A Supervisor's View of the Current Financial Turmoil

Cathy Lemieux and Steven VanBever
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Cathy Lemieux: Federal Reserve Bank of Chicago, USA
Steven VanBever: Federal Reserve Bank of Chicago, USA

Chapter 16 in The First Credit Market Turmoil of the 21st Century:Implications for Public Policy, 2009, pp 267-280 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractThis paper offers some interim reflections on the current financial turmoil, from a supervisor's point of view. To provide perspective, we will begin by briefly surveying the banking crises of the 1980s and early 1990s,1 including the most important legislative responses to these crises. Next, we will outline some of the ways the current financial turmoil is different from the previous episode. We will continue by summarizing some of the “lessons learned” from the current situation, both for banks and for bank supervisors. Finally, we will survey some of the policy responses to the current financial turmoil, both short-term and longer-term.

Keywords: Financial Crises; Systemic Risk; Credit Market Turmoil; International Financial Markets (search for similar items in EconPapers)
Date: 2009
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