Financial Regulatory Reform: Systemic Risk and the Federal Reserve

Description

The recent financial crisis contained a number of systemic risk episodes, or episodes that caused instability for large parts of the financial system. The lesson some policymakers have taken from this crisis is that a systemic risk or "macroprudential" regulator is needed to prevent similar episodes in the future. This report defines the potential duties and responsibilities of a systemic risk regulator, relating those duties to events that potentially contributed to the recent crisis. It then identifies the powers that would need to be given to a regulator to perform those duties, and compares those powers and responsibilities to the ... continued below

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28 pages.

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Labonte, Marc April 30, 2010.

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This report is part of the collection entitled: Congressional Research Service Reports and was provided by UNT Libraries Government Documents Department to Digital Library, a digital repository hosted by the UNT Libraries. More information about this report can be viewed below.

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Description

The recent financial crisis contained a number of systemic risk episodes, or episodes that caused instability for large parts of the financial system. The lesson some policymakers have taken from this crisis is that a systemic risk or "macroprudential" regulator is needed to prevent similar episodes in the future. This report defines the potential duties and responsibilities of a systemic risk regulator, relating those duties to events that potentially contributed to the recent crisis. It then identifies the powers that would need to be given to a regulator to perform those duties, and compares those powers and responsibilities to the Fed's existing powers and responsibilities. It discusses advantages and disadvantages of giving those responsibilities to the Fed or the executive branch. The report also includes a brief overview of major elements of the Administration's proposal, H.R. 4173, which passed the House on December 11, 2009, and the Restoring American Financial Stability Act, which was ordered to be reported out of the Senate Banking Committee on March 22, 2010..

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28 pages.

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Congressional Research Service Reports

The Congressional Research Service (CRS) is the public policy research arm of Congress. This legislative branch agency works exclusively for Members of Congress, their committees and their staff. This collection includes CRS reports from the mid-1970's through the present--covering a variety of topics from agriculture to foreign policy to welfare.

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  • April 30, 2010

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  • March 30, 2015, 10:03 p.m.

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Labonte, Marc. Financial Regulatory Reform: Systemic Risk and the Federal Reserve, report, April 30, 2010; Washington D.C.. (digital.library.unt.edu/ark:/67531/metadc501566/: accessed October 20, 2017), University of North Texas Libraries, Digital Library, digital.library.unt.edu; crediting UNT Libraries Government Documents Department.