Posted

February 02, 2011 12:34:50 AM

Date

2011-01

Author

Bhatia, Ashok Vir

Affiliation

MCM and SPR Departments, IMF

Title

Consolidated Regulation and Supervision in the United States

Summary /
Abstract

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.

Keywords

Bank holding company, consoldated regulation, consolidated supervision, investment banking group, savings and loan holding company

URL

http://www.imf.org/external/pubs/ft/wp/2011/wp1123.pdf

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