Consolidated Regulation and Supervision in the United States
International Monetary Fund
Download Document| Date Published | 2011 |
| Version | IMF Working Paper |
| Primary Author | Ashok Vir Bhatia |
| Other Authors | |
| Theme | |
| Country | United States |
Abstract
This paper builds on a Technical Note produced as part of the IMF’s 2010 Financial Sector Assessment Program (FSAP) review of the United States. It addresses enterprise-wide oversight of financial groups, a key tool to mitigate systemic risk. Focusing on legal arrangements, it recommends eliminating exceptions for holding companies owning certain limited-purpose banks, harmonizing arrangements for bank and thrift holding companies, and bringing into the net a few systemic non-bank financial groups, with the Federal Reserve as the sole consolidated regulator and supervisor.