Consolidated Regulation and Supervision in the United States
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Summary:
This paper builds on a Technical Note produced as part of the IMF’s 2010 Financial Sector Assessment Program (FSAP) review of the United States. It addresses enterprise-wide oversight of financial groups, a key tool to mitigate systemic risk. Focusing on legal arrangements, it recommends eliminating exceptions for holding companies owning certain limited-purpose banks, harmonizing arrangements for bank and thrift holding companies, and bringing into the net a few systemic nonbank financial groups, with the Federal Reserve as the sole consolidated regulator and supervisor.
Series:
Working Paper No. 2011/023
Subject:
Banking Brokers and dealers Commercial banks Consolidated banking supervision Financial institutions Financial markets Financial regulation and supervision Securities
English
Publication Date:
January 1, 2011
ISBN/ISSN:
9781455211920/1018-5941
Stock No:
WPIEA2011023
Pages:
25
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