﭼﻪ ﻧﻈﺎﺭﺕ«٣
)ﺗﻮﺟﻪ ﺑﺎ ﹰﺎﺧﺼﻮﺻﺑﻪ
ﺳﺮﻣﺎﻳﻪ ﮐﻔﺎﻳﺖ ﻣﻌﻴﺎﺭ(ﻣﻬﻤﻲ ﻧﻘﺶﺭﺍﻧﻤﺎﻳﺪﻣﻲ ﺍﻳﻔﺎ.ﺍﻣﺮﻭﺯﻩﺍﺯ ﻳﻜﻲﺑﺰﺭﮔﺘﺮﻳﻦﻣﺸﻜﻼﺗﮐﻪ ﻲ
ﺳﻮ ﻳﮏ ﺍﺯ ﻧﻈﺎﺭﺕ ﺷﺪﻥ ﺟﻬﺎﻧﻲ ﺍﺯ ﺣﺎﺻﻞ ﻣﻨﺎﻓﻊ ﻣﻴﺎﻥ ﻫﻤﺎﻫﻨﮕﻲ ﺍﻳﺠﺎﺩ ﻫﺴﺘﻨﺪ ﺭﻭﺑﺮﻭ ﺁﻥ ﺑﺎ ﺑﺎﺯﺭﺳﻴﻦ
ﺍﺯ ﻧﺎﺷﻲ ﻣﺸﮑﻼﺕ ﻭ»ﺭﻳﺴﮏ ﺳﺮﺍﻳﺖﻫﺎ«٤
ﺑﺎﺷﻨﺪﻣﻲ ﺩﻳﮕﺮ ﺳﻮﻱ ﺍﺯ ﺳﻴﺴﺘﻢ ﺩﺍﺧﻞ ﺑﻪ.ﺑﻪ ﺭﻭ ﺍﻳﻦ ﺍﺯ
ﺗﺠﺪﻳﺍﺳﺖ ﺷﺪﻩ ﻓﺮﺍﻭﺍﻥ ﺗﺄﮐﻴﺪ ﺫﻳﻞ ﻣﻮﺍﺭﺩ ﺑﻪ ﻣﺮﺑﻮﻁ ﻣﻘﺮﺭﺍﺕ ﺩﺭ ﻧﻈﺮ ﺪ:ﻧﻈﺎﺭﺕ ،ﺳﺮﻣﺎﻳﻪ ﮐﻔﺎﻳﺖ
ﻭﺍﻡ ،ﻧﻘﺪﻳﻨﮕﻲ ،ﺗﻠﻔﻴﻘﻲﺟﻬﺖ ﻣﻘﺮﺭﺍﺕ ﻭ ﻣﻨﺎﺳﺐ ﺩﺍﺧﻠﻲ ﮐﻨﺘﺮﻝ ﻫﺎﻱﺳﻴﺴﺘﻢ ،ﺍﺭﺯﻱ ﻫﺎﻱﺭﻳﺴﮏ ،ﺩﻫﻲ
ﺯﻳﺎﻥ ﺭﺳﺎﻧﺪﻥ ﺣﺪﺍﻗﻞ ﺑﻪ.
ﮔﺴﺘﺮﺵ ﺩﺭ ﻧﻈﺎﺭﺕ ﻧﻘﺶ ﺍﺭﺯﻳﺎﺑﻲ ﺟﻬﺖ ،ﺩﺍﺭﺩ ﻭﺟﻮﺩ ﻣﺎﻟﻲ ﮔﺴﺘﺮﺩﻩ ﺑﺎﺯﺍﺭ ﮐﻪ ﮐﺸﻮﺭﻫﺎﻳﻲ ﺩﺭﺭﻗﺎﺑﺖ
ﻣﺨﺘﻠﻒ ﻫﺎﻱﺑﺎﻧﮏ ﻭ ﻣﺆﺳﺴﺎﺕ ﺑﻪ ﻣﺘﻌﻠﻖ ﻣﺎﻟﻲ ﻫﺎﻱﺻﻮﺭﺕ ،ﻣﺎﻟﻲ ﺷﺒﮑﻪ ﺩﺭ ﺳﺎﻟﻢ)ﻣﺜﺎﻝ ﺑﺮﺍﻱ
»ﺗﺠﺎﺭﻱ ﻫﺎﻱﺑﺎﻧﮏ«٥
»ﺑﺎﺯﺭﮔﺎﻧﻲ ﻫﺎﻱﺑﺎﻧﮏ«١
»ﻭﺟﻮﻩ ﮐﻨﻨﺪﻩ ﺗﺄﻣﻴﻦ ﻣﺆﺳﺴﺎﺕ«٢
ﻭ( ...ﺑﺎ ﺭﺍﺑﻄﻪ ﺩﺭ
__________________________________________________________
١- Solvency
٢- Conglomerate and Global Perspective
-٣ Supervisory Convergence
-٤ Cross Infection of Risk
-٥ Commercial Bank
10. ﺷﻤﺎره13ﺑﻬﺎر87 96
ﺩﺍﺭﺍﺋﻲ ﻣﻴﺰﺍﻥﮔﺮﺩﺩﻣﻲ ﻣﻘﺎﻳﺴﻪ ﻭ ﺑﺮﺭﺳﻲ ﻫﺎﺁﻥ ﻫﺎﻱﻭﺍﻡ ﻭ ﻫﺎﺳﭙﺮﺩﻩ ،ﻫﺎ)،ﻟﻮﻳﻲ۱۹۹۱.(
۳-۴-ﺍﻋﺘﺒﺎﺭﻱ ﻭ ﭘﻮﻟﻲ ﻫﺎﻱﺳﻴﺎﺳﺖ ﺻﺤﻴﺢ ﺍﺟﺮﺍﻱ ﺩﺭ ﻧﻈﺎﺭﺕ ﻧﻘﺶ
ﮐﻼﻥ ﺍﻫﺪﺍﻑ ﺍﺯ ﻗﺴﻤﺘﻲ ،ﻣﺎﻟﻲ ﻭ ﭘﻮﻟﻲ ﺛﺒﺎﺕ ﺑﺎ ﺳﺎﺧﺘﺎﺭ ﮔﺴﺘﺮﺵ ﺍﺯ ﻣﺮﮐﺰﻱ ﺑﺎﻧﮏ ﻋﻤﺪﻩ ﻫﺪﻑ
ﻣﻲ ﻣﺤﺴﻮﺏ ﺍﻗﺘﺼﺎﺩﻱﻭ ﮔﺬﺍﺭﻱﺳﺮﻣﺎﻳﻪ ،ﺍﺷﺘﻐﺎﻝ ،ﮐﻞ ﻋﺮﺿﻪ ﺩﺭ ﺭﺷﺪ ﺑﻪ ﺩﺳﺘﻴﺎﺑﻲ ﺟﻬﺖ ﮐﻪ ﮔﺮﺩﺩ
ﮔﻴﺮﺩﻣﻲ ﺻﻮﺭﺕ ﻣﺼﺮﻑ.ﻣﺎ ﺳﺎﺧﺘﺎﺭ ﻭﺟﻮﺩ ﺭﺍﺑﻄﻪ ﺍﻳﻦ ﺩﺭﺳﻴﺎﺳﺖ ﺍﺟﺮﺍﻱ ﺑﺮﺍﻱ ﻣﺴﺘﺤﮑﻢ ﻭ ﺳﺎﻟﻢ ﻟﻲ
ﺩﺭ ﭘﻮﻟﻲ ﺳﻴﺎﺳﺖ ﺍﺛﺮﺍﺕ ﺷﺪﻥ ﻣﺤﺪﻭﺩ ﺳﺒﺐ ﻓﻌﺎﻝ ﻏﻴﺮ ﻭ ﺿﻌﻴﻒ ﺑﺎﻧﮑﻲ ﺷﺒﮑﻪ ﺯﻳﺮﺍ ﺍﺳﺖ ﺍﻟﺰﺍﻣﻲ ﭘﻮﻟﻲ
ﻣﻲ ﮐﺸﻮﺭ ﺍﻗﺘﺼﺎﺩﻱ ﻭﺿﻌﻴﺖ ﺑﻬﺒﻮﺩﮔﺮﺩﺩ.ﻳﮑﺴﺮﻱ ﺍﺯ ﺍﺳﺘﻔﺎﺩﻩ ،ﻧﻈﺎﺭﺕ ﺍﺯ ﻧﻘﺶ ﺍﻳﻦ ﺍﺭﺯﻳﺎﺑﻲ ﺟﻬﺖ
ﻫﺎﺑﺎﻧﮏ ﺗﺒﻌﻴﺖ ﻭ ﺑﻮﺩﻩ ﺳﻮﺩﻣﻨﺪ ﺗﻮﺍﻧﺪﻣﻲ ﻫﺎﺑﺎﻧﮏ ﻣﺎﻟﻲ ﻫﺎﻱﻧﺴﺒﺖﺭﺍ ﭘﻮﻟﻲ ﺳﻴﺎﺳﺖ ﻫﺎﻱﺑﺨﺸﻨﺎﻣﻪ ﺍﺯ
ﻧﻤﺎﻳﺪ ﺑﺮﺭﺳﻲ.
ﻣﺠﻤﻮ ﺩﺭﻉﻋﻮﺍﻣﻞ ﺭﻗﺎﺑﺖ ﮔﺴﺘﺮﺵ ﻭ ﺑﺎﻧﮑﻲ ﻧﻈﺎﻡ ﺳﻼﻣﺖ ﺣﻔﻆ ﺩﺭ ﻧﻈﺎﺭﺕ ﻣﻮﻓﻘﻴﺖ ﺍﺭﺯﻳﺎﺑﻲ ﺑﺮﺍﻱ ،
ﮔﻴﺮﻧﺪ ﻗﺮﺍﺭ ﺑﺮﺭﺳﻲ ﻣﻮﺭﺩ ﺗﻮﺍﻧﻨﺪﻣﻲ ﭼﻨﺪﻱ.ﭼﺎﺭﭼﻮﺏ ﻳﮏ ﺑﺎ ﺑﺎﻳﺴﺖﻣﻲ ﻧﻴﺰ ﻧﻈﺮ ﻣﻮﺭﺩ ﺭﻗﺎﺑﺖ
ﺟﻠﻮﮔ ﻧﺎﺳﺎﻟﻢ ﻓﻀﺎﻳﻲ ﺍﻳﺠﺎﺩ ﺍﺯ ﺗﺎ ﮔﺮﺩﺩ ﻫﻤﺮﺍﻩ ﺩﻗﻴﻖ ﻧﻈﺎﺭﺗﻲﺑﻪ ﻴﺮﻱﺁﻳﺪ ﻋﻤﻞ.ﺑﺎﻧﮑﻲ ﻧﻈﺎﺭﺕ ﺣﻤﺎﻳﺖ
ﺍﺭﺯﻳﺎﺑﻲ ﺩﺭ ﮐﻪ ﺍﺳﺖ ﺩﻳﮕﺮﻱ ﻣﻬﻢ ﻫﺎﻱﻣﻌﻴﺎﺭ ﺍﺯ ﺍﻋﺘﺒﺎﺭﻱ ﻭ ﭘﻮﻟﻲ ﻫﺎﻱﺳﻴﺎﺳﺖ ﺻﺤﻴﺢ ﺍﺟﺮﺍﻱ ﺍﺯ
ﮔﻴﺮﻳﺪ ﻗﺮﺍﺭ ﺍﺳﺘﻔﺎﺩﻩ ﻣﻮﺭﺩ ﺗﻮﺍﻧﺪﻣﻲ ﻧﻈﺎﺭﺕ.
۵-ﺟﻬﺎﻥ ﺩﺭ ﻫﺎﺑﺎﻧﮏ ﺑﺮ ﻧﻈﺎﺭﺕ ﺗﺤﻮﻻﺕ ﺳﻴﺮ
ﺑﻴﺴﺘﻢ ﻗﺮﻥ ﺩﺭ ﻟﮑﻦ ﮔﺮﺩﻳﺪﻩ ﺁﻏﺎﺯ ﻗﺒﻞ ﻗﺮﻥ ﭼﻨﺪ ﺍﺯ ﻣﺮﮐﺰﻱ ﺑﺎﻧﮑﺪﺍﺭﻱﺧﻮﺩ ﺍﻣﺮﻭﺯﻱ ﻣﻔﻬﻮﻡ ﻭ ﻣﻌﻨﻲ
ﺍﺳﺖ ﻳﺎﻓﺘﻪ ﺭﺍ.ﺳﺎﻝ ﺩﺭ ﻣﺮﮐﺰﻱ ﺑﺎﻧﮏ ﻧﺨﺴﺘﻴﻦ۱۶۵۶ﻣﻴﻼﺩﻱﻃﻲ ﺍﺯ ﭘﺲ ﻭ ﺁﻣﺪ ﺑﻮﺟﻮﺩ ﺳﻮﺋﺪ ﺩﺭ
ﺳﺎﻝ ﺩﺭ ،ﻣﺨﺘﻠﻒ ﻣﺮﺍﺣﻞ۱۸۹۷ﻡ.ﻧﻤﻮﺩ ﺧﻮﺩ ﺁﻥ ﺍﺯ ﺭﺍ ﺍﺳﮑﻨﺎﺱ ﻧﺸﺮ ﮐﺎﻣﻞ ﺍﻧﺤﺼﺎﺭ.ﺍﻧﮕﻠﺴﺘﺎﻥ ﺑﺎﻧﮏ
ﺳﺎﻝ ﺩﺭ ﮐﻪ ﻧﻴﺰ۱۶۹۴ﻡ.ﻗﺪﻳﻤﻲ ﺍﺯ ﮔﺮﺩﻳﺪ ﺗﺄﺳﻴﺲﻣ ﻣﺤﺴﻮﺏ ﻣﺮﮐﺰﻱ ﻫﺎﻱﺑﺎﻧﮏ ﺗﺮﻳﻦﺷﻮﺩﻲ.
ﭘﺮﺩﺍﺧﺘﻨﺪﻣﻲ ﺍﺳﮑﻨﺎﺱ ﻧﺸﺮ ﺑﻪ ﻧﻴﺰ ﻫﺎﺑﺎﻧﮏ ﺳﺎﻳﺮ ﻣﺮﮐﺰﻱ ﻫﺎﻱﺑﺎﻧﮏ ﺟﺰ ﺑﻪ ﺯﻣﺎﻥ ﺁﻥ ﺩﺭ ﻫﻤﭽﻨﻴﻦ.ﺑﻪ ﺍﻣﺎ
ﻧﻴﺰ ﺩﻳﮕﺮ ﻫﺎﻱﺑﺎﻧﮏ ﻭ ﮔﺸﺘﻪ ﺑﺮﺧﻮﺭﺩﺍﺭ ﺑﻴﺸﺘﺮﻱ ﺍﻋﺘﺒﺎﺭ ﺍﺯ ﻣﺮﮐﺰﻱ ﻫﺎﻱﺑﺎﻧﮏ ﻣﻨﺘﺸﺮﻩ ﻫﺎﻱﭘﻮﻝ ﺗﺪﺭﻳﺞ
ﻧﻤﻮﺩﻧﺪ ﻣﺮﮐﺰﻱ ﻫﺎﻱﺑﺎﻧﮏ ﻧﺰﺩ ﮔﺬﺍﺭﻱﺳﭙﺮﺩﻩ ﺑﻪ ﺷﺮﻭﻉ.ﺗﮑ ﻣﺴﻴﺮ ﺩﺭ ﻣﺮﮐﺰﻱ ﻫﺎﻱﺑﺎﻧﮏﺧﻮﺩ ﺎﻣﻞ
ـــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــ
-١ Merchant Banks
-٢ Finance Company
11. ﻧﺑﺎﻧﮑﯽ ﺳﯿﺴﺘﻢ در ﻈﺎرت97
ﺩﺭﺁﻣﺪﻧﺪ ﻧﻬﺎﻳﻲ ﺩﻫﻨﺪﻩﻭﺍﻡ ﻭ ﺩﻭﻟﺖ ﺑﺎﻧﮑﺪﺍﺭ ﺍﻋﺘﺒﺎﺭﺍﺕ ﮐﻨﻨﺪﻩ ﺗﻨﻈﻴﻢ ﺑﺎﻧﮏ ﺑﺼﻮﺭﺕ)ﻋﺎﺩﻟﻲ؛۱۳۷۰.(
ﺩﻫﻪ ﺑﺰﺭﮒ ﺭﮐﻮﺩ ﺍﺯ ﭘﻴﺶ ﺗﺎ ﮐﻠﻲ ﺑﻄﻮﺭ۱۹۳۰ﻡ.ﻫﺎﻱﻓﻌﺎﻟﻴﺖ ﺗﻨﻈﻴﻢ ﺩﺭ ﭼﻨﺪﺍﻧﻲ ﻧﻘﺶ ﺩﻭﻟﺖ
ﺑﺼﻮﺭﺕ ﺗﻨﻬﺎ ﻧﻴﺰ ﻣﺮﮐﺰﻱ ﻫﺎﻱﺑﺎﻧﮏ ﻭ ﻧﺪﺍﺷﺖ ﺍﻗﺘﺼﺎﺩﻱ»ﮐﻨﻨﺪﻩ ﻫﻤﺎﻫﻨﮓ«ﮐﺮﺩﻧﺪﻣﻲ ﻋﻤﻞ.ﺷﺮﻭﻉ ﺑﺎ
ﺑﺤﺮﺩﻫﻪ ﺩﺭ ﭘﻮﻟﻲ ﺳﻴﺴﺘﻢ ﺷﺪﻥ ﭘﺎﺷﻴﺪﻩ ﻫﻢ ﺍﺯ ﻭ ﺍﻥ۱۹۳۰ﺩﺧﺎﻟﺖ ﮐﻪ ﮐﻴﻨﺰ ﺍﻗﺘﺼﺎﺩﻱ ﻧﻈﺮﻳﻪ ﺑﺮﺍﻱ ﺭﺍﻩ
ﮔﺮﺩﻳﺪ ﻫﻤﻮﺍﺭ ﺩﺍﻧﺴﺖﻣﻲ ﺿﺮﻭﺭﻱ ﺭﺍ ﺍﻗﺘﺼﺎﺩ ﺩﺭ ﺩﻭﻟﺖ.ﻧﻴﺰ ﻣﺮﮐﺰﻱ ﻫﺎﻱﺑﺎﻧﮏ ﻧﻈﺮﻳﻪ ﺍﻳﻦ ﺑﺎ ﻫﻤﺮﺍﻩ
ﻓﻌﺎﻝﺷﺪ ﺍﻗﺘﺼﺎﺩ ﺩﺭ ﺍﺛﺮﮔﺬﺍﺭ ﻧﻘﺸﻲ ﺩﺍﺭﺍﻱ ﻫﺎﺁﻥ ﻭﻇﺎﻳﻒ ﻭ ﺷﺪﻩ ﺗﺮ.
ﺍﻣﺮ ،ﺩﻭﻡ ﺟﻬﺎﻧﻲ ﺟﻨﮓ ﭘﺎﻳﺎﻥ ﺍﺯ ﭘﺲﻩﻭﻳﮋ ﺟﺎﻳﮕﺎﻩ ﻫﺎﺑﺎﻧﮏ ﺑﺮ ﻧﻈﺎﺭﺕﻭﻇﺎﻳﻒ ﺳﺎﻳﺮ ﻣﻴﺎﻥ ﺩﺭ ﺭﺍ ﺍﻱ
ﺩﺍﺩ ﺍﺧﺘﺼﺎﺹ ﺧﻮﺩ ﺑﻪ ﻣﺮﮐﺰﻱ ﻫﺎﻱﺑﺎﻧﮏ ﺍﺻﻠﻲ.ﺟﻬﺖ ﺧﺎﺻﻲ ﺍﺩﺍﺭﻩ ﺗﺄﺳﻴﺲ ﺗﺎﺭﻳﺦ ﺩﻳﮕﺮ ﻋﺒﺎﺭﺕ ﺑﻪ
ﺩﻫﻪ ﻫﺎﻱﺳﺎﻝ ﺣﺪﻭﺩ ﺑﻪ ﺻﻨﻌﺘﻲ ﻫﺎﻱﮐﺸﻮﺭ ﺩﺭ ﻫﺎﺑﺎﻧﮏ ﺑﺮ ﻧﻈﺎﺭﺕ۱۹۵۰ﻭ۱۹۶۰ﺑﺎﺯ ﻣﻴﻼﺩﻱ
ﮔﺮﺩﺩﻣﻲ.ﺑ ﻣﻮﺭﺩ ﻫﺎﻱﺳﺎﻝ ﺩﺭ ﺍﺳﺖ ﺫﮐﺮ ﺑﻪ ﻻﺯﻡﻫﺎﻱﮐﺸﻮﺭ ﺩﺭ ﻫﺎﺑﺎﻧﮏ ﺑﺮ ﻧﻈﺎﺭﺕ ﺣﺪﻭﺩ ﺤﺚ
ﺑﻮﺩ ﻣﺘﻔﺎﻭﺕ ﮔﻮﻧﺎﮔﻮﻥ.ﻓﻌﺎﻟﻴﺖ ﺑﺎﺯﺭﺳﻲ ﺑﻪ ﺍﻋﺘﻘﺎﺩﻱ ﺍﺑﺘﺪﺍ ﺩﺭ ﺍﻧﮕﻠﺴﺘﺎﻥ ﻣﺮﮐﺰﻱ ﺑﺎﻧﮏ ﻣﺜﺎﻝ ﺑﺮﺍﻱ
ﺑﻮﺩﻧﺪ ﺑﺮﺧﻮﺭﺩﺍﺭ ﻣﺴﺌﻮﻝ ﻣﻘﺎﻣﺎﺕ ﺣﻤﺎﻳﺖ ﺍﺯ ﺳﭙﺮﺩﻩ ﺻﺎﺣﺒﺎﻥ ﻭﻟﻲ ﻧﺪﺍﺷﺖ ﻫﺎﺑﺎﻧﮏ.ﺭﻗﺎﺑﺖ ﻗﺪﺭﺕ
ﺩﻫﻪ ﺩﺭ ﺍﻧﮕﻠﻴﺲ ﻫﺎﻱﺑﺎﻧﮏ۶۰-۱۹۵۰ﺑﻮ ﭘﺎﺋﻴﻦ ﺑﺴﻴﺎﺭ ﻳﮑﺪﻳﮕﺮ ﺑﺎﻧﺮﺥ ﻟﺤﺎﻅ ﺍﺯ ﺩﻳﮕﺮ ﻋﺒﺎﺭﺕ ﺑﻪ ،ﺩ
ﻩﺑﻬﺮﺩﺍﺩﻧﺪﻣﻲ ﻫﺎﺳﭙﺮﺩﻩ ﺑﻪ ﮐﻪ ﺍﻱ،ﻧﻴﺰ ﺗﺎﺯﻩ ﻣﺸﺘﺮﻳﺎﻥ ﺁﻭﺭﺩﻥ ﺑﺪﺳﺖ ﺩﺭ ﻭ ﻧﺪﺍﺷﺘﻨﺪ ﻳﮑﺪﻳﮕﺮ ﺑﺎ ﺗﻔﺎﻭﺗﻲ
ﺩﺍﺩﻧﺪﻧﻤﻲ ﻧﺸﺎﻥ ﺭﻏﺒﺘﻲ.ﺑﺴﻴﺎﺭ ﺑﺎﻧﮑﻲ ﮐﻨﺘﺮﻝ ﻭ ﻧﻈﺎﺭﺕ ﻣﺘﺤﺪﻩ ﺍﻳﺎﻻﺕ ﺩﺭ ،ﻫﻤﺰﻣﺎﻥ ﺑﻄﻮﺭ ﻭ ﻣﻘﺎﺑﻞ ﺩﺭ
ﺷﺪﻳﺪ ﮐﻨﺘﺮﻝ ﺗﺤﺖ ﺑﻬﺮﻩ ﻫﺎﻱﻧﺮﺥ ﮐﻪ ﺑﻄﻮﺭﻱ ،ﺑﻮﺩ ﺷﺪﻳﺪﺩﺍﺷﺖ ﻗﺮﺍﺭ ﺍﺭﻭﭘﺎ ﺍﺯ ﭘﺎﺋﻴﻦ ﺳﻄﺤﻲ ﺩﺭ ﻭ.
ﺩﻫﻪ ﺷﺮﻭﻉ ﺑﺎ ﻟﻴﮑﻦ۱۹۸۰ﺷﺪﺕ ﺍﺯ ،ﺩﺍﺩ ﺭﺥ ﻫﺎﺑﺎﻧﮏ ﻋﻤﻠﮑﺮﺩ ﺩﺭ ﮐﻪ ﺗﺤﻮﻻﺗﻲ ﺩﻟﻴﻞ ﺑﻪ ﻣﻴﻼﺩﻱ
ﺷﺪ ﮐﺎﺳﺘﻪ ﺍﻣﺮﻳﮑﺎ ﺩﺭ ﻫﺎﺑﺎﻧﮏ ﻓﻌﺎﻟﻴﺖ ﺑﺮ ﻧﻈﺎﺭﺕ.ﺩﻫﻪ ﺷﺮﻭﻉ ﺑﺎ ﺍﻧﮕﻠﺴﺘﺎﻥ ﮐﺸﻮﺭ ﺩﺭ۱۹۷۰ﺩﺭ ﺭﻗﺎﺑﺖ
ﻟﺰﻭﻡ ﺁﻥ ﻣﺘﻌﺎﻗﺐ ﻭ ﮔﺮﺩﻳﺪ ﺁﻏﺎﺯ ﻫﺎﺑﺎﻧﮏ ﻣﻴﺎﻥ ﺩﺭ ﺩﻫﻲ ﻭﺍﻡﻭ ﻣﻌﻨﻲ ﺩﺍﺭﺍﻱ ﻫﺎﺑﺎﻧﮏ ﻓﻌﺎﻟﻴﺖ ﺑﺮ ﻧﻈﺎﺭﺕ
ﺷﺪ ﻣﻔﻬﻮﻡ)ﻗﺮﻳﺐ؛۱۳۶۶.(
ﮔﺮﺩﺩﻣﻲ ﻣﺮﺑﻮﻁ ﺗﺤﻮﻻﺗﻲ ﺑﻪ ﻣﺨﺘﻠﻒ ﻫﺎﻱﺳﺎﻝ ﺩﺭ ﻫﺎﺑﺎﻧﮏ ﺑﺮ ﻧﻈﺎﺭﺕ ﺍﻫﻤﻴﺖ ﺩﺭﺟﻪ ﺗﻐﻴﻴﺮ ﻫﻤﭽﻨﻴﻦ
ﻫﺎﻱﺩﻫﻪ ﺩﺭ ﮐﻪ۸۰-۱۹۶۰ﺍﺳﺖ ﺩﺍﺩﻩ ﺭﺥ ﺍﺭﻭﭘﺎ ﻭ ﺍﻣﺮﻳﮑﺎ ﺩﺭ ﺑﺎﻧﮑﺪﺍﺭﻱ ﺯﻣﻴﻨﻪ ﺩﺭ ﻣﻴﻼﺩﻱ.ﻣﺮﻭﺭﻱ
ﺗﺤﻮﻻﺕ ﺍﻳﻦ ﻋﻤﺪﻩ ﻋﻠﻞ ﺑﺮ ﺍﺟﻤﺎﻟﻲﺭﺍ ﻫﺎﺑﺎﻧﮏ ﺑﺮ ﻧﻈﺎﺭﺕ ﺗﮑﺎﻣﻠﻲ ﺭﻭﻧﺪ ﺗﻮﺍﻧﺪﻣﻲ ﻫﺎﺑﺤﺮﺍﻥ ﻭ
ﻧﻤﺎﻳﺪ ﺗﺮﻣﺸﺨﺺ.ﻫﺎﻱﺑﺤﺮﺍﻥ ﺑﺮﻭﺯ ﻫﻨﮕﺎﻡ ﻫﺎﺑﺎﻧﮏ ﺑﻪ ﻣﺮﮐﺰﻱ ﻫﺎﻱﺑﺎﻧﮏ ﻫﺎﻱﮐﻤﮏ ﺩﻳﮕﺮ ﻋﺒﺎﺭﺕ ﺑﻪ
ﺍﺳﺖ ﺷﺪﻩ ﻣﺮﮐﺰﻱ ﺑﺎﻧﮏ ﻧﻈﺎﺭﺗﻲ ﻭﻇﻴﻔﻪ ﮔﺴﺘﺮﺵ ﺑﻪ ﻣﻨﺠﺮ ﺑﺎﻧﮑﻲ.
12. ﺷﻤﺎره13ﺑﻬﺎر87 98
ﮐﻠﻲ ﺑﻄﻮﺭ»ﺑﺎﻧﮑﻲ ﺑﺤﺮﺍﻥ«١
ﺣﺎﺩﺛﻪﺑﻪ ﻋﻤﻮﻣﻲ ﺍﻋﺘﻤﺎﺩ ﻓﻘﺪﺍﻥ ﺍﺯ ﮐﻪ ﺍﺳﺖ ﺍﻱﻭ ﺷﺪﻩ ﻧﺎﺷﻲ ﺑﺎﻧﮑﻲ ﺷﺒﮑﻪ
ﮔﺮﺩﺩﻣﻲ ﻧﻤﺎﻳﺎﻥ ﻫﺎﺑﺎﻧﮏ ﺍﺯ ﺧﻮﺩ ﻭﺟﻮﻩ ﺑﺮﺩﺍﺷﺖ ﺑﺮﺍﻱ ﮔﺬﺍﺭﺍﻥﺳﭙﺮﺩﻩ ﻫﺠﻮﻡ ﺑﺼﻮﺭﺕ.ﺑﺤﺮﺍﻧﻲ ﭼﻨﻴﻦ
ﻣﻲﺷﻮﺩ ﻫﺎﺑﺎﻧﮏ ﻭﺭﺷﮑﺴﺘﮕﻲ ﺳﺒﺐ ﺗﻮﺍﻧﺪ.ﺳﺎﻝ ﺩﺭ ﺑﺤﺚ ﻣﻮﺭﺩ ﺷﮑﻞ ﺑﻪ ﺍﻣﺮ ﺍﻳﻦ۱۷۲۰ﻡ.ﺍﺯ ﭘﺲ
ﺁﻣﺪ ﺑﻮﺟﻮﺩ ﻓﺮﺍﻧﺴﻪ ﺩﺭ ﺁﻥ ﺟﺪﻳﺪ ﺷﮑﻞ ﺑﻪ ﺑﺎﻧﮑﺪﺍﺭﻱ ﺗﺠﺮﺑﻪ ﺍﻭﻟﻴﻦ ﺁﻧﮑﻪ،ﻳﺎﻓﺖ ﺗﺤﻘﻖﺑﺤﺮﺍﻥ ﻭ
ﺍﻧﺠﺎﻡ ﺩﺭ ﺑﺎﻧﮏ ﺗﻮﺍﻧﺎﻳﻲ ﻋﺪﻡ ﺩﺭﺻﻮﺭﺕ ﮐﻪ ﺩﺍﺩ ﻗﺮﺍﺭ ﺗﺄﮐﻴﺪ ﻣﻮﺭﺩ ﺭﺍ ﺑﺎﻻﺗﺮﻱ ﻣﺮﺍﺟﻊ ﻭﺟﻮﺩ ﻣﺬﮐﻮﺭ
ﻧﻤﺎﻳﺪ ﺗﻘﺒﻞ ﺭﺍ ﺑﺎﻧﮏ ﺗﻌﻬﺪﺍﺕ ﺍﻧﺠﺎﻡ ﻭ ﺷﺪﻩ ﻋﻤﻞ ﻭﺍﺭﺩ ﺗﻌﻬﺪﺍﺗﺶ.ﻧﻈﺮ ﻣﻮﺭﺩ ﻣﺮﺟﻊ ﺿﻤﻦ ﺩﺭ
ﺑﺎﻧﮏ ﻣﺸﺘﺮﻳﺎﻥ ﺗﻘﺎﺿﺎﻱ ﺑﻪ ﭘﺎﺳﺨﮕﻮﻳﻲ ﺑﺮﺍﻱ ﺫﺧﺎﻳﺮ ﻧﺼﺎﺏ ﺣﺪ ،ﻗﺎﻧﻮﻧﻲ ﻣﻘﺮﺭﺍﺕ ﻭﺿﻊ ﺑﺎ ﺑﺎﻳﺴﺖﻣﻲ
ﻣ ﺭﺍﻧﻤﺎﻳﺪ ﺸﺨﺺ.
ﻓﻮﻕ ﺑﺤﺮﺍﻥ ﺍﺯ ﭘﺲﮐﻪ ﺁﻣﺪ ﺑﻮﺟﻮﺩ ﺍﻧﮕﻠﺴﺘﺎﻥ ﺩﺭ ﻫﺎﺑﺎﻧﮏ ﺍﺯ ﻳﮑﻲ ﺑﺮﺍﻱ ﻣﺸﺎﺑﻬﻲ ﺳﺮﻧﻮﺷﺖ ﺍﻟﺬﮐﺮ
ﺑﻲ ﺍﺯ ﻧﺎﺷﻲﺑﻮﺩ ﻧﻈﺮ ﻣﻮﺭﺩ ﺑﺎﻧﮏ ﺑﻪ ﻣﺮﺩﻡ ﺍﻋﺘﻤﺎﺩﻱ.ﺩﻫﻪ ﺭﮐﻮﺩ ﺷﺮﻭﻉ ﺑﺎ۱۹۲۰ﺑﺎ ﺑﺎﻧﮑﻲ ﻫﺎﻱﺑﺤﺮﺍﻥ
ﺳ ﺩﺭ ﺑﻬﺮﻩ ﻫﺎﻱﻧﺮﺥ ﺷﺪﻳﺪ ﮐﺎﻫﺶ ﺑﺎ ﮐﻪ ﺑﻄﻮﺭﻱ ﮔﺮﺩﻳﺪﻧﺪ ﭘﺪﻳﺪﺍﺭ ﮔﺬﺷﺘﻪ ﺍﺯ ﻣﺘﻔﺎﻭﺕ ﮐﻴﻔﻴﺘﻲﺎﻝ
۱۹۲۲ﻡ.ﻩﮔﺴﺘﺮﺩ ﻭﺭﺷﮑﺴﺘﮕﻲﺩﻫﻪ ﺍﻭﺍﺧﺮ ﺗﺎ ﮐﻪ ﭘﻴﻮﺳﺖ ﺑﻮﻗﻮﻉ ﺁﻣﺮﻳﮑﺎ ﻭ ﺍﺭﻭﭘﺎ ﺑﺎﻧﮑﻲ ﺷﺒﮑﻪ ﺩﺭ ﺍﻱ
ﻳﺎﻓﺖ ﺍﺩﺍﻣﻪ ﺑﺤﺚ ﻣﻮﺭﺩ.ﻣﺮﮐﺰﻱ ﻫﺎﻱﺑﺎﻧﮏ ﮔﺮﺩﻳﺪ ﺫﮐﺮ ﻧﻴﺰ ﹰﻼﻗﺒ ﮐﻪ ﻃﻮﺭ ﻫﻤﺎﻥ ﻫﺎﺳﺎﻝ ﺍﻳﻦ ﺩﺭ
ﺍﻳﻔﺎ ﻫﺎﺑﺎﻧﮏ ﻋﻤﻠﮑﺮﺩ ﺑﺮ ﻧﻈﺎﺭﺕ ﺩﺭ ﺗﻮﺟﻬﻲ ﻗﺎﺑﻞ ﻧﻘﺶ ﻭ ﻧﻤﻮﺩﻩ ﻋﻤﻞ ﮐﻨﻨﺪﻩﻫﻤﺎﻫﻨﮓ ﺑﺼﻮﺭﺕ ﹰﺎﺻﺮﻓ
ﻧﻤﻲﮐﺮﺩﻧﺪ.
ﺳﺎﻝ ﺩﺭ۱۹۳۶ﺳﻮﺳﻴﺎﻟﻴﺴﺖ ﺁﻣﺪﻥ ﮐﺎﺭ ﺭﻭﻱ ﺑﺎﻫﻨﮕﺎﻣﻲ ﻓﺮﺍﻧﺴﻪ ﺩﺭ ﻫﺎﻭ ﻫﺎﺑﺎﻧﮏ ﮐﺮﺩﻥ ﻣﻠﻲ ﮐﻪ
ﺭﻭﺍﻧﻲ ﺩﻻﻳﻠﻲ ﺑﻨﺎﺑﻪ ،ﮔﺮﻓﺖ ﻗﺮﺍﺭ ﺍﻗﺘﺼﺎﺩﻱ ﺍﺻﻼﺣﺎﺕ ﻟﻮﺣﻪ ﺳﺮ ﺩﺭ ﮐﻠﻴﺪﻱ ﺻﻨﺎﻳﻊ)ﺍﺯ ﺗﺮﺱ
ﺳﻮﺳﻴﺎﻟﻴﺴﻢ(ﺭﺍ ﻓﺮﺍﻧﺴﻪ ﺳﺮﺗﺎﺳﺮ ﺳﺮﻣﺎﻳﻪ ﺍﺯ ﻭﺳﻴﻌﻲ ﺧﺮﻭﺝ ﺟﺮﻳﺎﻥ ﻭ ﺷﺪﻩ ﺧﺎﺭﺝ ﻫﺎﺑﺎﻧﮏ ﺍﺯ ﻫﺎﺳﺮﻣﺎﻳﻪ
ﺩﺭﺑﺮﮔﺮﻓﺖ.ﻧﻤﻮﺩ ﺗﻘﺒﻞ ﺭﺍ ﻫﺎﺑﺎﻧﮏ ﺷﺪﻥ ﻣﻠﻲ ﺯﻳﺎﻥ ﺟﺒﺮﺍﻥ ﻓﺮﺍﻧﺴﻪ ﻣﺮﮐﺰﻱ ﺑﺎﻧﮏ ﺯﻣﺎﻥ ﺍﻳﻦ ﺩﺭ.
ﺳﺎﻝ ﺩﺭ ﹰﺍﻣﺠﺪﺩ ﺑﺤﺚ ﻣﻮﺭﺩ ﺗﺠﺮﺑﻪ۱۶۴۵ﻡ.ﺣﮑﻮﻣﺖ ﺍﺩﺍﻣﻪ ﺑﺎ ﻫﻤﺮﺍﻩ ﻧﻴﺰ ﺁﻥ ﺍﺯ ﭘﺲ ﻭ ﺷﺪ ﺗﮑﺮﺍﺭ
ﺳﺎﻝ ﺩﺭ ﻓﺮﺍﻧﺴﻪ ﺩﺭ ﻫﺎﺳﻮﺳﻴﺎﻟﻴﺴﺖ۱۹۷۲ﺑﺎﻧﮏ ﻭ ﺑﻮﺩ ﺣﺎﮐﻢ ﺍﻗﺼﺎﺩ ﺩﺭ ﺩﻭﻟﺖ ﺩﺧﺎﻟﺖ ﮐﻤﺎﮐﺎﻥ
ﺳﻴﺎ ﺑﻪ ﻧﻴﺰ ﻣﺮﮐﺰﻱﺩﻫﻪ ﺍﻭﺍﺳﻂ ﺩﺭ ﺍﻳﻨﮑﻪ ﺗﺎ ﺩﺍﺩﻣﻲ ﺍﺩﺍﻣﻪ ﻫﺎﺑﺎﻧﮏ ﻗﺒﺎﻝ ﺩﺭ ﺧﻮﺩ ﺣﻤﺎﻳﺘﻲ ﺳﺖ۸۰
ﺍﻗﺘﺼﺎﺩﻱ ﻟﻴﺒﺮﺍﻟﻴﺴﻢ ﻣﮑﺘﺐ ﻣﻴﻼﺩﻱ)ﺍﻗﺘﺼﺎﺩ ﺩﺭ ﺩﻭﻟﺖ ﺩﺧﺎﻟﺖ ﺣﺪﺍﻗﻞ(ﭘﻴﺪﺍ ﮐﺸﻮﺭ ﺩﺭ ﺟﺪﻳﺪﻱ ﺟﺎﻱ
ﺷﺪ ﮐﺎﺳﺘﻪ ﻧﻴﺰ ﻫﺎﺑﺎﻧﮏ ﺑﻪ ﻓﺮﺍﻧﺴﻪ ﻣﺮﮐﺰﻱ ﺑﺎﻧﮏ ﮐﻨﺘﺮﻝ ﻭ ﻧﻈﺎﺭﺕ ﻣﻴﺰﺍﻥ ﺍﺯ ﻭ ﻧﻤﻮﺩ)ﺍﺻﻞ؛ ﻗﺪﻳﺮﻱ
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١ - Bank Panic
13. ﻧﺑﺎﻧﮑﯽ ﺳﯿﺴﺘﻢ در ﻈﺎرت99
۱۳۷۱.(
ﻗﻴﻤ ﺷﺪﻳﺪ ﺍﻓﺰﺍﻳﺶﺳﺎﻝ ﺩﺭ ﻧﻔﺖ ﻫﺎﻱﺖ۱۹۷۳ﺍﻓﺘﺎﺩﻥ ﺟﺮﻳﺎﻥ ﺑﻪ ﻭ ﻫﺎﺑﺎﻧﮏ ﻧﻘﺪﻳﻨﮕﻲ ﺍﻓﺰﺍﻳﺶ ﺳﺒﺐ
»ﻧﻔﺘﻲ ﻫﺎﻱﺩﻻﺭ«ﻩﮔﺴﺘﺮﺩ ﺭﻗﺎﺑﺖ ﺁﻥ ﻣﺘﻌﺎﻗﺐ ﻭ ﺷﺪ ﺁﻣﺮﻳﮑﺎ ﻭ ﺍﺭﻭﭘﺎ ﺩﺭ ﻫﺎﺁﻥ ﮔﺬﺍﺭﻱﻭﺳﭙﺮﺩﻩﺑﻴﻦ ﺍﻱ
ﻭﺍﻡ ﺍﻣﺮ ﺩﺭ ﻣﺬﮐﻮﺭ ﻫﺎﻱﺑﺎﻧﮏﺩﻫﻪ ﭘﺎﻳﺎﻥ ﺗﺎ ﮐﻪ ﮔﺮﺩﻳﺪ ﺁﻏﺎﺯ ﻣﻨﺎﺑﻊ ﺍﻳﻦ ﻣﺤﻞ ﺍﺯ ﺩﻫﻲ۷۰ﺍﺩﺍﻣﻪ ﻣﻴﻼﺩﻱ
ﺩﺍﺷﺖ.ﮔﺬﺷﺘﺑﻴﻦ ﺗﺠﺎﺭﺕ ﺭﻭﻧﻖ ﻭ ﺑﺎﻧﮑﻲ ﺗﮑﻨﻮﻟﻮﮊﻳﮑﻲ ﭘﻴﺸﺮﻓﺖ ﺍﻟﺬﮐﺮﻓﻮﻕ ﻣﻮﺭﺩ ﺍﺯ ﻪﺩﻫﻪ ﺩﺭ ﺍﻟﻤﻠﻞ
۱۹۸۰ﻡ.ﺷﺪﻧﺪ ﺑﺎﻧﮑﻲ ﻫﺎﻱﻓﻌﺎﻟﻴﺖ ﺣﺠﻢ ﺍﻓﺰﺍﻳﺶ ﺳﺒﺐ ﮐﻪ ﺑﻮﺩﻧﺪ ﺩﻳﮕﺮﻱ ﻋﻮﺍﻣﻞ ﺍﺯ.
ﺩﮔﺮﮔﻮﻧﻲﻫﺎﻱﺩﻫﻪ ﺩﺭ ﮐﻪ ﻫﺎﻳﻲ۶۰ﻭ۷۰ﺩﻭﻟﺖ ﺑﺮ ﻓﺸﺎﺭ ﺍﻓﺰﺍﻳﺶ ﻋﻤﺪﻩ ﻋﺎﻣﻞ ﺩﺍﺩ ﺭﺥ ﻣﻴﻼﺩﻱ
ﺩﻫﻪ ﺩﺭ ﺁﻣﺮﻳﮑﺎ۱۹۸۰ﺭﻓ ﺍﻳﺠﺎﺩ ﺑﺮﺍﻱﺷﺪ ﺑﺎﻧﮑﻲ ﺳﻴﺴﺘﻢ ﺩﺭ ﻻﺯﻡ ﻫﺎﻱﺮﻡ.ﻫﺎﺭﻓﺮﻡ ﺍﻳﻦ ﺗﺮﻳﻦﻋﻤﺪﻩ
ﺑﻮﺩ ﺑﺎﻧﮑﻲ ﻧﻈﺎﻡ ﺁﺯﺍﺩﺳﺎﺯﻱ ﻳﺎ ﻭ ﺩﻭﻟﺖ ﻃﺮﻑ ﺍﺯ ﻫﺎﺑﺎﻧﮏ ﮐﻨﺘﺮﻝ ﺩﺭ ﺗﻘﻠﻴﻞ.ﺩﻫﻪ ﺍﺯ ﻗﺒﻞ ﺯﻳﺮﺍ۱۹۸۰ﻡ.
ﻧﮕﺎﻩ ﭘﺎﺋﻴﻦ ﻭ ﻧﺎﺳﺎﻟﻢ ﺭﻗﺎﺑﺖ ﺍﺯ ﺟﻠﻮﮔﻴﺮﻱ ﺩﻟﻴﻞ ﺑﻪ ﺍﻣﺮﻳﮑﺎ ﺩﻭﻟﺖﻫﺎﺑﺎﻧﮏ ﺑﻴﻦ ﺭﻗﺎﺑﺖ ،ﺑﻬﺮﻩ ﻧﺮﺥ ﺩﺍﺷﺘﻦ
ﺑﻮﺩ ﮐﺮﺩﻩ ﻣﺤﺪﻭﺩ ﺭﺍ.ﺍ ﺑﻪﺷﺪ ﺩﺍﺩﻩ ﺍﺟﺎﺯﻩ ﻫﺎﺑﺎﻧﮏ ﺑﻪ ﻃﻮﺭ ﻫﻤﻴﻦ ﻭ ﺷﺪ ﻓﺮﺍﻫﻢ ﺭﻗﺎﺑﺖ ﺍﻣﮑﺎﻥ ﺗﺮﺗﻴﺐ ﻳﻦ
ﮐﻨﻨﺪ ﺷﺮﮐﺖ ﺗﺮﻱﻣﺘﻨﻮﻉ ﻫﺎﻱﻓﻌﺎﻟﻴﺖ ﺩﺭ.ﻭﺟﻮﻩ ﺍﺩﺍﺭﻩ ﺩﺭ ﻫﺎﻣﺤﺪﻭﺩﻳﺖ ﺩﻳﮕﺮ ﻋﺒﺎﺭﺕ ﺑﻪ)ﭘﺮﺗﻔﻮﻱ
ﺑﺎﻧﮑﻬﺎ(ﺑﻴﺸﺘﺮﻱ ﺍﻧﻌﻄﺎﻑ ﺑﺎ ﺭﺍ ﺧﻮﺩ ﻣﻨﺎﺑﻊ ﺗﺮﮐﻴﺐ ﺗﻮﺍﻧﺴﺘﻨﺪﻣﻲ ﻫﺎﺑﺎﻧﮏ ﮐﻪ ﺑﻄﻮﺭﻱ ،ﻳﺎﻓﺖ ﮐﺎﻫﺶ ﻧﻴﺰ
ﺩﻫﻨﺪ ﺗﻐﻴﻴﺮ.ﺩ ﺳﻮﻱ ﺍﺯﻧﺮﺥ ﻭ ﺭﻓﺖ ﺑﻴﻦ ﺍﺯ ﻧﻴﺰ ﺑﻬﺮﻩ ﻫﺎﻱﻧﺮﺥ ﺳﻘﻒ ﺑﺎﻧﮑﻲ ﻧﻈﺎﻡ ﺁﺯﺍﺩﺳﺎﺯﻱ ﺍﺛﺮ ﺩﺭ ﻳﮕﺮ
ﮔﺮﺩﻳﺪ ﺗﻌﻴﻴﻦ ﺑﺎﺯﺍﺭ ﺗﻮﺳﻂ ﻣﺮﮐﺰﻱ ﺑﺎﻧﮏ ﺟﺎﻱ ﺑﻪ ﺑﻬﺮﻩ.ﺩﻫﻪ ﺩﺭ ﻧﻈﺎﺭﺕ ﻣﻴﺰﺍﻥ ﮐﺎﻫﺶ۸۰ﻣﻔﻬﻮﻡ ﺑﻪ
ﻓﺪﺭﺍﻝ ﺗﻮﺳﻂ ﮐﺸﻮﺭ ﺍﻳﻦ ﻫﺎﻱﺑﺎﻧﮏ ﺣﺎﺿﺮ ﺣﺎﻝ ﺩﺭ ﻭ ﻧﺒﻮﺩﻩ ﺁﻣﺮﻳﮑﺎ ﮐﺸﻮﺭ ﺩﺭ ﺁﻥ ﮐﻠﻲ ﺣﺬﻑ
ﻭ ،ﺭﺯﺭﻭ»ﻓﺪﺭﺍ ﺳﭙﺮﺩﻩ ﺑﻴﻤﻪ ﺷﺮﮐﺖﻝ«١
ﮔﺮﺩﻧﺪﻣﻲ ﮐﻨﺘﺮﻝ ﻭ ﻧﻈﺎﺭﺕ)ﺍﻣﺎﻣﻲ؛۱۳۷۰.(
ﻣﺘﺤﺪﻩ ﺍﻳﺎﻻﺕ ﺍﺯ ﺗﺒﻌﻴﺖ ﺑﻪ ﺍﺭﻭﮔﻮﺋﻪ ﻭ ﺷﻴﻠﻲ ،ﺁﺭﮊﺍﻧﺘﻴﻦ ﻧﻈﻴﺮ ﻻﺗﻴﻦ ﺁﻣﺮﻳﮑﺎﻱ ﻫﺎﻱﮐﺸﻮﺭ ﺍﺯ ﺑﺮﺧﻲ
)ﺩﻫﻪ ﺍﻭﺍﺧﺮ ﺩﺭ۷۰ﺩﻫﻪ ﺍﻭﺍﻳﻞ ﻭ۸۰ﻣﻴﻼﺩﻱ(ﻭ ﮐﺎﻣﻞ ﺑﺼﻮﺭﺗﻲ ﺭﺍ ﺑﻬﺮﻩ ﻫﺎﻱﻧﺮﺥ ﮐﻨﺘﺮﻝ ﺗﻨﻬﺎ ﻧﻪ
ﻧﻈﺎﻡ ﺑﺮ ﺩﻭﻟﺖ ﻧﻈﺎﺭﺕ ﺑﻠﮑﻪ ،ﮐﺮﺩﻧﺪ ﺣﺬﻑ ﻧﺎﮔﻬﺎﻧﻲﺑﻮﺩﻩ ﺍﻧﺤﺼﺎﺭﻱ ﺳﺎﺧﺘﺎﺭﻱ ﺩﺍﺭﺍﻱ ﮐﻪ ﺭﺍ ﺑﺎﻧﮑﻲ
ﻧﻤﻮﺩﻧﺪ ﻣﻌﺮﻓﻲ ﻧﻴﺰ ﺭﺍ ﻫﺎﺳﭙﺮﺩﻩ ﺑﻴﻤﻪ ﻃﺮﺡ ﻭ ﺩﺍﺩﻩ ﮐﺎﻫﺶ.ﺑﻪ ﻧﺴﺒﺖ ﺷﺮﺍﻳﻄﻲ ﺩﺭ ﺑﺤﺚ ﻣﻮﺭﺩ ﮐﺸﻮﺭ ﺳﻪ
ﻭ ﮔﺬﺍﺭﻱﺳﺮﻣﺎﻳﻪ ،ﺩﺍﺧﻠﻲ ﻧﺎﺧﺎﻟﺺ ﺗﻮﻟﻴﺪ ﺭﺷﺪ ﻫﺎﻱﻧﺮﺥ ﮐﻪ ﻧﻤﻮﺩﻧﺪ ﺍﻗﺪﺍﻡ ﻣﺬﮐﻮﺭ ﺍﺻﻼﺣﺎﺕ
ﺩﺍ ﻗﺮﺍﺭ ﺑﺎﻻ ﺳﻄﺤﻲ ﺩﺭ ﺗﻮﺭﻡ ﻧﺮﺥ ﻭ ﭘﺎﺋﻴﻦ ﺳﻄﺢ ﺩﺭ ﺍﻧﺪﺍﺯﭘﺲﺷﺖ.ﺳﺮﻳﻊ ﺍﻓﺰﺍﻳﺶ ﺑﻪ ﻣﻨﺠﺮ ﺍﻗﺪﺍﻡ ﺍﻳﻦ
ﮔﺮﺩﻳﺪ ﻫﺎﻭﺍﻡ ﻭ ﻫﺎﺳﭙﺮﺩﻩ ﺑﻬﺮﻩ ﻫﺎﻱﻧﺮﺥ.ﺍﻋﺘﺒﺎﺭﺗﺄﻣﻴﻦ ﺑﻮﺳﻴﻠﻪ ﺩﺍﺩ ﺍﺟﺎﺯﻩ ﻫﺎﺑﺎﻧﮏ ﺑﻪ ﻧﺎﮐﺎﻓﻲ ﻧﻈﺎﺭﺕ
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١ - Federal Deposit Insurance Corporation
14. ﺷﻤﺎره13ﺑﻬﺎر87 100
ﺷﺮﮐﺖ ﺑﺮﺍﻱﺑﺎﻻﺗﺮﻱ ﻫﺎﻱﺭﻳﺴﮏ ،ﻧﮕﺮﺩﻧﺪ ﺧﻮﺩ ﺩﻳﻮﻥ ﺑﺎﺯﭘﺮﺩﺍﺧﺖ ﺑﻪ ﻗﺎﺩﺭ ﺩﺍﺷﺖ ﺍﺣﺘﻤﺎﻝ ﮐﻪ ﻫﺎﻳﻲ
ﺑﭙﺬﻳﺮﻧﺪ ﺭﺍ.ﺑ ﮔﺬﺷﺘﻪ ﺳﺮﺭﺳﻴﺪ ﻫﺎﻱﻭﺍﻡ ﺭﺍﺑﻄﻪ ﺍﻳﻦ ﺩﺭﺑﺎ ﻫﺎﺑﺎﻧﮏ ﺍﺯ ﺑﺴﻴﺎﺭﻱ ﻭ ﺷﺪﻧﺪ ﺍﻳﺠﺎﺩ ﺳﺮﻋﺖ ﻪ
ﮔﺮﺩﻳﺪﻧﺪ ﺭﻭﺑﺮﻭ ﻭﺭﺷﮑﺴﺘﮕﻲ ﺧﻄﺮ.ﺩﻫﻪ ﺍﺑﺘﺪﺍﻱ ﺩﺭ ﺷﺪﻩ ﺫﮐﺮ ﺣﻮﺍﺩﺙ ﻣﺸﺎﺑﻪ۱۹۸۰ﻭ ﻓﻴﻠﻴﭙﻴﻦ ﺩﺭ
ﭘﻴﻮﺳﺖ ﺑﻮﻗﻮﻉ ﺗﺮﮐﻴﻪ.
ﺩﻫﻪ ﺗﺤﻮﻻﺕ ﺑﺮﺭﺳﻲ ﺍﺩﺍﻣﻪ۸۰ﺗﺄﮐﻴﺪ ﻋﻠﺖ ،ﺑﺎﻧﮑﻲ ﻫﺎﻱﺑﺤﺮﺍﻥ ﺁﻣﺪﻥ ﺑﻮﺟﻮﺩ ﻋﻠﻞ ﺯﻣﻴﻨﻪ ﺩﺭ ﻣﻴﻼﺩﻱ
ﺑﺎﻧﮏ ﺛﺒﺎﺕ ﺑﺮ ﮐﻨﻨﺪﻩ ﻧﻈﺎﺭﺕ ﻣﺆﺳﺴﺎﺕﻧﻤﺎﻳﻨﺪﻣﻲ ﺗﺮﺭﻭﺷﻦ ﺭﺍ ﻫﺎ.ﺳﺎﻝ ﺩﺭ ﻧﻔﺖ ﻗﻴﻤﺖ ﺟﻬﺎﻧﻲ ﮐﺎﻫﺶ
۱۹۸۶ﻡ.ﮔﺮﺩﻳﺪ ﺁﻣﺮﻳﮑﺎ ﻭ ﺍﺭﻭﭘﺎ ﻫﺎﻱﺑﺎﻧﮏ ﺍﺯ ﺑﺴﻴﺎﺭﻱ ﻭﺭﺷﮑﺴﺘﮕﻲ ﺳﺒﺐ.ﺍﺯ ﺑﺴﻴﺎﺭﻱ ﺯﻳﺮﺍ
ﺑﺎﻧﮏﺩﻫﻪ ﺩﺭ ﮐﻪ ﻫﺎﻳﻲ۱۹۷۰ﺗﻮﺳﻌﻪ ﺣﺎﻝ ﺩﺭ ﻫﺎﻱﮐﺸﻮﺭ ﺑﻪ ﺩﻻﺭ ﻫﺎﻣﻴﻠﻴﺎﺭﺩ)ﺯﻣﻴﻨﻪ ﺩﺭﺍﻧﺮﮊﻱ ﻫﺎﻱ(
ﻗﻴﻤﺖ ﺁﻣﺪﻥ ﭘﺎﺋﻴﻦ ﺩﻟﻴﻞ ﺑﻪ ،ﺑﻮﺩﻧﺪ ﺩﺍﺩﻩ ﻭﺍﻡﮔﺮﻓﺘﻨﺪ ﻗﺮﺍﺭ ﻭﺭﺷﮑﺴﺘﮕﻲ ﺁﺳﺘﺎﻧﻪ ﺩﺭ ﺁﻥ.ﺍﻳﻦ ﻟﺬﺍ
ﺩﺭ ﺑﺘﻮﺍﻧﻨﺪ ﮐﻪ ﺑﻄﻮﺭﻱ ﺑﻴﺎﺑﺪ ﺧﺎﺻﻲ ﺍﻫﻤﻴﺖ ﻫﺎﺑﺎﻧﮏ ﺳﺎﺧﺘﺎﺭ ﺩﺭ ﺛﺒﺎﺕ ﺿﺎﺑﻄﻪ ﮔﺮﺩﻳﺪ ﺳﺒﺐ ﺗﺤﻮﻻﺕ
ﺿﺮﺑﻪ ﺑﺮﺍﺑﺮﺑﺎﺷﻨﺪ ﺩﺍﺷﺘﻪ ﻣﻘﺎﻭﻣﺖ ﺗﺎﺏ ﺧﺎﺭﺟﻲ ﻭ ﺩﺍﺧﻠﻲ ﻋﻮﺍﻣﻞ ﺍﺯ ﻧﺎﺷﻲ ﻫﺎﻱ.
۶-ﺑﻴﻦ ﻧﻮﻳﻦ ﻫﺎﻱﺍﺳﺘﺎﻧﺪﺍﺭﺩﺑﺎﻧﮑﻲ ﺳﻴﺴﺘﻢ ﺑﺮ ﻧﻈﺎﺭﺕ ﺩﺭ ﺍﻟﻤﻠﻠﻲ
ﺿﻌﻣﻲ ﺗﻮﺳﻌﻪ ﺣﺎﻝ ﺩﺭ ﻭ ﻳﺎﻓﺘﻪ ﺗﻮﺳﻌﻪ ﻫﺎﻱﮐﺸﻮﺭ ﺩﺭ ﺑﺎﻧﮑﻲ ﺳﻴﺴﺘﻢ ﻫﺎﻱﻒﻭ ﺩﺍﺧﻠﻲ ﺛﺒﺎﺕ ﺑﺮﺍﻱ ﺗﻮﺍﻧﺪ
ﺑﺎﺷﺪ ﺧﻄﺮﺁﻓﺮﻳﻦ ﺍﻟﻤﻠﻠﻲﺑﻴﻦ.ﺣﺎﺋﺰ ﻣﻮﺍﺭﺩ ﺍﺯ ﺟﻬﺎﻧﻲ ﻣﺎﻟﻲ ﻫﺎﻱﻧﻈﺎﻡ ﺗﻘﻮﻳﺖ ﻭ ﺍﺻﻼﺡ ﺑﻪ ﺗﻮﺟﻪ ﻟﺬﺍ
ﺑﺎﺷﺪﻣﻲ ﺍﻫﻤﻴﺖ.ﺻﻨﺪ ،ﺍﻟﻤﻠﻠﻲﺑﻴﻦ ﺗﺴﻮﻳﻪ ﺑﺎﻧﮏ ،ﺑﺎﻝ ﮐﻤﻴﺘﻪ ﻗﺒﻴﻞ ﺍﺯ ﺭﺳﻤﻲ ﻫﺎﻱﺳﺎﺯﻣﺎﻥ ﺍﺯ ﺑﺮﺧﻲﻭﻕ
ﺟﻬﺎﻧﻲ ﺑﺎﻧﮏ ﻭ ﭘﻮﻝ ﺍﻟﻤﻠﻠﻲﺑﻴﻦ،ﺭﺍﻩﺍﻧﺪﮐﺮﺩﻩ ﺑﺮﺭﺳﻲ ﺭﺍ ﺟﻬﺎﻥ ﻣﺎﻟﻲ ﺛﺒﺎﺕ ﺗﻘﻮﻳﺖ ﻫﺎﻱ.ﺩﺭ ﺑﺎﻝ ﮐﻤﻴﺘﻪ
ﻣﻲ ﺍﻗﺪﺍﻡ ﺟﻬﺎﻥ ﺳﺮﺍﺳﺮ ﺩﺭ ﻧﻈﺎﺭﺗﻲ ﻫﺎﻱﻣﻘﺎﻡ ﺑﺎ ﺗﻤﺎﺱ ﻃﺮﻳﻖ ﺍﺯ ﹰﺎﺭﺃﺳ ﺯﻣﻴﻨﻪ ﺍﻳﻦﮐﻨﺪ.ﻫﺎﻱﺳﺎﻝ ﺩﺭ
ﻓﻌﺎﻟﻴﺖ ﺑﺎﻝ ﮐﻤﻴﺘﻪ ،ﺩﻩ ﮔﺮﻭﻩ ﺍﺯ ﻏﻴﺮ ﻫﺎﻱﮐﺸﻮﺭ ﺑﺎ ﺭﻭﺍﺑﻂ ﺑﺮﻗﺮﺍﺭﻱ ﻣﻨﻈﻮﺭ ﺑﻪ ،ﺍﻭﻟﻴﻪﺗﻘﻮﻳﺖ ﺑﻪ ﺭﺍ ﺧﻮﺩ
ﮐﺮﺩ ﻣﻌﻄﻮﻑ ﻫﺎﮐﺸﻮﺭ ﮐﻠﻴﻪ ﺩﺭ ﺍﺣﺘﻴﺎﻃﻲ ﻧﻈﺎﺭﺕ ﺍﺳﺘﺤﮑﺎﻡ ﻭ.ﮐﻤﻴﺘﻪ ﺍﻭﻟﻴﻪ ﺍﻗﺪﺍﻣﺎﺕ ﮐﻪ ﺍﺳﺖ ﮔﻔﺘﻨﻲ
ﺳﻨﺪ ﺩﻭ ﻣﻮﺭﺩ ﺍﻳﻦ ﺩﺭ ﻭ ﺍﺳﺖ ﺑﻮﺩﻩ ﻋﻀﻮ ﻫﺎﻱﮐﺸﻮﺭ ﺩﺭ ﻧﻈﺎﺭﺗﻲ ﺍﺻﻮﻝ ﺍﺳﺘﻘﺮﺍﺭ ﺑﺮ ﻧﺎﻇﺮ ﻣﺰﺑﻮﺭ»۱-
ﺑﺎﻧﮑﻲ ﻣﺆﺛﺮ ﻧﻈﺎﺭﺕ ﺑﺮﺍﻱ ﺟﺎﻣﻌﻲ ﻣﺠﻤﻮﻋﻪ)ﺑﺎﻝ ﮐﻤﻴﺘﻪ ﻣﺤﻮﺭﻱ ﺍﺻﻮﻝ(ﻭ۲-ﺩﺳﺘ ﺧﻼﺻﻪ،ﻫﺎﺍﻟﻌﻤﻞﻮﺭ
ﺍﺳﺘﺎﻧﺪﺍﺭﺩﻫﺎ ﻭ ﻫﺎﺗﻮﺻﻴﻪ«ﻣﻲ ﻣﻨﺘﺸﺮ ﺭﺍﮐﻨﺪ) .،ﺑﺎﻝ ﻛﻤﻴﺘﻪ ﺑﻴﺎﻧﻴﻪ۲۰۰۲(
ﺑﺮ ﻣﺸﺘﻤﻞ ﻧﻈﺎﺭﺕ ﻣﺤﻮﺭﻱ ﺍﺻﻮﻝ۲۵ﺿﺮﻭﺭﻱ ﺑﺎﻧﮑﻲ ﻣﺆﺛﺮ ﻧﻈﺎﺭﺕ ﺑﺮﺍﻱ ﮐﻪ ﺍﺳﺖ ﺍﺳﺎﺳﻲ ﺍﺻﻞ
ﺍﺯ ﻋﺒﺎﺭﺗﻨﺪ ﺍﺻﻮﻝ ﺍﻳﻦ ﺍﺳﺖ:ﻣﺆﺛﺮ ﻧﻈﺎﺭﺕ ﺷﺮﻁ ﭘﻴﺶ)ﺍﺻﻞ۱(ﺳﺎﺧﺘﺎﺭ ﻭ ﻣﺠﻮﺯ ﺻﺪﻭﺭ ،)ﺍﺻﻮﻝ۲ﺗﺎ
۵(ﻭ ﺍﺣﺘﻴﺎﻃﻲ ﻣﻘﺮﺭﺍﺕﺍﻟﺰﺍﻣﺎﺕ)ﺍﺻﻮﻝ۶ﺗﺎ۱۵(ﻧﻈﺎﺭﺕ ﻫﺎﻱ ﺭﻭﺵ ،)ﺍﺻﻮﻝ۱۶ﺗﺎ۲۰(ﺍﻟﺰﺍﻣﺎﺕ ،
ﺍﻃﻼﻋﺎﺗﻲ)ﺍﺻﻞ۲۱(ﻧﺎﻇﺮﺍﻥ ﺭﺳﻤﻲ ﺍﺧﺘﻴﺎﺭﺍﺕ ،)ﺍﺻﻞ۲۲(ﻣﺮﺯﻱ ﺑﺪﻭﻥ ﺑﺎﻧﮑﺪﺍﺭﻱ ،)ﺍﺻﻮﻝ۲۳ﺗﺎ۲۵(
15. ﻧﺑﺎﻧﮑﯽ ﺳﯿﺴﺘﻢ در ﻈﺎرت101
ﺍﺳﺖ ﺷﺪﻩ ﺑﻴﺎﻥ ﺍﺻﻮﻝ ﺍﻳﻦ ﺗﺮﺗﻴﺐ ﺑﻪ ﻛﻤﻴﺘﻪ ﺑﻴﺎﻧﻴﻪ ﺩﺭ ﻛﻪ.
ﻧﺘﻴﺠﻪ
ﺑﺎﻧﻜ ﺳﻴﺴﺘﻢ ﺩﺭ ﻧﻈﺎﺭﺕ ﻣﺨﺘﻠﻒ ﺍﺑﻌﺎﺩ ﺑﺮﺭﺳﻲ ﺑﻪ ﺗﻮﺟﻪ ﺑﺎﻭ ﺍﻫﻤﻴﺖ ﺑﻪ ﺗﻮﺟﻪ ﺑﺎ ﺗﺎ ﺍﺳﺖ ﺿﺮﻭﺭﻱ ﻲ
ﺍﺻﻼﺡ ﻫﻤﭽﻮﻥ ﻋﻤﻮﻣﻲ ﻫﺎﻱﺯﻳﺮﺳﺎﺧﺖ ﻭ ﺍﻳﺠﺎﺩ ﺯﻣﻴﻨﻪ ﺍﻳﻦ ﺩﺭ ﻻﺯﻡ ﻫﺎﻱﺷﺮﻁﭘﻴﺶ ﻣﺴﺌﻠﻪ ﺿﺮﻭﺭﺕ
ﺣﺮ ﻭ ﺍﺧﻼﻗﻲ ﺍﺻﻮﻝ ﺭﻋﺎﻳﺖ ،ﻣﺎﻟﻲ ﻫﺎﻱﺑﺎﺯﺍﺭ ﺗﻮﺳﻌﻪ ،ﺗﺠﺎﺭﻱ ﻗﻮﺍﻧﻴﻦﻓﻪﻭ ﺍﻱ...ﻳﺎﺑﺪ ﺗﻮﺳﻌﻪ.ﺳﻮﻱ ﺍﺯ
ﭘﻴﭽﻴﺪﮔﻲ ﺑﺎ ﺣﺎﺿﺮ ﺣﺎﻝ ﺩﺭ ﺑﺎﻧﻜﺪﺍﺭﻱ ﺩﻳﮕﺮ،ﺍﺑﺰﺍﺭﻫﺎ ﺩﺭ ﻫﺎﻳﻲﻣﺎﻟﻲ ﻣﺆﺳﺴﺎﺕ ﺳﺎﺧﺘﺎﺭ ﻭ ﻋﻤﻠﻴﺎﺕ ﻧﻮﻉ
ﺍﺳﺖ ﻣﻮﺍﺟﻪ.ﺁﺷﻨﺎﻳﻲ ﻣﻮﺍﺭﺩ ﺍﻳﻦ ﺑﻪ ﺗﻔﺼﻴﻞ ﺑﻪ ﻧﺎﻇﺮﺍﻥ ﻛﻪ ﺩﺍﺷﺖ ﺍﻧﺘﻈﺎﺭ ﺗﻮﺍﻥﻧﻤﻲ ﻫﺎﻭﻳﮋﮔﻲ ﺍﻳﻦ ﺑﺎ
ﺟﺰﺋﻴﺎﺕ ﺑﺮ ﻧﻈﺎﺭﺕ ﹰﻻﺍﺻﻮ ،ﺑﺎﺷﻨﺪ ﺩﺍﺷﺘﻪ،ﺍﺳﺖ ﺑﺎﻧﻚ ﺍﻣﻮﺭ ﺩﺭ ﺩﺧﺎﻟﺖ ﻧﻮﻋﻲ.ﻣﻲ ﺣﻜﻢ ﻣﻨﻄﻖﻛﻪ ﻛﻨﺪ
ﺑﺎﻧﻚ ﻧﺎﺣﻴﻪ ﺍﺯ ﺍﻃﻼﻋﺎﺕ ﺁﺷﻜﺎﺭﺳﺎﺯﻱ ﺑﺎﺳﺮﻣﺎﻳﻪ ﺍﻳﻦ ،ﻫﺎﺩﺭ ﻛﻪ ﺑﺎﺷﻨﺪ ﻛﻨﻨﺪﮔﺎﻥﻣﺸﺎﺭﻛﺖ ﻭ ﮔﺬﺍﺭﺍﻥ
ﻛﻨﻨﺪ ﮔﻴﺮﻱﺗﺼﻤﻴﻢ ﺑﺎﻧﻚ ﻭﺿﻌﻴﺖ ﻣﻮﺭﺩ.
،ﺑﺎﻧﻚ ﺟﺰﺋﻴﺎﺕ ﺑﻪ ﻭﺭﻭﺩ ﻳﻌﻨﻲ ﺧﺮﺩ ﻧﻈﺎﺭﺕ ،ﻣﺎﻟﻲ ﺑﺎﺯﺍﺭ ﻫﺎﻱﭘﻴﭽﻴﺪﮔﻲ ﺑﻪ ﺗﻮﺟﻪ ﺑﺎ ﺣﺎﺿﺮ ﺣﺎﻝ ﺩﺭ
ﻧﻴﺴﺖ ﻛﺎﺭﺁﻣﺪ ﻭ ﻣﺆﺛﺮ.ﻧﺎﻇﺮﺍﻥ ﻧﻘﺶ،ﺍﺳﺖ ﺭﻳﺴﻚ ﻣﺪﻳﺮﻳﺖ ﺩﺭ ﺑﺎﻧﻚ ﻫﺪﺍﻳﺖ ﻭ ﻣﻨﺎﺳﺐ ﺑﺴﺘﺮ ﺍﻳﺠﺎﺩ.
ﻣﻨﻌﻄﻒ ﻧﻈﺎﺭﺕ ﻭﺍﻗﻊ ﺩﺭﺗﻄﺒﻴﻖ ﺑﻪ ﻧﺎﻇﺮ ﻭﺟﻪ ﻫﻴﭻ ﺑﻪ ،ﺍﺳﺖ ﺭﻳﺴﻚ ﻣﺪﻳﺮﻳﺖ ﻛﻨﺘﺮﻝ ﺑﺮ ﻧﻈﺎﺭﺕ ﺷﺎﻣﻞ
ﻛﺎﺭﻛﺮﺩ ﺍﺯ ﺍﻃﻤﻴﻨﺎﻥ ﺣﺼﻮﻝ ﺑﻠﻜﻪ ﻧﻴﺴﺖ ﻣﻘﺮﺭﺍﺕ ﻭ ﻗﻮﺍﻧﻴﻦ ﺍﺟﺮﺍﻱ ﻧﺤﻮﻩ ﺟﺰﺀ ﺑﻪ ﺟﺰﺀ ﺍﻧﻄﺒﺎﻕ ﻭ
ﺍﺳﺖ ﺑﺎﻧﻜﻲ ﻧﻈﺎﻡ ﺩﺭﺳﺖ.
ﺣﺼﺎﺭ ﺩﺭ ﻣﺎﻧﺪﻥ ﺑﺮ ﻋﻼﻭﻩ ﻧﻈﺎﺭﺕ ﺑﺤﺚ ﺩﺭ ﻣﻮﺟﻮﺩ ﻣﺸﻜﻼﺕ ﺍﺯ ﺑﺨﺸﻲ ﻛﻪ ﺍﺳﺖ ﺫﻛﺮ ﺑﻪ ﻻﺯﻡ
ﻭ ﭘﻴﭽﻴﺪﻩ ﻗﻮﺍﻧﻴﻦﺗﻔﻜﺮ ﺭﺳﻮﺏ ،ﻣﻮﺟﻮﺩ ﻭﺿﻊ ﺍﺻﻼﺡ ﺑﺮﺍﻱ ﺟﺪﻱ ﻋﺰﻣﻲ ﻋﺪﻡﺑﺨﺶ ﺩﺭ ﺳﻨﺘﻲ
ﺁﻥ ﺑﻪ ﻣﺮﺑﻮﻁ ﺟﺰﺋﻴﺎﺕ ﺑﻪ ﻭﺭﻭﺩ ﻭ ﺷﻌﺒﻪ ﺑﺎﺯﺭﺳﻲ ﺑﻪ ﻣﻨﺤﺼﺮ ﺭﺍ ﻧﻈﺎﺭﺕ ﻛﻪ ﺗﻔﻜﺮﻱ ،ﺍﺳﺖ ﻧﻈﺎﺭﺕ
ﻣﻲﺩﺍﻧﺪ.
ﺳﻠﻴﻘﻪ ،ﻣﺎﻟﻲ ﺑﺨﺶ ﺩﺭ ﺗﻮﺍﻥﻧﻤﻲ ﺍﻳﻨﻜﻪ ﺗﻮﺟﻪ ﻗﺎﺑﻞ ﻧﻜﺘﻪﻧﻤﻮﺩ ﺣﺮﻛﺖ ﻫﺎﻧﺎﻣﻪﺁﻳﻴﻦ ﺍﺳﺘﻨﺎﺩ ﺑﻪ ﺗﻨﻬﺎ ﻳﺎ ﺍﻱ.
ﺑﻪ ﻭ ﻣﺎﻟﻲ ﻧﻈﺎﻡﺧﺎﺭﻕ ﺭﺷﺪ ﻭ ﺗﻜﻨﻮﻟﻮﮊﻱ ﻫﺎﻱﭘﻴﺸﺮﻓﺖ ﺳﺒﺐ ﺑﻪ ﺑﺎﻧﻜﺪﺍﺭﻱ ﺻﻨﻌﺖ ﺁﻥ ﺗﺒﻊﺍﻟﻌﺎﺩﻩ
ﻫﺎﻱﻣﻌﻴﺎﺭ ﻭ ﻫﺎﺍﺳﺘﺎﻧﺪﺍﺭﺩ ﺑﻪ ،ﻣﺎﻟﻲ ﻫﺎﻱﺍﺑﺰﺍﺭ ﺍﻳﺠﺎﺩ ﻭ ﺧﻠﻖ ،ﺍﺭﺗﺒﺎﻃﻲ ﻫﺎﻱﺷﺒﻜﻪ ﺳﺎﺯﻱﺫﺧﻴﺮﻩ ﻇﺮﻓﻴﺖ
ﺍﺳﺖ ﻣﺘﻜﻲ ﺍﻟﻤﻠﻠﻲﺑﻴﻦ ﺷﺪﻩ ﭘﺬﻳﺮﻓﺘﻪ.
16. ﺷﻤﺎره13ﺑﻬﺎر87 102
ﻣﻨﺎﺑﻊ
-ﺍﺭﺳﻄﻮ ،ﺍﻣﺎﻣﻲ)١٣٧٠(،ﺩﻧﻴﺎ ﺑﺎﻧﮑﻲ ﺳﻴﺴﺘﻢ ﺗﺤﻮﻻﺕ ﺭﻭﻧﺪ ﺑﺮﺭﺳﻲ،)ﺩﻭﻣﻴﻦ ﺑﻪ ﺷﺪﻩ ﺍﺭﺍﺋﻪ
ﺍﺭﺯﻱ ﻭ ﭘﻮﻟﻲ ﻫﺎﻱﺳﻴﺎﺳﺖ ﺳﻤﻴﻨﺎﺭ(ﺗﻬﺮﺍﻥ ،:ﺑﺎﻧﮑﻲ ﻭ ﭘﻮﻟﻲ ﺗﺤﻘﻴﻘﺎﺕ ﻣﺆﺳﺴﻪ.
-ﺭﺍﻭﻱ ،ﺑﺘﺮﺍ)١٣٦٩(،ﺩﻫﻪ ﺑﺰﺭﮒ ﺑﺤﺮﺍﻥ۱۹۹۰،ﻗﻄﺐ ﺍﷲ ﻋﻨﺎﻳﺖ ﻭ ﮔﻞ ﺳﻨﺪ ﺭﺿﺎ ﺗﺮﺟﻤﻪ ،
ﺩﻭﻡ ﭼﺎﭖ ،ﺭﺳﺎ ﻓﺮﻫﻨﮕﻲ ﺧﺪﻣﺎﺕ ﻣﺆﺳﺴﻪ.
-ﺟﺰﺍﻳﺮﻱ،ﻣﻴﻨﺎ)١٣٨٥(،ﺑﺎ ﮐﻤﻴﺘﻪ ﻧﻈﺎﺭﺗﻲ ﺍﺻﻮﻝ ﺑﺮﺧﻲ ﻣﺎﻫﻴﺖ ﺑﺮﺭﺳﻲﺍﻧﻄﺒﺎﻕ ﻭ ﻝ
ﺍﻳﺮﺍﻥ ﻗﻮﺍﻧﻴﻦ ﺑﺎ ﺁﻥﺍﺳﻼﻣﻲ ﺑﺎﻧﮑﺪﺍﺭﻱ ﻫﻤﺎﻳﺶ ﻫﻔﺪﻫﻤﻴﻦ ،.
-ﺁﻧﺘﻮﻧﻲ ،ﺳﻤﺴﻮﻥ)١٣٦٦(،ﺭﺑﺎﺧﻮﺍﺭﺍﻥ)ﺧﻄﺮ ﺟﻬﺎﻧﻲ ﺩﺭ ﺑﺎﻧﮑﺪﺍﺭﺍﻥ ﺳﺮﮔﺬﺷﺖ
ﺧﻴﺰ(،ﻗﺮﻳﺐ ﻣﺼﻄﻔﻲ ﺗﺮﺟﻤﻪﺗﻬﺮﺍﻥ ،:ﭼﺎﭘﺨﺶ ﻧﺸﺮ.
-ﺣﺴﻴﻦ ﻣﺤﻤﺪ ﺳﻴﺪ ،ﻋﺎﺩﻟﻲ)١٣٧٠(،ﻣﺮﮐﺰﻱ ﺑﺎﻧﮏ ﺍﺳﺘﻘﻼﻝ ﺑﺮ ﺩﺭﺁﻣﺪﻱﺗﻬﺮﺍﻥ ،:
ﻭ ﭘﻮﻟﻲ ﺗﺤﻘﻴﻘﺎﺕ ﻣﺆﺳﺴﻪﺑﺎﻧﮑﻲ.
-ﺑﺎﻗﺮ ،ﺍﺻﻠﻲ ﻗﺪﻳﺮﻱ)١٣٦٤(،ﭘﻮﻟﻲ ﻫﺎﻱﺳﻴﺎﺳﺖﺍﺣﻤﺪﻱ ﭼﺎﭘﺨﺎﻧﻪ ،.
-ﺣﺴﻦ ،ﮔﻠﺮﻳﺰ ﻭ ﻋﻠﻲ ،ﻣﺎﺟﺪﻱ)١٣٦٧(،ﺳﻴﺎﺳﺘﮕﺬﺍﺭﻱ ﺗﺎ ﻧﻈﺮﻳﻪ ﺍﺯ ﺑﺎﻧﮏ ﻭ ﭘﻮﻝﺗﻬﺮﺍﻥ ،:
ﻣﺮﮐﺰﻱ ﺑﺎﻧﮏ ،ﺍﻳﺮﺍﻥ ﺑﺎﻧﮑﺪﺍﺭﻱ ﻣﺆﺳﺴﻪﺍﻳﺮﺍﻥ ﺍﺳﻼﻣﻲ ﺟﻤﻬﻮﺭﻱ.
-ﺣﺴﻴﻦ ﺳﻴﺪ ،ﺁﺑﺎﺩﻱ ﻧﺠﻢ ﻣﻬﺪﻭﻱ)١٣٧٢(،ﺑ ﻭ ﻣﺮﮐﺰﻱ ﺑﺎﻧﮑﺪﺍﺭﻱ ﺩﺭ ﻧﻈﺎﺭﺕﺮﺭﺳﻲ
ﺍﻳﺮﺍﻥ ﺩﺭ ﺍﺳﻼﻣﻲ ﺑﺎﻧﮑﺪﺍﺭﻱ ﺩﺭ ﺁﻥ ﺳﺎﻟﻪ ﺩﻩ ﻋﻤﻠﮑﺮﺩ،)ﭼﻬﺎﺭﻣﻴﻦ ﺩﺭ ﺷﺪﻩ ﺍﺭﺍﺋﻪ
ﺍﺳﻼﻣﻲ ﺑﺎﻧﮑﺪﺍﺭﻱ ﺳﻤﻴﻨﺎﺭ(ﺗﻬﺮﺍﻥ:ﺟ ﻣﺮﮐﺰﻱ ﺑﺎﻧﮏﺍﻳﺮﺍﻥ ﺍﺳﻼﻣﻲ ﻤﻬﻮﺭﻱ
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(1992), Risk Weights by Category of on Balance Sheet Assets
Basle, Switzerland.
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after the Second Worsdwar, Banking Act of the Federal
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17. ﻧﺑﺎﻧﮑﯽ ﺳﯿﺴﺘﻢ در ﻈﺎرت103
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Gudlines, (G1), SEAZA Lecture, Bank of Japan.
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