Banking Supervision Regulation

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Subsequent to the financial crisis of 2008, stronger regulations regarding banking supervision have been implemented, or are in the process of implementation.

Banking Supervision in the United States

In the United States, the Dodd-Frank Act contains numerous banking regulation and systemic risk mandates, including:


Banking Supervision in Europe

The European Union has established the European Banking Authority, and the European Securities and Markets Authority to monitor banks and enforce EU rules. In the U.K., the Financial Services Authority in April 2013 transfered responsibility for prudential regulation to a focused new regulator, the Prudential Regulation Authority (PRA), established as a subsidiary of the Bank of England.

The U.K. Independent Commission on Banking (also known as the "Vickers Commission") is a five-member panel appointed by the U.K. government in 2010. [1] The commission, which is chaired by former Chief Economist of the Bank of England Sir John Vickers, issued its final report and recommendations on September 12, 2011.[2]

In June 2012, the U.K. Trreasury, under the direction of Chancellor of the Exchequer George Osborne, submitted a white paper highlighting its recommendations on banking reform. These recommendations soften key recommendations of the Vickers Commission. [3] To view a complete summary of the Treasury white paper, click HERE.

International Efforts in Banking Supervision

The Bank for International Settlements (BIS) has been working to encourage international coordination of regulations, and has offered guidance on:

On December 10, 2012, the Bank of England and the U.S. Federal Deposit Insurance Corporation published a joint paper, "Resolving Globally Active, Systemically Important, Financial Institutions

References

  1. UK Independent Commission on Banking Publishes Final Report. Clifford Chance. Retrieved on September 22, 2011.
  2. Vickers plan shakes up City. Financial Times. Retrieved on September 22, 2011.
  3. U.K. Softens Vickers’ Bank Proposals, Prompting Criticism. Bloomberg Businessweek. Retrieved on June 18, 20121.

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