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restraint mechanisms, especially with good corporate governance structure. These institutional advantages make foreign commercial banks with higher risk control and management capabilities.

" Basel II " third pillar " market discipline " is the use of market risk supervision of banks role in promoting , the method is to improve an information disclosure system , allowing market participants to get on the bank's risk profile and capital levels of information . China's " Interim Measures on Information Disclosure of Commercial Banks " provides a range of information disclosure of commercial banks , including financial and accounting reports , various risk management, corporate governance, major annual events and other information. Article 28 stipulates that the disclosure of information is not provided in real or concealing important facts, financial accounting reports by commercial banks and the persons responsible , according to " financial penalties for illegal methods" to be punished. March 1999 the State Council promulgated the " financial penalties for illegal measures" Article XII , the financial institution may not provide false or conceal important facts financial accounting reports, statistical reports. Financial institutions to provide false or conceal important facts, financial and accounting reports , statistical reports , given a warning and imposed 100,000 yuan to 500,000 yuan fine ; directly responsible for the financial institution 's senior management removal from office until the disciplinary dismissal on the other directly responsible person in charge and directly responsible to disciplinary action up to expulsion demerits ; circumstances are serious, shall be ordered to suspend business for rectification of the financial institution or financial business license revoked ; case constitutes a crime or any other crime report be held criminally responsible . These terms do not comply with the disclosure of financial reports and criminal punishments given expressly provided , but for providing false or conceal important facts various risk management , internal control, major annual events and other information relevant personnel of punishment, on the lack of legal basis and the relevant provisions of the . The legal status of implementation of the law will lead to results less than ideal results, so the use of " Basel II " third pillar of market constraints on the implementation of regulatory risk is also not able to play its role.

First, in the form of legislation refer to " Basel Core Principles assessment method " in the " necessary standards " and " additional criteria " combined approach , make every effort to complete all kinds of situations can be adapted to a dynamic legal and regulatory framework of banking supervision . " Necessary standards " is to determine whether a competent national banking supervision must have a minimum standard , " additional criteria " is valid for the various elements of strengthening supervision , improving banking supervision is national targets for action . Such legislation can achieve continuous dynamic adjustment , and can be more coherent and completely reflect the constantly changing market realities and regulatory status of regulatory standards without causing instability, legal and regulatory framework of this regulation radically r