Financial Stability Regulation

Daniel K. Tarullo

Chapter 3 in Dodd–Frank Wall Street Reform and Consumer Protection Act:Purpose, Critique, Implementation Status and Policy Issues, 2014, pp 59-82 from World Scientific Publishing Co. Pte. Ltd.

Abstract: As one would expect of a piece of legislation that has 16 titles and runs 849 pages in the Statutes at Large, the Dodd–Frank Wall Street Reform and Consumer Protection Act ranges widely in addressing problems both directly and indirectly associated with the financial crisis. Taken as a whole, though, the primary aim of those 849 pages can fairly be read as a reorientation of financial regulation towards safeguarding “financial stability” through the containment of “systemic risk,” phrases that both recur dozens of times throughout the statute. The law, explicitly in many provisions and implicitly in many others, directs the bank regulatory agencies to broaden their focus beyond the soundness of individual banking institutions, and the market regulatory agencies to move beyond their traditional focus on transaction-based investor protection.

Keywords: Dodd-Frank; Financial Regulation; Macroprudential Regulation; Systemic Risk; Volcker Rule; Resolution Authority; Consumer Protection; Central Clearinghouses (CCPs) (search for similar items in EconPapers)
JEL-codes: G01 G18 N2 (search for similar items in EconPapers)
Date: 2014
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