What Is Systemic Risk? Does It Apply to Recent JP Morgan Losses?, Edward V. Murphy Specialist in Financial Economics, May 24, 2012 “JP Morgan recently disclosed that it suffered significant losses in a unit that traded complex financial instruments. Congress will be examining the JP Morgan trades and oversight by JP Morgans regulators. Two of… Continue Reading
Accurate, Focused Research on Law, Technology and Knowledge Discovery Since 2002
Search Results for: Dodd-Frank
Agencies Sign Memorandum of Understanding on Supervisory Coordination
News release: “Five federal supervisory agencies today released a Memorandum of Understanding (MOU) that clarifies how the agencies will coordinate their supervisory activities, consistent with the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act). Section 1025 of the Dodd-Frank Act requires that the Consumer Financial Protection Bureau (CFPB) and the prudential regulators–the… Continue Reading
Designating Systemically Important Financial Institutions: Balancing Costs and Benefits
Designating Systemically Important Financial Institutions: Balancing Costs and Benefits, Testimony before the House Financial Services Subcommittee on Financial Institutions and Consumer Credit, Douglas J. Elliott, Fellow in Economic Studies, the Brookings Institution “In Dodd-Frank, Congress wisely gave regulators a wider mandate to oversee systemically important financial institutions (SIFIs). These institutions are the ones most capable… Continue Reading
FDIC strategy for esolving systemically important financial institutions
Remarks by Martin J. Gruenberg, Acting Chairman, FDIC to the Federal Reserve Bank of Chicago Bank Structure Conference; Chicago, IL – May 10, 2012 “Today I would like to take the opportunity to discuss one of those challenging issues the orderly resolution of systemically important financial institutions (SIFIs). The Dodd-Frank Act provided important new… Continue Reading
Federal Reserve: Volcker Rule Conformance Period Clarified
News release: “As more fully explained in this statement, the Board confirms that banking entities by statute have two years from July 21, 2012, to conform all of their activities and investments to section 619 [Dodd-Frank Wall Street Reform and Consumer Protection Act, or the so-called Volcker Rule], unless that period is extended by the… Continue Reading
Paper – Applying the Insurable Interest Doctrine to 21st Century Financial Markets
An FDA for Financial Innovation: Applying the Insurable Interest Doctrine to 21st Century Financial Markets – Eric A. Posner, University of Chicago Law School; E. Glen Weyl, University of Chicago; University of Toulouse, Toulouse School of Economics, revised April 4, 2012 “The financial crisis of 2008 was caused in part by speculative investment in complex… Continue Reading
FDIC Board Approved Two Notices of Proposed Rulemaking
News release: “The first of two Notices of Proposed Rulemaking would implement section 210(c)(16) of the Dodd-Frank Act, which permits the FDIC as receiver for a failed SIFI to enforce and prevent termination of the contracts of the institution’s subsidiaries or affiliates. The second would make limited clarifications and definitional changes to the deposit insurance… Continue Reading
Information regarding activities, positions of participants in single-name credit default swap market
“The Division of Risk, Strategy, and Financial Innovation has completed an analysis of single-name credit default swap transaction and position activity. The first analysis is based on a sample of all new, risk transfer, dollar-adjusted, gold record transactions in both corporate and sovereign single-name credit default swaps (CDS) submitted to the Depository Trust and Clearing… Continue Reading
SEC Proposes Rules To Help Prevent And Detect Identity Theft
News release: “The Securities and Exchange Commission today announced a rule proposal to help protect investors from identity theft by ensuring that broker-dealers, mutual funds, and other SEC-regulated entities create programs to detect and respond appropriately to red flags. The SEC issued the proposal jointly with the Commodity Futures Trading Commission (CFTC). Section 1088 of… Continue Reading
FDIC Board Proposes Stress Testing Regulation for Large Banks
News release:”The FDIC today approved a notice of proposed rulemaking (NPR) that would require certain large insured depository institutions to conduct annual capital-adequacy stress tests. The proposal, to implement section 165(i)(2) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, would apply to FDIC-insured state nonmember banks and FDIC-insured state-chartered savings associations with total… Continue Reading
FDIC Board Proposes Stress Testing Regulation for Large Banks
News release: “The FDIC today approved a notice of proposed rulemaking (NPR) that would require certain large insured depository institutions to conduct annual capital-adequacy stress tests. The proposal, to implement section 165(i)(2) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, would apply to FDIC-insured state nonmember banks and FDIC-insured state-chartered savings associations with… Continue Reading
Fed Reserve Gov. Speech: The International Agenda for Financial Regulation
The International Agenda for Financial Regulation, Governor Daniel K. Tarullo, American Bar Association Banking Law Committee Fall Meeting, Washington, D.C., November 4, 2011 “Basel 2.5, Basel III, and the G-SIB surcharges can only reduce the chances of highly disruptive failure, not eliminate them. A necessary supplement is a strong resolution mechanism for systemically important firms,… Continue Reading
