Shadow Banking: The Rise, Risks, and Rewards of Non-Bank by Roy J. Girasa

By Roy J. Girasa

This comparative learn explores how shadow banking differs from the normal banking method. It discusses the origins, heritage, reasons, dangers, regulatory constraints, and projected destiny evolution of either monetary sectors of the realm financial system. This thorough exam of non-bank monetary intermediaries follows the migration of prone from conventional banks to less-regulated replacement banking items, in addition to the evolution of rules and the monetary balance Oversight Council to watch those new entities. 3 chapters discover intensive the key monetary constructions newly distinct as systemically vital monetary associations (SIFIs), with specific recognition to insurance firms akin to MetLife, which search exemption from the designation. eventually, the point of interest shifts to foreign monetary associations' efforts to guard shoppers and curtail irresponsible shadow banks, with an eye fixed towards the results of those activities on destiny banking practices.

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TRADITIONAL BANKING IN THE UNITED STATES AND ITS EVOLUTION... 32 The legislation permitting BHCs is the Bank Holding Act of 1956,33 which originally was intended to limit banks from entering into non-bank activities.  To the extent that the FHC engages in nonbank activities, for example those of broker-dealers, other governmental agencies, such as the SEC, may exercise jurisdiction. 81, an FHC is a BHC that complies with the requirements of the statute and regulations, include that it be capitalized, well managed, and has elected to become an FHC.

2901 et. seq. L. 106-102, 113 Stat. 1338 (1999). L. R. 4173 (2010). Dodd-Frank Act, §606. L. 81-797, 64 Stat. 873(1950). pdf. International Organization of Securities Commissions, Code of Conduct for Credit Rating Agencies (rev). p=I nternational+Organization+of+Securities+Commissions%2C+Code+of+C onduct+for+Credit+Rating+Agencies&ei=UTF-8&hspart=mozilla&hsim p=yhs-002. Scott Hirst, Including Credit Ratings in Registration Statements, http:// b l o g s . l a w. h a r v a r d . e d u / c o r p g o v / 2 0 1 0 / 0 8 / 1 9 / 9 n c l u d i n g credit-ratings-in-registration-stat.

TRADITIONAL BANKING IN THE UNITED STATES AND ITS EVOLUTION... 11 prohibition of proprietary trading activities by July 21, 2015. A number of Federal agencies are responsible for the implementation of the Rule, including the Office of the Comptroller of the Currency (OCC), the FDIC, the US Securities and Exchange Commission (SEC), and the Commodity Futures Trading Commission (CFTC). 2 Additional Prohibitions: Credit Rating Agencies A problem that existed below the regulatory radar screen was the inherent conflict of interest that affected credit rating agencies (CRAs) such as Standard & Poor’s, Fitch Group, and Moody’s Investor Services.

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