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Level 14

Regulation of the Financial System Financial Crise


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financial panic
a widespread collapse of financial markets and intermediaries
Restrictions on Entry
those who want to start up a financial intermediary must obtain a charter from that state or federal government
Disclosure
reporting is stringent
Restrictions on Assets and Activities
financial intermediaries are restricted in what they are allowed to do and in what assets they can hold
Deposit Insurance
the government insures people's deposits to avoid great financial loss
Limits on Competition
politicians claim competition can hurt financial intermediaries...there is very little evidence
Restrictions on Interest Rates
inhibits competition by imposing restrictions on the interest rates that can be paid on deposits
SEC
ORGANIZED EXCHANGES AND FINANCIAL MARKETS
FUTURES MARKET EXCHANGES
Commodities Futures Trading Commission (CFTC)
FEDERALLY CHARTERED COMMERCIAL BANKS
Office of the Comptroller of the Currency
FEDERALLY CHARTERED CREDIT UNIONS
National Credit Union Administration (NCUA)
STATE-CHARTERED DEPOSITORY INSTITUTIONS
State Banking and Insurance Commissions
FDIC
COMMERCIAL BANKS, MUTUAL SAVINGS BANKS, SAVINGS AND LOAN ASSOCIATIONS
ALL DEPOSITORY INSTITUTIONS
Federal Reserve System (The Fed)
Office of Thrift Supervision
SAVINGS AND LOAN ASSOCIATIONS
Financial Regulation Abroad
financial regulation in foreign countries is similar to that of the U.S.