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 Collection: Congressional Research Service Reports
"Living Wills": The Legal Regime for Constructing Resolution Plans for Certain Financial Institutions

"Living Wills": The Legal Regime for Constructing Resolution Plans for Certain Financial Institutions

Date: December 4, 2014
Creator: Carpenter, David H.
Description: One of the chief objectives of the Dodd-Frank Wall Street Reform and Consumer Protection Act (DFA) is to promote financial stability within the United States, without the need for emergency governmental assistance to troubled firms. To achieve this goal, the DFA establishes a heightened regulatory regime for certain, generally large "covered financial institutions." A pillar of this heightened regulatory regime is that each covered financial institution must submit "credible" plans to the Board of Governors of the Federal Reserve System (FRB) and the Federal Deposit Insurance Corporation (FDIC) detailing how the firm could be quickly resolved in an orderly fashion under the U.S. Bankruptcy Code or other applicable insolvency regime "in the event of a material financial distress or failure." These resolution plans are commonly referred to as "living wills." This report reviews the legal structure of the DFA's living will requirements, pursuant to both DFA Section 165(d) and the regulations and guidance issued jointly by the FRB and FDIC, and explains the August 2014 joint announcement of the FRB and FDIC regarding the inadequacies of the 2013 living wills filed by the 11 largest, most complex financial institutions in the country. This report also examines some of the steps ...
Contributing Partner: UNT Libraries Government Documents Department
What Is the Current State of the Economic Recovery?

What Is the Current State of the Economic Recovery?

Date: December 1, 2014
Creator: Elwell, Craig K.
Description: This report discusses the U.S. economy's recovery from the 2007-2009 recession.
Contributing Partner: UNT Libraries Government Documents Department
The G-20 and International Economic Cooperation: Background and Implications for Congress

The G-20 and International Economic Cooperation: Background and Implications for Congress

Date: November 5, 2014
Creator: Nelson, Rebecca M.
Description: This report discusses the G-20, an international forum for discussing and coordinating economic policies among major advanced and emerging economies. Previous summits have, for example, focused on financial regulatory reform, global imbalances, funding for the International Monetary Fund (IMF), voting power of emerging economies in international financial institutions, and fossil fuel subsidies.
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China's Economic Rise: History, Trends, Challenges, and Implications for the United States

China's Economic Rise: History, Trends, Challenges, and Implications for the United States

Date: October 9, 2014
Creator: Morrison, Wayne M.
Description: This report surveys the rise of China's economy, describes major economic challenges facing China, and discusses the implications of China's economic rise for the United States.
Contributing Partner: UNT Libraries Government Documents Department
The United Arab Emirates (UAE): Issues for U.S. Policy

The United Arab Emirates (UAE): Issues for U.S. Policy

Date: September 25, 2014
Creator: Katzman, Kenneth
Description: This report discusses the open economy and society of the United Arab Emirates (UAE), provides a general description of the UAE's government and political structure, and outlines the effects of the recent global economic downturn on the UAE in general and on the city of Dubai in particular. It also describes U.S. concern over the proliferation of advanced technology in relation to a recently-signed U.S.-UAE civilian nuclear agreement, due to the UAE economy and the UAE's lax export controls.
Contributing Partner: UNT Libraries Government Documents Department
Japan-U.S. Relations: Issues for Congress

Japan-U.S. Relations: Issues for Congress

Date: September 24, 2014
Creator: Chanlett-Avery, Emma; Manyin, Mark E.; Rinehart, Ian E.; Nelson, Rebecca M. & Williams, Brock R.
Description: This report discusses issues regarding U.S.-Japan economic relations, since the economic condition of each nation can affect the world economy and a U.S.-Japan bilateral economic relationship could influence economic conditions in other countries. U.S. and Japanese leaders have several options on how to manage their relationship, including stronger reliance on the World Trade Organization; special bilateral negotiating frameworks and agreements; or a free trade agreement.
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Federal Reserve: Oversight and Disclosure Issues

Federal Reserve: Oversight and Disclosure Issues

Date: September 19, 2014
Creator: Labonte, Marc
Description: This report provides an overview of existing Fed oversight and disclosure practices. The report also considers the potential impact of greater oversight and disclosure on the Fed's independence and its ability to achieve its macroeconomic and financial stability goals.
Contributing Partner: UNT Libraries Government Documents Department
Systemically Important or "Too Big to Fail" Financial Institutions

Systemically Important or "Too Big to Fail" Financial Institutions

Date: September 19, 2014
Creator: Labonte, Marc
Description: This report discusses the economic issues raised by "too big to fail" (TBTF), the historical experience with TBTF before and during the financial crisis of the 2000s, broad policy options, and policy changes made by the relevant Dodd-Frank provisions.
Contributing Partner: UNT Libraries Government Documents Department
Mongolia: Issues for Congress

Mongolia: Issues for Congress

Date: September 3, 2014
Creator: Lawrence, Susan V.
Description: This report examines current economic and political issues in Mongolia, including the country's democratic development, investment climate, military engagement and foreign relations.
Contributing Partner: UNT Libraries Government Documents Department
Designating Systemically Important Financial Institutions (SIFIs)

Designating Systemically Important Financial Institutions (SIFIs)

Date: August 28, 2014
Creator: Labonte, Marc
Description: This report discusses congressional concerns regarding the Financial Stability Oversight Council's (FSOC) authorization to designate certain non-bank entities as Systemically Important Financial Institutions (SIFI).
Contributing Partner: UNT Libraries Government Documents Department