Search Results
Speech
Ending too big to fail
Remarks at the Global Economic Policy Forum, New York City.
Speech
Financial stability: the role of the Federal Reserve System
Remarks at the Future of Banking Regulation and Supervision in the EU Conference, Frankfurt, Germany.
Journal Article
Central view: on the \\"too big to fail\\" debate: implications of the Dodd-Frank Act
It is common knowledge that the banking industry has become increasingly consolidated over the past 25 years. In 1990, prior to a number of banking law changes, the nation housed around 12,500 charters. Today, there are roughly 6,000 charters, with consolidated assets of the top 10 U.S. banking firms representing approximately 64 percent of U.S. banking assets. Without question, operations of these large firms magnified the financial crisis, emphasizing their systemic importance. The resulting landmark legislation?the Dodd-Frank Act?is intended to reduce systemic risk and, ultimately, end ...
Newsletter
Financial regulation: a primer on the Dodd-Frank Act
Last July, the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 brought the most sweeping financial regulatory reform since the Great Depression. The May 2011 Liber8 newsletter outlines key provisions of the Act intended to prevent or lessen future financial crises and enhance consumer protection.
Speech
Introductory remarks for the Panel on Regulating Financial Markets: lessons from crisis management
Introductory Remarks for the Panel Discussion Sponsored by the Heller-Hurwicz Economics Institute and the Economic Club of Minnesota at the University of Minnesota, Minneapolis.
Journal Article
Rehypothecation
How would you feel if even though you were making regular monthly payments, your mortgage bank sold your house? This may seem like an odd question, but this type of situation happens every day in financial markets in a practice known as rehypothecation. Although such practices may be hard for nontraders to understand, rehypothecation is widespread in financial markets. Following the crisis of 2007-2009, the Dodd-Frank Act put restrictions on rehypothecation for derivatives. To understand the scope of these restrictions, we need to understand the role of rehypothecation in financial trades. In ...
Speech
Fixing wholesale funding to build a more stable financial system
Remarks at the New York Bankers Association's 2013 Annual Meeting & Economic Forum, The Waldorf Astoria, New York City.
Speech
Solving the too big to fail problem
Remarks at the Clearing House's Second Annual Business Meeting and Conference, New York City.
Speech
Title II resolution, a useful tool but not a panacea
Remarks at 2013 Resolution Conference: Planning for the Orderly Resolution of a Global Systemically Important Bank, Washington, D.C.