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尽管“太大不能倒”会滋生道德风险并催生寡头垄断,但抗击“太大不能倒”困难重重。2010年德国《信贷机构重整与有序清算法》的一系列制度安排使破解“太大不能倒”的问题成为可能。本文详细介绍并评析了该部法律,并指出该法的创新之处在于:“自愿性重整程序”提供“早期危机治理”制度根除道德风险;通过业务拆分方式以“转让令”化解寡头垄断的隐患;以及“政府干预”回归“市场调控”使破解“太大不能倒”成为可能。
Although “too much to pour ” will breed moral hazard and give birth to oligopoly, but fighting “too much to pour ” difficult. A series of institutional arrangements in Germany’s “Law on the Reorganization and Orderly Clearing of Credit Institutions” in 2010 made it possible to crack “too big to fail”. This article introduces and reviews the law in detail and points out that the innovation of this law lies in: “Voluntary reorganization procedure” provides “early crisis governance ” system to eradicate moral hazard; Transfer order “to resolve the hidden dangers of oligopoly; and ” government intervention “return ” market regulation “to make cracking ” too big to pour "possible.