RESTRUCTURING U.S. FEDERAL FINANCIAL REGULATION

Abstract

Despite changes over the past 70 yr, the U.S. federal financial regulatory system remains rooted in the reforms of the 1930s. The institutions governed by this system have, nevertheless, continued to evolve. Today, regulation of large, multiproduct, internationally active financial organizations poses challenges for a system designed largely to regulate smaller, distinct, locally based organizations. Reform of the regulatory system, however, is not an easy task—complex issues regarding deposit insurance, the role of the central bank, and the dual banking system must be addressed. In the absence of a crisis, however, regulatory restructuring will not likely generate much political interest. (JEL G28)

Cite this work

No public copy is stored for this record, so only the metadata is cited.

Stored only when both papers are in the corpus — 21 citations exist upstream.

Papers that cite the same references — the relational fallback while embeddings are still backfilling.