Federal Reserve

Federal Reserve Perspectives on Financial Regulatory Reform Proposals

Thursday 01 October 2009 | House Financial Services Committee | 34 comments

First, legislative change is needed to ensure that systemically important financial firms are subject to effective consolidated supervision, whether or not the firm owns a bank. Second, an oversight council made up of the agencies involved in financial supervision and regulation should be established, with a mandate to monitor and identify emerging risks to financial stability across the entire financial system, to identify regulatory gaps, and to coordinate the agencies’ responses to potential systemic risks.

Bernanke warns against bill that would submit Fed to audit

Tuesday 21 July 2009 22:19 | Managing Editor | 344 comments

Federal Reserve Chair Bernanke warned against legislation that would permit Congress to audit sensitive monetary policy functions, saying it would diminish Fed independence and increase worries about inflation.

Conservative Party in UK says it would restore central bank as main regulator

Monday 20 July 2009 22:10 | Managing Editor | 314 comments

As a debate rages in the U.S. about giving more regulatory power to the Federal Reserve, the UK Conservative Party unveiled plans to dismantle its central regulatory agency and to give back to the Bank of England the main responsibility for supervising banks.

Regulatory Restructuring: Balancing the Independence of the Federal Reserve in Monetary Policy with Systemic Risk Regulation

Thursday 09 July 2009 | House Financial Services Committee: Subcommittee on Domestic Monetary Policy and Technology Hearing | 15 comments

The current regulatory system, created largely as a response to the Great Depression of the 1930's, was proven ineffective and outdated at preventing and addressing the current financial crisis. President Obama has proposed to give the Federal Reserve board new powers, including the power to serve as the systemic risk regulator for large and interconnected financial firms, this hearing discusses that decision as well as the pros and cons of doing so.

Battle begins for new financial products regulator

Thursday 25 June 2009 21:56 | Managing Editor | 279 comments

The first salvos have been fired in what promises to be one of the major battles of the administration’s regulatory reform program – the creation of a new agency to focus on consumer protection in financial products.

Obama gives Bernanke not quite ‘two thumbs up’

Tuesday 23 June 2009 22:28 | Managing Editor | 262 comments

President Obama skirted a question about reappointing Ben Bernanke as Federal Reserve chairman when his term expires in January, but did praise the chairman for performing “very well” since the crisis began.

Experts divided on Fed role in monitoring systemic risk, cautious on consumer agency

Thursday 18 June 2009 21:40 | Managing Editor | 254 comments

In an exclusive FinReg21 roundtable, two of three top economists labeled the expanded Fed role a “bad idea” or a “completely bad idea.” The third thought the designation of the Fed to monitor these institutions was the preferable choice, given the alternatives.