Putting the 'Financial Stability' in Financial Stability Oversight Council PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Putting the 'Financial Stability' in Financial Stability Oversight Council PDF full book. Access full book title Putting the 'Financial Stability' in Financial Stability Oversight Council by Hilary J. Allen. Download full books in PDF and EPUB format.
Author: Hilary J. Allen
Publisher:
ISBN:
Category :
Languages : en
Pages : 67
Get Book Here
Book Description
For all the ink that has been spilled on the topic of financial regulation since the financial crisis of 2007-2008, there has been little examination of the competing normative goals of financial regulation. Should the financial system be treated as an end in itself, such that the efficiency of that system is the primary goal? Or should financial regulation instead treat the financial system as a means to the end of broader economic growth? This Article argues for the latter approach, and stakes out the controversial normative position that financial stability, rather than efficiency, should be the paramount focus of financial regulation. Having fixed upon this normative foundation, this Article is in a position to evaluate Dodd-Frank's creation of the Financial Stability Oversight Council (“FSOC”), a body intended to bring the United States' financial regulators together for the purpose of identifying and responding to threats to financial stability. This Article argues that there are significant flaws in the FSOC's structure and mandate that will limit its ability to discharge this vital task. Whilst the FSOC is currently the subject of legislative reform proposals, these proposals seek to hobble the FSOC's powers - this Article argues that reform should instead swing in the other direction. What is needed is an effective and independent regulator with the resources and mandate to take a proactive, long-term and creative approach to the promotion of financial stability. This Article therefore explores potential reforms to the United States financial regulatory architecture - ranging from the incremental to the more drastic - designed to improve commitment to financial stability.
Author: Hilary J. Allen
Publisher:
ISBN:
Category :
Languages : en
Pages : 67
Get Book Here
Book Description
For all the ink that has been spilled on the topic of financial regulation since the financial crisis of 2007-2008, there has been little examination of the competing normative goals of financial regulation. Should the financial system be treated as an end in itself, such that the efficiency of that system is the primary goal? Or should financial regulation instead treat the financial system as a means to the end of broader economic growth? This Article argues for the latter approach, and stakes out the controversial normative position that financial stability, rather than efficiency, should be the paramount focus of financial regulation. Having fixed upon this normative foundation, this Article is in a position to evaluate Dodd-Frank's creation of the Financial Stability Oversight Council (“FSOC”), a body intended to bring the United States' financial regulators together for the purpose of identifying and responding to threats to financial stability. This Article argues that there are significant flaws in the FSOC's structure and mandate that will limit its ability to discharge this vital task. Whilst the FSOC is currently the subject of legislative reform proposals, these proposals seek to hobble the FSOC's powers - this Article argues that reform should instead swing in the other direction. What is needed is an effective and independent regulator with the resources and mandate to take a proactive, long-term and creative approach to the promotion of financial stability. This Article therefore explores potential reforms to the United States financial regulatory architecture - ranging from the incremental to the more drastic - designed to improve commitment to financial stability.
Author: Brian Robinson
Publisher: Nova Science Publishers
ISBN: 9781620811481
Category : Finance
Languages : en
Pages : 0
Get Book Here
Book Description
The Financial Stability Oversight Council (FSOC) was created by the Dodd-Frank Act(DFA) in 2010 as part of a comprehensive reform of banking and securities market regulators. The council is charged with monitoring systemic risk in the financial system and coordinating several federal financial regulators. The FSOC is expected to facilitate communication among existing financial regulators intending to identify sources of financial instability that cross agency regulatory jurisdiction, or that reside in gaps in the financial regulatory framework. This book describes the mission, membership, and scope of the FSOC with its focus on establishing a framework for mitigating systemic risk.
Author: Nolan S. Compton
Publisher:
ISBN: 9781624172182
Category : Business & Economics
Languages : en
Pages : 120
Get Book Here
Book Description
The 2007-2009 financial crisis focused attention on weaknesses in the U.S. regulatory structure, including the lack of an agency or mechanism responsible for monitoring and addressing risks across the financial system and a shortage of timely information to facilitate that oversight. In response to the crisis, Congress passed the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) in July 2010, which provided a broad range of regulatory reforms. Among many other things, the act established the Financial Stability Oversight Council (FSOC) to monitor the stability of the U.S. financial system and take actions to mitigate risks that might destabilize the system. This book provides an overview of elements and assessments of the Financial Stability Oversight Council and Office of Financial Research with a focus on Frequently Asked Questions.
Author: Nolan S. Compton
Publisher:
ISBN: 9781624172175
Category : Economic stabilization
Languages : en
Pages : 0
Get Book Here
Book Description
The 2007-2009 financial crisis focused attention on weaknesses in the U.S. regulatory structure, including the lack of an agency or mechanism responsible for monitoring and addressing risks across the financial system and a shortage of timely information to facilitate that oversight. In response to the crisis, Congress passed the Dodd-Frank Wall Street Reform and Consumer Protection Act. Among many other things, the act established the Financial Stability Oversight Council to monitor the stability of the U.S. financial system and take actions to mitigate risks that might destabilize the system. This book provides an overview of elements and assessments of the council.
Author: Financial Stability Oversight Council
Publisher: CreateSpace
ISBN: 9781512068689
Category :
Languages : en
Pages : 144
Get Book Here
Book Description
Financial Stability Oversight Council 2014 Annual Report
Author: Melanie L. Fein
Publisher:
ISBN:
Category :
Languages : en
Pages : 83
Get Book Here
Book Description
This paper examines the Financial Stability Oversight Council's proposals for money market fund reform. It finds the proposals flawed by the lack of empirical support for the underlying premise that MMFs are susceptible to runs such that drastic changes are needed in their structure. Similarly, it finds empirical support lacking for the Council's proposed determination that MMFs spread systemic risk. The paper shows that “systemic risk” and “financial stability” are developing concepts not completely understood by either regulators or academic economists. It suggests that regulators should wait for the results of ongoing research before proceeding with MMF changes in the name of “systemic risk” when such changes could harm investors, damage the short-term credit markets, and have other unintended consequences for financial stability. Also, this paper argues that the Council cannot meaningfully consider the role of MMFs in the financial system until the role of banking organizations is clarified through reforms that remain as yet unimplemented.
Author: The Law The Law Library
Publisher: Createspace Independent Publishing Platform
ISBN: 9781729565193
Category :
Languages : en
Pages : 62
Get Book Here
Book Description
Authority to Require Supervision and Regulation of Certain Nonbank Financial Companies (US Financial Stability Oversight Council Regulation) (FSOC) (2018 Edition) The Law Library presents the complete text of the Authority to Require Supervision and Regulation of Certain Nonbank Financial Companies (US Financial Stability Oversight Council Regulation) (FSOC) (2018 Edition). Updated as of May 29, 2018 Section 113 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the "Dodd-Frank Act") authorizes the Financial Stability Oversight Council (the "Council") to determine that a nonbank financial company shall be supervised by the Board of Governors of the Federal Reserve System (the "Board of Governors") and shall be subject to prudential standards, in accordance with Title I of the Dodd-Frank Act, if the Council determines that material financial distress at the nonbank financial company, or the nature, scope, size, scale, concentration, interconnectedness, or mix of the activities of the nonbank financial company, could pose a threat to the financial stability of the United States. This final rule and the interpretive guidance attached as an appendix thereto describe the manner in which the Council intends to apply the statutory standards and considerations, and the processes and procedures that the Council intends to follow, in making determinations under section 113 of the Dodd-Frank Act. This book contains: - The complete text of the Authority to Require Supervision and Regulation of Certain Nonbank Financial Companies (US Financial Stability Oversight Council Regulation) (FSOC) (2018 Edition) - A table of contents with the page number of each section
Author: Rhode Island. Treasury Department
Publisher:
ISBN:
Category : Finance
Languages : en
Pages : 150
Get Book Here
Book Description
Author: Board of Governors of the Federal Reserve System
Publisher:
ISBN: 9780894991967
Category : Banks and Banking
Languages : en
Pages : 0
Get Book Here
Book Description
Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the international sphere, supervision and regulation, consumer and community affairs and services offered by Reserve Banks. Contains several appendixes, including a brief explanation of Federal Reserve regulations, a glossary of terms, and a list of additional publications.
Author: Paul H. Schultz
Publisher: MIT Press
ISBN: 0262325934
Category : Business & Economics
Languages : en
Pages : 261
Get Book Here
Book Description
Experts debate the possible consequences of the Dodd–Frank Act, discussing such topics as banking regulation, derivatives, the Volcker rule, and mortgage reform. The Dodd–Frank Wall Street Reform and Consumer Protection Act, passed by Congress in 2010 largely in response to the financial crisis, created the Financial Stability Oversight Council and the Consumer Financial Protection Bureau; among other provisions, it limits proprietary trading by banks, changes the way swaps are traded, and curtails the use of credit ratings. The effects of Dodd–Frank remain a matter for speculation; more than half of the regulatory rulemaking called for in the bill has yet to be completed. In this book, experts on Dodd–Frank and financial regulation—academics, regulators, and practitioners—discuss the ways that the law is likely to succeed and the ways it is likely to come up short. Placing their discussion in the broader context of regulatory issues, the contributors consider banking reform; the regulation of derivatives; the Volcker Rule, and whether or not banks should be forced to stop proprietary trading; the establishment of the Consumer Financial Protection Bureau, and possible flaws in its conception; the law and “too-big-to-fail” institutions; mortgage reform, including qualification requirements and securitization; and new disclosure requirements regarding CEO compensation and conflict minerals. Contributors James R. Barth, Jeff Bloch, Mark A. Calabria, Charles W. Calomiris, Shane Corwin, Cem Demiroglu, John Dearie, Amy K. Edwards, Raymond P. H. Fishe, Priyank Gandhi, Thomas M. Hoenig, Christopher M. James, Anil K Kashyap, Robert McDonald, James Overdahl, Craig Pirrong, Matthew Richardson, Paul H. Schultz, David Skeel, Chester Spatt, Anjan Thakor, John Walsh, Lawrence J. White, Arthur Wilmarth, Todd J. Zywicki
