Virginia Tech
    • Log in
    View Item 
    •   VTechWorks Home
    • College of Liberal Arts and Human Sciences (CLAHS)
    • School of Public and International Affairs (SPIA)
    • Global Forum on Urban and Regional Resilience
    • Scholarly Works, Global Forum on Urban and Regional Resilience
    • View Item
    •   VTechWorks Home
    • College of Liberal Arts and Human Sciences (CLAHS)
    • School of Public and International Affairs (SPIA)
    • Global Forum on Urban and Regional Resilience
    • Scholarly Works, Global Forum on Urban and Regional Resilience
    • View Item
    JavaScript is disabled for your browser. Some features of this site may not work without it.

    Financial Stability Rearticulated: Institutional Reform, Post-Crisis Governance, and the New Regulatory Landscape in the United States

    Thumbnail
    View/Open
    financialstabilityrearticulated_bieri_gfurr15.pdf (921.9Kb)
    Downloads: 233
    Date
    2015-02
    Author
    Bieri, David S.
    Metadata
    Show full item record
    Abstract
    The recent financial crisis was a powerful reminder that the inherent instability of the monetary-financial system is likely to entail serious consequences for the real economy. In the U.S., the monumental Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (“Dodd-Frank Act”) has provided legislation that aims to institutionalise several aspects a new thinking on financial stability. In addition to the interagency Financial Stability Oversight Council (“FSOC”), the creation of the The Consumer Financial Protection Bureau (“CFPB”) marks an important departure from the U.S. regulatory tradition of de-centralized agencies whereby the institutional locus of financial oversight depended on the precise nature of the legal structure of and business activities pursued by individual financial intermediaries. In its mandate and institutional structure, the CFPB unifies both “micro-prudential” and “macro- prudential” principles of financial regulation to enhance overall financial stability. From an historical perspective, the creation of the CFPB does not change the regulatory landscape to the same extent as did the creation of the Federal Reserve after the Panic of 1907 or the creation of the FDIC after the 1933 Banking Crisis. At the same time, however, the CFPB represents an important historical shift in the policy focus of U.S. financial regulation away from bank stability bank to a broad notion of financial stability that recognises the increased financialisation of households’ welfare.
    URI
    http://hdl.handle.net/10919/85449
    Collections
    • Scholarly Works, Global Forum on Urban and Regional Resilience [7]

    If you believe that any material in VTechWorks should be removed, please see our policy and procedure for Requesting that Material be Amended or Removed. All takedown requests will be promptly acknowledged and investigated.

    Virginia Tech | University Libraries | Contact Us
     

     

    VTechWorks

    AboutPoliciesHelp

    Browse

    All of VTechWorksCommunities & CollectionsBy Issue DateAuthorsTitlesSubjectsThis CollectionBy Issue DateAuthorsTitlesSubjects

    My Account

    Log inRegister

    Statistics

    View Usage Statistics

    If you believe that any material in VTechWorks should be removed, please see our policy and procedure for Requesting that Material be Amended or Removed. All takedown requests will be promptly acknowledged and investigated.

    Virginia Tech | University Libraries | Contact Us