Working Paper
Durable financial regulation: monitoring financial instruments as a counterpart to regulating financial institutions
Abstract: Superseded by Working Paper 13-2 ; This paper sets forth a discussion framework for the information requirements of systemic financial regulation. It specifically proposes a large macro-micro database for the U.S. based on an extended version of the Flow of Funds. The author argues that such a database would have been of material value to U.S. regulators in ameliorating the recent financial crisis and will be of aid in understanding the potential vulnerabilities of an innovative financial system in the future. The author also argues that the data should -- under strict confidentiality conditions -- be made available to academic researchers investigating the detection and measurement of systemic risk.
Keywords: Flow of funds; Financial crises; Financial institutions - Law and legislation;
Authors
Bibliographic Information
Provider: Federal Reserve Bank of Philadelphia
Part of Series: Working Papers
Publication Date: 2010
Number: 10-22