Abstract: In this paper, using the method of literature and comparative analysis, through reading regulatory documents issued by Financial Stability Board and Basel Committee or other institutions on supervision of Systemically Important Financial Institutions, I sum up the current assessment methods and regulatory policies of Global Systemically Important Financial Institutions. At the same time, looking at the financial regulatory reform measures and the design of Systemically Important Financial Institutions supervision system of United States, Britain, Australia and the Netherlands after the subprime crisis in 2008 and taking the progress of China's current Systemically Important Financial Institutions supervision system and the situation of financial regulation into consideration, it is concluded that China should change the existing regulatory model and take " central bank & micro-prudential regulator & financial regulatory authority" regulatory model.

Key words: systemic risk, macro prudential supervision, systemically important, financial reform