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Restructuring U.S. Federal Financial Regulation

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  • ROSE M. KUSHMEIDER

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)

Suggested Citation

  • Rose M. Kushmeider, 2007. "Restructuring U.S. Federal Financial Regulation," Contemporary Economic Policy, Western Economic Association International, vol. 25(3), pages 325-340, July.
    • Handle: RePEc:bla:coecpo:v:25:y:2007:i:3:p:325-340
    DOI: 10.1111/j.1465-7287.2007.00050.x
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    References listed on IDEAS

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    1. Larry Wall & Robert Eisenbeis, 1999. "Financial Regulatory Structure and the Resolution of Conflicting Goals," Journal of Financial Services Research, Springer;Western Finance Association, vol. 16(2), pages 223-245, December.
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    3. Ron J. Feldman & Jangryoul Kim & Preston J. Miller & Jason Schmidt, 2002. "Are banking supervisory data useful for macroeconomic forecasts?," Banking and Policy Studies 1-02, Federal Reserve Bank of Minneapolis.
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    More about this item

    JEL classification:

    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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